LIC Amulya Jeevan I (Plan 190, UIN 512N250V01) was a pure term insurance plan sold from 18 February 2008 to 1 January 2014. It paid the sum assured only on death during the term, with nothing on survival. Minimum cover was ₹25 lakh for terms of 5 to 35 years. Our estimate for a 30-year-old taking ₹25 lakh for 25 years is about ₹9,650 a year, with no GST on top.
Amulya Jeevan I 190 Term Premium Calculator
Your estimate
- Premium per instalment
- ₹9,650
- Total premium paidover the full term
- ₹2,41,250
- Estimated maturity amountpure term plan: nothing is paid on survival
- ₹0
- Cover till age
- 55 years
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC Amulya Jeevan I Plan 190?
LIC Amulya Jeevan I (Plan 190) was LIC’s high-cover term insurance plan of the late 2000s. It was launched on 18 February 2008 (UIN 512N250V01), replacing the earlier Amulya Jeevan (Plan 177), and was withdrawn on 1 January 2014. Its successor was Amulya Jeevan II (Plan 823).
The idea is simple. You pay a small premium, and if you die during the term, your nominee receives the full sum assured. There is no savings element, no bonus and no maturity payout. This page is for people who still hold a 190 policy, or who want to check what they are paying for.
Amulya Jeevan I at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 190 / 512N250V01 |
| Plan type | Non-linked, without-profit pure term assurance |
| Sold | 18 Feb 2008 to 1 Jan 2014 |
| Entry age | 18 (completed) to 60 (nearest birthday) |
| Maximum age at end of cover | 70 years |
| Policy term | 5 to 35 years |
| Minimum sum assured | ₹25,00,000 (no upper limit) |
| Premium modes | Yearly, half-yearly or single premium |
| Maturity, surrender, loan | None |
| Free-look period | 15 days |
How the premium is worked out
LIC charges a fixed rate for every ₹1,000 of cover. The rate rises with age and with the length of the term. The calculator above uses the plan’s age-and-term chart and fills in the ages between the published bands. Then:
- Half-yearly instalments carry a 2% loading over the yearly premium.
- Single premium is a one-time payment. Our figure is an estimate based on the yearly premiums, not LIC’s own single-premium chart. For covers of ₹1 crore and above, the plan gave a single-premium discount of ₹0.50 per ₹1,000.
- No GST: individual life insurance premiums are GST-exempt from 22 September 2025. Before that, term premiums carried 18% GST.
Worked example. A 30-year-old takes ₹25 lakh for 25 years on yearly mode. The estimated premium is ₹9,650 a year, and that is the full amount due. Under the 18% GST that applied before 22 September 2025, the same premium cost ₹11,387. Over 25 years, the premiums add up to ₹2,41,250. The single-premium estimate for the same cover is about ₹1,30,761.
A second case: a 40-year-old buys ₹50 lakh for 20 years and pays half-yearly. The yearly premium is about ₹26,300. Each half-yearly instalment is ₹13,413.
Tip: age matters more than term here. At age 25, ₹25 lakh for 20 years costs about ₹6,875 a year. At age 35, the same cover costs about ₹10,250.
Death benefit
If the life assured dies during the term while the policy is in force, LIC pays the full sum assured to the nominee in one lump sum. There is no reduction for the number of years already paid.
What happens at the end of the term?
Nothing is paid. The cover stops on the maturity date, and the premiums are not returned. This is normal for a pure term plan. It is also why a 190 policy costs a fraction of an endowment policy with the same cover.
Lapse and revival
The plan has no surrender value or loan. If a premium is missed and not paid within the grace period, the cover lapses. You could revive it within five years of the first unpaid premium by paying all arrears with interest and giving evidence of continued good health.
Tax benefits
Premiums count towards the Section 123 of the Income-tax Act, 2025 (earlier Section 80C) deduction (old regime, up to ₹1.5 lakh a year). The death benefit is tax-free in the nominee’s hands under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)).
Should you keep an old Amulya Jeevan I policy?
Most 190 policies bought after 2008 are still running. If yours is in force, it is usually worth keeping. Your premium was fixed at the age you entered, and a new term plan bought today would cost more at your current age. Check that your nominee details are up to date.
If you need more cover than you have, compare quotes with our LIC term plan calculator or look at LIC New Tech-Term 954.
Amulya Jeevan I (190) vs Amulya Jeevan II (823)
Plan 823 replaced 190 in February 2014. The core rules stayed the same: age 18 to 60, cover up to age 70, terms of 5 to 35 years and ₹25 lakh minimum. The main differences were lower premium rates in 823 and the removal of the single premium option, so 823 was yearly or half-yearly only.
How to use this calculator
- Enter the age at entry.
- Set the policy term. The age limit adjusts so cover ends by 70.
- Enter the sum assured (₹25 lakh or more).
- Choose the premium mode.
- Read the premium, instalment and total outgo. All figures are estimates.
Frequently asked questions
Is LIC Amulya Jeevan I Plan 190 still available?
No. LIC stopped selling Plan 190 on 1 January 2014. Policies bought before that date stay valid until the term ends, as long as premiums are paid. New buyers should look at LIC's current term plans such as New Tech-Term or Yuva Term.
What does Amulya Jeevan I pay at maturity?
Nothing. It is a pure term plan, so the sum assured is paid only if the life assured dies during the policy term. If the policyholder survives, the cover simply ends and no premium is returned. That is why the premium is low for such a large cover.
What was the minimum sum assured in Plan 190?
The minimum sum assured was ₹25,00,000, chosen in multiples of ₹1,00,000. There was no upper limit, though large covers needed medical and financial underwriting.
How much premium did Amulya Jeevan I cost?
By our estimate from the rate chart, a 30-year-old choosing ₹25 lakh for 25 years pays about ₹9,650 a year. At age 40 with ₹50 lakh for 20 years it is about ₹26,300 a year. Use the calculator for your exact age and term.
Does Amulya Jeevan I have surrender value or loan?
No. The plan had no surrender value, no paid-up value and no loan facility. If you stop paying, the cover lapses. A lapsed policy could be revived within five years with proof of good health and the overdue premiums plus interest.
Is the death claim under Plan 190 taxable?
Premiums qualify for deduction under Section 123 (earlier 80C) in the old tax regime. The death benefit received by the nominee is exempt from tax under Schedule II (earlier Section 10(10D)).
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.