LIC Komal Jeevan Plan 159 Calculator
Child Money Back Plan with Guaranteed Returns | Table No. 159
YEARLY PREMIUM
| Age | % of SA | Amount |
|---|
- Premium calculations are approximate and based on LIC's standard rates
- Guaranteed Additions: ₹75 per ₹1,000 Sum Assured for each completed year
- Loyalty Additions are subject to LIC's declaration and not included in calculations
- Death Benefit: Sum Assured + Accrued Guaranteed Additions (payable after risk commencement at age 7)
- GST and other charges as applicable will be added to the premium
- For exact premium rates, please contact LIC branch or agent
LIC Komal Jeevan Plan 159 is a children’s money-back insurance plan designed to secure a child’s future with life cover and periodic payouts. Launched on February 28, 2003, it was withdrawn by LIC on January 1, 2014, but existing policyholders can still use calculators to track benefits.
LIC Komal Jeevan Plan 159
Komal Jeevan, Table No. 159 (UIN: 512N216V02), targets children aged 0 to 10 years for education and early life needs. Parents or grandparents buy it, paying premiums until the child turns 18. The policy term runs until the child reaches 26 years, matching key life stages like college and marriage.
Risk starts after 2 policy years or when the child turns 7, whichever comes later. It offers guaranteed additions of Rs. 75 per Rs. 1,000 sum assured each year, plus bonuses and loyalty additions. The sum assured ranges from Rs. 1 lakh to Rs. 25 lakhs, with premiums payable yearly, half-yearly, quarterly, monthly, or as a single premium.
For existing policies, understanding calculations helps check maturity or surrender values amid 2026 bonus rates.
Key Features and Eligibility
This plan combines protection and savings with money-back benefits at ages 18, 20, 22, and 24. No medical exam is needed for healthy children, making it easy to start.
Eligibility details:
- Minimum entry age: 0 years (90 days completed).
- Maximum entry age: 10 years.
- Policy term: 26 minus child’s entry age years.
- Premium paying term: 18 minus child’s entry age (minimum 8 years).
- Maximum maturity age: 26 years.
Modes include salary deduction. An optional Premium Waiver Rider waives future premiums if the proposer (parent) dies.​
Benefits Explained
Survival Benefits
On survival, the child gets payouts without the policy ending:
- Age 18: 20% of sum assured.
- Age 20: 20% of sum assured.
- Age 22: 30% of sum assured.
- Age 24: 30% of sum assured.
At age 26 (maturity), guaranteed additions (Rs. 75/₹1,000/year) plus vested bonuses and loyalty additions pay out.
Death Benefits
Before risk starts: Premiums refunded (minus first-year and extras).
After risk starts: full sum assured + guaranteed additions + loyalty additions + bonuses.
If the proposer dies with the rider: Premiums are waived, and benefits continue.
Example from LIC brochure: For Rs. 1 lakh sum assured, death at year 10 post-risk: ~Rs. 1.67 lakh guaranteed.
Maturity Benefit
Lump sum of all additions and bonuses at term end. Illustrations show variability based on investment returns (6% or 10% assumed).
Premium Calculation Basics
Premiums depend on the child’s age, sum assured, and paying term. Use LIC rates plus GST (now 4.5% the first year, 2.25% after).
Illustration from LIC (child age 0, Rs. 1 lakh SA, annual premiums): Rs. 7,281/year for 18 years.
Single premium example: Rs. 73,980 for the same.
To compute: Base premium from tables + modal factors (e.g., quarterly adds 3%) + GST. Tools automate this.
Official brochure: LIC Sales Brochure PDF.
How the Calculator Works
An LIC Komal Jeevan Plan 159 calculator estimates premiums, survival payouts, death benefits, and maturity using inputs like age, sum assured, and bonus rates.
Steps to use:
- Enter child’s entry age (0-10).
- Input sum assured (₹1-25 lakhs).
- Select premium mode.
- Add the current year and assumed bonus (e.g., ₹50/₹1,000 SA from recent scales).
- Compute: Premiums = f(age, SA); GA = ₹75/₹1k/year × years; Bonuses = rate × SA × years; Survival % as above.
It factors paid-up status, surrender, or rider. For 2026, use the latest bonus declarations from licindia.in.
Free tools like liccalculator.xyz provide plan-specific estimates.
Sample Benefit Illustration Table
Here’s a summarized table from LIC’s official illustration for a newborn (age 0), Rs. 1,00,000 SA, annual premium Rs. 7,281 for 18 years (Scenario 2 at 10% return).
| End of Year | Child Age | Total Premiums Paid | Death Benefit (Guaranteed + Variable) | Survival/Maturity Benefit |
|---|---|---|---|---|
| 7 | 7 | ₹50,967 | ₹1,45,000 + ₹3,000 = ₹1,48,000 | – |
| 10 | 10 | ₹72,810 | ₹1,67,500 + ₹11,000 = ₹1,78,500 | – |
| 18 | 18 | ₹1,31,058 | ₹2,42,500 + ₹91,000 | ₹20,000 (20%) |
| 20 | 20 | ₹1,31,058 | ₹2,42,500 + ₹91,000 | ₹20,000 (20%) |
| 22 | 22 | ₹1,31,058 | ₹2,42,500 + ₹91,000 | ₹30,000 (30%) |
| 24 | 24 | ₹1,31,058 | ₹2,42,500 + ₹91,000 | ₹30,000 (30%) |
| 26 (Maturity) | 26 | ₹1,31,058 | – | ₹1,95,000 + ₹1,76,000 = ₹3,71,000 |
Guaranteed additions build to ~₹1,95,000 by maturity.
Surrender and Paid-Up Options
Surrender allowed after 3 years. Before risk: 90% premiums paid (excluding first year/extras). After: 90% pre-risk + 30% post-risk premiums.
Special surrender value often higher, based on projected maturity discounted. Paid-up if premiums stop: Reduced benefits proportional to paid premiums.
Tax Benefits and Riders
Premiums qualify under Section 80C (up to ₹1.5 lakh). Payouts are tax-free under 10(10D).
Riders: Premium Waiver (waived on proposer’s death). No term rider was mentioned, but basic covers child.​
Comparison with New Plans
Post withdrawal, consider LIC New Children’s Money Back Plan (Plan 832) for similar features but updated rates. Komal Jeevan suits legacy policies; new ones offer better bonuses amid the 2026 economy.
FAQ
Is LIC Komal Jeevan still available?
No, withdrawn January 1, 2014, but existing policies continue with benefits.
What if premiums are not paid?
Policy becomes paid up after deferment; reduced SA + bonuses payable.
How to check my policy status?
Use the licindia.in portal or app with the policy number.
Are bonuses guaranteed?
No, reversionary bonuses vest yearly; loyalty at the end. Use the latest scales.​
Can I revive a lapsed policy?
Yes, within 5 years with arrears and interest.
What is the minimum investment?
Rs. 1 lakh sum assured.
Does it cover critical illness?
No, base plan only; add riders if available then.
Conclusion
LIC Komal Jeevan Plan 159 remains valuable for policyholders planning child’s milestones with money-back security and growth via additions/bonuses. Use the calculator table and formulas to project 2026 values accurately. For new needs, explore LIC’s current child plans.
