LIC Jeevan Surabhi Plan 108 is a traditional money-back life insurance policy with a 25-year policy term and an 18-year premium-paying term. It was designed to provide periodic survival benefits, increasing life cover and bonus participation. LIC has withdrawn this plan from new sales, but the information remains important for existing policyholders who want to check maturity, bonus, death claim or surrender value.

The most important point is that this is not a normal endowment plan where the full Sum Assured is paid again at maturity. Under Plan 108, the entire Basic Sum Assured is paid through five money-back installments. At maturity, the payment mainly consists of vested bonus and any eligible Final Additional Bonus. This is the key concept behind a LIC Jeevan Surabhi Plan 108 maturity calculator.

LIC Jeevan Surabhi Plan 108 at a Glance

Particular	Details
Plan name	LIC’s Jeevan Surabhi – 25 Years
Plan number	108
UIN	512N102V01
Plan category	Traditional participating money-back policy
Policy term	25 years
Premium-paying term	18 years
Survival benefit	20% of Basic Sum Assured at five stages
Maturity benefit	Vested bonus plus Final Additional Bonus, if applicable
Death benefit	Increasing life cover plus vested bonuses
Purchase status	Withdrawn for new sale

LIC’s official plan page shows that Plan 108 was withdrawn on 15 December 2013. Therefore, it cannot be purchased as a fresh LIC policy now.

Also Check:

• LIC Jeevan Surabhi Plan 107 Calculator- 20 Year Policy Calculate Maturity, Benefits
• LIC Jeevan Surabhi Calculator Plan 106 (15 Year) Check Maturity, Bonus, Surrender Value, Premium

What Is LIC Jeevan Surabhi Plan 108?

LIC Jeevan Surabhi Plan 108 is a participating, limited-premium money-back plan. Participating means the policy may receive a share of LIC’s profits in the form of bonuses. Limited premium means premiums are payable for 18 years, while the policy term continues for 25 years.

Instead of waiting until the end of 25 years for one lump sum, the policyholder receives 20% of the Basic Sum Assured at five scheduled points. The policy keeps life cover throughout the term, increases death cover at five-year intervals, and adds declared bonuses to an eligible death claim. Earlier money-back payments do not reduce the death benefit payable to the nominee.

LIC Jeevan Surabhi Plan 108 Benefits

Survival Benefit or Money-Back Payment

The main LIC Jeevan Surabhi Plan 108 benefit is the money-back structure. A policyholder who survives to the end of the specified durations receives 20% of the Basic Sum Assured at each stage.

End of Policy Year	Survival Benefit
4th year	20% of Basic Sum Assured
8th year	20% of Basic Sum Assured
12th year	20% of Basic Sum Assured
15th year	20% of Basic Sum Assured
18th year	20% of Basic Sum Assured
Total paid before maturity	100% of Basic Sum Assured

The total money-back benefit is equal to 100% of the Basic Sum Assured. For example, where the Basic Sum Assured is ₹2,00,000, the policyholder receives ₹40,000 at each scheduled stage, making the total survival benefit ₹2,00,000.

This is why the maturity amount should not be calculated as “Basic Sum Assured plus bonus.” The Basic Sum Assured has already been fully paid through the money-back schedule.

Maturity Benefit

If the policyholder survives until the end of the 25-year policy term, LIC pays all bonuses declared and vested in the policy up to the maturity date. A Final Additional Bonus, commonly known as FAB, may also be payable when declared by LIC and applicable to the policy.

In simple terms, the maturity formula is:

Estimated Maturity Amount =
Total Vested Simple Reversionary Bonus
+ Eligible Final Additional Bonus

The maturity payment does not normally include another Basic Sum Assured because 100% of it has already been distributed through the five survival benefits. A proper Jeevan Surabhi Plan 108 maturity calculator should therefore show money-back benefits and maturity bonus separately.

Death Benefit

Life cover continues for the whole 25-year policy term. The death cover is not fixed; it increases after every five-year interval.

Death During Policy Year	Guaranteed Death Cover
1 to 5	100% of Basic Sum Assured
6 to 10	150% of Basic Sum Assured
11 to 15	200% of Basic Sum Assured
16 to 20	250% of Basic Sum Assured
21 to 25	300% of Basic Sum Assured

The broad death claim calculation is:

Death Claim =
Applicable Increasing Death Cover
+ Vested Simple Reversionary Bonus
+ Eligible Final Additional Bonus, if any

A major Plan 108 benefit is that money-back amounts received earlier are not deducted from the death claim. For example, if a policyholder has received survival benefits in earlier years and dies later during the policy term, the nominee still receives the applicable increased death cover plus declared bonuses.

Bonus Benefit

Plan 108 is a with-profits policy. LIC may declare Simple Reversionary Bonuses every financial year, generally expressed per ₹1,000 of Basic Sum Assured. Once a bonus is declared and attached to the policy, it becomes vested.

A Final Additional Bonus may also be payable at maturity or on eligible death claims. However, FAB is not fixed at the start of the policy. It depends on LIC’s declaration and the policy conditions applicable at the relevant time.

Do not treat an old bonus rate, calculator scenario or illustration figure as a guaranteed rate for every year. For the most accurate maturity calculation, use the vested bonus shown in the policy record or obtain a maturity quotation from LIC.

Supplementary Benefits

The official brochure refers to supplementary or extra benefits available for an additional premium. However, it does not name specific riders in the product summary. Check the original policy schedule before assuming that accident benefit, disability benefit or any other rider is attached to a particular Plan 108 policy.

How LIC Jeevan Surabhi Plan 108 Works

Plan 108 has two different timelines: the premium-paying period and the policy term. Premiums are payable for 18 years, but the policy continues for 25 years.

Policy Stage	What Happens
Years 1 to 3	Premium payment starts; no money-back benefit
End of year 4	First money-back payment of 20%
End of year 8	Second money-back payment of 20%
End of year 12	Third money-back payment of 20%
End of year 15	Fourth money-back payment of 20%
End of year 18	Final premium year and fifth money-back payment
Years 19 to 24	No regular premium; policy coverage continues
End of year 25	Vested bonus and possible FAB paid at maturity

Premiums could be paid yearly, half-yearly, quarterly, monthly or through salary deduction, according to the option chosen under the policy.

This remains a long-term insurance contract. Early surrender can produce a payout lower than total premiums paid, so obtain LIC’s actual surrender quotation before taking a decision.

LIC Jeevan Surabhi Plan 108 Maturity Calculator

A LIC Jeevan Surabhi Plan 108 maturity calculator helps policyholders understand the entire benefit flow rather than showing only one maturity number.

A useful calculator should display:

• Basic Sum Assured
• Annual premium and total premium paid
• Each scheduled 20% survival benefit
• Total money-back received
• Next payable survival benefit
• Estimated vested bonus
• Estimated maturity amount at year 25
• Total benefits across the policy term
• Applicable death cover in a selected year
• Guaranteed Surrender Value estimate

The calculator above follows the official Plan 108 payment structure. It separates fixed money-back amounts from bonus-based estimates so that the result remains easier to understand.

How to Use the LIC Jeevan Surabhi Plan 108 Calculator

First, enter the Basic Sum Assured written in the policy bond. Do not enter the maturity estimate or total death benefit. The Basic Sum Assured is the original policy amount used to calculate money-back installments and increasing death cover.

Next, enter the annual premium. Use the basic policy premium where possible. Separate rider premium should not be mixed into the surrender-value calculation because the brochure’s formula refers to basic premiums.

Then select the policy year for which the estimate is required. For example, choose year 10 to view the money-back received until year 10 and the death cover applicable in that year. Choose year 25 to see the estimated maturity value.

Select a bonus scenario only for planning. The brochure scenarios are illustrative and should not be treated as current LIC bonus declarations. In custom mode, use known bonus details available from the policy statement or LIC branch. Finally, press Calculate to view the benefit schedule, premiums counted, maturity estimate, death benefit estimate and surrender-value logic.

Important Details Needed for Better Results

Keep the policy bond, premium receipts, money-back payment history and LIC policy statement nearby while using the calculator.

The most useful details are:

Detail Needed	Where to Check
Basic Sum Assured	Policy bond or policy schedule
Commencement date	Policy bond
Annual premium	Premium receipt or policy schedule
Premiums paid	LIC payment history
Vested bonus	LIC statement or branch
Final Additional Bonus	LIC quotation, if declared
Previous money-back amounts	Bank statement or LIC payment history

For a policy nearing maturity, ask LIC for the vested-bonus figure or maturity quotation rather than relying only on an estimated annual bonus rate. This is especially important for revived, paid-up or loan-linked policies.

Real LIC Jeevan Surabhi Plan 108 Calculation Example

LIC’s official brochure contains an illustration for a standard life aged 35 years. The example uses a Basic Sum Assured of ₹1,00,000, yearly premium of ₹8,776, a 25-year policy term and an 18-year premium-paying term.

Illustration Detail	Value
Basic Sum Assured	₹1,00,000
Annual premium	₹8,776
Premium-paying term	18 years
Total annual premiums shown	₹1,57,968
Policy term	25 years
Money-back amount at each stage	₹20,000

Step 1: Calculate Total Premium Paid

Annual Premium × Premium-Paying Term

₹8,776 × 18 = ₹1,57,968

This is the total of the annual premiums shown in LIC’s illustration over 18 years. It does not include the time value of money or separate rider amounts.

Step 2: Calculate Scheduled Survival Benefits

As the Basic Sum Assured is ₹1,00,000, every 20% money-back installment equals ₹20,000.

Policy Year	Survival Benefit
4	₹20,000
8	₹20,000
12	₹20,000
15	₹20,000
18	₹20,000
Total Money-Back Received	₹1,00,000

The full ₹1,00,000 Basic Sum Assured is paid in five parts before maturity.

Step 3: Understand the Maturity Illustration

For the same ₹1,00,000 illustration, LIC’s brochure showed a maturity figure of ₹93,000 under Scenario 1 and ₹2,20,500 under Scenario 2. These were variable projections based on assumed 6% and 10% investment-return scenarios, not guaranteed maturity amounts.

Component	Scenario 1	Scenario 2
Total survival benefits	₹1,00,000	₹1,00,000
Illustrative maturity bonus	₹93,000	₹2,20,500
Total policy cash benefits	₹1,93,000	₹3,20,500

This is not a promised return calculation. It only explains the benefit structure. LIC clearly states that future bonus depends on future profits and is not guaranteed until declared.

Step 4: Death Benefit Example in Year 18

At policy year 18, the guaranteed death cover in the official illustration is 250% of the Basic Sum Assured.

₹1,00,000 × 250% = ₹2,50,000

The brochure illustration shows total death benefits of ₹3,00,400 under Scenario 1 and ₹3,67,000 under Scenario 2. These figures include the illustrated variable bonus component. Even if ₹80,000 had already been received through survival benefits in years 4, 8, 12 and 15, those payments are not deducted from the death claim.

LIC Jeevan Surabhi Plan 108 Surrender Value

Plan 108 can be surrendered after it has been in force for at least three years. The Guaranteed Surrender Value rule changes depending on whether a money-back payment has already fallen due.

Before Any Survival Benefit Is Due

Before the first money-back benefit is due, the Guaranteed Surrender Value is:

Guaranteed Surrender Value =
30% × (Basic Premiums Paid − First-Year Basic Premium)

For example, assume three annual basic premiums of ₹8,000 have been paid.

30% × (₹24,000 − ₹8,000) = ₹4,800

This is only a minimum formula illustration, not an official payout quotation.

After a Survival Benefit Has Fallen Due

After one or more money-back benefits have fallen due, the Guaranteed Surrender Value is 30% of the basic premiums paid on or after the due date of the latest survival benefit.

For example, after the year-12 money-back payment, the relevant premium amount is not necessarily every premium paid since policy inception. It is the eligible basic premium paid after the latest applicable money-back due date. This is why the calculator asks separately for “Premium After Latest Money-Back.”

LIC may pay a Special Surrender Value that is equal to or higher than the Guaranteed Surrender Value. The brochure explains that it is linked to the discounted value of reduced future claims and can vary with premiums paid, policy duration and other factors. Therefore, an online calculator cannot provide an exact Special Surrender Value.

Important Points Before Checking Maturity

Do not add the Basic Sum Assured again at maturity. Plan 108 returns it through five money-back payments. Only the bonus component is generally payable at maturity.

Do not treat the 6% and 10% brochure scenarios as fixed returns. They are old illustration assumptions, not guaranteed policy returns. Check the policy schedule before assuming any rider is attached, and obtain LIC’s Special Surrender Value quotation before surrendering.

The original policy bond should always take priority over an online estimate. The actual claim or maturity amount can differ because of policy status, missed premiums, revival, loan adjustment, bonus history or claim-date conditions.

Frequently Asked Questions

Is LIC Jeevan Surabhi Plan 108 still available?

No. LIC’s official plan page lists Plan 108 as withdrawn from 15 December 2013.

What is the maturity amount in LIC Jeevan Surabhi Plan 108?

At the end of 25 years, maturity is generally the total vested bonus plus any eligible Final Additional Bonus. The Basic Sum Assured is not paid again because it has already been distributed through survival benefits.

How many money-back payments are paid under Plan 108?

Five money-back payments are payable. The policy pays 20% of Basic Sum Assured at the end of years 4, 8, 12, 15 and 18. Together, these installments equal 100% of the Basic Sum Assured.

Does the death claim reduce after money-back payments?

No. LIC’s brochure states that survival benefits paid before death are not deducted from the death claim.

Can Plan 108 be surrendered after three years?

Yes. The policy can be surrendered after it has been in force for three years or more. The Guaranteed Surrender Value formula differs before and after a survival benefit due date.

Why does the maturity amount look lower than the Sum Assured?

Because the entire Basic Sum Assured has already been returned through five money-back installments. Maturity is mainly the policy’s bonus component, not a second payment of the Sum Assured.

Final Thoughts

LIC Jeevan Surabhi Plan 108 becomes easy to understand when its complete 25-year schedule is considered. Premiums are paid for 18 years, five money-back installments return 100% of the Basic Sum Assured, life cover rises at fixed intervals during the policy term, and vested bonuses are paid at maturity.

Use the LIC Jeevan Surabhi Plan 108 maturity calculator for planning and benefit tracking. For exact maturity, surrender, loan, revival or death-claim values, rely on the policy bond and LIC’s policy-specific quotation.