LIC · Term · Term + Return of Premium
Jeevan Kiran
A term plan with a twist: if you survive the full policy term, LIC refunds all the premiums you paid, instead of paying nothing like a regular term plan.
Product data last fetched 26 August 2026. Features, premiums and availability may change — verify against the official brochure/policy wording before deciding.
The truth card
PurposeProtection
CategoryTerm + Return of Premium
InsurerLIC
Life CoverNot available in the current product data
PremiumNot available in the current product data
Policy TermNot available in the current product data
Premium-Paying TermNot available in the current product data
GuaranteeNot available in the current product data
Market ExposureNot applicable — non-linked
LiquidityNot available in the current product data
Lock-inNot available in the current product data
ChargesNot available in the current product data
Maturity BenefitNot available in the current product data
Death BenefitNot available in the current product data
SurrenderNot available in the current product data
Paid-upNot available in the current product data
Tax NotesDepends on policy structure, premium amount, issue date and applicable tax law — see our tax notes
XIRRNot available in the current product data
What this product is
A term plan with a twist: if you survive the full policy term, LIC refunds all the premiums you paid, instead of paying nothing like a regular term plan.
You might need this if…
- You like the idea of term insurance but dislike the 'if you don't die, you get nothing' feature — this plan returns all your premiums back if you survive to maturity.
- You want a guaranteed, fixed benefit structure (no market-linked or bonus uncertainty) alongside your death cover.
- You want the option to add accident-related riders for extra protection at a low incremental cost.
- You're fine paying a noticeably higher premium than a pure term plan in exchange for getting your money back eventually.
How it actually works
- Minimum basic sum assured ₹15 lakh, no fixed cap; entry age 18–65, policy term 10–40 years, with premium payment matching the policy term (or as a single premium).
- On survival to maturity, you get back the total premiums paid (regular) or the single premium paid (single premium option), excluding taxes and rider costs — not the sum assured.
- On death, the payout is the highest of 7× annualised premium, 105% of premiums paid, or the basic sum assured (for single premium: the higher of 125% of the premium or the sum assured).
- Two optional riders are available: an Accidental Death & Disability Benefit Rider (lump sum plus monthly instalments for disability) and an Accident Benefit Rider (lump sum only, regular premium policies only).
- Buying online earns a rebate — roughly 10% on regular premium, 2% on single premium — plus separate high sum assured rebates of up to 50%.
- Death and maturity benefits can optionally be paid out in instalments over up to 5 years instead of as a lump sum.
Worked example
For a 40-year-old buying ₹50 lakh cover over 20 years, the annual premium is about ₹48,004; on survival to year 20, the plan pays back about ₹9,60,080 in total premiums, while the death benefit throughout stays at the full ₹50 lakh.
Worth knowing before you decide
- The 'maturity benefit' is only a refund of premiums paid, not the sum assured — it's meaningfully more expensive than a pure term plan for the same death cover.
- Surrender is allowed only after two full years of premiums (regular) and pays a guaranteed surrender value well below premiums paid in early years.
- Suicide within 12 months of starting or reviving the policy limits the payout to 80% of premiums paid.
- If premiums lapse after two years, the policy converts to a reduced paid-up status rather than terminating outright.
Official source
⌟ Official product brochure
Learn about this category
Read the full term insurance explainer → · See all protection products →