LIC Jeevan Vaibhav (Plan 809) was a close-ended single premium endowment plan launched on 21 May 2012 for a short sale window. It ran for a fixed 10 years and paid the sum assured on maturity or death, plus a loyalty addition in the final year. A 30-year-old paid about ₹95,500 for ₹2 lakh sum assured, a guaranteed return of roughly 7.7% a year.
Jeevan Vaibhav 809 Single Premium & Maturity Calculator
Your estimate
- Death benefit (years 1–9)basic sum assured
- ₹5,00,000
- Death benefit (last policy year)sum assured + loyalty addition
- ₹5,00,000
- Approx. return (IRR)
- 7.67%
- Age at maturity
- 40 years
- Single premium₹2,38,75048%
- Net gain₹2,61,25052%
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 Vaibhav Plan 809?
LIC Jeevan Vaibhav (Plan 809) was a close-ended, non-linked, single premium endowment assurance plan. You chose a sum assured, paid one premium, and after exactly 10 years LIC returned the sum assured plus any loyalty addition. Life cover during the term was simply the sum assured, which kept the premium low relative to the guaranteed amount and made the plan work like a 10-year fixed-return deposit with insurance attached.
LIC launched it on 21 May 2012 and kept it open for a limited window of up to 120 days. As every policy had a 10-year term, all of them matured in 2022. The calculator helps former policyholders check their maturity amount and helps anyone comparing old single premium plans.
Jeevan Vaibhav 809 at a glance
| Feature | Details |
|---|---|
| Plan number | 809 |
| Launched | 21 May 2012 (close-ended, up to 120 days) |
| Policy term | 10 years, fixed |
| Premium | Single premium only |
| Entry age | 8 (completed) to 65 years (nearest birthday) |
| Basic sum assured | Minimum ₹2,00,000, multiples of ₹10,000, no maximum |
| Death benefit | Sum assured; sum assured + loyalty addition in the last year |
| Maturity | Sum assured + loyalty addition |
| Loan | Available after one policy year |
Premium and worked example
The single premium is a rate per ₹1,000 of sum assured that rises with age because the full sum assured is paid on death at any time. Our source script used rates of just 4.5% to 23% of the sum assured, which contradicts its own minimum premium of ₹95,210 for the ₹2 lakh minimum cover; the calculator is rebuilt around that figure.
Example: a 30-year-old chooses the minimum ₹2,00,000 sum assured.
- Single premium: about ₹95,500
- Maturity after 10 years: ₹2,00,000 plus loyalty addition
- Death cover: ₹2,00,000 throughout
- Approximate guaranteed return: 7.67% a year
For ₹10 lakh, the premium chart shows about ₹4.76 lakh at age 8, ₹4.78 lakh at 30, ₹4.97 lakh at 50 and ₹5.45 lakh at 65. Service tax applied at the time of sale; individual life premiums have carried no GST since 22 September 2025.
Tip: if your maturity cheque was higher than the sum assured, the difference is the loyalty addition. Enter it per ₹1,000 in the calculator to see your actual return.
Tax treatment
Because the single premium was roughly 48% of the sum assured, Jeevan Vaibhav policies generally failed the premium-to-sum-assured test. That limited the Section 123 of the Income-tax Act, 2025 (earlier Section 80C) deduction to 10% of the sum assured and usually meant the maturity gain was not exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)). Check your case with a tax adviser if you are still settling a return for that year.
Vaibhav vs other single premium plans
LIC ran Jeevan Vriddhi 808 just before Vaibhav, with cover of 5 times the premium, and later Jeevan Sugam 813 with 10 times the premium for five years. Vaibhav had the lowest cover of the three but the widest entry age. Today’s nearest equivalent is the Single Premium Endowment Plan 717.
How to use this calculator
- Enter the age at entry and the sum assured.
- Add a loyalty addition rate if you know it.
- Read the single premium, maturity amount, death benefit and approximate return.
Frequently asked questions
When was LIC Jeevan Vaibhav 809 available?
LIC launched Jeevan Vaibhav on 21 May 2012 as a close-ended plan open for a maximum of 120 days. With a fixed 10-year term, all Jeevan Vaibhav policies reached maturity during 2022.
What did Jeevan Vaibhav pay on maturity?
The policyholder received the full basic sum assured plus any loyalty addition declared by LIC. The sum assured was guaranteed from day one, which is why the plan was marketed as a safe, fixed-return option.
What was the death benefit in Jeevan Vaibhav?
If death occurred in the first nine policy years, the nominee received the basic sum assured. If it occurred in the last policy year, the nominee received the sum assured plus the loyalty addition.
What return did Jeevan Vaibhav give?
At age 30, paying about ₹95,500 for ₹2 lakh after 10 years works out to roughly 7.7% a year on the guaranteed amount alone. Older entrants paid a higher premium because the full sum assured was payable on early death.
Was Jeevan Vaibhav maturity tax-free?
Often not. The single premium was close to half the sum assured, well above the 10% limit for policies issued from April 2012. Such policies generally lose the Schedule II (earlier Section 10(10D)) exemption, so the gain may be taxable. The death claim is always tax-free.
How was Jeevan Vaibhav different from Jeevan Vriddhi?
Jeevan Vriddhi 808 started from the premium and gave 5 times the premium as life cover, with a guaranteed maturity multiple. Jeevan Vaibhav started from the sum assured, which was the only death cover, and allowed entry up to age 65.
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.