LIC Jeevan Sangam (Plan 831) was a close-ended, single-premium endowment plan launched on 4 March 2015 with a fixed 12-year term. You pay once, get a death cover of 10 times the premium and receive the maturity sum assured plus a loyalty addition after 12 years. A 30-year-old choosing ₹5 lakh maturity sum assured paid about ₹2,49,500.
Jeevan Sangam 831 Single Premium & Maturity Calculator
Your estimate
after 12 years
- Sum assured on death10 × single premium, plus loyalty addition after year 5
- ₹24,95,000
- Maturity sum assured
- ₹5,00,000
- Loyalty addition (estimated)
- ₹60,000
- Approx. return (IRR)
- 6.97%
- Age at maturity
- 42 years
- Single premium₹2,49,50045%
- Net gain₹3,10,50055%
Death benefit and guaranteed surrender value by policy year
| Policy year | Death benefit | Guaranteed surrender value (GSV) |
|---|---|---|
| 1 | ₹24,95,000 | ₹1,74,650 |
| 2 | ₹24,95,000 | ₹2,24,550 |
| 3 | ₹24,95,000 | ₹2,24,550 |
| 4 | ₹24,95,000 | ₹2,24,550 |
| 5 | ₹24,95,000 | ₹2,24,550 |
| 6 | ₹25,25,000 | ₹2,24,550 |
| 7 | ₹25,30,000 | ₹2,24,550 |
| 8 | ₹25,35,000 | ₹2,24,550 |
| 9 | ₹25,40,000 | ₹2,24,550 |
| 10 | ₹25,45,000 | ₹2,24,550 |
| 11 | ₹25,50,000 | ₹2,24,550 |
| 12 | ₹25,55,000 | ₹2,24,550 |
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 Sangam Plan 831?
LIC Jeevan Sangam (Plan 831) was a limited-period, single-premium endowment plan that LIC opened on 4 March 2015 (UIN 512N295V01). It was designed for people with a lump sum who wanted three things in one policy:
- a one-time payment, with nothing further to pay;
- a large life cover of 10 times the premium for 12 years;
- a guaranteed maturity sum assured, with a chance of a loyalty addition on top.
Like its sister plans Jeevan Shagun 826 and Jeevan Shikhar 837, it was a close-ended plan, open only for a short window. Policies bought in 2015 reach maturity from 2027, so this calculator helps holders check what they should receive.
Jeevan Sangam 831 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 831 / 512N295V01 |
| Launch | 4 March 2015 (limited sale period) |
| Policy term | 12 years, fixed |
| Premium | Single premium |
| Entry age | 6 to 50 years |
| Maturity sum assured | Minimum ₹75,000, in ₹10,000 steps |
| Death cover | 10 × tabular single premium |
| Loyalty addition | From year 6, if declared |
| Loan | After 3 months |
How the single premium is calculated
LIC priced Jeevan Sangam per ₹1,000 of maturity sum assured (MSA). The rate is flat at ₹497 for young entrants and rises gently to ₹563 at age 50, because older buyers have a higher cost of the 10-times life cover.
Example: a 30-year-old choosing ₹5,00,000 MSA pays a single premium of ₹2,49,500. The death cover is ₹24,95,000. At maturity the guaranteed amount is ₹5,00,000. With a loyalty addition of ₹10 per ₹1,000 a year (₹60,000), the payout is about ₹5,60,000, roughly 6.97% a year.
A 10-year-old child with ₹2,00,000 MSA would have paid ₹99,400 and would receive about ₹2,24,000 at age 22.
Death benefit
- Before risk starts (children under 8): the premium is refunded without interest.
- After risk starts: 10 times the tabular single premium.
- After 5 policy years: the loyalty addition is paid on top of the death cover.
The year-wise table under the calculator shows this and the guaranteed surrender value for each policy year.
Maturity benefit and loyalty addition
On surviving the 12 years, the policyholder receives the maturity sum assured plus the loyalty addition. The loyalty addition is not guaranteed. It depends on LIC’s experience and is declared in the year of claim. The calculator uses ₹10 per ₹1,000 a year as a starting point. Set it to 0 to see only the guaranteed amount.
Tip: check the MSA printed on your bond, not the premium. All benefits in this plan are expressed as multiples of the MSA or the premium, so one number unlocks the rest.
Surrender, loan and tax
The guaranteed surrender value is 70% of the single premium in the first year and 90% after that. A loan is available after three months. Premiums qualified for Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the year paid, and the maturity amount is normally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)). The GST shown on 2015 receipts no longer applies to individual life policies: they are GST-exempt from 22 September 2025.
Jeevan Sangam vs Shikhar vs Shagun
All three were short-lived single-premium plans with 10 times the premium as death cover:
| Plan | Term | How benefits are paid |
|---|---|---|
| Jeevan Shagun 826 (2014) | 12 years | 15% in year 10, 20% in year 11, 65% at maturity |
| Jeevan Sangam 831 (2015) | 12 years | 100% of MSA at maturity |
| Jeevan Shikhar 837 (2016) | 15 years | 100% of MSA at maturity |
For a current single-premium option, see the Single Premium Endowment Plan 717. To project the final payout of any LIC policy, try the maturity calculator.
How to use this calculator
- Enter the age at entry.
- Enter the maturity sum assured from your policy.
- Keep or change the loyalty addition rate.
- Read the single premium, maturity value, death cover and the year-wise surrender table.
Frequently asked questions
Is LIC Jeevan Sangam 831 still available?
No. Jeevan Sangam was sold for a limited period after its launch on 4 March 2015 and is closed for new business. Existing policies run their full 12-year term with the original benefits.
What is the policy term of Jeevan Sangam?
The term is fixed at 12 years for every policyholder. There is no choice of term, and the premium is paid only once, at the start.
How much death cover does Jeevan Sangam give?
After risk starts, the death cover is 10 times the tabular single premium. For a ₹2,49,500 premium, that is ₹24,95,000. After five policy years, any loyalty addition earned is paid on top.
What will I get at maturity from Jeevan Sangam?
You get the guaranteed maturity sum assured plus a loyalty addition, if LIC declares one. With ₹5 lakh maturity sum assured and a loyalty addition of 12% of it, the total is about ₹5,60,000.
When does risk cover start for a child in Jeevan Sangam?
For entry at age 8 or above, risk starts immediately. For younger children, it starts one day before the policy anniversary on or after age 8. If the child dies before that, the single premium is refunded without interest.
Can I surrender Jeevan Sangam or take a loan?
Yes. The guaranteed surrender value is 70% of the single premium in the first year and 90% after that, plus any loyalty addition once five years are complete. A loan is available after three months.
Is the Jeevan Sangam maturity amount tax-free?
The death cover is ten times the premium, so the maturity amount generally qualifies for exemption under Schedule II (earlier Section 10(10D)). The single premium was eligible for Section 123 (earlier 80C) deduction in the year of payment, under the old tax regime.
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.