LIC Jeevan Kishore: A good plan to cover children

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 LIC Jeevan Kishore: A good plan to cover children
LIC Jeevan Kishore is an endowment plan from LIC, which is available for children who are less then 12 years old. The policy may be purchased by any of the parent/grand parent.

Commencement of risk cover

According to LIC, the risk commences either after 2 years from the date of commencement of policy or from the policy anniversary immediately following the completion of 7 years of age of child, whichever is later.


Premiums are payable yearly, half-yearly, quarterly or monthly throughout the term of the policy or till earlier death of child, or single premium.


This is a with-profits plan and participates in the profits of the Corporation's life insurance business. It gets a share of the profits in the form of bonuses. Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year.  Once declared, they form part of the guaranteed benefits of the plan. A Final (Additional) Bonus may also be payable provided policy has run for certain minimum period.

Premium Waiver Benefit

This is an optional benefit that can be added to your basic plan.  An additional premium is required to be paid for this benefit. By payment of this additional premium, the proposer can secure the benefit of cessation of premiums from his/her death to the end of the deferment period. The deferment period for this purpose is to be taken as 18 minus age at entry of child.

Surrender Value

Buying a life insurance contract is a long-term commitment.  However, surrender values are available on the policy on earlier termination of the contract.

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