LIC Jeevan Saathi Plus 197 was a unit-linked joint-life plan for couples, sold from 29 June 2009 to 1 September 2010. Both spouses had life cover, and maturity paid the fund value. Paying ₹50,000 a year for 20 years with a 35-year-old and 33-year-old couple, our projection gives about ₹21.7 lakh at 8% a year and ₹13.6 lakh at 4%. Returns are not guaranteed.
Jeevan Saathi Plus 197 Fund Value Calculator
Your estimate
projected fund value; not guaranteed
sum assured of that life; the policy continues for the survivor
- Total invested
- ₹10,00,000
- Total charges (approx.)
- ₹1,20,409
- Estimated returns
- ₹11,71,291
- Age at maturity
- 55 years
- Total invested₹10,00,00046%
- Estimated returns₹11,71,29154%
Projected fund value by year
| Year | Total invested | Estimated fund value |
|---|---|---|
| 1 | ₹50,000 | ₹36,165 |
| 2 | ₹1,00,000 | ₹88,059 |
| 3 | ₹1,50,000 | ₹1,43,969 |
| 4 | ₹2,00,000 | ₹2,05,556 |
| 5 | ₹2,50,000 | ₹2,71,909 |
| 6 | ₹3,00,000 | ₹3,43,397 |
| 7 | ₹3,50,000 | ₹4,20,413 |
| 8 | ₹4,00,000 | ₹5,03,385 |
| 9 | ₹4,50,000 | ₹5,92,769 |
| 10 | ₹5,00,000 | ₹6,89,060 |
| 11 | ₹5,50,000 | ₹7,92,787 |
| 12 | ₹6,00,000 | ₹9,04,523 |
| 13 | ₹6,50,000 | ₹10,24,881 |
| 14 | ₹7,00,000 | ₹11,54,525 |
| 15 | ₹7,50,000 | ₹12,94,165 |
| 16 | ₹8,00,000 | ₹14,44,569 |
| 17 | ₹8,50,000 | ₹16,06,562 |
| 18 | ₹9,00,000 | ₹17,81,031 |
| 19 | ₹9,50,000 | ₹19,68,931 |
| 20 | ₹10,00,000 | ₹21,71,291 |
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 Saathi Plus Plan 197?
LIC Jeevan Saathi Plus (Plan 197, UIN 512L255V02) is a unit-linked insurance plan (ULIP) that covers two lives, usually a husband and wife, under one policy. Premiums, after charges, buy units in the fund you choose. At maturity you receive the fund value. If either spouse dies during the term, the sum assured on that life is paid.
The plan was sold for just over a year, from 29 June 2009 to 1 September 2010. It closed when new ULIP regulations took effect. If you still hold a policy, the calculator helps you estimate where your fund might stand.
Jeevan Saathi Plus 197 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 197 / 512L255V02 |
| Plan type | Unit-linked, joint life (couples) |
| Premium options | Regular or single |
| Minimum premium | ₹10,000 a year (₹1,000 a month by ECS); single ₹40,000 |
| Policy term | 10 to 20 years |
| Maximum maturity age | 70 years |
| Funds | Bond, Secured, Balanced, Growth |
| Partial withdrawal | After 3 policy years |
| Top-ups | Allowed, in multiples of ₹1,000 |
| Status | Withdrawn from 1 September 2010 |
Sources give the second life’s entry age as either 45 or 55. The calculator accepts 18 to 55 for both spouses, so check the ages in your policy schedule.
How the fund value is projected
Each year the calculator:
- deducts the premium allocation charge: 29% of the first year’s premium up to ₹1.5 lakh (lower for larger premiums), 5% in years two and three, and 2.5% after that. For single premium, about 4%.
- deducts the administration charge of ₹60 a month;
- deducts mortality charges for both lives on the chosen sum assured;
- grows the balance at your expected return, which should be net of fund management charges.
Our source calculator applied the allocation percentages the wrong way round, as if only 5% of later premiums were invested. We corrected that.
Worked example: a couple aged 35 and 33 pay ₹50,000 a year for 20 years, with ₹5 lakh cover each. They invest ₹10,00,000 in total. Charges come to about ₹1,20,409. The projected fund at maturity is about ₹21,71,291 at 8% a year, or about ₹13,62,564 at 4%. A one-time premium of ₹2,00,000 for 15 years projects to about ₹5,21,179 at 8%.
Tip: most of the charge is taken in the first year. That is why surrendering an old ULIP like this early was costly. Now that the policy is well past that stage, staying invested usually costs little.
Death benefit
If one spouse dies during the term, the sum assured on that life is paid. The policy then continues for the survivor, and the fund value is paid at maturity. Keep the nominee details up to date, because the final payment may go to a nominee on the second death.
Surrender and partial withdrawal
After three years you could withdraw part of the fund or surrender the policy for its fund value. Remember that withdrawals reduce the amount available at maturity. Use the surrender value calculator for traditional plans. For this ULIP, the fund statement from LIC is the reliable figure.
Tax benefits
Premiums qualified under Section 123 of the Income-tax Act, 2025 (earlier Section 80C). 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 premium-to-sum-assured rules that applied when the policy was issued.
How it differs from Jeevan Saathi 89
Jeevan Saathi 89 was the traditional joint-life endowment, with bonuses and a guaranteed sum assured at maturity. Jeevan Saathi Plus replaced the bonuses with market-linked fund growth, and it carries the matching risk. For a newer joint-life option, see LIC’s Jeevan Sathi 889. To model a current ULIP, try the ULIP calculator.
Frequently asked questions
Is LIC Jeevan Saathi Plus 197 still sold?
No. It was on sale from 29 June 2009 to 1 September 2010, when the new ULIP rules came into force and LIC withdrew its older unit-linked plans. Existing policies continue as per their terms.
What happens if one spouse dies during the term?
The sum assured on that life is paid, and plan descriptions say future premiums are waived while the policy continues for the surviving spouse. The fund value is paid at maturity or on the second death. Check your policy document for the exact wording.
What is the maturity value of Jeevan Saathi Plus?
Maturity pays the fund value, which depends on the funds chosen and market returns. Our projection for ₹50,000 a year over 20 years is about ₹21.7 lakh at 8% a year and about ₹13.6 lakh at 4%, before any partial withdrawals.
What charges did Jeevan Saathi Plus deduct?
Our calculator uses the source's premium allocation charges: about 27.5–29% of the first year's premium, 5% in years two and three, and 2.5% after that. It also deducts a ₹60 monthly administration charge and mortality charges for both lives.
Could I withdraw money from Jeevan Saathi Plus before maturity?
Yes. Partial withdrawals were allowed after the third policy year, subject to a minimum fund balance. Surrender was also possible after three years. The policy also allowed top-up premiums and switching between the bond, secured, balanced and growth funds.
Is GST charged on this ULIP now?
No. From 22 September 2025, individual life insurance, including ULIPs, is exempt from GST. Earlier, GST at 18% applied to ULIP charges rather than to the whole premium.
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.