LIC Jeevan Shikhar Plan 837 – Savings Cum Protection Plan

LIC Jeevan Shikhar Plan is a typical Single premium payment plan from lic of India. This plan is launched recently 11th January 2016 and was available till 31st March, 2016. This is the new endowment plan is a participating, non-linked, with profit, savings cum protection plan. Under this plan insurer can choose the maturity sum assured value and accordingly the single premium payment will be decided. In this page we will share every details about this policy like LIC Jeevan Shikhar Plan key features, benefits, LIC Jeevan Shikhar Plan return calculation, LIC Jeevan Shikhar Plan premium calculator, survival benefits, surrender value, paid-up etc.

LIC Jeevan Shikhar Plan review


Jeevan Shikhar Plan Eligibility Conditions

Entry Age:
  • Minimum: 6 years (completed).
  • Maximum: 45 years (nearer birthday).
Minimum Maturity Sum Assured:
  • Rs. 100,000/-.
Maximum Maturity Sum Assured:
  • No Limit.
Policy term:
  • 15 years.
Premium Payment Mode:
  • Single Premium.
Maturity Sum Assured: 
  • Multiple of Rs. 20,000/-.
Documents required for a new policy:
  • Application form/Proposal form along with a photo.
  • Address proof.
  • Age proof.
  • Medical reports (if required).

Key features of Jeevan Shikhar Plan

  • Get a very high sum assured value to get enough insurance
  • Choose the Maturity Sum assured value as per your insurance need
  • Guaranteed Return (MSA) + Loyalty addition on maturity as per policy terms
  • Any time surrender option & higher surrender value
  • Get income tax exemption for premium payment amount and also maturity value under 10(10D)

LIC Jeevan Shikhar Plan review 837

Lic Jeevan Shikhar Plan 837 Benefits

Death Benefits:

On death during first five policy years:

Before the date of commencement of risk : Refund of Single Premium without interest.

Single Premium mentioned above shall not include any extra amount if charged under the policy due to underwriting decision and taxes.

After the date of commencement of risk : “Sum Assured on Death” equal to 10 times the tabular single premium shall be payable.

On death after completion of five policy years but before the stipulated Date of Maturity:

“Sum Assured on Death “equal to 10 times the tabular single premium along with Loyalty Addition, if any, shall be payable.

Maturity Benefits: On survival of the Life Assured to the end of policy term, insurer will get sum assured value + loyalty addition if any.

Survival Benefits: It is similar to the maturity benefit only.

Income Tax Benefit: The premium paid can be income tax exempted under section 80C. The Maturity Benefit is also tax free under section 10(10)D subject to fulfilment of all terms and conditions.

Loan Facility:  Available after 3 months of issuance of policy as per table below.

Policy year Maximum Loan Amount as a % of surrender value for age at entry <=35 Maximum Loan Amount as a % of surrender value for age at entry >35 years.
* 3 month to 3rd 55% 35%
4th to 6th 65% 50%
7th to 9th 75% 70%
10th to 12th 80% 80%
13th to 15th 85% 85%

Policy Revival: Check policy document.

Riders available:  No Information yet.



Maturity Sum Assured (M.S.A)


Reduction in Tabular premium per Rs.1000/- Maturity Sum Assured


Below Rs.2,00,000 Nil
Rs.2,00,000 to Rs. 4,80,000 Rs. 15.00
Rs.5,00,000 and Rs. 9,80,000 Rs. 20.00
Rs.10,00,000 and above Rs. 25.00

Suicide Clause:
The policy shall be void if the Life Assured (whether sane or insane) commits suicide at any time within 12 months from the date of commencement of the risk, an amount which is higher of 90% of the Single Premium or Surrender Value shall be payable. The Corporation will not entertain any other claim under this policy.

Surrender Value: One can surrender this policy anytime after purchase of this plan as per below rules.

  • First year: 70% of the Single Premium.
  • Thereafter: 90% of the Single Premium.

LIC Jeevan Shikhar Plan Premium Calculator

Simply visit lic of India official website and loo for the lic online premium calculators segment where you will find respective calculators to know how much premium is necessary for a fixed sum assured value.

Sample premium rates

Age at entry (Nearest Birthday)


Tabular Single Premium Rates (Rs.)


10 398.55
20 410.25
30 425.80
40 514.80

For more details about this policy, please visit LIC Jeevan Shikhar Plan 837 official page.

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