LIC Jeevan Shikhar (Plan 837) was a limited-period, single-premium savings plan launched on 11 January 2016 with a fixed 15-year term. It gives death cover of 10 times the single premium and pays the maturity sum assured plus any loyalty addition. A 30-year-old choosing ₹5 lakh maturity sum assured paid about ₹2,02,900 after the high sum assured rebate.
Jeevan Shikhar 837 Single Premium & Maturity Calculator
Your estimate
after 15 years
- Sum assured on death10 × single premium, plus loyalty addition after year 5
- ₹20,29,000
- High sum assured rebate
- ₹10,000
- Loyalty addition (estimated)
- ₹75,000
- Approx. return (IRR)
- 7.19%
- Age at maturity
- 45 years
- Single premium₹2,02,90035%
- Net gain₹3,72,10065%
Death benefit and guaranteed surrender value by policy year
| Policy year | Death benefit | Guaranteed surrender value (GSV) |
|---|---|---|
| 1 | ₹20,29,000 | ₹1,42,030 |
| 2 | ₹20,29,000 | ₹1,82,610 |
| 3 | ₹20,29,000 | ₹1,82,610 |
| 5 | ₹20,29,000 | ₹1,82,610 |
| 6 | ₹20,59,000 | ₹1,82,610 |
| 10 | ₹20,79,000 | ₹1,82,610 |
| 15 | ₹21,04,000 | ₹1,82,610 |
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 Shikhar Plan 837?
LIC Jeevan Shikhar (Plan 837) was a single-premium, with-profit savings-cum-protection plan that LIC opened on 11 January 2016 for a short sale window. It carries UIN 512N305V01. You paid one lump sum and got:
- life cover of 10 times the single premium for 15 years;
- a guaranteed maturity sum assured at the end of year 15;
- a loyalty addition on top, if LIC declares one.
It followed Jeevan Sangam 831 (2015), which had the same idea with a 12-year term. The main differences are the longer term, the higher minimum amount and a rebate for large policies.
Jeevan Shikhar 837 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 837 / 512N305V01 |
| Launch | 11 January 2016 (limited sale period) |
| Policy term | 15 years, fixed |
| Premium | Single premium |
| Entry age | 6 (completed) to 45 (nearer birthday) |
| Maturity sum assured | Minimum ₹1,00,000, in multiples of ₹20,000 |
| Death cover | 10 × single premium |
| Surrender value | 70% of premium in year 1, 90% after |
| Loan | After 3 months |
How the single premium is worked out
The premium is a rate per ₹1,000 of maturity sum assured (MSA), based on age. It starts at ₹391.50 at age 6 and reaches ₹567 at age 45, with a noticeable step at age 40. Larger policies get a high sum assured rebate:
| Maturity sum assured | Rebate per ₹1,000 |
|---|---|
| Below ₹2 lakh | Nil |
| ₹2 lakh to below ₹5 lakh | ₹15 |
| ₹5 lakh to below ₹10 lakh | ₹20 |
| ₹10 lakh and above | ₹25 |
Example: a 30-year-old choosing ₹5,00,000 MSA has a tabular premium of about ₹2,12,900. The rebate of ₹10,000 brings it to ₹2,02,900. Death cover is ₹20,29,000. At maturity, the guaranteed ₹5,00,000 plus a loyalty addition of ₹75,000 (our ₹10 per ₹1,000 a year assumption) gives about ₹5,75,000, close to 7.19% a year.
For a 10-year-old with the same ₹5 lakh MSA, the premium was ₹1,89,275 and the death cover ₹18,92,750.
Tip: the rebate bands matter. Going from ₹4.8 lakh to ₹5 lakh MSA lifted the rebate from ₹15 to ₹20 per ₹1,000.
Death and maturity benefits
- Death before risk starts (children under 8): refund of the single premium, without interest.
- Death after risk starts: 10 times the single premium; loyalty addition added after five policy years.
- Maturity: maturity sum assured plus loyalty addition, if declared.
The loyalty addition is not guaranteed. Set it to 0 in the calculator to see only the guaranteed amount.
Surrender, loan and tax
The guaranteed surrender value is 70% of the premium in year one and 90% thereafter. Loyalty addition is included only after five years. Loans are available after three months. The maturity amount is normally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)). Receipts from 2016 show service tax, but individual life insurance premiums have been GST-exempt since 22 September 2025.
Jeevan Shikhar vs Jeevan Sangam vs Jeevan Shagun
| Shagun 826 | Sangam 831 | Shikhar 837 | |
|---|---|---|---|
| Year | 2014 | 2015 | 2016 |
| Term | 12 years | 12 years | 15 years |
| Minimum MSA | ₹60,000 | ₹75,000 | ₹1,00,000 |
| Payout | Money back from year 10 | Lump sum at 12 | Lump sum at 15 |
See Jeevan Shagun 826 for the money back version. If you have a lump sum to invest today, look at the Single Premium Endowment Plan 717.
How to use this calculator
- Enter the age at entry and the maturity sum assured.
- Adjust the loyalty addition rate if you wish.
- Read the single premium, rebate, maturity value and death cover.
- Check the year-wise table for the death benefit and surrender value.
Frequently asked questions
When was LIC Jeevan Shikhar launched?
LIC launched Jeevan Shikhar (Plan 837, UIN 512N305V01) on 11 January 2016 as a close-ended plan, open for a short period only. It is no longer on sale, but existing policies continue for their full 15 years.
What is the term of Jeevan Shikhar 837?
The policy term is fixed at 15 years and the premium is paid once, at the start. Policies from the 2016 sale window therefore mature from 2031.
How much is the Jeevan Shikhar premium for ₹5 lakh?
For a 30-year-old, the tabular rate is about ₹425.80 per ₹1,000. After a ₹20 per ₹1,000 high sum assured rebate, the single premium for ₹5 lakh maturity sum assured is about ₹2,02,900.
What is the death benefit in Jeevan Shikhar?
After risk starts, the nominee gets 10 times the single premium, about ₹20.29 lakh on a ₹2,02,900 premium. If death happens after five policy years, the loyalty addition is paid on top.
Does Jeevan Shikhar pay a bonus?
It pays a loyalty addition instead of a yearly bonus. It is not guaranteed and is payable on maturity, on death after five years, or on surrender after five years, if LIC declares it.
What is the surrender value of Jeevan Shikhar?
The guaranteed surrender value is 70% of the single premium in the first policy year and 90% after that, excluding taxes and extra premium. After five years, any loyalty addition is added.
Is the Jeevan Shikhar maturity tax-free?
With death cover at ten times the premium, the maturity amount generally qualifies for exemption under Schedule II (earlier Section 10(10D)). The single premium qualified for Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the year paid, 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.