LIC Komal Jeevan Plan 159 Calculator: Premium, Money Back & Maturity

What is LIC Komal Jeevan Plan 159?

LIC Komal Jeevan (Table 159, UIN 512N216V01) was a children’s money-back plan introduced in 2003. Parents or grandparents took it for a child between birth and 10 years of age. It paid a part of the sum assured at the start of college years and a lump sum at 26, while keeping the child insured.

LIC withdrew the plan on 1 January 2014, so this page is for families who still hold a policy. The calculator above reconstructs the premium and payouts from the plan’s rate table. For a new child plan, see New Children’s Money Back 732.

Komal Jeevan 159 at a glance

Feature	Details
Plan number / UIN	159 / 512N216V01
Plan type	Children’s money-back plan with guaranteed additions
Child’s entry age	0 (about 3 months) to 10 years
Maturity	Policy anniversary after the child turns 26
Premiums	Regular till age 18, or one single premium
Sum assured	₹1 lakh to ₹25 lakh (as per our source)
Money back	20% at 18, 20% at 20, 30% at 22, 30% at 24
Guaranteed additions	₹75 per ₹1,000 sum assured a year
Status	Withdrawn on 1 January 2014

Premium and a worked example

Premiums were tabular rates per ₹1,000 sum assured, and they rose with the child’s age because there were fewer years to pay. Our calculator uses the plan’s rates for ages 0, 5 and 10 and fills in the ages between.

Example (calculator output): policy taken at birth for ₹5 lakh, yearly mode.

• Yearly premium: ₹35,907 for 18 years (₹6,46,326 in total)
• Money back: ₹1 lakh at 18, ₹1 lakh at 20, ₹1.5 lakh at 22, ₹1.5 lakh at 24
• Guaranteed additions paid at 26: ₹6,75,000
• Total received: ₹11,75,000

The same cover as a single premium was about ₹3,70,096. A child who entered at 5 would pay ₹50,632 a year for 13 years and receive about ₹9,87,500 in all.

The calculator assumes guaranteed additions for each year until premiums stop at 18, which is conservative; your policy bond is the final word. No GST applies now. Before 22 September 2025, premiums carried 4.5% GST in year one and 2.25% later.

Benefits in detail

Survival benefits: the four money-back instalments add up to 100% of the sum assured, timed for higher studies.

Maturity: at 26 the policy pays the guaranteed additions plus any loyalty addition LIC declares. Enter a loyalty rate in the calculator if you have one; it is 0 by default.

Death benefit: before risk cover begins (age 7, or two years after the start if later), premiums are refunded. After that the nominee receives the full sum assured plus guaranteed additions, whatever money back has already been paid.

Premium waiver (optional): if this benefit was taken, future premiums are waived if the proposer (parent) dies before the child turns 18.

Tip: the policy vests in the child at 18. Update the nominee and bank details at that point so the later payouts go smoothly.

Loan, surrender and paid-up value

• Surrender: allowed after three full years’ premiums. The guaranteed value is 90% of premiums paid before risk cover started plus 30% of those paid after, excluding the first year’s premium. LIC pays the special surrender value if higher.
• Paid-up: if premiums stop after three years, the policy continues with reduced benefits.
• Loan: available against the surrender value.

Try the surrender value calculator before deciding to exit.

Tax treatment

Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime) for the parent who pays. Money-back and maturity amounts are generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)), and death claims are always exempt.

Komal Jeevan vs today’s child plans

Komal Jeevan paid fixed guaranteed additions and returned the whole sum assured between 18 and 24. Current child plans such as Jeevan Tarun 734 and New Children’s Money Back 732 work on bonuses instead and have different payout ages. Our child plan calculator helps you compare a fresh policy with what an old Komal Jeevan delivers.