LIC Jeevan Kishore Plan 102 Calculator
Plan Name: LIC's Jeevan Kishore (Table No. 102)
Plan Type: Endowment Assurance Plan for Children
UIN: 512N094V01
Launch Date: Available since early 2000s
Withdrawal Date: 01 January 2014
Calculation Results
LIC Jeevan Kishore Plan 102 is a child endowment insurance plan designed to secure your kid’s future. Parents or grandparents can buy it for children under 12 years old, offering savings, protection, and bonuses over the long term.
What is LIC Jeevan Kishore Plan 102?
This plan works like a savings account with insurance built in. You pay premiums regularly, and in return, your child gets a lump sum at maturity if they survive the term. It also covers death benefits after a risk starts.
The plan launched around the early 2000s and was withdrawn on January 1, 2014, so it’s no longer sold new but existing policies continue. Many families still hold these policies and use calculators to check maturity values.
Risk cover starts later either 2 years from policy start or when the child turns 7, whichever comes later. This protects against early refunds if something happens before then.
Key Features of the Plan
Premiums can be paid yearly, half-yearly, quarterly, monthly, or even as a single lump sum. It’s a with-profits plan, meaning it earns bonuses each year based on LIC’s performance.
Policy terms range from 15 to 35 years, so the maturity age for the child is between 20 and 45 years. The sum assured starts at Rs. 50,000 up to Rs. 40 lakhs.
An optional premium waiver benefit lets you add extra coverage. If the parent (proposer) dies, future premiums stop, but the policy continues till maturity.
Who Can Buy This Plan?
Any parent or grandparent can propose it for a child aged 0 to 12 years (minimum 3 months completed). The child is the life assured.
premium waiver benefit No medical exam is needed for most cases, making it easy for newborns or toddlers. The premium paying term equals the policy term pay till the end or the child’s earlier death.
Benefits Explained Simply
Death Benefit
If the child dies after risk cover starts, you get the sum assured plus vested bonuses in one go. Before the risk starts, LIC refunds premiums paid (minus the first year and extras).
Maturity Benefit
Child survives? They get the full sum assured plus all simple reversionary bonuses plus the final additional bonus (if eligible). This is the big payout for education, marriage, or starting life.
Surrender Value
After 3 years, you can surrender. Guaranteed value is 30% of premiums paid post-risk + 90% pre-risk (excluding first year). LIC often pays higher special value.
The premium waiver rider adds peace if the proposer dies within the deferment period (18 minus the child’s entry age), premiums are waived.
How the Calculator Works
An LIC Jeevan Kishore Plan 102 calculator estimates your maturity amount online. Enter details like sum assured, policy term, entry age, premiums paid, and bonus rates it spits out death, maturity, or surrender values.
These tools use LIC’s bonus history. Simple reversionary bonuses add yearly per Rs. 1000 sum assured (say Rs. 40-50). The final bonus depends on the term completed.
Why use it? Helps plan finances. For old policies, check actual bonuses from your passbook against calculator estimates.
No login is needed on sites like liccalculators.net or policybazaar tools. It’s free and quick.
Sample Premium and Maturity Table
Here’s a table based on LIC’s brochure example for a 10-year-old child, Rs. 1 lakh sum assured, 25-year term, yearly premiums. Assumed bonuses at 6% and 10% investment scenarios (not guaranteed).
| End of Year | Total Premiums Paid | Death/Maturity Benefit (Scenario 1: 6%) | Death/Maturity Benefit (Scenario 2: 10%) |
|---|---|---|---|
| 1 | Rs. 3,635 | Rs. 3,635 | Rs. 3,635 |
| 5 | Rs. 18,175 | Rs. 1,10,500 | Rs. 1,27,500 |
| 10 | Rs. 36,350 | Rs. 1,21,000 | Rs. 1,55,000 |
| 15 | Rs. 54,525 | Rs. 1,31,500 | Rs. 1,82,500 |
| 20 | Rs. 72,700 | Rs. 1,42,000 | Rs. 2,10,000 |
| 25 (Maturity) | Rs. 90,875 | Rs. 1,69,500 | Rs. 2,82,500 |
At maturity, expect around Rs. 1.7-2.8 lakhs for Rs. 1 lakh SA, depending on bonuses. Real returns vary with LIC’s profits.
Step-by-Step: Using the Calculator
- Find an online LIC Plan 102 calculator (search “LIC 102 maturity calculator“).
- Input child’s entry age (e.g., 5 years), term (20 years), sum assured (Rs. 2 lakhs).
- Add annual premium (from policy or estimate Rs. 7,000-8,000 for this).
- Enter bonus rate (check LIC site for your year, avg Rs. 45/1000 SA).
- Click calculate—get maturity estimate, say Rs. 5-6 lakhs after bonuses.
Adjust for actuals. For precision, use your policy number on the official LIC portal if available.
Why Parents Loved This Plan
It built a nest egg safely. Bonuses made it grow beyond premiums. Tax benefits under old Section 80C and 10(10D) applied.
Withdrawal in 2014 led to newer plans, but 102’s deferment on risk gave time to build habits. Great for middle-class families in India saving for kids’ higher studies.
Things to Watch Out For
Returns aren’t high like stocks around 5-6% IRR post-tax. Better for protection than pure investment today.
If surrendering early, loss is possible. Always pay on time for full bonuses.
Similar Plans Today
Post-withdrawal, check LIC Jeevan Tarun or New Children’s Money Back. They offer a similar child focus with updates.
Frequently Asked Questions (FAQs)
When was LIC Jeevan Kishore Plan 102 launched and withdrawn?
Launched early 2000s, withdrawn January 1, 2014.
Can I still calculate maturity for my old policy?
Yes, use online calculators or LIC branch with passbook.
What if child dies before risk cover?
Premiums refunded excluding first year.
Is premium waiver automatic?
No, optional rider pay extra premium.
How do bonuses work?
Yearly simple reversionary final bonus at end.
Minimum sum assured?
Rs. 50,000.
Can grandparents buy it?
Yes, as proposer.
Conclusion
LIC Jeevan Kishore Plan 102 calculator helps you see the value in your child’s policy clearly. Even withdrawn, it’s a solid savings tool for many families check yours today for peace of mind. Plan ahead with estimates to meet future goals smoothly.
