LIC Jeevan Saral Calculator: Maturity Value, Death Cover and Surrender Value for Plan 165

What does the Jeevan Saral calculator do?

LIC Jeevan Saral (Plan 165) was one of LIC’s most flexible savings plans. Unlike most endowment policies, it starts from the premium, not the sum assured: you choose a monthly premium, and the death cover is fixed at 250 times that amount. The maturity value depends on your age at entry and the term.

Because the policy document shows the premium but not always the expected maturity, many policyholders are unsure what they will actually receive. This LIC Jeevan Saral calculator estimates:

• the maturity amount (maturity sum assured plus loyalty addition);
• the death cover of 250 × monthly premium;
• the total premium you will pay and the approximate IRR;
• the surrender value today, based on the years of premium you have paid;
• a year-wise surrender table, so you can see how the value builds up.

Jeevan Saral at a glance

Feature	Details
Plan number / UIN	165 / 512N222V01
Status	Withdrawn for new sales from 1 January 2014
Entry age	12 to 60 years
Policy term	10 to 35 years
Maximum maturity age	70 years
Minimum premium	₹250 a month (₹400 from age 50)
Death benefit	250 × monthly premium, plus loyalty addition if earned
Maturity benefit	Maturity sum assured + loyalty addition
Surrender	After 3 full years of premium

How the calculator works

1. Premiums. Yearly premium = monthly premium × 12. Total premium = yearly premium × term.
2. Maturity sum assured. In Jeevan Saral, part of each premium pays for the 250× life cover and the rest builds the maturity sum assured. The calculator uses the source’s age-banded rates (₹28 per ₹1,000 for young entrants, rising to ₹63 at 60) to estimate this cost. At age 30, about 96% of premiums end up as maturity sum assured; at 55 it is about 86%.
3. Loyalty addition. LIC declares loyalty additions for Jeevan Saral rather than yearly bonuses. The calculator applies the rate you enter, per ₹1,000 of maturity sum assured, for each year of the term.
4. Surrender value. The guaranteed value is 30% of premiums paid excluding the first year. The special value is estimated as the paid-up maturity sum assured (plus loyalty after 10 years), discounted at 7% a year for the years left. You get the higher of the two.

Worked examples

Example 1: a 15-year policy. Anil took Jeevan Saral at 30 with a ₹2,000 monthly premium for 15 years.

Item	Estimate
Yearly premium	₹24,000
Total premium paid	₹3,60,000
Death cover	₹5,00,000
Maturity sum assured	₹3,45,600
Loyalty addition	₹2,07,360
Maturity amount	₹5,52,960
IRR	5.20%

If Anil stops after five years, the calculator puts the surrender value at about ₹58,562. The guaranteed floor would be only ₹28,800.

Example 2: a 20-year policy. Meena joined at 35 with ₹3,000 a month for 20 years. She pays ₹7,20,000 in total, her family is covered for ₹7,50,000, and the estimated maturity amount is ₹12,28,608 (IRR about 4.85%). After eight years of premium, her surrender value would be roughly ₹1,21,226.

Tip: surrender value in the early years is far below what you have paid. If you only need cash for a short time, a policy loan or a partial surrender usually costs less than closing the policy.

How to read the results

• Estimated maturity amount: what you can expect at the end of the term if you pay every premium.
• Sum assured on death: the fixed 250× cover. Loyalty addition is extra if earned.
• Maturity sum assured and loyalty addition: the two parts of the maturity value. Loyalty is not guaranteed.
• IRR: the yearly return on your premiums, useful for comparing with PPF or an FD.
• Surrender value / GSV: the estimated value if you surrender after the years you entered, and the guaranteed minimum.

The chart below the calculator shows estimated maturity for a ₹2,000 monthly premium across entry ages and terms.

Tips and common mistakes

• Keep your policy bond handy. The maturity sum assured printed there (if shown) is more accurate than any estimate. Use this calculator to understand loyalty and surrender, not to replace LIC’s statement.
• Do not confuse death cover with maturity. In Jeevan Saral these are different numbers; the death cover is often higher than the maturity sum assured.
• Think before surrendering in the first 10 years. Loyalty additions generally apply only once the policy has run at least 10 years.
• Check the partial surrender option. Jeevan Saral allowed partial surrender after three years, which lets you take some money out and keep the policy going.
• Use cautious loyalty rates. Try ₹25 and ₹40 to see a range.

Related calculators

• LIC Jeevan Saral Plan 165: full plan details for existing policyholders.
• LIC surrender value calculator: for other traditional LIC policies.
• LIC maturity calculator: quick maturity estimates for other plans.