LIC Jeevan Vriddhi Plan 808 Calculator
Single Premium Benefit, Maturity, Surrender and Return Estimate
Calculation Results
Plan Benefit Details
Year-Wise Benefit Schedule
| Policy Year | Premium Paid | Death Benefit | Maturity Payable | Loan / Surrender Status |
|---|
This calculator is based on the uploaded LIC sales brochure. It gives an educational estimate only. Exact claim, tax, loan and surrender values should be confirmed from LIC branch records.
- Jeevan Vriddhi Plan 808 was a limited-period LIC plan launched on 01 March 2012 and withdrawn on 29 June 2012.
- Death benefit is 5 times the single premium excluding extra premium and tax.
- Guaranteed Maturity Sum Assured is calculated from LIC's age-wise brochure factor.
- Loyalty Addition and Special Surrender Value are not guaranteed and depend on LIC rules.
LIC Jeevan Vriddhi Plan 808 Calculator
LIC Jeevan Vriddhi Plan 808 is a LIC single premium life insurance plan. It is suitable for people who want to pay a one-time lump-sum premium and receive a guaranteed maturity amount after a fixed policy term. This plan is withdrawn on 29.06.2012. With the help of the LIC Jeevan Vriddhi Plan 808 calculator, we can calculate the maturity value and surrender value if already purchased this plan.
Quick Overview
| Point | Details |
|---|---|
| Plan Name | LIC Jeevan Vriddhi |
| Plan No. | 808 |
| UIN | 512N268V01 |
| Plan Type | Single Premium, Non-Linked Plan |
| Policy Term | 10 years |
| Premium Mode | Single premium only |
| Launch Date | 01 March 2012 |
| Withdrawal Date | 29 June 2012 |
| Minimum Entry Age | 8 years completed |
| Maximum Entry Age | 50 years nearest birthday |
| Minimum Single Premium | Rs. 30,000 |
| Premium Multiple | Rs. 1,000 |
| Minimum Basic Sum Assured | Rs. 1,50,000 |
| Maximum Basic Sum Assured | No limit |
| Death Benefit | 5 times single premium |
| Maturity Benefit | Guaranteed Maturity Sum Assured + Loyalty Addition, if any |
| Loan Facility | Available after 1 policy year |
| Surrender | Available after 1 policy year |
What Is LIC Jeevan Vriddhi Plan 808?
LIC Jeevan Vriddhi Plan 808 is a traditional single premium insurance plan. In this plan, the policyholder pays the premium only once at the beginning of the policy. After that, the policy continues for a fixed term of 10 years.
The main attraction of this plan is that it offers life cover along with a guaranteed maturity amount. The death cover is 5 times the single premium, excluding extra premium and tax. On maturity, LIC pays the Guaranteed Maturity Sum Assured along with Loyalty Addition, if any.
Eligibility Conditions
| Eligibility Point | LIC Rule |
|---|---|
| Minimum Entry Age | 8 years completed |
| Maximum Entry Age | 50 years nearest birthday |
| Minimum Single Premium | Rs. 30,000 |
| Premium Multiple | Rs. 1,000 |
| Minimum Basic Sum Assured | Rs. 1,50,000 |
| Maximum Basic Sum Assured | No limit |
| Policy Term | 10 years |
| Premium Payment Mode | Single premium only |
Benefits of LIC Jeevan Vriddhi Plan 808
Death Benefit
The death benefit under LIC Jeevan Vriddhi Plan 808 is the Basic Sum Assured. The Basic Sum Assured is 5 times the single premium, excluding extra premium and taxes.
If the life assured dies during the policy term, the Basic Sum Assured is payable as per policy conditions.
Maturity Benefit
The maturity benefit is payable at the end of 10 years. It includes the Guaranteed Maturity Sum Assured and Loyalty Addition, if any.
Loyalty Addition
Loyalty Addition is an extra amount that may be paid on maturity if declared by LIC. It is not a guaranteed benefit.
How To Use the LIC Jeevan Vriddhi Plan Calculator
Follow these simple steps:
- Enter the entry age between 8 and 50 years.
- Enter the single premium amount.
- Select service tax or GST rate if required.
- Select Loyalty Addition assumption.
- Select income tax bracket only if tax impact needs to be checked.
- Select policy year for surrender or loan check.
- Click the Calculate button.
- Read the result section carefully.
- Use the Reset button to clear all values and calculate again.
Calculator Formula
Basic Sum Assured Formula
Basic Sum Assured = Single Premium x 5
This is the death cover under the plan.
Example:
Single Premium = Rs. 75,000 Basic Sum Assured = Rs. 75,000 x 5 Basic Sum Assured = Rs. 3,75,000
Guaranteed Maturity Sum Assured Formula
Base Guaranteed Maturity Sum Assured = Single Premium / 1000 x Age Factor
The age factor is taken from LIC’s official brochure table.
Example:
Age = 30 years Single Premium = Rs. 50,000 Age Factor = 1941.60Base GM = 50000 / 1000 x 1941.60 Base GM = Rs. 97,080
High Premium Incentive
LIC Jeevan Vriddhi Plan 808 gives extra benefit on higher single premium amounts.
| Single Premium | Increase in Guaranteed Maturity Sum Assured |
|---|---|
| Below Rs. 50,000 | Nil |
| Rs. 50,000 to Rs. 99,000 | 1.25% |
| Rs. 1,00,000 and above | 3.00% |
Formula:
Final Guaranteed Maturity = Base Guaranteed Maturity + High Premium Incentive.
Age-Wise Guaranteed Maturity Factor Table
The calculator uses the age-wise factor per Rs. 1,000 single premium.
| Age | Factor | Age | Factor | Age | Factor |
|---|---|---|---|---|---|
| 8 | 1984.60 | 23 | 1952.65 | 37 | 1894.60 |
| 9 | 1982.10 | 24 | 1951.85 | 38 | 1883.65 |
| 10 | 1979.15 | 25 | 1950.95 | 39 | 1871.20 |
| 11 | 1975.55 | 26 | 1949.90 | 40 | 1857.10 |
| 12 | 1972.10 | 27 | 1948.55 | 41 | 1841.45 |
| 13 | 1968.90 | 28 | 1946.85 | 42 | 1823.95 |
| 14 | 1966.35 | 29 | 1944.55 | 43 | 1803.90 |
| 15 | 1964.05 | 30 | 1941.60 | 44 | 1781.05 |
| 16 | 1961.90 | 31 | 1937.70 | 45 | 1755.30 |
| 17 | 1960.00 | 32 | 1932.80 | 46 | 1726.55 |
| 18 | 1958.30 | 33 | 1927.00 | 47 | 1694.75 |
| 19 | 1956.80 | 34 | 1920.40 | 48 | 1659.95 |
| 20 | 1955.50 | 35 | 1912.85 | 49 | 1622.60 |
| 21 | 1954.40 | 36 | 1904.30 | 50 | 1582.25 |
| 22 | 1953.45 |
This table is very important because the maturity value changes with age. A younger entry age usually gives a higher maturity factor.
Surrender Value
LIC Jeevan Vriddhi Plan 808 can be surrendered after the policy has completed at least one year. The minimum Guaranteed Surrender Value is 90% of the single premium paid, excluding extra premium.
Formula:
Guaranteed Surrender Value = Single Premium x 90%
Loan Facility
Loan facility is available under LIC Jeevan Vriddhi Plan 808 after completion of one policy year. This gives liquidity to existing policyholders.
A calculator can show loan eligibility based on policy year. For example:
| Policy Status | Loan Facility |
|---|---|
| Before 1 year | Not available |
| After 1 year | Available |
| At maturity | Not required, maturity benefit payable |
Cooling-Off Period
The plan provides a 15-day cooling-off period from the date of receipt of policy bond. If the policyholder was not satisfied with the terms and conditions, the policy can be returned to LIC within this period.
Suicide Exclusion
If the life assured commits suicide within one year from the date of commencement of risk, the policy becomes void as per the plan condition.
In such a case, LIC does not pay the full death benefit. The claim is limited to a maximum of 90% of the single premium paid, excluding extra premium, or third-party beneficiary interest where applicable.
Tax Treatment
Tax treatment depends on the Income Tax Act rules applicable to the policy and the policyholder’s situation. Many traditional life insurance plans may qualify for tax benefits under Section 10(10D), subject to conditions.
Who Can Use This Calculator?
The LIC Jeevan Vriddhi plan calculator is useful for:
| User Type | Use |
|---|---|
| Existing policyholders | To estimate maturity and surrender value |
| LIC agents | To explain old policy benefits |
| Nominees | To understand death benefit |
| Financial bloggers | To explain Plan 808 with formula |
| Policy reviewers | To compare old LIC single premium plans |
Advantages and Limitations
| Advantages | Limitations |
|---|---|
| Single premium payment | Not available for new customers |
| Fixed 10-year policy term | Loyalty Addition not guaranteed |
| 5 times premium life cover | Special Surrender Value cannot be exact without LIC factor |
| Guaranteed maturity amount | No regular income benefit |
| Loan after 1 year | Old tax treatment needs checking |
| Surrender after 1 year | Market comparison may show better return options today |
LIC Jeevan Vriddhi Plan 808 vs Normal Regular Premium Plans
LIC Jeevan Vriddhi is different from regular premium plans. In regular plans, premium is paid yearly, half-yearly, quarterly or monthly. In Jeevan Vriddhi, premium is paid only once.
| Point | Jeevan Vriddhi Plan 808 | Regular Premium Plan |
|---|---|---|
| Premium Payment | One-time | Repeated payment |
| Policy Term | 10 years fixed | Depends on plan |
| Life Cover | 5x single premium | Depends on sum assured |
| Maturity | Guaranteed maturity + loyalty, if any | Depends on plan rules |
| Suitable For | Lump sum investment | Regular savings |
| Current Status | Withdrawn | Depends on plan |
Also Check:
FAQs
What is the policy term of LIC Jeevan Vriddhi?
The policy term is fixed at 10 years.
What is the minimum premium under this plan?
The minimum single premium is Rs. 30,000. Premium should be in multiples of Rs. 1,000.
What is the death benefit in Plan 808?
The death benefit is the Basic Sum Assured. It is equal to 5 times the single premium excluding extra premium and tax.
How is maturity calculated?
Maturity is calculated using the age-wise Guaranteed Maturity Sum Assured factor. The formula is:
Single Premium / 1000 x Age Factor
After that, high premium incentive is added if applicable.
Does LIC Jeevan Vriddhi give Loyalty Addition?
Yes, the plan may give Loyalty Addition on maturity, but it is not guaranteed. It depends on LIC’s declaration.
When can LIC Jeevan Vriddhi be surrendered?
The policy can be surrendered after it has completed at least one policy year.
Is a loan available under LIC Jeevan Vriddhi?
Yes, loan facility is available after completion of one policy year.
Conclusion
LIC Jeevan Vriddhi Plan 808 is a simple single premium LIC plan made for people who wanted one-time premium payment, life cover and guaranteed maturity benefit. It offered a fixed 10-year term, death cover equal to 5 times single premium and maturity based on LIC’s age-wise guaranteed factor.
The LIC Jeevan Vriddhi plan calculator is useful for estimating life cover, Guaranteed Maturity Sum Assured, total maturity benefit, surrender value and approximate return. It is especially helpful for existing policyholders because the plan is now withdrawn.
Amit Kushwaha is a financial content creator and SaaS tool developer based in Lucknow, Uttar Pradesh. He has more than seven years of experience creating insurance-related content, online calculators, and practical digital tools for LIC policyholders, insurance buyers, and LIC agents.
Through LICPolicyCalculator.com, he focuses on simplifying complex LIC policy information into easy-to-understand guides and calculators. His work covers LIC premium estimates, maturity calculations, surrender value tools, policy return calculations, term insurance planning, and plan-specific calculator pages.