LIC Jeevan Pramukh 167 was a high sum assured, limited premium endowment plan launched in 2004 and later withdrawn. The minimum cover was ₹5 lakh, and guaranteed additions of ₹50 per ₹1,000 were credited for the first five years. Our estimate for a 35-year-old with ₹10 lakh cover, a 20-year term and 5 years of premium is about ₹1,41,036 a year, with a guaranteed maturity of ₹12.5 lakh.
Jeevan Pramukh 167 Premium & Maturity Calculator
Your estimate
- Premium per instalment
- ₹1,41,036
- Total premium paid
- ₹7,05,180
- Guaranteed additions₹50 per ₹1,000 SA for the first 5 years
- ₹2,50,000
- Death benefitafter year 5: sum assured + guaranteed additions (+ loyalty addition, if any)
- ₹12,50,000
- Age at maturity
- 55 years
- Total premium paid₹7,05,18056%
- Net gain₹5,44,82044%
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 Jeevan Pramukh Plan 167?
LIC Jeevan Pramukh (Plan 167, UIN 512N226V01) was a high sum assured endowment plan with a short premium paying term. LIC launched it in 2004 for people who wanted a large cover, starting at ₹5 lakh, and preferred to pay for only a few years. The policy then ran for a much longer term. Guaranteed additions in the early years added a fixed amount to the eventual payout.
The plan was withdrawn several years later. Published sources disagree on the exact dates, so we do not state them here. If you hold a policy, the dates in your bond are the ones that count.
Jeevan Pramukh 167 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 167 / 512N226V01 |
| Plan type | Limited premium, high sum assured endowment |
| Minimum sum assured | ₹5,00,000 |
| Premium paying term (calculator) | 3, 4 or 5 years |
| Policy term (calculator) | 15, 20, 25 or 30 years |
| Guaranteed additions | ₹50 per ₹1,000 SA a year, first 5 years |
| Riders | Accident and disability riders were available |
| Status | Withdrawn |
Tip: descriptions of this old plan vary between sources. Some mention yearly survival payouts, others do not. Before relying on any figure, match the calculator settings to the policy term and premium term printed on your bond.
How the premium is calculated
The calculator starts from a rate per ₹1,000 of sum assured for each combination of premium term and policy term. Our source’s rates did not change with age, which is not realistic. We added an age adjustment based on expected death costs over the term. It is small for people in their 30s and larger after 45. There is no GST, as life premiums are exempt from 22 September 2025.
Worked examples:
- Age 35, ₹10 lakh, 20-year term, 5 years of premium: about ₹1,41,036 a year, or ₹7,05,180 in total.
- Age 40, ₹5 lakh, 15-year term, 3 years of premium: about ₹1,56,481 a year, or ₹4,69,443 in total.
The calculator caps age plus term at 70 years.
Maturity benefit
At maturity you receive the sum assured + guaranteed additions, plus any loyalty addition LIC declares. The ₹10 lakh example has ₹2,50,000 of guaranteed additions, so the guaranteed maturity is ₹12,50,000 against ₹7,05,180 paid. The ₹5 lakh example guarantees ₹6,25,000. If you know the loyalty addition declared for your policy, enter it to see the full figure. Our maturity calculator helps compare this with other plans.
Death benefit
If the life assured dies during the term, the nominee receives the sum assured plus the guaranteed additions accrued up to that point. Any loyalty addition declared is also paid. Because premiums stop early, full cover continues for the rest of the term without further payments.
Loan and surrender
As with other LIC traditional plans of that era, loans and surrender were allowed once the policy acquired a surrender value. Given the large premiums involved, surrendering early usually returns much less than you paid. Consider a loan first.
Tax benefits
Premiums were deductible under Section 123 of the Income-tax Act, 2025 (earlier Section 80C). The maturity and death proceeds are generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)), subject to the conditions that applied at issue.
Similar plans today
Jeevan Pramukh has no direct replacement. The older Jeevan Shree I used a similar guaranteed-addition design. For a current limited premium endowment, compare Jeevan Labh 736.
Frequently asked questions
Can I still buy LIC Jeevan Pramukh 167?
No. Jeevan Pramukh was withdrawn years ago and cannot be bought today. Sources disagree on the exact closing date, so check your policy bond if you need it. Existing policies continue on their original terms.
What was special about Jeevan Pramukh?
It targeted buyers wanting a large cover with a short payment period. The minimum sum assured was ₹5 lakh, you paid for only a few years, and guaranteed additions were credited in the first five policy years.
How much are the guaranteed additions in Jeevan Pramukh?
The calculator uses ₹50 per ₹1,000 sum assured for each of the first five years, as described in our source. On ₹10 lakh that adds ₹2,50,000 by the end of year five. The additions are paid with the sum assured at maturity or on death.
What is the premium for ₹10 lakh in Jeevan Pramukh?
Our estimate for a 35-year-old choosing a 20-year term and 5 years of premium is about ₹1,41,036 a year, ₹7,05,180 in total. Shorter premium terms mean higher yearly premiums. A 3-year payment on a 15-year term is much steeper.
Is the maturity of Jeevan Pramukh tax-free?
Premiums qualified under Section 123 (earlier 80C). Maturity proceeds are generally exempt under Schedule II (earlier Section 10(10D)), subject to the premium-to-sum-assured conditions that applied when the policy was issued. Check with a tax adviser for your case.
Is GST charged on the Jeevan Pramukh premium now?
No. Individual life insurance premiums have been exempt from GST since 22 September 2025. That matters only if your policy still has premiums due; most Jeevan Pramukh policies finished paying long ago.
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.