LIC Jeevan Sangam Maturity Calculator helps existing policyholders estimate the likely maturity amount, single premium, death benefit, surrender value, and loan eligibility under LIC Jeevan Sangam Plan 831. It is useful when the original policy bond is unavailable, the Maturity Sum Assured needs to be checked, or a quick estimate is required before contacting LIC.

LIC Jeevan Sangam was a participating, non-linked, single-premium savings and protection plan. The policy had a fixed term of 12 years. Since it is a withdrawn LIC plan, this calculator is meant for old policyholders who already hold the policy, not for purchasing a new policy. LIC lists Plan 831 under its withdrawn plans and provides the original sales brochure on its official website.

The main benefit of this plan is simple: a policyholder paid the premium once, received life cover during the policy period, and became eligible to receive the Maturity Sum Assured plus Loyalty Addition, if any, after completing 12 years.

This page explains how the LIC Jeevan Sangam maturity calculator works, what details are needed, how to calculate the premium, and how maturity and surrender values are estimated.

LIC Jeevan Sangam Plan 831 at a Glance

Feature	Details
Plan name	LIC’s Jeevan Sangam
Plan number	831
UIN	512N295V01
Plan type	Participating, non-linked savings-cum-protection plan
Premium mode	Single premium only
Policy term	12 years
Minimum entry age	6 years completed
Maximum entry age	50 years nearest birthday
Minimum Maturity Sum Assured	₹75,000
Higher Maturity Sum Assured	In multiples of ₹10,000
Maximum Maturity Sum Assured	No limit
Basic Sum Assured	10 times the tabular single premium
Loan facility	Available after 3 months, subject to LIC conditions
Current status	Withdrawn for new sale

The plan allowed the policyholder to choose a Maturity Sum Assured. The single premium depended on the policyholder’s age and the selected Maturity Sum Assured. The policy term remained fixed at 12 years for every policyholder.

Also Check:

• LIC Jeevan Umang Calculator

What Is LIC Jeevan Sangam Maturity Calculator?

LIC Jeevan Sangam Maturity Calculator is an online tool that helps estimate the key financial values of Plan 831. It is particularly useful for policyholders who want to know what may be payable when the policy reaches maturity.

The calculator can show:

• Estimated one-time premium
• Basic Sum Assured for death benefit
• Guaranteed Maturity Sum Assured
• Estimated maturity value after Loyalty Addition
• Surrender value based on completed policy year
• Loan eligibility period
• Risk commencement status
• Year-wise death benefit estimate

The calculator should be treated as an estimation tool. The exact amount payable depends on the policy bond, LIC’s actual premium table applicable at the time of issue, any extra premium charged, tax paid, and Loyalty Addition declared by LIC.

How to Use LIC Jeevan Sangam 831 Maturity Calculator Online

Using the LIC Jeevan Sangam 831 maturity calculator online is straightforward. Keep the policy bond nearby because the exact Maturity Sum Assured and policy commencement date are generally printed on it.

Step 1: Enter Age at Entry

Enter the age of the life assured when the policy was purchased. LIC allowed entry from 6 years completed to 50 years nearest birthday.

Age is mainly needed to estimate the original single premium. For an existing policyholder who knows the exact premium from the policy bond, the calculator result can be compared with the actual policy premium.

Step 2: Enter Maturity Sum Assured

Enter the Maturity Sum Assured selected under the policy. The minimum amount was ₹75,000. Above ₹75,000, the amount had to be selected in multiples of ₹10,000.

For example, valid figures may include:

Valid Maturity Sum Assured Examples
₹75,000
₹80,000
₹1,00,000
₹2,00,000
₹5,00,000

The Maturity Sum Assured is the guaranteed base amount payable at the end of 12 years if the policyholder survives until maturity.

Step 3: Select Completed Policy Year

Choose the policy year that has been completed. This allows the calculator to estimate the guaranteed surrender value.

The surrender value rule is different for the first year and later years. Therefore, selecting the correct policy year is important.

Step 4: Add Loyalty Addition, If Known

Loyalty Addition is not fixed or guaranteed. It depends on LIC’s experience and declaration. Enter this amount only when LIC has already declared it or when a policy-specific value is available.

If the exact Loyalty Addition is not known, keep the figure at zero. The calculator will then show the guaranteed maturity amount only.

Step 5: Click Calculate Benefits

After entering the details, the calculator displays the premium estimate, death cover, maturity amount, surrender estimate, loan eligibility, and policy year table.

LIC Jeevan Sangam Premium Calculation Formula

LIC Jeevan Sangam was a single-premium policy. This means the entire premium was paid at the beginning of the policy. There were no yearly, half-yearly, quarterly, or monthly premium instalments.

The calculation is based on the tabular single premium rate for the policyholder’s age and selected Maturity Sum Assured.

Tabular Single Premium
= (Maturity Sum Assured ÷ 1,000) × Premium Rate

High Maturity Sum Assured Rebate
= (Maturity Sum Assured ÷ 1,000) × Applicable Rebate

Estimated Single Premium
= Tabular Single Premium − High Maturity Sum Assured Rebate

Taxes and extra premium, if any, are not included in this basic calculation.

The LIC brochure provides specimen premium rates for selected ages. These rates are before applying the high Maturity Sum Assured rebate and exclude taxes or extra premiums.

LIC Jeevan Sangam Sample Premium Rates

Age at Entry	Tabular Single Premium Rate per ₹1,000 Maturity Sum Assured
10 years	₹472.70
20 years	₹485.30
30 years	₹497.55
40 years	₹567.35

The calculator may estimate values for other ages through rate interpolation. However, the final policy premium should always be checked from the original policy schedule or LIC records.

High Maturity Sum Assured Rebate

LIC offered a rebate when the selected Maturity Sum Assured crossed a specified level.

Maturity Sum Assured	Reduction in Tabular Premium per ₹1,000
Below ₹2,00,000	Nil
₹2,00,000 to ₹3,90,000	₹15
₹4,00,000 and above	₹20

This rebate reduces the premium payable. However, the Basic Sum Assured for death benefit is linked to the tabular single premium, not the tax-inclusive premium paid by the policyholder.

LIC Jeevan Sangam Maturity Benefit Formula

The maturity benefit under LIC Jeevan Sangam Plan 831 is simple.

Maturity Benefit
= Maturity Sum Assured + Loyalty Addition, if any

The Maturity Sum Assured is guaranteed under the policy terms. Loyalty Addition is variable and may be payable only if LIC declares it.

A common mistake is assuming that Loyalty Addition is guaranteed at a fixed percentage. That is incorrect. LIC stated that Loyalty Addition depends on the Corporation’s experience and may be declared under the applicable terms. The policy should have completed at least five policy years for Loyalty Addition to become relevant on death or surrender.

The official benefit illustration also stated that projected investment return assumptions are not guaranteed. In the illustration, the projected Loyalty Addition was shown as nil under both the 4% and 8% scenarios.

Maturity Sum Assured vs Basic Sum Assured

Many policyholders confuse these two terms. They serve different purposes in LIC Jeevan Sangam Plan 831.

Term	Meaning
Maturity Sum Assured	Amount payable on survival after 12 years, plus Loyalty Addition if declared
Basic Sum Assured	Death benefit base amount after risk commencement
Tabular Single Premium	Premium calculated from LIC’s age-based premium table before rebate, tax, or extra premium
Single Premium Paid	Actual one-time premium paid after applicable rebate, plus tax and extra premium where applicable

The Basic Sum Assured was equal to 10 times the tabular single premium.

Basic Sum Assured
= 10 × Tabular Single Premium

This is an important point because the death benefit should not be calculated as 10 times the tax-inclusive amount paid by the policyholder.

LIC Jeevan Sangam Maturity Calculator Example

Here is a practical example using the official sample rate for age 30.

Policy Details Used

Detail	Value
Age at entry	30 years
Maturity Sum Assured	₹2,00,000
Policy term	12 years
Tabular premium rate	₹497.55 per ₹1,000
High MSA rebate	₹15 per ₹1,000
Loyalty Addition	Not assumed in guaranteed result

Step 1: Calculate Tabular Single Premium

Maturity Sum Assured = ₹2,00,000

₹2,00,000 ÷ ₹1,000 = 200

Tabular Single Premium
= 200 × ₹497.55
= ₹99,510

Step 2: Calculate High Maturity Sum Assured Rebate

Rebate
= 200 × ₹15
= ₹3,000

Step 3: Calculate Estimated Single Premium

Estimated Single Premium
= ₹99,510 − ₹3,000
= ₹96,510

This estimated premium is before tax and before any additional underwriting premium.

Step 4: Calculate Basic Sum Assured

Basic Sum Assured
= 10 × ₹99,510
= ₹9,95,100

Therefore, after risk commencement, the death benefit base amount in this example would be ₹9,95,100.

Step 5: Calculate Maturity Amount

Guaranteed Maturity Amount
= ₹2,00,000

If LIC later declares a Loyalty Addition of ₹15,000 for this policy, then:

Estimated Total Maturity Amount
= ₹2,00,000 + ₹15,000
= ₹2,15,000

The guaranteed amount is ₹2,00,000. The additional ₹15,000 depends entirely on LIC’s actual Loyalty Addition declaration and must not be treated as certain.

LIC Jeevan Sangam Death Benefit

LIC Jeevan Sangam provided death benefit in different ways depending on the timing of death and the risk commencement status.

Situation	Benefit Payable
Death before risk commencement	Refund of single premium excluding tax and extra premium
Death after risk commencement during first 5 policy years	Basic Sum Assured
Death after five completed policy years but before maturity	Basic Sum Assured + Loyalty Addition, if declared
Survival until maturity	Maturity Sum Assured + Loyalty Addition, if declared

The Basic Sum Assured is 10 times the tabular single premium. Loyalty Addition may apply only after the policy has run for at least five years and LIC has declared it.

Risk Commencement for Children Below Age 8

This point is important for policies purchased in a child’s name.

Age at Entry	Risk Commencement
Below 8 years	One day before the policy anniversary coinciding with or immediately following age 8
8 years and above	Immediate from policy commencement date

For a child below age 8, full death cover does not start immediately. Before risk commencement, the death benefit is limited to the refund of single premium excluding tax and extra premium, without interest.

LIC Jeevan Sangam Surrender Value Calculator

A LIC Jeevan Sangam surrender value calculator estimates how much may be received if the policy is surrendered before maturity.

The policy could be surrendered at any time during the policy year. LIC specified the following Guaranteed Surrender Value rules.

Policy Stage	Guaranteed Surrender Value
During first policy year	70% of single premium excluding tax and extra premium
After first policy year	90% of single premium excluding tax and extra premium

LIC may pay the Special Surrender Value if it is higher than the Guaranteed Surrender Value. After completing five policy years, Loyalty Addition may also become payable on surrender if declared by LIC.

Surrender Value Example

Using the earlier estimated premium of ₹96,510:

First-Year Guaranteed Surrender Value
= 70% of ₹96,510
= ₹67,557

Guaranteed Surrender Value After First Year
= 90% of ₹96,510
= ₹86,859

This is only the guaranteed minimum based on the brochure rule. The actual surrender amount may be higher if LIC’s Special Surrender Value is higher on the surrender date.

Loan Facility Under LIC Jeevan Sangam Plan 831

Loan was available under LIC Jeevan Sangam after three months from the date of policy issuance. The actual loan amount, interest rate, and repayment terms were subject to LIC’s conditions applicable at that time.

The calculator can show the loan eligibility date:

Loan Eligibility Date
= Policy Issue Date + 3 Months

A calculator should not show a fixed loan amount unless the policyholder has an official LIC loan quotation. The maximum eligible loan can differ based on surrender value, outstanding interest, and LIC rules in force at the time of application.

Free-Look Period

LIC Jeevan Sangam had a cooling-off period of 15 days from the date of receipt of the policy document.

During this period, the policyholder could return the policy if the terms and conditions were not acceptable. LIC could deduct proportionate risk premium for the period of cover, stamp duty charges, medical examination costs, and charges for special reports, if applicable.

Suicide Clause

If the life assured committed suicide within 12 months from the commencement of risk, the policy would become void. In that case, LIC would pay the higher of:

90% of single premium paid excluding tax and extra premium
OR
Surrender Value

The suicide clause did not apply when the age at entry was below 8 years.

Is LIC Jeevan Sangam Plan 831 Still Available?

No. LIC Jeevan Sangam Plan 831 is a withdrawn plan and is not available for fresh purchase.

However, existing policyholders can continue to use the LIC Jeevan Sangam maturity calculator to understand policy benefits, estimate maturity value, check surrender rules, review death benefit, and identify loan eligibility.

The original policy bond remains the most important document because it contains the actual premium, policy commencement date, Maturity Sum Assured, and other policy-specific conditions.

Important Things to Remember Before Using the Calculator

• Enter the Maturity Sum Assured exactly as shown in the policy bond.
• Use the calculator only as an estimate if the original premium chart is unavailable.
• Do not include GST or other tax in Basic Sum Assured calculations.
• Do not assume Loyalty Addition unless LIC has declared it.
• Check the policy issue date before calculating loan eligibility.
• Use the actual policy premium for surrender calculations whenever possible.
• Compare the calculator estimate with LIC’s official policy records before making a surrender or loan decision.
• Do not treat the maturity estimate as an investment-return promise.

Frequently Asked Questions

What is LIC Jeevan Sangam Plan 831?

LIC Jeevan Sangam Plan 831 was a participating, non-linked, single-premium savings-cum-protection plan with a fixed 12-year policy term. It offered death protection during the term and a maturity amount on survival.

How is LIC Jeevan Sangam maturity amount calculated?

The maturity amount is calculated as:

Maturity Sum Assured + Loyalty Addition, if declared

The Maturity Sum Assured is guaranteed. Loyalty Addition is variable and depends on LIC’s declaration.

What is the minimum Maturity Sum Assured in LIC Jeevan Sangam?

The minimum Maturity Sum Assured was ₹75,000. Higher amounts had to be selected in multiples of ₹10,000.

What is the death benefit under LIC Jeevan Sangam Plan 831?

After risk commencement, the Basic Sum Assured is payable during the first five policy years. After five completed policy years, Basic Sum Assured plus Loyalty Addition, if any, may be payable.

How is Basic Sum Assured calculated?

Basic Sum Assured is equal to 10 times the tabular single premium.

Basic Sum Assured = 10 × Tabular Single Premium

What is the surrender value in the first year?

The Guaranteed Surrender Value during the first year is 70% of the single premium excluding tax and extra premium.

What is the surrender value after the first year?

After the first policy year, the Guaranteed Surrender Value is 90% of the single premium excluding tax and extra premium. LIC may pay a higher Special Surrender Value if applicable.

Can a policyholder take a loan against LIC Jeevan Sangam?

Yes. Loan facility was available after three months from policy issuance, subject to LIC’s prevailing rules and conditions.

Is Loyalty Addition guaranteed in LIC Jeevan Sangam?

No. Loyalty Addition is not guaranteed. It depends on LIC’s experience and declaration.

Is LIC Jeevan Sangam Plan 831 available for purchase now?

No. The plan has been withdrawn and cannot be purchased as a new LIC policy.

Conclusion

LIC Jeevan Sangam Maturity Calculator makes it easier to understand the benefits of Plan 831 without going through complex policy wording. It can estimate the original single premium, Basic Sum Assured, guaranteed maturity amount, surrender value, and loan eligibility in one place.

The most important point is that the guaranteed maturity amount is the Maturity Sum Assured. Loyalty Addition can increase the final payout, but it should never be assumed as a fixed or guaranteed amount.

For accurate maturity, surrender, or loan figures, compare the calculator result with the original LIC policy bond and obtain a policy-specific quotation from LIC before taking any financial decision.