LIC Jan Suraksha Plan 880 Calculator helps calculate the estimated premium, maturity amount, total premium paid, Guaranteed Additions and death benefit under LIC Jan Suraksha.
LIC Jan Suraksha is a small savings and protection policy from LIC. It is also called LIC Plan 880 and its UIN number is 512N388V01. This plan gives life cover during the policy term and a maturity amount if the life assured survives until the end of the policy term.
Use the LIC Jan Suraksha Plan 880 Calculator above to estimate the yearly, half-yearly, quarterly and monthly premium. The calculator also helps understand the expected maturity benefit under LIC Plan 880.
Table of Contents
LIC Jan Suraksha Plan 880 Calculator
The LIC Plan 880 maturity calculator is designed to make policy calculation easier.
Enter the following details in the calculator:
- Age at entry
- Basic Sum Assured
- Policy term
- Premium payment mode
- Official yearly premium, if available
- Online purchase option, if applicable
After entering the details, the calculator shows:
- Approximate yearly premium
- Half-yearly premium
- Quarterly premium
- Monthly premium
- Premium Paying Term
- Total premium paid
- Guaranteed Addition rate
- Total Guaranteed Additions
- Estimated maturity amount
- Death benefit in the selected year
The calculator provides an estimated result. Final premium and benefits are always based on LIC’s official quotation, policy schedule, applicable taxes and underwriting rules.
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What Is LIC Jan Suraksha Plan 880?
LIC Jan Suraksha Plan 880 is a Non-Par, Non-Linked, Individual, Savings, Life Micro Insurance Plan.
It is an endowment-style policy. The plan combines insurance protection with savings.
If the life assured dies during the policy term, LIC pays the death benefit along with accrued Guaranteed Additions. If the life assured survives until maturity, LIC pays the Basic Sum Assured along with accrued Guaranteed Additions.
This policy is a non-par plan. It does not offer a bonus, final additional bonus, a loyalty addition or a share in LIC’s profits. Instead, the plan provides Guaranteed Additions as per policy rules.
LIC Jan Suraksha Plan 880 Overview
| Feature | Details |
|---|---|
| Plan Name | LIC’s Jan Suraksha |
| Plan Number | 880 |
| UIN Number | 512N388V01 |
| Plan Type | Non-Par, Non-Linked, Individual Savings Life Micro Insurance Plan |
| Minimum Basic Sum Assured | ₹1,00,000 |
| Maximum Basic Sum Assured | ₹2,00,000 |
| Policy Term | 12 to 20 years |
| Premium Paying Term | Policy Term minus 5 years |
| Minimum Entry Age | 18 years completed |
| Maximum Entry Age | 55 years nearest birthday |
| Maximum Maturity Age | 70 years nearest birthday |
| Premium Modes | Yearly, Half-Yearly, Quarterly, Monthly through NACH, Salary Deduction |
| Loan Facility | Available after first policy year, subject to policy conditions |
| Auto Cover | Available after payment of 3 full years’ premiums |
LIC Jan Suraksha Plan 880 Eligibility
LIC Jan Suraksha is available for standard healthy lives without medical examination.
The minimum entry age is 18 years completed. The maximum entry age is 55 years nearest birthday.
The minimum Basic Sum Assured is ₹1 lakh. The maximum Basic Sum Assured is ₹2 lakh per life.
The Basic Sum Assured must be selected in multiples of ₹5,000.
The policy term can be selected between 12 years and 20 years. The Premium Paying Term is always five years less than the policy term.
For example, if the policy term is 15 years, the Premium Paying Term will be 10 years.
LIC Plan 880 Premium Paying Term
The Premium Paying Term is calculated as:
Premium Paying Term = Policy Term − 5 Years
| Policy Term | Premium Paying Term |
|---|---|
| 12 Years | 7 Years |
| 13 Years | 8 Years |
| 14 Years | 9 Years |
| 15 Years | 10 Years |
| 16 Years | 11 Years |
| 17 Years | 12 Years |
| 18 Years | 13 Years |
| 19 Years | 14 Years |
| 20 Years | 15 Years |
After the Premium Paying Term ends, premium payments stop. The policy continues until the maturity date.
LIC Jan Suraksha Plan 880 Premium Payment Modes
LIC allows different premium payment options under this plan.
| Premium Mode | Premium Conversion Factor |
|---|---|
| Yearly | 1.0000 |
| Half-Yearly | 0.5090 |
| Quarterly | 0.2568 |
| Monthly | 0.0861 |
Monthly premium payment is available through NACH only.
The yearly premium is multiplied by the applicable conversion factor to calculate half-yearly, quarterly and monthly premiums.
For example, if the yearly premium is ₹10,000:
| Premium Mode | Calculation | Premium |
|---|---|---|
| Yearly | ₹10,000 × 1.0000 | ₹10,000 |
| Half-Yearly | ₹10,000 × 0.5090 | ₹5,090 |
| Quarterly | ₹10,000 × 0.2568 | ₹2,568 |
| Monthly | ₹10,000 × 0.0861 | ₹861 |
Applicable taxes are charged extra.
LIC Plan 880 Sample Yearly Premium Rates
LIC has provided sample yearly premium rates for ₹1 lakh Basic Sum Assured. These rates do not include applicable taxes.
| Age | 12-Year Term | 15-Year Term | 20-Year Term |
|---|---|---|---|
| 25 Years | ₹13,270 | ₹9,015 | ₹5,800 |
| 35 Years | ₹13,325 | ₹9,080 | ₹5,900 |
| 45 Years | ₹13,530 | ₹9,340 | ₹6,250 |
| 55 Years | ₹14,150 | ₹10,035 | Not Available |
Actual premium can change according to age, policy term, Basic Sum Assured, mode of payment, purchase channel and LIC underwriting rules.
LIC Plan 880 Maturity Calculator Formula
The LIC Plan 880 maturity calculator uses this formula:
Maturity Benefit = Basic Sum Assured + Accrued Guaranteed Additions
The maturity benefit is paid when the life assured survives until the end of the policy term and all due premiums have been paid.
The Sum Assured on Maturity is equal to the Basic Sum Assured selected at policy purchase.
Guaranteed Additions are added every policy year under an in-force policy.
Guaranteed Additions in LIC Jan Suraksha Plan 880
Guaranteed Additions are one of the most important features of LIC Jan Suraksha.
They accrue at the end of every policy year from the start of the policy until the end of the policy term.
The base Guaranteed Addition rate is:
4.00% of Total Annualised Premium in respect of premiums paid
The yearly Guaranteed Addition is calculated as:
Guaranteed Addition = Applicable GA Rate × Annualised Premium
The applicable GA rate may increase if the policy qualifies for incentives.
Guaranteed Addition Incentives
High Basic Sum Assured Incentive
| Basic Sum Assured | Additional Guaranteed Addition Rate |
|---|---|
| ₹1,00,000 to ₹1,95,000 | Nil |
| ₹2,00,000 | 0.25% |
A policy with ₹2 lakh Basic Sum Assured gets a Guaranteed Addition rate of 4.25%.
Online Purchase Incentive
A direct online proposal completed without agent or intermediary assistance may get an extra Guaranteed Addition incentive of 1.00%.
This incentive is added to the normal GA rate.
| Policy Type | Applicable GA Rate |
|---|---|
| Regular policy from ₹1 lakh to ₹1.95 lakh | 4.00% |
| ₹2 lakh Basic Sum Assured policy | 4.25% |
| Direct online policy from ₹1 lakh to ₹1.95 lakh | 5.00% |
| Direct online policy with ₹2 lakh Basic Sum Assured | 5.25% |
LIC Jan Suraksha Plan 880 Maturity Example
Suppose the policy details are:
| Detail | Value |
|---|---|
| Age at Entry | 30 Years |
| Basic Sum Assured | ₹1,00,000 |
| Policy Term | 15 Years |
| Premium Paying Term | 10 Years |
| Yearly Premium | ₹9,000 |
| Guaranteed Addition Rate | 4.00% |
Yearly Guaranteed Addition:
₹9,000 × 4% = ₹360
Estimated Guaranteed Additions for 15 policy years:
₹360 × 15 = ₹5,400
Estimated maturity benefit:
₹1,00,000 + ₹5,400 = ₹1,05,400
This example is only for understanding. The actual maturity amount depends on the premium in LIC’s official benefit illustration and policy schedule.
LIC Jan Suraksha Plan 880 Death Benefit
If the life assured dies during the policy term and all due premiums are paid, LIC pays the death benefit along with accrued Guaranteed Additions.
The Sum Assured on Death is the higher of:
- 7 times the Annualised Premium, or
- Basic Sum Assured
The death benefit cannot be less than 105% of total premiums paid up to the date of death.
The calculation can be understood as:
Death Benefit = Higher of 7 × Annualised Premium or Basic Sum Assured + Accrued Guaranteed Additions
Annualised premium excludes taxes, rider premium, underwriting extra premium and modal loading.
LIC Plan 880 Death Benefit Example
Suppose:
| Detail | Value |
|---|---|
| Basic Sum Assured | ₹1,00,000 |
| Annualised Premium | ₹9,000 |
| 7 Times Annualised Premium | ₹63,000 |
The higher value is ₹1,00,000.
Therefore, the Sum Assured on Death will be ₹1,00,000. Accrued Guaranteed Additions are added separately.
LIC also checks that the final death benefit is not lower than 105% of the total premiums paid up to the date of death.
Optional Riders Under LIC Jan Suraksha Plan 880
LIC offers two optional riders under this plan. Only one rider can be selected.
LIC Accidental Death and Disability Benefit Rider
This rider can be selected during the Premium Paying Term if at least 5 years of Premium Paying Term remain.
If accidental death happens within 180 days of the accident, the Accident Benefit Sum Assured is paid in lump sum.
If accidental disability happens within 180 days from the accident, an amount equal to Accident Benefit Sum Assured is paid in monthly instalments over 10 years.
The rider Sum Assured cannot exceed the Basic Sum Assured.
LIC Accident Benefit Rider
This rider can be selected during the Premium Paying Term if at least 5 years of Premium Paying Term remain.
If accidental death happens within 180 days of the accident, the Accident Benefit Sum Assured is paid in lump sum.
The rider Sum Assured cannot exceed three times the Basic Sum Assured.
The premium for either rider cannot exceed 30% of the base policy premium.
Loan Facility Under LIC Jan Suraksha
LIC Jan Suraksha provides a loan facility after completion of the first policy year and payment of at least one full year’s premium.
The loan is available within the surrender value of the policy.
For an in-force policy, loan can be available up to 80% of surrender value.
For a paid-up policy, loan can be available up to 70% of surrender value.
Any unpaid loan and interest are deducted from maturity benefit, surrender value or death claim amount.
If the total loan amount and interest become more than the surrender value, LIC may foreclose the policy.
Surrender Value Under LIC Plan 880
The policy can be surrendered after completion of one policy year if at least one full year’s premium has been paid.
Guaranteed Surrender Value becomes available after payment of at least two full years’ premiums.
Special Surrender Value can become available after completion of the first policy year if one full year’s premium has been paid.
At surrender, LIC pays the higher of:
- Guaranteed Surrender Value plus surrender value of accrued Guaranteed Additions, or
- Special Surrender Value
Surrender value is generally low during early years. The policy should be taken only after understanding the complete premium commitment.
Grace Period Under LIC Jan Suraksha
LIC gives a grace period for paying the premium.
| Premium Mode | Grace Period |
|---|---|
| Yearly | 30 Days |
| Half-Yearly | 30 Days |
| Quarterly | 30 Days |
| Monthly | 15 Days |
The policy remains in force during the grace period, subject to policy terms.
If premium is not paid before the grace period ends, the policy may lapse.
Paid-Up Value and Revival
If at least one full year’s premium has been paid and later premiums are not paid, the policy may continue as a paid-up policy as per LIC conditions.
A lapsed policy may be revived within five consecutive complete years from the date of first unpaid premium, before maturity.
For revival, LIC may ask for unpaid premium, interest, health declaration or additional medical information.
LIC may accept or reject revival according to its underwriting rules.
Auto Cover Under LIC Jan Suraksha
LIC Jan Suraksha provides auto cover after payment of three full years’ premiums.
This feature gives continued insurance protection for a specified period after premium default, subject to policy conditions.
Auto cover does not remove the need to pay future premiums. The exact period and conditions should be checked from the policy document.
POSP-LI and CPSC-SPV Rules
Special rules apply when LIC Jan Suraksha is purchased through POSP-LI or CPSC-SPV.
| Feature | Rule |
|---|---|
| Maximum Entry Age | 53 Years |
| Maximum Maturity Age | 65 Years |
| Rider Facility | Not Available |
| Waiting Period | 90 Days for non-accidental death claims |
If death happens within the first 90 days from commencement of risk, LIC refunds total premiums paid if the policy is in force and death is not due to accident.
If death happens due to an accident during the waiting period, normal death benefit is payable as per policy rules.
Free Look Period
LIC gives a 30-day free look period from the date of receipt of the physical or electronic policy document, whichever is earlier.
During this period, the policyholder can read and understand all policy conditions.
If the policyholder does not agree with the policy terms, it can be returned to LIC within the free look period.
LIC refunds the premium after deducting proportionate risk premium, stamp duty charges and rider risk premium, if applicable.
Suicide Exclusion
If the life assured commits suicide within 12 months from the date of commencement of risk, the nominee or beneficiary may receive 80% of total premiums paid.
Taxes, extra premium and rider premium are excluded from this calculation.
If suicide occurs within 12 months from revival, LIC pays the higher of:
- 80% of total premiums paid until death, excluding taxes, extra premium and rider premium, or
- surrender value available on the date of death
No other claim is payable in such cases.
Is LIC Jan Suraksha Plan 880 Good?
LIC Jan Suraksha Plan 880 can be suitable for people who want a small savings plan with life insurance protection.
It may be useful for people looking for:
- Basic life cover
- Fixed maturity benefit structure
- Limited premium payment period
- Guaranteed Additions
- Loan facility after the first policy year
- Low Basic Sum Assured range
However, the maximum Basic Sum Assured is ₹2 lakh. This may not be enough for people with major family responsibilities, high loans or large income replacement needs.
People who need large life insurance protection can compare term insurance plans. People looking for investment growth may compare other savings options based on their financial goal and risk level.
LIC Jan Suraksha Plan 880 Calculator FAQs
What is LIC Jan Suraksha Plan 880?
LIC Jan Suraksha Plan 880 is a Non-Par, Non-Linked, Individual Savings Life Micro Insurance Plan. It provides life cover, maturity benefit, Guaranteed Additions, loan facility and a limited premium payment option.
What is the UIN number of LIC Plan 880?
The UIN number of LIC Jan Suraksha Plan 880 is 512N388V01.
How is LIC Plan 880 maturity calculated?
LIC Plan 880 maturity benefit is calculated as:
Basic Sum Assured + Accrued Guaranteed Additions
Does LIC Jan Suraksha provide bonus?
No. LIC Jan Suraksha is a non-par policy. It does not provide bonus, final additional bonus or share in LIC surplus. It provides Guaranteed Additions.
What is the Guaranteed Addition rate in LIC Jan Suraksha?
The base Guaranteed Addition rate is 4.00% of total annualised premium in respect of premiums paid. Extra incentives may apply for ₹2 lakh Basic Sum Assured and eligible direct online purchase.
What is the minimum and maximum sum assured?
The minimum Basic Sum Assured is ₹1 lakh and the maximum Basic Sum Assured is ₹2 lakh.
Can a loan be taken under LIC Jan Suraksha Plan 880?
Yes. Loan facility is available after completion of the first policy year and payment of at least one full year’s premium, subject to surrender value and LIC conditions.
What is the grace period under LIC Plan 880?
The grace period is 30 days for yearly, half-yearly and quarterly modes. Monthly premium mode gets a grace period of 15 days.
Can LIC Jan Suraksha be surrendered?
Yes. The policy can be surrendered after completion of one policy year if at least one full year’s premium has been paid. Guaranteed Surrender Value starts after payment of at least two full years’ premiums.
Final Words
LIC Jan Suraksha Plan 880 is a simple micro insurance savings plan that gives life cover and maturity value with Guaranteed Additions.
The LIC Jan Suraksha Plan 880 Calculator helps estimate premium, total premium paid, Guaranteed Additions, maturity amount and death benefit. Before buying the plan, check LIC’s official benefit illustration, premium quotation, policy schedule, rider conditions and applicable taxes.
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.
The content and tools published on this website are prepared using LIC official brochures, policy documents, benefit illustrations, and publicly available plan information. The objective is to help users better understand policy features, premium commitments, maturity benefits, surrender rules, and other important insurance calculations before making decisions.
LICPolicyCalculator.com is an independent educational platform and is not affiliated with Life Insurance Corporation of India.