Jeevan Kiran Plan 870
LIC Jeevan Kiran Plan 870 – is a new term insurance plan by LIC OF INDIA. LIC Jeevan Kiran Plan 870 is a non-linked, non-participating, saving life insurance term insurance plan with return of all premium paid back to the policy holder at the end of the policy term. You can now buy online LIC new jeevan kiran policy 915 through credit card/debit card, net banking, upi and wallets on our LIC’s New Business Platform.
Introduction – Why Jeevan Kiran 870 Matters for Today’s Indians
Every Indian dreams of protecting their family while building some financial backup for the future. Traditional LIC policies like endowment plans combine savings + protection but come with higher premiums. On the other hand, pure term insurance gives large coverage at low cost but nothing back if you survive the policy term.
LIC realized many Indians hesitate to buy term plans because they feel “agar zinda rahe toh paisa waste ho gaya”. To solve this mindset, LIC launched Jeevan Kiran Plan 870 – a Term Insurance with Return of Premium (TROP).
👉 It combines the best of both worlds:
- High life cover protection during the term.
- Premium refund on survival at maturity.
This blog will cover everything you need to know about LIC Jeevan Kiran 870 – from features, benefits, premium tables, investor scenarios, real-life examples, analyst insights, FAQs, and final verdict.
What is LIC Jeevan Kiran Plan 870?
LIC Jeevan Kiran (Plan No. 870, UIN: 512N351V01) is a non-linked, non-participating, individual savings cum protection plan.
It offers:
- Life cover (death benefit) during the policy term.
- Return of premium if you survive till maturity.
This makes it a TROP plan (Term Insurance with Return of Premium) — ideal for Indians who want security without feeling their money is wasted.
Key Features of LIC Jeevan Kiran 870
| Feature | Details |
|---|---|
| Plan Type | Term Insurance with Return of Premium |
| Plan Number | 870 |
| Minimum Entry Age | 18 years |
| Maximum Entry Age | 65 years |
| Maximum Maturity Age | 80 years |
| Policy Term | 10 – 40 years |
| Sum Assured | ₹15 Lakhs – No Upper Limit |
| Premium Payment Options | Regular Pay / Limited Pay (5 & 10 years) |
| Death Benefit | Lump sum to nominee |
| Maturity Benefit | 100% of premiums paid (excluding taxes) |
| Riders | LIC Accident Benefit Rider, LIC Accidental Death & Disability Rider |
| Loan Facility | Available after 2 years (if paid-up value exists) |
| Surrender Value | Allowed (if premiums for 2/3 years paid) |
| Tax Benefits | Premiums eligible u/s 80C, Death benefit under 10(10D) |
Benefits of Jeevan Kiran 870
1. Life Protection
Provides financial security to your family in case of early death.
2. Return of Premium (ROP)
If you survive the term, all premiums (excluding GST/rider premium) are refunded.
3. Flexible Term & Premium Options
Choose 10–40 years policy term and regular or limited premium payment.
4. High Coverage
Minimum cover is ₹15 Lakhs with no maximum limit – making it suitable for both middle-class and high-income groups.
5. Loan Facility
Unlike normal term plans, Jeevan Kiran allows loans after 2 years if policy acquires paid-up value.
6. Tax Savings
Premium payments under Section 80C, and death/maturity proceeds exempt under Section 10(10D).
How Does Jeevan Kiran 870 Work?
Let’s break it with two scenarios:
- Scenario A – Death during policy term:
Nominee gets Sum Assured as death benefit. - Scenario B – Survival till maturity:
Policyholder gets all premiums back (ROP).
Death Benefit in Jeevan Kiran
For Regular/Limited Premium:
- Higher of
- 7 × Annualized Premium OR
- 105% of total premiums paid OR
- Sum Assured on Death (Basic Sum Assured).
For Single Premium (if chosen):
- Higher of
- 125% of Single Premium OR
- Sum Assured.
Tabular Illustration – Jeevan Kiran 870 Premium Examples
Case 1: 30-Year Male, ₹25 Lakh Cover, 20-Year Term
| Premium Option | Annual Premium | Death Benefit | Maturity Benefit |
|---|---|---|---|
| Regular Pay | ₹18,500 | ₹25 Lakh | ₹3,70,000 (ROP) |
| Limited Pay (10 years) | ₹27,000 | ₹25 Lakh | ₹2,70,000 (ROP) |
Case 2: 40-Year Male, ₹50 Lakh Cover, 25-Year Term
| Premium Option | Annual Premium | Death Benefit | Maturity Benefit |
|---|---|---|---|
| Regular Pay | ₹42,000 | ₹50 Lakh | ₹10,50,000 |
| Limited Pay (10 years) | ₹55,000 | ₹50 Lakh | ₹5,50,000 |
Real-Life Investor Scenarios
Scenario 1: Young IT Professional (Age 28)
- Takes ₹25 Lakh cover, 30-year term.
- Pays ~₹20,000 annually.
- If he dies at 45, nominee gets ₹25 Lakh.
- If he survives till 58, he gets back all premiums (~₹6,00,000).
Scenario 2: Businessman (Age 38)
- Takes ₹1 Crore cover, 20-year term.
- Pays ~₹85,000 annually.
- If death occurs in year 12, family receives ₹1 Crore.
- If survives till 58, he gets back ~₹17 Lakh premium.
Scenario 3: Middle-Class Father (Age 35)
- Buys ₹15 Lakh cover, 20-year term.
- Premium ~₹12,000 annually.
- Ensures kids’ education is secure, plus refund at maturity.
Analyst Opinions
- Financial Experts: Jeevan Kiran bridges the trust gap – people hesitant about term insurance find comfort in ROP.
- Insurance Analysts: While premium is higher than pure term plans, the psychological comfort of premium return is huge.
- Caution: Investors should balance Jeevan Kiran with pure term plans for higher coverage at lower cost.
Jeevan Kiran vs Pure Term Insurance
| Feature | Jeevan Kiran 870 | Pure Term Plan (LIC Tech-Term 854) |
|---|---|---|
| Premiums | Higher | Lower |
| Coverage | ₹15 Lakhs – Unlimited | ₹50 Lakhs – Unlimited |
| Maturity Benefit | Yes (Return of Premium) | No |
| Loan Facility | Yes | No |
| Best For | Those who want money back | Those seeking only protection |
Investor Insights & Planning Tips
- Best for cautious investors who want both protection + refund.
- Not ideal as sole insurance for high-income earners (since coverage can be small compared to need).
- Combine with Tech-Term Plan for a balanced portfolio.
Advantages & Limitations of Jeevan Kiran 870
Advantages ✅
- Protection + Savings (ROP).
- Loan facility available.
- Wide policy term (10–40 years).
- Trusted LIC brand.
Limitations ❌
- Premiums are much higher than pure term plans.
- No wealth creation – only return of premiums.
- Not suitable if you want ₹1–2 Crore cover at low cost.
FAQs on LIC Jeevan Kiran 870 (Google-Friendly)
Q1. What is the minimum sum assured under LIC Jeevan Kiran?
👉 ₹15 Lakhs.
Q2. What is the maximum sum assured?
👉 No limit (subject to underwriting).
Q3. Is loan facility available?
👉 Yes, after 2 years (if policy has paid-up value).
Q4. Can NRIs buy Jeevan Kiran?
👉 Yes, subject to LIC rules.
Q5. What if I survive the policy term?
👉 100% of premiums paid (excluding taxes/riders) are refunded.
Q6. Is Jeevan Kiran better than Tech-Term?
👉 Jeevan Kiran is better if you want ROP; Tech-Term is better if you want low-cost pure protection.
Q7. What is the waiting period?
👉 Standard 90-day suicide clause, no general waiting period.
Final Verdict – Should You Buy Jeevan Kiran 870?
LIC Jeevan Kiran 870 is a smart solution for Indians who hesitate to buy term plans because of the “no return” mindset. It ensures:
- High protection during policy term.
- Return of all premiums at maturity.
It is best suited for:
- Salaried & business-class families who want protection + refund.
- First-time life insurance buyers.
- Those who value LIC’s trust and simplicity.
Not ideal for:
- Those who want large coverage at low cost (better go with pure term plans).
👉 In conclusion: Jeevan Kiran 870 is LIC’s way of blending protection + return in one plan – perfect for middle-income Indians who want peace of mind and a money-back guarantee.
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