LIC Jeevan Shagun (Plan 826) was a 12-year, single-premium money back plan sold from 1 September to 30 November 2014. It pays 15% of the maturity sum assured after year 10, 20% after year 11 and 65% plus loyalty addition at maturity. A 30-year-old with ₹5 lakh maturity sum assured paid about ₹2,58,680 and gets ₹5 lakh guaranteed back, plus loyalty addition.
Jeevan Shagun 826 Premium & Money Back Calculator
Your estimate
- Money back at end of year 10 (15%)
- ₹75,000
- Money back at end of year 11 (20%)
- ₹1,00,000
- Estimated maturity amount65% of MSA + loyalty addition
- ₹3,85,000
- Sum assured on death10 × tabular single premium, plus loyalty addition after year 5
- ₹26,86,800
- Loyalty addition (estimated)
- ₹60,000
- Single premium₹2,58,68046%
- Net gain₹3,01,32054%
Payout schedule
| Policy year | Share of MSA | You get |
|---|---|---|
| 10 | 15% | ₹75,000 |
| 11 | 20% | ₹1,00,000 |
| 12 | 65% | ₹3,85,000 |
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 Shagun Plan 826?
LIC Jeevan Shagun (Plan 826) was a single-premium, with-profit money back plan that LIC sold for just 90 days, from 1 September to 30 November 2014 (UIN 512N290V01). It combined three features:
- a one-time premium;
- a death cover of 10 times the premium throughout the 12-year term;
- money back in the last three years: 15%, 20% and 65% of the maturity sum assured.
The 12-year term means most policies are maturing right now, in late 2026. If you hold one, this calculator helps you check the final cheque, including the loyalty addition.
Jeevan Shagun 826 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 826 / 512N290V01 |
| Sale period | 1 Sep 2014 to 30 Nov 2014 |
| Policy term | 12 years |
| Premium | Single premium |
| Entry age | 8 to 45 years |
| Maturity sum assured (MSA) | Minimum ₹60,000, no upper limit |
| Survival benefits | 15% at year 10, 20% at year 11 |
| Maturity | 65% of MSA + loyalty addition |
| Death cover | 10 × tabular single premium |
How the premium is calculated
LIC priced the plan per ₹1,000 of maturity sum assured, based on age, and gave a rebate of ₹15 per ₹1,000 from ₹1.5 lakh and ₹20 from ₹4 lakh. The source rate table we started from was written ten times too small, since it priced ₹1 lakh of guaranteed payouts at about ₹5,000. We corrected it to about ₹509–741 per ₹1,000, in line with the sister plan Jeevan Sangam 831.
Example: a 30-year-old choosing ₹5,00,000 MSA paid a single premium of about ₹2,58,680. The payouts are:
| Policy year | Share of MSA | Amount |
|---|---|---|
| End of year 10 | 15% | ₹75,000 |
| End of year 11 | 20% | ₹1,00,000 |
| End of year 12 | 65% + loyalty | ₹3,85,000 |
The final figure includes a loyalty addition of ₹60,000, based on our assumption of ₹10 per ₹1,000 a year. The guaranteed part of the last payment is ₹3,25,000. Altogether the policyholder receives about ₹5,60,000, of which ₹5,00,000 is guaranteed. The death cover was ₹26,86,800.
Tip: if your maturity letter shows a loyalty addition, enter its rate in the calculator. It will reconcile the letter with your premium and MSA.
Death benefit
- Risk commencement: immediate for entry at 8 years and above.
- Death during the term: 10 times the tabular single premium, without deduction of money back already paid.
- After five policy years: loyalty addition is added to the death claim.
Surrender, loan and tax
The policy acquires a surrender value and loan eligibility during the term. Money back and maturity are normally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) because the cover is ten times the premium. The 2014 receipts showed service tax. From 22 September 2025, individual life insurance premiums are GST-exempt.
Jeevan Shagun vs Sangam and Shikhar
Shagun was the first of three short-sale single-premium plans. Jeevan Sangam 831 (2015) paid everything at the end of 12 years, and Jeevan Shikhar 837 (2016) stretched the term to 15 years. Only Shagun split the payout across three years, which suits people who want cash in stages.
To compare with a regular-premium money back plan, try the money back policy calculator.
How to use this calculator
- Enter the age at entry.
- Enter the maturity sum assured.
- Keep or change the loyalty addition rate (0 = guaranteed only).
- Read the premium, the three payouts, total received and death cover.
Frequently asked questions
When was LIC Jeevan Shagun available?
Jeevan Shagun (Plan 826, UIN 512N290V01) was a close-ended plan sold for 90 days, from 1 September 2014 to 30 November 2014. It cannot be bought now; existing policies run for their 12-year term.
When do Jeevan Shagun policies mature?
With a 12-year term, policies bought between September and November 2014 mature between September and November 2026. The money back instalments of years 10 and 11 were due in 2024 and 2025.
How much money back does Jeevan Shagun pay?
It pays 15% of the maturity sum assured at the end of year 10, 20% at the end of year 11 and 65% at the end of year 12, along with any loyalty addition. On ₹5 lakh that is ₹75,000, ₹1,00,000 and ₹3,25,000.
What is the death benefit in Jeevan Shagun?
After risk starts, the nominee receives 10 times the tabular single premium. Money back already paid is not deducted. If death happens after five policy years, any loyalty addition is paid as well.
Is the loyalty addition in Jeevan Shagun guaranteed?
No. The loyalty addition depends on LIC's experience and is declared when the claim is paid. Only the three money back instalments, totalling 100% of the maturity sum assured, are guaranteed.
What return does Jeevan Shagun give?
For a 30-year-old with ₹5 lakh maturity sum assured, the premium was ₹2,58,680. The guaranteed payouts total ₹5,00,000; with an assumed ₹60,000 loyalty addition, the total is ₹5,60,000 over 12 years.
Is Jeevan Shagun maturity tax-free?
Since the death cover is ten times the premium, the money back and maturity amounts are generally exempt under Schedule II (earlier Section 10(10D)). The premium qualified for Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in 2014 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.