LIC Jan Suraksha Plan 880 is a micro insurance plan from Life Insurance Corporation of India that offers life cover and savings for low-income families. Launched on October 15, 2025, this non-linked, non-participating plan provides guaranteed benefits with easy premium payments.

What is LIC Jan Suraksha Plan 880?

This plan gives protection to your family if something happens to you and a lump sum at maturity if you survive the term. It suits people aged 18 to 55 who want affordable insurance with savings. Premiums are paid for a shorter period than the policy term, like 7 to 15 years for terms of 12 to 20 years.

The plan has no withdrawal date mentioned yet, as it is new in 2026. Benefits include death cover of the higher of the basic sum assured or 7 times the annual premium, plus guaranteed additions each year.

Key Features and Eligibility

The minimum basic sum assured is Rs 1,00,000 and the maximum is Rs 2,00,000, in multiples of Rs 5,000. Policy term ranges from 12 to 20 years, with premium paying term (PPT) as policy term minus 5 years.

• Minimum age at entry: 18 years (completed).
• Maximum age at entry: 55 years (53 for offline via POSP-LI).
• Maximum maturity age: 70 years (65 for offline).

You can buy it online for an extra 1% guaranteed addition or offline. Riders like accidental death benefits are available online only.

Benefits Explained Simply

On death during term, the nominee gets the Sum Assured on Death (higher of the basic SA or 7x the annualized premium) plus all accrued guaranteed additions. The minimum is 105% of premiums paid excluding taxes.

At maturity, you get basic sum assured plus guaranteed additions. Guaranteed additions are 4% of the annualized premium per year, plus incentives: 0.25% extra for Rs 2 lakh SA, 1% extra for online buy.

The accidental rider pays extra sum assured on accidental death or disability in installments.

How the Calculator Works

The LIC Jan Suraksha Plan 880 calculator helps estimate premiums and payouts. Enter age, sum assured (1-2 lakh), policy term (12-20 years), and payment frequency on LIC site or tools like Policybazaar.

It shows yearly/monthly premium, total premiums, guaranteed additions, and maturity/death benefit. For example, additions = 4% of annual premium x years, adjusted for incentives.

Use the official LIC calculator at licindia.in for accuracy. Third-party ones like liccalculator.xyz give quick views but verify with LIC.

Sample Premium Table

Here is a table of sample annual premiums (excluding taxes) for Rs 1,00,000 sum assured, via agents:

Age	Policy Term 12 (PPT 7)	Policy Term 15 (PPT 10)	Policy Term 20 (PPT 15)
25	13270	9015	5800
35	13325	9080	5900
45	13530	9340	6250
55	14150	10035	nan

Premiums rise with age and shorter terms. Online may be lower due to incentives.

Step-by-Step Use of Calculator

Go to the LIC website, select the premium calculator, and choose Jan Suraksha 880. Input name, DOB, sum assured, term, PPT, and frequency.

Click calculate to see the premium chart, maturity value, and death benefit. Adjust values to fit budget. Save or print for agent discussion.

For maturity, for example, Rs 1 lakh SA, 15-year term, age 35, PPT 10. Annual premium ~Rs 9,080. Additions ~Rs 3,632 (4% x 9080 x 15). Maturity: ~Rs 1,00,000 + 36,320 = Rs 1,36,320 plus incentives.

Other Important Terms

Grace period: 30 days for yearly, 15 for monthly. Paid-up after 1 premium: benefits reduce. Auto cover after 3 premiums.

Loan after 1 year: 80% surrender value at 9.5% interest. Surrender after 2 years for GSV. Free look: 30 days refund minus stamp/risk.

Revival within 5 years with interest. Suicide clause: 80% premiums back if within 12 months.

Example Calculations

Take age 30, Rs 1.5 lakh SA, 15-year term (PPT 10), annual pay. Premium approx Rs 13,500 (estimate). Annual addition Rs 540 (4%). Total additions Rs 8,100. Maturity Rs 1.5L + 8,100 + incentives ~Rs 1.6L+.

Death benefit: The higher of 1.5L or 7×13,500=94,500, so 1.5L + additions till death.

Use a calculator for your numbers. Higher SA gets more additions.

Riders and Add-ons

LIC Accidental Death & Disability Rider (online only). Pays extra on accidental death within 180 days or disability in 10-year installments and waives future premiums.

Not available offline. Adds protection for a nominal extra premium.

How to Buy the Plan

Visit licindia.in, use the calculator, apply online or find an agent. Offline via branches/intermediaries. Need ID proof, age proof, and bank details.

Online gets an extra 1% GA. Check LIC official page.

Tax Benefits

Premiums qualify under Section 80C up to Rs 1.5 lakh. Maturity/death tax-free under 10(10D). Consult advisor for your case.

Common Misconceptions

Not profit-linked, so fixed returns. Not investment-heavy, focus on protection. No withdrawal date as ongoing plan.

Premium Payment Modes

Yearly, half-yearly (2% extra), quarterly (3% extra? check), monthly (6% extra approx). ECS best for ease.

Surrender and Loan Details

Surrender value after 2 premiums. Loan 80% in-force, 70% paid-up. Interest half-yearly.​

Revival and Lapse

Lapse after grace, auto cover if 3+ premiums. Revive in 5 years.

Why Choose This Plan?

Affordable for Rs 500-1400/month, guaranteed returns, family security. Good for rural/low-income.

FAQ

Conclusion

LIC Jan Suraksha Plan 880 with its calculator makes planning easy for a secure future. Use the tool to see benefits fitting your needs; buy soon for protection and savings.