LIC New Jeevan Mangal Plan 819 Calculator

The LIC New Jeevan Mangal Plan 819 Calculator helps existing policyholders estimate maturity benefit, death benefit, accidental death benefit, paid-up value and Guaranteed Surrender Value. LIC withdrew this version from new business on 1 April 2016, so it is no longer available for fresh purchase.

Plan 819 offered life cover with return of eligible premiums at maturity. It also included an accident benefit that could provide an additional amount equal to the Sum Assured. For reliable results, use the premium and policy information printed in the original policy schedule.

LIC New Jeevan Mangal Plan 819 Quick Overview

What Is the LIC New Jeevan Mangal Plan 819 Calculator?

The calculator is an estimation tool for policies carrying Plan Number 819 and UIN 512N287V01. It applies the benefit formulas and sample premium rates published in LIC’s official brochure.

It can help estimate:

• Total eligible premiums payable
• Maturity benefit
• Sum Assured on Death
• Total benefit for an eligible accidental death
• Death Paid-up Sum Assured
• Guaranteed Surrender Value

It cannot confirm Special Surrender Value, revival interest, revival approval or final claim eligibility. LIC must determine these policy-specific matters.

Highlights of the Calculator

• Handles regular-premium and single-premium policies separately
• Uses official brochure sample rates where available
• Compares all applicable regular-premium death-benefit values
• Applies Plan 819’s three-year paid-up requirement
• Uses the official term-wise surrender factors
• Keeps taxes and extra premium outside benefit calculations
• Helps explain an older policy in a simple format

Details Required for Calculation

Keep these details ready before using the calculator:

• Premium type
• Age at entry
• Policy term
• Sum Assured
• Premium payment mode
• Eligible premium shown in the policy schedule
• Number of premiums paid
• Current or completed policy year
• Present policy status

Where the calculator asks for the eligible premium, enter the amount excluding taxes and any extra premium.

How to Use the LIC New Jeevan Mangal Plan 819 Calculator

1. Select Regular Premium or Single Premium.
2. Enter the age at entry, policy term and Sum Assured.
3. For regular premium, select yearly, half-yearly, quarterly or monthly mode.
4. Enter the eligible premium from the policy schedule where manual entry is available.
5. Enter the number of premiums paid for a paid-up estimate.
6. Select the policy year for a surrender estimate.
7. Click Calculate and review each benefit separately.

What Is LIC New Jeevan Mangal Plan 819?

LIC New Jeevan Mangal Plan 819 was a protection-oriented micro-insurance policy. Premiums could be paid regularly throughout the term or as one lump-sum payment. When an in-force policy reached maturity, LIC returned the eligible premiums paid during the contract term.

The plan also offered an in-built accident benefit. For an eligible accidental death, LIC paid the normal death benefit plus an additional amount equal to the Sum Assured.

Plan 819 was not a bonus-based endowment policy. Its maturity benefit did not include a reversionary bonus, loyalty addition or assumed investment growth. As a result, the maturity amount could be lower than the Sum Assured used for life cover.

Also Check:

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• LIC New Jeevan Mangal Plan 940 Calculator
• LIC Jeevan Mangal Calculator Plan All in One
• LIC Jeevan Mangal Plan 198 Maturity Calculator

LIC New Jeevan Mangal Plan 819 Main Highlights

• Return of eligible premiums on maturity
• Regular and single-premium choices
• In-built additional accidental death benefit
• Sum Assured from ₹10,000 to ₹50,000
• Paid-up facility after premiums for three full years
• Surrender facility subject to the applicable conditions
• No policy-loan facility

LIC New Jeevan Mangal Plan 819 Benefits

• Maturity benefit: Eligible premiums paid during the term are returned when the life assured survives to maturity and the policy is in force.
• Death benefit: The Sum Assured on Death is payable when death occurs while the policy is in force.
• Accident benefit: An additional amount equal to the Sum Assured is payable for an eligible accidental death.
• Paid-up benefit: Reduced death cover can continue after at least three full years’ premiums have been paid.
• Surrender benefit: The policy can acquire a Guaranteed Surrender Value and LIC may pay a higher Special Surrender Value.

Eligibility for LIC New Jeevan Mangal Plan 819

There was no specific minimum instalment premium for yearly, half-yearly or quarterly mode. The selected term also had to keep the maturity age within the maximum limit of 65 years.

Premium Payment Options and Sample Rates

Regular premiums could be paid yearly, half-yearly, quarterly or monthly. Alternatively, a single premium could be paid at the beginning of the policy.

The following selected rates are from LIC’s official brochure and are quoted per ₹1,000 Sum Assured.

Sample Annual Premium Rates

Sample Single Premium Rates

These are sample figures rather than a complete age-wise quotation table. Use the premium printed in the policy schedule for an existing policy.

Official Brochure-Based Calculation Example

Assume these policy details:

The Sum Assured contains 50 units of ₹1,000:

Illustrative annual premium = 50 × ₹38.15
                            = ₹1,907.50

If all 15 annual premiums are paid:

Estimated maturity benefit = ₹1,907.50 × 15
                            = ₹28,612.50

This illustration excludes taxes and extra premium. The actual amount printed in the policy schedule may differ.

LIC New Jeevan Mangal Plan 819 Maturity Benefit

Provided the policy is in force, LIC pays the Sum Assured on Maturity when the life assured survives to the maturity date.

Sum Assured on Maturity =
Total eligible premiums paid during the policy term

Taxes and extra premium are excluded. Plan 819 did not add a bonus or assumed market return to the maturity value.

Death Benefit for a Regular-Premium Policy

For death from a cause other than an accident while the policy is in force, LIC defines the Sum Assured on Death as the highest of:

1. Ten times the annualised premium
2. 105% of eligible premiums paid up to the date of death
3. Sum Assured on Maturity
4. Sum Assured

Suppose death occurs after five annual premiums in the earlier example:

The highest value is ₹50,000.

Death Benefit for a Single-Premium Policy

For a single-premium policy, the Sum Assured on Death is the higher of:

1. 125% of the eligible single premium
2. Sum Assured

For age 30, a ten-year term and ₹50,000 Sum Assured, the sample single premium is ₹7,220.

125% of ₹7,220 = ₹9,025
Sum Assured     = ₹50,000

The estimated Sum Assured on Death is therefore ₹50,000.

Accidental Death Benefit Under Plan 819

For an eligible accidental death, an additional amount equal to the Sum Assured is payable.

Total eligible accidental death benefit =
Sum Assured on Death + Additional Sum Assured

If both amounts are ₹50,000, the estimated total is ₹1,00,000. The claim must satisfy the accident conditions and exclusions.

Paid-Up Value Under Plan 819

Paid-up value applies only to regular-premium policies. If at least three full years’ premiums have been paid and a later premium is missed, the policy can continue with reduced death cover.

Death Paid-up Sum Assured =
Sum Assured on Death ×
(premiums paid ÷ total premiums payable)

For example, assume the Sum Assured on Death has first been calculated as ₹50,000 and five out of 15 yearly premiums have been paid:

Death Paid-up Sum Assured = ₹50,000 × (5 ÷ 15)
                          = ₹16,666.67

The premium counts in the numerator and denominator must use the same payment mode. On maturity of a paid-up Plan 819 policy, the eligible premiums actually paid are payable, excluding taxes and extra premium.

LIC New Jeevan Mangal Plan 819 Surrender Value

A single-premium policy could be surrendered at any time during its term. A regular-premium policy acquired surrender eligibility after premiums had been paid for at least three consecutive policy years.

Single-Premium Guaranteed Surrender Value

Regular-Premium Guaranteed Surrender Value

Guaranteed Surrender Value =
Total eligible premiums paid × applicable GSV factor

The 0% factors in the first two years do not create surrender eligibility. A regular-premium policy required premiums for three consecutive policy years.

LIC may pay a Special Surrender Value when it is more favourable. A calculator cannot confirm that amount because LIC determines it according to the policy and its applicable basis.

Grace Period, Lapse and Revival

The plan allowed a grace period of two calendar months, but not less than 60 days, for all regular premium modes. If a premium remained unpaid after this period, the policy lapsed.

A lapsed policy could be revived within two years from the first unpaid premium date and before maturity. Revival required arrears of premium with applicable interest and satisfactory evidence of continued insurability. LIC determined the interest rate and whether revival could be accepted.

LIC New Jeevan Mangal Plan 819 Exclusions

For a single-premium policy, suicide within 12 months from commencement of risk resulted in payment of 90% of the eligible single premium instead of the normal claim.

For an in-force regular-premium policy, suicide within 12 months from commencement of risk generally resulted in payment of 80% of eligible premiums paid. If suicide occurred within 12 months from revival, the higher of 80% of eligible premiums paid up to death or the surrender value was payable, subject to the stated conditions.

The additional accident amount was excluded in specified cases such as intentional self-injury, attempted suicide, certain intoxicants, war or riot-related activity, criminal breach of law and specified racing or adventure activities. It was also excluded if death occurred more than 180 days after the accident.

Tax Rule for LIC New Jeevan Mangal Plan 819

Applicable taxes were collected separately and did not form part of the maturity, death, paid-up or surrender calculations. Income-tax benefits or implications depend on prevailing law and individual eligibility and should not be treated as guaranteed by the calculator.

Frequently Asked Questions

Is LIC New Jeevan Mangal Plan 819 still available?

No. LIC withdrew Plan 819 from new business on 1 April 2016. Existing policies continue according to their terms.

How is its maturity benefit calculated?

For an in-force policy, maturity benefit equals eligible premiums paid during the contract term. Taxes and extra premium are excluded.

When does Plan 819 acquire paid-up value?

A regular-premium policy can continue with reduced death cover after premiums for at least three full years have been paid and a later premium is missed.

When can a regular-premium policy be surrendered?

It acquires surrender eligibility after premiums have been paid for at least three consecutive policy years.

Can the calculator show the exact Special Surrender Value?

No. LIC determines Special Surrender Value. The calculator can estimate Guaranteed Surrender Value using the official factor table.

Conclusion

The LIC New Jeevan Mangal Plan 819 Calculator helps existing policyholders understand maturity, death, accidental death, paid-up and Guaranteed Surrender Value estimates. The most reliable calculation uses the premium and policy details printed in the policy schedule. Since Plan 819 is withdrawn, the calculator is meant for understanding an existing policy rather than purchasing a new one. LIC’s records and the policy bond remain final.