LIC Jeevan Rakshak 827 was a small-cover, with-profit endowment plan sold from 19 August 2014 to 1 November 2019. Cover ran from ₹75,000 to ₹2 lakh for 10 to 20 years, and maturity paid the sum assured plus a loyalty addition. A 30-year-old with ₹2 lakh cover for 15 years pays about ₹13,720 a year, with no GST, and could receive about ₹2.3 lakh at maturity.
Jeevan Rakshak 827 Premium & Maturity Calculator
Your estimate
- Premium per instalment
- ₹13,720
- Total premium paid
- ₹2,05,800
- Loyalty addition (estimate)
- ₹30,000
- Death benefit in first 5 years
- ₹2,00,000
- Death benefit after 5 yearsin the last policy year, incl. loyalty addition if declared
- ₹2,46,090
- Age at maturity
- 45 years
- Total premium paid₹2,05,80089%
- Net gain₹24,20011%
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 Rakshak Plan 827?
LIC Jeevan Rakshak (Plan 827, UIN 512N289V01) is a non-linked, with-profit endowment plan designed for small sums assured. You pay premiums for the whole term. The policy returns the sum assured at maturity, plus a loyalty addition if LIC declares one. It was on sale from 19 August 2014 until 1 November 2019.
The plan was popular in rural and semi-urban areas because cover was capped at ₹2 lakh and standard healthy lives could usually join without a medical test.
Jeevan Rakshak 827 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 827 / 512N289V01 |
| Entry age | 8 to 55 years |
| Maximum maturity age | 70 years |
| Policy term | 10 to 20 years |
| Premium paying term | Same as policy term |
| Sum assured | ₹75,000 to ₹2,00,000 |
| Premium modes | Yearly, half-yearly, quarterly, monthly |
| Loan | After 3 full years of premium |
| Status | Withdrawn from 1 November 2019 |
How the premium is calculated
The calculator applies a rate per ₹1,000 of sum assured based on your age and term. It then:
- deducts ₹1.50 per ₹1,000 for covers of ₹1.5 lakh or more;
- gives a 2% rebate for yearly and 1% for half-yearly payment;
- adds no GST, as life premiums are exempt from 22 September 2025.
Worked example: a 30-year-old taking ₹2 lakh for 15 years pays about ₹13,720 a year, or ₹2,05,800 over the term. A 40-year-old with ₹1 lakh cover for 20 years, paying monthly, pays about ₹525 a month (₹6,300 a year).
Maturity benefit
Maturity = basic sum assured + loyalty addition (if declared). LIC fixes the loyalty addition only at maturity, based on its experience, so the calculator lets you enter a rate. At ₹150 per ₹1,000, the ₹2 lakh example matures at ₹2,30,000. The ₹1 lakh, 20-year example matures at about ₹1,15,000, slightly less than the ₹1,26,000 paid. That is typical of a small, protection-first endowment. Most of the value lies in the life cover during the term, not in the return.
Tip: if you hold this policy, keep paying unless money is very tight. Surrendering gives up the loyalty addition entirely. Check our surrender value calculator before you decide.
Death benefit
The sum assured on death is the highest of the basic sum assured, 10 × the annualised premium, or 105% of premiums paid. For the ₹2 lakh example, that is ₹2,00,000 in the early years. In the last policy year the 105% floor lifts it to about ₹2,16,090. A loyalty addition is added if death occurs after five policy years, taking the illustrative figure to ₹2,46,090.
Loan, surrender and paid-up value
A loan is available after three full years of premium. The policy can be surrendered after the same point, but no loyalty addition is paid on surrender. Stopping premiums after three years converts the policy to a reduced paid-up value.
Tax benefits
Premiums count under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime). 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)).
What to buy instead
Jeevan Rakshak has no direct successor. Men who hold an Aadhaar card can look at Aadhaar Stambh 943, another small-cover endowment. Anyone else can compare New Endowment Plan 714. If protection is the main goal, a term plan gives far more cover for the same money.
Frequently asked questions
Is LIC Jeevan Rakshak 827 still available?
No. LIC sold Jeevan Rakshak from 19 August 2014 and closed it to new business from 1 November 2019. Existing policies continue with their original benefits until maturity or claim.
What was the sum assured limit in Jeevan Rakshak?
The basic sum assured was between ₹75,000 and ₹2,00,000 per life. The plan was aimed at people who wanted modest cover, usually without a medical test for standard healthy lives.
What is the premium for ₹2 lakh in Jeevan Rakshak 827?
Our calculator estimates about ₹13,720 a year for a 30-year-old taking ₹2 lakh for 15 years, yearly mode. That includes the ₹1.50 per ₹1,000 rebate for covers of ₹1.5 lakh and above and the 2% yearly-mode rebate.
How is the maturity value of Jeevan Rakshak calculated?
Maturity is the basic sum assured plus a loyalty addition, if LIC declares one. The loyalty addition is fixed only when the policy matures. At an illustrative ₹150 per ₹1,000, ₹2 lakh cover would receive ₹30,000, making ₹2.3 lakh in total.
What is the death benefit in Jeevan Rakshak?
The sum assured on death is the highest of the basic sum assured, 10 times the annualised premium, or 105% of premiums paid. If death happens after five policy years, a loyalty addition may be added.
Is there GST on Jeevan Rakshak premiums now?
No. Since 22 September 2025, individual life insurance premiums are GST-exempt. Before that, LIC added 4.5% in the first year and 2.25% on renewals, which is why older receipts show a higher total.
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.