LIC Jeevan Suraksha 1

Jeevan Suraksha-I summary:
New Jeevan Suraksha-I (Table No.147) is a unique plan designed to provide pension from a chosen retirement date. The plan can be taken by anyone who want pension after retirement.

Mode of Premiums:
You may pay Premiums yearly, half-yearly, quarterly, monthly or through Salary deduction. Alternatively, the premium may be paid in one lump sum (single premium).

Tax Benefits:
Tax relief under Section 80ccc is available on premiums paid under New Jeevan Suraksha I (Table No.147). The premiums paid under New Jeevan Dhara I (Table No.148) qualify for tax relief under Section 88.

Income Tax provisions under New Jeevan Suraksha 1
1. New Jeevan Suraksha-I is a scheme approved by IRDA as envisaged in Section 10(23 AAB) of the Act.
2. The income of the fund maintained under this pension scheme is totally exempt from income tax being a fund maintained under section 10(23 AAB) of the Act.
3. The deduction under Section 80CCC is available up to a sum of Rs.10,000/- to the assessee, who is an individual in respect of any sum deposited by him into the above plan.
4. The deduction under Section 80 CCC is not available to a Hindu Undivided family.

Bonuses:
Jeevan Suraksha 1 is an with-profit plans and participate in the profits of the LIC’s annuity / pension business. Policies get a share of the profits in the form of bonuses. Simple Revisionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year.  Once declared, they form part of the guaranteed benefits of the plan. Final (Additional) Bonuses may also be payable provided policy has run for a certain minimum period.

a) On vesting:
The Notional Cash Option together with Revisionary Bonuses and Final additional Bonuses ( if any ) with or without 25% commutation will be compulsorily converted into annuity having following options.

  • Annuity for life.
  • Annuity for life with guaranteed period of 5, 10, 15, 20 years.
  • Joint life and last survivor annuity to the annuitant and his/her spouse under which annuity payable to the spouse on death of the purchaser will be 50% of that payable to the annuitant.
  • Life annuity with return of purchase price.
  • Life annuity with annuities increasing at a simple rate of 3% per year.

T he annuity rates will be that available under the version of the New Jeevan Akshaya Plan current at the date of vesting. A rebate of 3% will be available on the purchase price of the New Jeevan Akshaya Policy. Option for the annuity type is to be exercised at least 6 months before the date of vesting.

b) During Deferment:

A term rider option will be available. On the death of the policyholder who has opted for the term Assurance rider ( provided the policy is in-force), the Term Assurance Sum Assured along with all premiums ( excluding term Assurance premium and extra premium if any ) paid up to the date of death accumulated at the rate of 5% p.a. compounding or at such rates as decided by the Corporation from time to time will be paid to the nominee. When the policy is not in-force, only return of premiums with interest as stated above will be available.

For those not opting for the Term Assurance Rider, in respect of policies which are in-force or in a paid up condition, all premium accumulated at 5% p.a. compounding or at such rates as decided by the Corporation from time to time, will be paid to the nominee. Term Rider Option will be available only on the Annual Premium Plan.

Eligibility Conditions and Restrictions for LIC Jeevan Suraksha 1

Minimum age at entry : 18 years.
Maximum age at entry: 65 years
Minimum vesting age : 50 years
Maximum vesting age : 79 years
Minimum deferment period : 2 years
Maximum deferment period : 35 years
Minimum Notional cash option for regular premium policies :Rs.50,000/-
Minimum premium : Rs.2,500/- p.a for regular premium Rs.10,000/- for single premium policies

How to Apply for LIC Of India’s Jeevan Suraksha 1?
Contact your nearest Life Insurance Corporation Of India (LIC of India) Branch/ LIC Agent. Or
Fill the Application form to apply online. (Mumbai only)

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Note:
The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.

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Comments

  1. promila sharma says

    Sir, I have taken LIC Pension Plan – Navjeevan Dhara-I (Table 147-19) in the year 1996 and Paying Rs.9998 per annum. The maturity will be in the year of 2023. What will be the monthly pension in this policy after maturity.

  2. A K JHA says

    I took LIC New Jeevan Suraksha Term plan 147 , 14 Yr on 14/08/2002 Yly premium Rs 10001/-.

    Kindly help me know the pension amount that I shall start receiving after maturity of the policy.

  3. ashaq zaidi says

    I have taken a LICJeevan Suraksha Plan 147 and it’s due for maturity on 20th January,2014.I will not be India nd I need to get the lumpsum amount on maturity. Is there any option available online for policy surrender ??

  4. an.kannappan says

    I have taken New Jeevan Suraksha[Table-147] policy[No:7333366176] in Feb’2004 and my last premium was paid in Feb’2012.My annual premium was Rs.9999 which I paid regularly.What will be my monthly pension and lumpsum payment?

  5. Mahendra Prajapati says

    Sir, Policy no:982411356 New jeevan suraksha 1(T.No.- 147 ).I am paying premium of rs.10000/- yearly from 12/01/2005. Tenure-31 years.how much will i get as lumpsum. I also want to know what amount i will get as pension after maturity.
    What will the amount if i surrender this policy just now.
    Pl Reply at 9425006226, mpmahendra@yahoo.com
    With thanks

  6. B SRIHARI PRASAD says

    I have taken Jeevan Suraksha Table 147. Policy No. 363213059. Commencement from 2004. Term is 15 years. Premium is Rs. 10,000/- yearly. What will be the maturity value and what will be the pension per month I will be getting after my retirement ?

  7. Maddukuri Kali Varaprasad says

    M.K.V.Prasad,
    1.I have taken Jeevan Suraksha policy in 28.03.2003 and my last premium will be March 2014. My annual premium was Rs 10,000 which I have been paying regularly. What will be monthly pension and what will be lump sum payment along with monthly pension.

    2.In case if i prematurely close this how much in lump sum i get.

    Regards,
    M.K.V.Prasad

  8. d.sambasivarao says

    table no 147 and 148 age 30 years yearly premium 500000 per year pension eligility per month and matured date and amount term 28 years

  9. anu says

    Sir, Policy no:713984319 jeevan suraksha plan 147 We are paying premium of rs.10000/- yearly from 2005. How many more years i need to pay and how much will i get as lumpsum. I also want to know what amount i will get as pension
    thanks
    anu

  10. T R Verma says

    I wish to take a pension plan for my son who would be 40 yrs old on 2nd Nov 2012. I can pay Rs. 2500/- P.M. as premium for the next 20 years till he is 60. Please advise me soon as to what Pension plan would be most suitable for my son. You may also advise me to contact the local offices at JABALPUR. Thanking you.

  11. Sandeep says

    Hi,

    My age is 28 years, I want to invest around 50,000 per year in any pension scheme for lic . Which is best pension scheme which will give me max pension from the age of 55 ?

    Give me some calculation how much pension I get from age 55 if I invest 50000 per year.

    Thanks
    Sandeep

  12. Ram lallu prasad singh says

    sir,

    My policy no is-532976711, maturity date -25.09.2012
    Ihave regularly paid my till my last premium of rs, 10070/ per year. but till date i have not got any informatoin regarding when my pension will start and how much.nothing quiries or information has been asked or sent. pl send me ,how when & how much pension i willget by return mail. my address is –
    Flat No. – B-253, TWIN TOWERS
    PRABHADEVI
    MUMBAI,-400025
    PIN-400025
    REGARDS
    RLP SINGH

  13. Raj Kumar Maheshwari says

    I have taken Jeevan Suraksha Table 147. Policy No. 922651897. Commencement date is 28/12/2002. Term is 15 years. Premium is Rs. 10,000/- yearly. What will be the maturity value and what will be the pension per month I will be getting after my retirement ?

  14. Anoop Kumar Pachori says

    I am having a new Jeevan Dahara-I/ Nw Jevan Suraksha Plaln Policy no.904666395 dtd. 28.03.2002. I want to know the Follwing:
    1.amount which I will get at maturity on 28.03.2016
    2. What options are available to me on 28.03.2016 to reinvest the money.
    3. I want to change my address for communication from present address to the following address:

    Anoop Kumar Pachori
    Flat no. C-1, ONGC Housing Complex
    Sector-39, Noida, UP, PIN-201301

    Kindly send me the reply.

    Regards

    Anoop Kumar Pachori
    DGM(Electrical)

  15. Sarang says

    Even I am looking for answer to similar question

    Whats will pension amount for a 25 year policy with 10000 Premium.

    But I guess no one has answer to this question, probably LIC as well.

    I appreciate if anyone provides answer.

    Thanks,
    Sarang

  16. sreelatha says

    I have taken jeevan suraksha plan no-1(t.no.147) policy in 2004 march and my last premium will be in march 2012.my annual premium was Rs.10000, which i have been paying regularly.My date of birth is 15-07-1962.My question is
    1) what will be my monthly pension on maturity.
    2)How long will i get it.
    3)what will be the lumpsum amount along with pension?
    My policy no.774548684

    Thanks
    Sreelatha.k

  17. UMA KANT JOSHI says

    SIR,….POLICY NO..161458614…
    I AM HOLDING NEW JEEVAN SURKSHA PLAN-1 POLICY BY
    PAYING REGULAR PREMIUM OF RS.10450 YEARLY.
    PLEASE LET ME KNOW THE STATUS AFTER MATURITY

    1. DATE OF START OF MONTLY PENSION
    2. AMOUNT OF MONTHLY PENSION

    REGARDS

  18. Mukesh kumar says

    I want to take jeevan suraksha pension plan for 27 years with annual premium of 10000/- what will be the monthly pension after 27 years and others benefits

  19. Rinky Karmokar says

    if i want 2 get 15000 rs per month as a pension after 20 years from now then what would be the premium structure per annm in LIC’s any good pension plan scheme?
    pls suggest me a good pension plan scheme.presently i am 24.

  20. Rinky Karmokar says

    what i am seeing that we are not geeting our answer regurly.max qus are untouched.i think this is not expected from a renowned co. like LIC.

  21. Deepak says

    I am 30 Years old and I want to invest 40,000 as annual premium in Jeevan Suraksha for 15 years .
    my question is what I will get monthly pension and other benefits.

  22. SANKARANARAYANAN says

    Dear Sir/Madam

    I woul like to join LIC Pension Plan, My age is 41 running..please give me quote for pension plan..still iam in UAE.

    Thanks & Regards
    Sankaranarayanan.K

  23. Anoop Kumar Pachori says

    I purchased New Jeevan Suraksha Plan1 on 28.02.2002. I am regularly paying annual premeum of Rs 10,000/. My policy no. 904666395 will mature on 28.04.2015.

    My Question is:
    What amount I shall get on annuity in 1015?

    Regards

  24. sanjay says

    I have taken Jeevan Suraksha policy in March 2003 and my last premium will be March 2018. My annual premium was Rs 10,000 which I have been paying regularly. What will be monthly pension and what will be lumpsum payment along with monthly pension

  25. Christopher says

    I have taken new jeevan suraksha 1 policy during 2008. Deferrment period is 28 years and I am paying monthly 500 regularly. On maturity, how much will I get? And how much monthly pension will I get?

  26. Rajendran says

    I am 52 year old and i would like to invest Rs.50,000 as annual premeum for the age 60( ie. 9 years.) wht will be my mothly pension

  27. Krishnadas Chattopadhyay says

    I purchased Money plus with health protection and paid annual premium for 2 years in 2007 and 2008. Due to heavy administrative & other charges, the NAV based fund value is much less than premium paid even on date. When should I get out of the scheme?

  28. OKESY says

    The record are not available for jeevan suraksha plans My policy no 954016964 doc01/12/2001 agent no 15959987 do 0009559 already due but not getting any pension.Neithe ragent nor lic br is contacting me and helping to solve the isse help reqd.okesys

  29. gowri shankhar says

    I am planning to take Jeevan Suraksha policy from Jan 2011 .I am planning to pay an annual premium of around Rs 10,000 . What will be monthly pension and what will be lumpsum payment along with monthly pension.

  30. gowri shankhar says

    I am planning to take Jeevan Suraksha policy from Jan 2011 for next 20 years. I am planning to pay a annual premium of around Rs 25,000. What will be monthly pension and what will be lumpsum payment along with monthly pension.

  31. dhanrajsingh says

    I have taken Jeevan Suraksha policy in NOV 2003 and my last premium will be March 2016. My annual premium was Rs 10,000 which I have been paying regularly. What will be monthly pension and what will be lumpsum payment along with monthly pension.
    REGARDS

  32. KUNDALA SRINIVAS RAO says

    I have taken Jeevan Suraksha plan-1 No643049394 dt 22.01.2004 and my last premium will be 22.01.2011. My annual premium was Rs 10,000 which I have been paying regularly. What will be monthly pension and what will be lump sum payment along with monthly pension.

  33. suravarjula says

    sir
    Under Jeevan suraksha policy ITax rebate has been removed u/s section 80ccc if it is re introduced let me know following
    a) which date
    b) which section
    please give details
    iam claiming under only 80c.
    thankin you

  34. pravin soni says

    my birth date is 20/07/1971
    a want to pay 10,000 early prm for jeevan surakhsa – 1 for 11 years
    my question is what i will be get monthly pension after 11 years(after my age 50).

  35. manojktewari says

    A 20 year old person presently single wants to know if he takes a New Jeevan suraksha policy now for 35 years and pays an annual premium of Rs.36000/- what will be the pension and other benefits he will get when the policy matures?what will be pension his spouse( in future) or nominee will get?

  36. Ravi says

    I have taken New Jeevan Suraksha – 1 plan with our life cover. How bonus calculated for this? I beleive bonus is based on Sum assured. In case if no sum assured opted how this is calculated. What is the difference between with SA and withour SA. I think I did a mistake by not opting life cover. Suggest me.

  37. BHAMBHANI.J.G says

    I have Jeevan Surakhsha-I and paid premium for 3 yars regularly since las three years i.e Rs 10000 per year. Now can anybody guide me if I want to increase my premium what procedure I have to follow. Shall I withdraw entire policy and take new policy with increased premium or a topup is permissible.

  38. Nisha upadhyay says

    I have taken New Jeevan Suraksha policy-1 [T.No. – 147] for 14 years in February, 2002 and my last premium done in february 2015. My annual premium was Rs 10,011/- which I have been paying regularly. What will be monthly pension and what will be lumpsum payment along with monthly pension. Can i take this payment on lumpsum basis. kindly tell me how much. or can i take some years pension plan and after that i want lumpsum full payment. please reply solutions of my problem. how much on pension i will receive .

    Please explain

    Awaiting for your reply

  39. Moni says

    Nobody bothered about the people who got the policies. No reply for the queries. If somebody wishes to take a policy then all the brokers come an discuss the benefits. I also took the New Jeevan Suraksha-I (Table No.147). For 25 years in 2004. Annually I need to pay Rs.10001/- as Premium. I may have to pay my last premium in 2029. I dont know I will be alive by that time or not. I am in need of following details
    1.If I die in between….What would be amount payed to my family?
    2.If I successfully pay the premium unil 2029, how long LIC will pay me the Pension?
    3.If I successfully pay the premium unil 2029, how much/per month LIC will pay me Pension?
    4.If I want to surrender the policy in 2010, how much money I get?

    These are the basic queries of every customer who takes these pension policies. Still the Policy providers do not mention these details on their policy papers. More over, they give a lot of statutory statements that nobody (except a lawer/auditor) understands. This sometimes makes the customer a fool if the person who offers the policy gives wrong information. The innocent guy has to go with the broker(even he is a cheater) as the statements written on policy papers are not understandeable to a common man. I dont know when the people come into real service of customers with more clarity.

  40. Syed S says

    I am an NRI and am interested in taking Jeeven Suraksha, can anybody let me know how i can do that?
    Thanks

    • Tabrej says

      Yes, you can buy Jeevan Suraksha 1 plan while on your visit on India or you can buy it through mail order business.

  41. prashant rathore says

    hi ,
    im 28yr old and lookin for a pension plan in which i can invest one time (single premium). i want my pension start after 15 to 20 years. please suggest a good plan.
    thanks

  42. tayalsinghsudan says

    Respected Sir/madam

    At my present age is 47 yrs & date of birth is 12 Jul 1962 which is the best policy to save from tax and money benefit. What amount and for how many yrs I have to invest.

    • Tabrej says

      All the policies will give you tax benefit but I guess you need a combination of ULIP Plan and traditional plan.

  43. Umesh Goyal says

    I have taken New Jeevan Suraksha policy [T.No. – 147] for 7 years in January, 2003 and my last premium have done in January 2009. My annual premium was Rs 10,001/- which I have been paying regularly. What will be monthly pension and what will be lumpsum payment along with monthly pension. Can i take this payment on lumpsum basis. kindly tell me how much. or can i take some years pension plan and after that i want lumpsum full payment. please reply solutions of my problem.

    Thanks
    Umesh Goyal
    14/94, Shipra Path, Mansarovar, Jaipur
    094140-50906 [M]

  44. vijendra narayan kodihal says

    My question is as follows:
    I have taken Jeevan Suraksha policy in April 1996 and my last premium will be March 2011. My annual premium was Rs 10,000 which I have been paying regularly. What will be monthly pension and what will be lumpsum payment along with monthly pension.

    Reply

  45. sowmini says

    i have taken one jeevansuraksha policy during march 2000 for 17 years @4788 per year. can i prematurely close this and if so how much in lumpsom i get

    • Tabrej says

      32 years age can have min. 8 years Deferment Period and yearly premium would Rs. 56,121 for Notional Cash Rs.5 lakh

  46. kalaivani says

    my question is i am intersted to put LIC jeevan suraksha policy in my husband name now he is age on 32 if i am putting 50000/- pa for 5 years & how much i will get in the age of 58 & how much on pension i will receive in the age of 58

    Please explain

    Awaiting for your reply

  47. R S Mehrotra says

    What are the income tax implications on the monthly pension as well as the commuted part of the pension received under Jeevan Suraksha? Are both taxable OR is only the monthly income taxable?

  48. Vipon Chopra says

    My question is as follows:
    I have taken Jeevan Suraksha policy in April 1996 and my last premium will be March 2011. My annual premium was Rs 10,000 which I have been paying regularly. What will be monthly pension and what will be lumpsum payment along with monthly pension.

    • Shashi Manchanda says

      I had policy no.471185749 with TABLE 147-10years with yearly 10,000/-(19.01.2004 to 19.01.2013) I have not so-far received the OPTION-Letter. My Pension start from 19.01.2014. Please respond.

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