LIC Jeevan Rekha is an old money-back whole life plan, launched on 22 July 2002 and now closed to new buyers. It covers you for life and pays 10% of the sum assured every five years, while the full sum assured plus bonuses goes to the nominee on death. A 35-year-old with ₹5 lakh cover paying for 20 years pays about ₹31,000 a year, with no GST, and receives ₹50,000 every five years.
Jeevan Rekha Premium & Survival Benefit Calculator
Your estimate
- Premium per instalment
- ₹31,000
- Total premium paid
- ₹6,20,000
- Survival benefits received by age 80
- ₹4,50,000
- Death cover after 20 yearsfull sum assured + bonus; earlier survival payouts are not deducted
- ₹8,00,000
- Premium paying term
- 20 years
- Total premium paid₹6,20,00058%
- Survival benefits by age 80₹4,50,00042%
Survival benefit and death cover by policy year
| Policy year | Age at entry | Survival benefits (money back) | Total received | Death benefit |
|---|---|---|---|---|
| 5 | 40 years | ₹50,000 | ₹50,000 | ₹5,75,000 |
| 10 | 45 years | ₹50,000 | ₹1,00,000 | ₹6,50,000 |
| 15 | 50 years | ₹50,000 | ₹1,50,000 | ₹7,25,000 |
| 20 | 55 years | ₹50,000 | ₹2,00,000 | ₹8,00,000 |
| 25 | 60 years | ₹50,000 | ₹2,50,000 | ₹8,75,000 |
| 30 | 65 years | ₹50,000 | ₹3,00,000 | ₹9,50,000 |
| 35 | 70 years | ₹50,000 | ₹3,50,000 | ₹10,25,000 |
| 40 | 75 years | ₹50,000 | ₹4,00,000 | ₹11,00,000 |
| 45 | 80 years | ₹50,000 | ₹4,50,000 | ₹11,75,000 |
| 50 | 85 years | ₹50,000 | ₹5,00,000 | ₹12,50,000 |
| 55 | 90 years | ₹50,000 | ₹5,50,000 | ₹13,25,000 |
| 60 | 95 years | ₹50,000 | ₹6,00,000 | ₹14,00,000 |
| 65 | 100 years | ₹50,000 | ₹6,50,000 | ₹14,75,000 |
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 Rekha?
LIC Jeevan Rekha (UIN 512N211V01) is a with-profit whole life plan with a money-back feature. It covers the policyholder for life. Every five years it pays 10% of the sum assured as a survival benefit, and on death the nominee receives the full sum assured plus bonuses, with no deduction for payouts already made.
LIC launched Jeevan Rekha on 22 July 2002. It is no longer sold. Existing policies continue, and this calculator helps holders see their premium and payout pattern.
Jeevan Rekha at a glance
| Feature | Details |
|---|---|
| UIN | 512N211V01 |
| Plan type | Money-back whole life, with profits |
| Entry age | 13 to 65 years |
| Minimum sum assured | ₹2,00,000 (no upper limit) |
| Premium payment | Single, 5 to 25 years, or whole life |
| Survival benefit | 10% of SA every 5 years |
| Death benefit | Full SA + bonuses |
| Surrender | After 3 years |
| Status | Discontinued |
How the premium is calculated
The premium is a percentage of the sum assured that rises with age and falls with longer payment terms. Two points in our source’s rate table dipped with age, which cannot be right, so we smoothed them. The calculator adds no GST, as life premiums are exempt from 22 September 2025.
Worked examples:
- Age 35, ₹5 lakh, paying for 20 years: about ₹31,000 a year, ₹6,20,000 in total.
- Age 35, ₹2 lakh, paying for 25 years: about ₹10,400 a year.
- For ₹10 lakh at age 35: single premium about ₹5,53,000, or about ₹38,000 a year if paid for life.
Survival benefit and death cover
In the ₹5 lakh example you receive ₹50,000 every five years. By age 80 that adds up to ₹4,50,000. The table under the calculator shows each payout and your age when it arrives.
If death occurs after 20 years, the nominee receives about ₹8,00,000: the full ₹5 lakh plus ₹3 lakh of bonus, assuming an illustrative ₹30 per ₹1,000 a year. Enter the rate from your bonus statement for a closer figure.
Tip: Jeevan Rekha works best as a legacy plan. The regular payouts are modest, but the undiminished death cover means your family still gets the full sum assured and bonuses, however long you live.
Surrender and loan
Surrender is possible after three years, but early surrender returns only a fraction of the premiums paid. A policy loan is usually a better way to raise cash. Use our surrender value calculator for a rough estimate.
Tax benefits
Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime). Survival benefits and the death claim 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 for the year the policy was issued.
What to consider today
For lifelong cover with regular income, LIC’s current Jeevan Umang 745 pays yearly survival benefits after the premium term. If you want payouts within a fixed term instead, see the money back policy calculator.
Frequently asked questions
Is LIC Jeevan Rekha still available?
No. Jeevan Rekha is discontinued and cannot be bought today. It was launched on 22 July 2002. We could not confirm a reliable closing date, so we do not give one. Existing policies continue for life on their original terms.
How often does Jeevan Rekha pay money back?
It pays 10% of the basic sum assured at the end of every five policy years while the policyholder is alive. On a ₹5 lakh policy that is ₹50,000 every five years, for as long as the policy runs.
Are survival benefits deducted from the Jeevan Rekha death claim?
No. The nominee receives the full basic sum assured plus accrued bonuses, even if several survival payouts were already made. This is the plan's main attraction compared with a normal money back policy.
What is the Jeevan Rekha premium for ₹5 lakh?
Our calculator estimates about ₹31,000 a year for a 35-year-old paying for 20 years. The same cover costs about ₹2,76,500 as a single premium, or about ₹19,000 a year if paid for life. Actual policy premiums may differ.
What are the premium payment options in Jeevan Rekha?
You could pay a single premium, pay for a limited period of 5, 10, 15, 20 or 25 years, or pay throughout life. Yearly, half-yearly, quarterly and monthly modes were available for regular payment.
Do I pay GST on Jeevan Rekha premiums now?
No. Individual life insurance premiums are GST-exempt from 22 September 2025. Receipts from earlier years include GST at 4.5% in the first year and 2.25% after, which is why they look higher.
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.