LIC Jeevan Raksha Plan 894 Calculator
LIC Jeevan Raksha (Plan 894) is an individual, non-linked, non-participating pure risk term assurance vehicle launched alongside Bima Platinum (Plan 770) effective September 7, 2026 (SEBI Reg 30 filing). It provides affordable, high-volume pure mortality life cover with flexible Regular, Limited (5/10/15 yr), and Single premium options and 100% tax-exempt death benefits under Section 10(10D).
Official Non-Linked, Non-Participating Individual Pure Risk Term Assurance Plan (Plan 894, Launch Date: Sept 7, 2026) — High-Sum-Assured Pure Protection Model.
Official Pure Term Assurance Model • Table 894 • Effective Date: September 7, 2026 • Last Updated: September 1, 2026
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Jeevan Raksha (894) Pure Term Quotation
Total Guaranteed Pure Life Cover
Instalment Premium (Yearly)
Total Lifetime Cost
Effective Daily Protection Cost
Cost per ₹1 Lakh Cover
Active Protection Window
LIC Pure Risk Underwriting Guarantee
LIC Jeevan Raksha (Plan 894) is a pure protection plan. In the unfortunate event of the policyholder's demise during the 30-year term, the entire ₹ 50,00,000 is paid immediately and tax-free to the nominee. Backed by the Section 37 Sovereign Guarantee of the Government of India.
| Year | Age | Annual Premium (Incl GST) | Cumulative Outflow | Nominee Life Cover | Policy Status |
|---|---|---|---|---|---|
| Year 1 | 31 yrs | ₹ 29,432 | ₹ 29,432 | ₹ 1,00,00,000 | Active Cover |
| Year 2 | 32 yrs | ₹ 29,432 | ₹ 58,864 | ₹ 1,00,00,000 | Active Cover |
| Year 3 | 33 yrs | ₹ 29,432 | ₹ 88,296 | ₹ 1,00,00,000 | Active Cover |
| Year 4 | 34 yrs | ₹ 29,432 | ₹ 1,17,728 | ₹ 1,00,00,000 | Active Cover |
| Year 5 | 35 yrs | ₹ 29,432 | ₹ 1,47,160 | ₹ 1,00,00,000 | Active Cover |
| Year 6 | 36 yrs | ₹ 29,432 | ₹ 1,76,592 | ₹ 1,00,00,000 | Active Cover |
| Year 7 | 37 yrs | ₹ 29,432 | ₹ 2,06,024 | ₹ 1,00,00,000 | Active Cover |
| Year 8 | 38 yrs | ₹ 29,432 | ₹ 2,35,456 | ₹ 1,00,00,000 | Active Cover |
| Year 9 | 39 yrs | ₹ 29,432 | ₹ 2,64,888 | ₹ 1,00,00,000 | Active Cover |
| Year 10 | 40 yrs | ₹ 29,432 | ₹ 2,94,320 | ₹ 1,00,00,000 | Active Cover |
| Year 11 | 41 yrs | ₹ 29,432 | ₹ 3,23,752 | ₹ 1,00,00,000 | Active Cover |
| Year 12 | 42 yrs | ₹ 29,432 | ₹ 3,53,184 | ₹ 1,00,00,000 | Active Cover |
| Year 13 | 43 yrs | ₹ 29,432 | ₹ 3,82,616 | ₹ 1,00,00,000 | Active Cover |
| Year 14 | 44 yrs | ₹ 29,432 | ₹ 4,12,048 | ₹ 1,00,00,000 | Active Cover |
| Year 15 | 45 yrs | ₹ 29,432 | ₹ 4,41,480 | ₹ 1,00,00,000 | Active Cover |
| Year 16 | 46 yrs | ₹ 29,432 | ₹ 4,70,912 | ₹ 1,00,00,000 | Active Cover |
| Year 17 | 47 yrs | ₹ 29,432 | ₹ 5,00,344 | ₹ 1,00,00,000 | Active Cover |
| Year 18 | 48 yrs | ₹ 29,432 | ₹ 5,29,776 | ₹ 1,00,00,000 | Active Cover |
| Year 19 | 49 yrs | ₹ 29,432 | ₹ 5,59,208 | ₹ 1,00,00,000 | Active Cover |
| Year 20 | 50 yrs | ₹ 29,432 | ₹ 5,88,640 | ₹ 1,00,00,000 | Active Cover |
| Year 21 | 51 yrs | ₹ 29,432 | ₹ 6,18,072 | ₹ 1,00,00,000 | Active Cover |
| Year 22 | 52 yrs | ₹ 29,432 | ₹ 6,47,504 | ₹ 1,00,00,000 | Active Cover |
| Year 23 | 53 yrs | ₹ 29,432 | ₹ 6,76,936 | ₹ 1,00,00,000 | Active Cover |
| Year 24 | 54 yrs | ₹ 29,432 | ₹ 7,06,368 | ₹ 1,00,00,000 | Active Cover |
| Year 25 | 55 yrs | ₹ 29,432 | ₹ 7,35,800 | ₹ 1,00,00,000 | Active Cover |
| Year 26 | 56 yrs | ₹ 29,432 | ₹ 7,65,232 | ₹ 1,00,00,000 | Active Cover |
| Year 27 | 57 yrs | ₹ 29,432 | ₹ 7,94,664 | ₹ 1,00,00,000 | Active Cover |
| Year 28 | 58 yrs | ₹ 29,432 | ₹ 8,24,096 | ₹ 1,00,00,000 | Active Cover |
| Year 29 | 59 yrs | ₹ 29,432 | ₹ 8,53,528 | ₹ 1,00,00,000 | Active Cover |
| Year 30 | 60 yrs | ₹ 29,432 | ₹ 8,82,960 | ₹ 1,00,00,000 | Active Cover |
Barbell Product Strategy: Plan 894 + Plan 770
LIC launched Jeevan Raksha (Plan 894) in tandem with Bima Platinum (Plan 770) on September 7, 2026 to offer Indian families a complete financial barbell:
Tax Benefits under Indian Income Tax Act
- Section 80C Deduction: Premiums paid toward LIC Jeevan Raksha (Plan 894) are fully eligible for tax deduction up to ₹1,50,000 per financial year.
- Section 10(10D) Exemption: All claim proceeds paid to the nominee upon death are 100% exempt from income tax with zero TDS deductions.
Eligibility Criteria & Policy Parameters (Plan 894)
| Parameter | Minimum | Maximum | Underwriting Guidelines |
|---|---|---|---|
| Entry Age | 18 Years (Completed) | 65 Years (Nearest Birthday) | Standard lives (Medical / Non-medical) |
| Maximum Cover Age | 28 Years | 80 Years (Nearest Birthday) | Policy terminates at age 80 |
| Policy Term (PT) | 10 Years | 40 Years | Multiples of 5 or discrete integers |
| Premium Payment Options | Single / 5 / 10 / 15 Yrs | Regular Pay (Equal to PT) | Flexible capitalization options |
| Basic Sum Assured | ₹25,00,000 (25 Lakhs) | No Upper Limit | High SA rebates applied for ₹50L+ |
| Riders Available | Accidental Death Benefit | Critical Illness Rider (15 Illnesses) | Pure risk add-on protection |
Actuarial Blueprint of LIC Jeevan Raksha (Plan 894)
Authorized under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Life Insurance Corporation of India announced the launch of LIC Jeevan Raksha (Plan 894) effective September 7, 2026.
Plan 894 represents a pure risk term assurance vehicle engineered to complement the savings-oriented LIC Bima Platinum (Plan 770). By bifurcating pure mortality risk underwriting from capital growth, LIC provides high-volume family financial security at deeply competitive premium rates backed by the Section 37 Sovereign Guarantee.