LIC Jeevan Amrit Plan 186 Calculator
| Benefit Type | Calculation Basis | Estimated Amount |
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| Particular | Calculation Basis | Estimated Amount |
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LIC Jeevan Amrit Plan 186 is a limited premium LIC policy. This policy is designed for people who want higher life cover with a short premium payment period. This plan is no longer available for new buyers; it was withdrawn on 08.12.2013, but existing policyholders still need to calculate premium, maturity amount, death benefit, paid-up value, surrender value, and loan estimates.
The LIC Jeevan Amrit Plan 186 maturity calculator can help you to check estimated values in one place. The calculator follows the key rules given in the LIC brochure, such as a 3, 4, or 5-year premium-paying term, a 10- to 30-year policy term, yearly or half-yearly premium mode, bonus, surrender value, and loan value.
What Is LIC Jeevan Amrit Plan 186?
LIC Jeevan Amrit Plan 186 UIN 512N243V01 is a with-profit, limited premium life insurance plan. In this policy, the premium is paid only for a short period, but life cover continues for the full policy term. Under this plan, premium payment is limited to 3, 4 or 5 years. The first-year premium is higher than the premium payable in later years.
This plan is different from other regular endowment plans. In many LIC plans, maturity benefit is linked with Sum Assured. But in LIC Jeevan Amrit Plan 186, maturity benefit is based on total premiums paid, along with vested bonus and Final Additional Bonus, if any.
LIC Jeevan Amrit Quick Facts
| Particular | Details |
|---|---|
| Plan Name | LIC Jeevan Amrit |
| Plan No. | 186 |
| UIN | 512N243V01 |
| Plan Type | With-Profit Limited Premium Plan |
| Premium Paying Term | 3, 4 or 5 years |
| Policy Term | 10 to 30 years |
| Premium Mode | Yearly or Half-yearly |
| Minimum Entry Age | 12 years |
| Maximum Entry Age | 60 years |
| Maximum Maturity Age | 70 years |
| Minimum Sum Assured | ₹1,00,000 |
| Maximum Sum Assured | No limit |
| Current Status | Withdrawn |
| Withdrawal Date | 08.12.2013 |
LIC Jeevan Amrit Plan 186 Calculator
The LIC Jeevan Amrit calculator helps estimate important policy values based on age, Sum Assured, policy term, premium paying term, premium mode, and bonus rate.
This calculator can be used for:
- First-Year Premium: Premium payable in the first policy year
- Subsequent Premium: Premium payable after the first year
- Total Premium Paid: Total premium during the selected premium paying term
- Maturity Benefit: Estimated value at policy maturity
- Death Benefit: Estimated nominee benefit during policy term
- Paid-Up Value: Value if premium payment stops after at least one full year
- Surrender Value: Estimated policy surrender amount
- Loan Eligibility: Estimated loan amount based on surrender value
The main benefit of this calculator is that it does not only show premium or maturity. It also gives a broader view of paid-up value, surrender value and loan estimate. This is important because existing policyholders may need these values while reviewing old policies.
How to Use LIC Jeevan Amrit Plan 186 Calculator
Using the LIC Jeevan Amrit Plan 186 maturity calculator online is simple. Only basic policy details are needed.
First, enter the age of the life assured. The allowed age range in this plan is from 12 years to 60 years. Then enter the Sum Assured. The minimum Sum Assured is ₹1,00,000, and there is no maximum limit as per the brochure.
Next, enter the policy term. LIC Jeevan Amrit Plan 186 allows a policy term from 10 years to 30 years. The maturity age should not be more than 70 years, so age plus policy term must be checked carefully.
After that, select the premium-paying term. The available options are 3 years, 4 years and 5 years. Then choose the premium mode: yearly or half-yearly.
The calculator also asks for the bonus rate per ₹1,000 and the Final Additional Bonus. Since bonuses are not guaranteed, these values are used only for estimation. If the actual bonus rate is not known, an assumed bonus rate can be entered to get an approximate result.
After entering all details, click the calculate button. The calculator will show premium, maturity benefit, death benefit, paid-up value, surrender value, loan amount, and year-wise schedule.
Eligibility Conditions of Jeevan Amrit Plan 186
LIC has given clear eligibility rules for this plan. These rules are important for both policy understanding and calculator validation.
| Eligibility Rule | Details |
|---|---|
| Minimum Entry Age | 12 years, last birthday |
| Maximum Entry Age | 60 years, nearest birthday |
| Maximum Maturity Age | 70 years, nearest birthday |
| Minimum Sum Assured | ₹1,00,000 |
| Maximum Sum Assured | No limit |
| Premium Paying Term | 3 to 5 years |
| Policy Term | 10 to 30 years |
The most important calculator rule is:
Age + Policy Term must not be more than 70 years.
For example, if the age is 45 years, the maximum possible policy term should be 25 years because 45 + 25 = 70. A 30-year term will not match the maximum maturity age rule.
Premium Paying Term in Jeevan Amrit Plan 186
Premium Paying Term, or PPT, means the number of years for which premium must be paid. Plan 186 gives three options:
| Premium Paying Term | Meaning |
|---|---|
| 3 Years | Premium paid for only 3 years |
| 4 Years | Premium paid for only 4 years |
| 5 Years | Premium paid for only 5 years |
This short payment structure is the main attraction of this plan. Premium is paid for a limited period, but policy cover continues for the full selected policy term.
The first-year premium is higher than the premium payable from the second year onward. This is why the calculator separately shows first-year premium and subsequent premium.
Premium Mode
LIC Jeevan Amrit Plan 186 allows two premium payment modes:
| Premium Mode | Rule |
|---|---|
| Yearly | 2% rebate on tabular premium |
| Half-Yearly | No mode rebate |
The calculator uses this rule while estimating premium. If yearly mode is selected, a 2% mode rebate is applied. If half-yearly mode is selected, no mode rebate is applied.
The premium formula is:
Premium = (Sum Assured / 1000) × Premium Rate
Sum Assured Rebate in Jeevan Amrit Plan 186
Jeevan Amrit Plan 186 gives a high Sum Assured rebate when the Sum Assured is ₹2 lakh or above. This rebate is different for the first-year premium and subsequent premiums.
| Sum Assured Range | Rebate Status |
|---|---|
| Less than ₹2 lakh | No rebate |
| ₹2 lakh to below ₹3 lakh | Rebate available |
| ₹3 lakh to below ₹5 lakh | Higher rebate |
| ₹5 lakh to below ₹10 lakh | Higher rebate |
| Above ₹10 lakh | Highest rebate slab |
Maturity Benefit
As per the LIC brochure, maturity benefit is:
Total Premiums Paid + Vested Simple Reversionary Bonus + Final Additional Bonus, if any
The important point is that the guaranteed maturity base is total premiums paid, excluding extra premium. It is not simply Sum Assured plus bonus. This difference should be clearly understood before using any maturity calculator.
For example, if total premium paid is ₹16,778 and bonus is ₹10,025, then estimated maturity before Final Additional Bonus will be ₹26,803. If Final Additional Bonus is also declared, it will be added separately.
Death Benefit
Death benefit is payable if the life assured dies during the policy term. As per the LIC brochure, the death benefit is:
Sum Assured + Vested Simple Reversionary Bonus + Final Additional Bonus, if any
This amount is payable in lump sum. The Sum Assured works as the main death cover. Bonus and Final Additional Bonus increase the total payable amount, if applicable.
For example, if the Sum Assured is ₹1,00,000 and vested bonus is ₹20,000, the estimated death benefit can be ₹1,20,000 plus any Final Additional Bonus.
Bonus in LIC Jeevan Amrit Plan 186
LIC Jeevan Amrit Plan 186 is a with-profit plan. This means the policy can participate in LIC’s profits. LIC may declare a Simple Reversionary Bonus at the end of each financial year.
However, bonus is not guaranteed. It depends on LIC’s future performance and declaration. LIC also mentions that Final Additional Bonus may be declared if all premiums are paid and the policy has run for a required minimum period.
For calculator use, the most important point is the bonus base. In this plan, Simple Reversionary Bonus is calculated per ₹1,000 of the total amount of premiums paid, excluding extra premium. Therefore, the calculator should not calculate bonus directly on Sum Assured.
Paid-Up Value in LIC Jeevan Amrit Plan 186
A policy becomes paid-up when at least one full year’s premium has been paid, and later premiums are not paid. In that case, the policy does not become fully void, but benefits are reduced.
The LIC brochure explains that the Paid-Up Sum Assured is equal to the total amount of premiums paid, excluding extra premium.
The paid-up death benefit is: Paid-Up Sum Assured + Vested Bonus
The paid-up maturity benefit is also: Paid-Up Sum Assured + Vested Bonus
This feature is useful for old policyholders who stopped paying premiums after one or more years. The calculator gives an estimate of paid-up value based on premiums paid years and assumed bonus.
Surrender Value
LIC Jeevan Amrit Plan 186 can be surrendered after completing at least one policy year, provided premiums for one full year have been paid.
LIC officially says the surrender amount will be higher of:
Guaranteed Surrender Value Special Surrender Value
Guaranteed Surrender Value is: 30% of total premiums paid excluding extra premium
Cash value of existing vested bonuses is also payable in addition.
Special Surrender Value depends on LIC’s factor and policy conditions..
Loan Facility
Loan is available under this plan within the surrender value. The LIC mentions that the rate of interest was 9% per annum, payable half-yearly, subject to LIC’s terms from time to time.
The calculator estimates the loan using this simple formula: Estimated Loan = Surrender Value × Loan Percentage
Half-yearly interest can be calculated as: Half-Yearly Interest = Loan Amount × Interest Rate / 2
This loan section is useful for policyholders who want to know whether their old LIC Jeevan Amrit policy can support a loan.
Grace Period, Revival and Cooling-Off Period
LIC Jeevan Amrit Plan 186 also includes important policy service rules.
| Feature | Rule |
|---|---|
| Grace Period | One calendar month, but not less than 30 days |
| Revival | Within 5 years by paying unpaid premiums with interest |
| Cooling-Off Period | 15 days |
| Suicide Exclusion | Suicide excluded for first year |
| Nomination | Available as per Section 39 of Insurance Act, 1938 |
Grace period gives extra time for premium payment. Revival helps restart a lapsed policy, subject to LIC conditions and proof of continued insurability.
Calculation Example Jeevan Amrit Plan 186
The LIC brochure gives an official calculation example for age 35 years, policy term 25 years, and Sum Assured ₹1,00,000. Below is a simplified version.
Scenario 1: Premium Paying Term 3 Years
| Particular | Value |
|---|---|
| Age | 35 years |
| Policy Term | 25 years |
| Premium Paying Term | 3 years |
| Sum Assured | ₹1,00,000 |
| First-Year Premium | ₹7,149 |
| Subsequent Annual Premium | ₹3,577 |
| Total Premium Paid | ₹14,303 |
| Maturity Scenario 1 | ₹23,006 |
| Maturity Scenario 2 | ₹62,665 |
| Death Benefit at Year 25 Scenario 1 | ₹1,08,703 |
| Death Benefit at Year 25 Scenario 2 | ₹1,48,362 |
In this example, the premium is paid only for 3 years. The policy continues for 25 years. At maturity, the guaranteed base is the total premium paid, and a bonus is added based on the illustrated scenario.
Scenario 2: Premium Paying Term 5 Years
| Particular | Value |
|---|---|
| Age | 35 years |
| Policy Term | 25 years |
| Premium Paying Term | 5 years |
| Sum Assured | ₹1,00,000 |
| First-Year Premium | ₹8,389 |
| Subsequent Annual Premium | ₹2,097 |
| Total Premium Paid | ₹16,778 |
| Maturity Scenario 1 | ₹26,802 |
| Maturity Scenario 2 | ₹68,054 |
| Death Benefit at Year 25 Scenario 1 | ₹1,10,025 |
| Death Benefit at Year 25 Scenario 2 | ₹1,51,277 |
In the official example, there are two assumed return scenarios: 6% per annum and 10% per annum. These are only illustrations and are not guaranteed. Actual benefits depend on LIC’s declared bonus and policy conditions.
Why This Calculator Is Useful
The LIC Jeevan Amrit Plan 186 calculator is useful because this plan has a special benefit structure. Many policyholders may wrongly assume that maturity will be equal to Sum Assured plus bonus. But this plan’s maturity benefit is based on total premiums paid plus bonus.
The calculator helps estimate:
- Premium difference between first year and later years
- Total premium paid during 3, 4 or 5 years PPT
- Approximate maturity benefit
- Approximate death benefit
- Paid-up value if premiums are stopped
- Estimated surrender value
- Estimated loan value
It also helps understand whether the policy is still useful to continue, surrender or keep paid-up. However, the final decision should be based on official LIC records.
Important Points Before Using the Calculator
LIC Jeevan Amrit Plan 186 is a withdrawn policy, so it is not available for new purchase. The calculator is mainly useful for existing policyholders or for educational understanding.
The result is only an estimate. Bonus rates, Final Additional Bonus, Special Surrender Value and final payable amount may vary. LIC-declared bonus and policy status will decide the actual value.
For exact maturity, surrender or loan value, policy bond details and LIC branch records should be checked.
Also Check:
FAQs on LIC Jeevan Amrit Plan 186
What is the maturity benefit of LIC Jeevan Amrit Plan 186?
The maturity benefit is total premiums paid excluding extra premium, plus vested Simple Reversionary Bonus and Final Additional Bonus, if any.
Is maturity calculated on Sum Assured?
No. In this plan, maturity benefit is not simply Sum Assured plus bonus. It is based on total premiums paid plus vested bonus and Final Additional Bonus, if any.
What is the minimum Sum Assured?
The minimum Sum Assured is ₹1,00,000. There is no maximum Sum Assured limit as per the brochure.
What is the premium paying term?
The premium paying term can be 3 years, 4 years or 5 years.
What is the policy term?
The policy term can be from 10 years to 30 years, subject to maximum maturity age of 70 years.
Can this policy become paid-up?
Yes. If at least one full year’s premium has been paid and later premiums are not paid, the policy can become paid-up.
Can LIC Jeevan Amrit Plan 186 be surrendered?
Yes. It can be surrendered after at least one policy year, provided one full year’s premium has been paid.
Is loan available in this plan?
Yes. Loan is available within surrender value. The brochure mentions 9% p.a. interest payable half-yearly, subject to LIC terms.
Conclusion
LIC Jeevan Amrit Plan 186 was designed for people who wanted high life cover with a short premium payment period. Premium was payable for only 3, 4 or 5 years, while the policy continued for a longer term.
The LIC Jeevan Amrit Plan 186 maturity calculator online is useful for estimating premium, maturity amount, death benefit, paid-up value, surrender value and loan eligibility. The most important point is that maturity benefit in this plan is based on total premiums paid plus vested bonus and Final Additional Bonus, if any.
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.
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