Formula
P = (T − R) × S / 1000
I = P × c
T = A / (ä × (1 − λ))
M = G + q × T × Σt=1n min(t, k) × S / 1000
P × Σt=0k−1 (1 + r)−t = M (1 + r)−n
where
- P
- annual premium
- T
- tabular premium per ₹1,000 of sum assured, for your age, term and premium paying term
- R
- high sum assured rebate, ₹ per ₹1,000, from this plan's table (nil on smaller policies)
- S
- Basic Sum Assured
- I
- each instalment
- c
- instalment as a share of the annual premium: 1 yearly, 0.509 half-yearly, 0.2568 quarterly or 0.0861 monthly
- A
- present value, per ₹1,000 of sum assured, of everything the policy pays: death cover, survival benefits and maturity
- ä
- present value of ₹1 a year, paid at the start of each year of the premium paying term while you are alive
- λ
- expense loading, 13.25%
- M
- maturity amount
- G
- guaranteed maturity sum, equal to S
- q
- guaranteed addition rate, 4% of the tabular premiums paid to date, credited at the end of each policy year
- min(t, k)
- the number of yearly premiums paid by the end of year t
- r
- annualised return: the rate that makes both sides equal
- n
- policy term, in years
- k
- premium paying term, in years
*Source LIC Jan Suraksha brochure (PDF)
In short (tl;dr)
Jan Suraksha is a non-participating micro insurance endowment. You pay for five years less than the term, and at maturity receive the sum assured plus guaranteed additions of 4% of the premiums paid each year.
Worked example: at 35, ₹1,00,000 of cover over 20 years costs ₹5,900 a year for 15 years and is projected to pay ₹1,46,020 at maturity, a return of 3.82% a year.
What is LIC Jan Suraksha?
Jan Suraksha (Plan 880) is a small endowment in LIC's micro insurance range, for a Basic Sum Assured of ₹1 lakh to ₹2 lakh. The term is 12 to 20 years and premiums are paid for five years less, so a 15-year policy is funded over 10 years. It is sold without a medical examination, to standard healthy lives aged 18 to 55.
It is non-participating, so it earns no bonus. Instead, at the end of every policy year LIC adds a Guaranteed Addition equal to 4% of the total annualised premiums paid so far. The addition grows each year while premiums are being paid and stays level once they stop, and it keeps accruing to the end of the term. At ₹2 lakh of sum assured the rate is 4.25%, and a policy bought online without an agent earns another 1%.
LIC's brochure works one through. A 35-year-old takes ₹2 lakh for 15 years and pays ₹18,160 a year for 10 years, ₹1,81,600 in all. The additions come to ₹81,039, so the maturity benefit is ₹2,81,039, and every rupee of it is guaranteed.
If premiums stop after three full years, death cover continues for six months from the first unpaid premium; after five full years, for two years. Guaranteed additions also keep accruing on a paid-up policy, at a rate reduced in proportion to the premiums paid.
Key features
- Guaranteed Addition of 4% of premiums paid, credited every policy year to the end of the term
- Premiums payable for the policy term minus five years
- Basic Sum Assured from ₹1 lakh to ₹2 lakh, no medical examination
- Higher addition rate at ₹2 lakh (4.25%) and for online purchase (plus 1%)
- Loan up to 80% of the surrender value after the first policy year
Jan Suraksha at a glance
- Plan number
- 880
- Category
- Micro Insurance
- Entry age
- 18 to 55 years
- Policy term
- 12 to 20 years
- Premium paying term
- Policy term minus 5 years
- Sum assured
- ₹1 Lakh to ₹2 Lakh
- Maximum maturity age
- 70 years
- UIN
- 512N388V01
We checked the plan number and UIN above against LIC's own page for this plan on 2026-10-02. Check it on licindia.in
What are the benefits of LIC Jan Suraksha?
What does LIC Jan Suraksha pay on death?
Sum Assured on Death, the higher of the Basic Sum Assured and 7 times the annualised premium, never less than 105% of premiums paid, plus the Guaranteed Additions accrued, with the current year's addition paid for the full year.
What do you get at maturity?
The Basic Sum Assured plus all Guaranteed Additions accrued over the policy term. Both are guaranteed.
Who is LIC Jan Suraksha for?
Someone who wants a small, fully guaranteed savings amount with cover attached, a shorter payment period than the term, and no medical examination.
What should you watch out for?
The additions are 4% of premiums, so the guaranteed gain is modest: in LIC's own example ₹1,81,600 of premiums becomes ₹2,81,039 over 15 years. This calculator uses the base 4% rate. It does not add the 0.25% extra at ₹2 lakh or the 1% for buying online, so on a policy that qualifies its maturity figure is a little low.
What does LIC Jan Suraksha cost?
Worked out on a 20-year term with premiums paid for 15 years. Change any of these in the calculator above for your own figures.
By sum assured, at age 35
| Sum assured | Premium a year | Total paid in | Projected maturity |
|---|---|---|---|
| ₹1,00,000 | ₹5,900 | ₹88,500 | ₹1,46,020 |
| ₹2,00,000 | ₹11,800 | ₹1,77,000 | ₹2,92,040 |
Premiums are modelled on this plan's own tabular rates. The additions on this plan are contractual rather than declared, so unlike a with-profits plan the figure does not rest on a bonus declaration.
By age, on ₹1,00,000 of cover
Sum assured moves the premium almost in a straight line, so the table above is easy to read across. Age does not, and it is the input people most often want to test before filling anything in.
| Age at entry | Premium a year | Total paid in | Projected maturity | Age when it pays |
|---|---|---|---|---|
| 25 years | ₹5,868 | ₹88,027 | ₹1,45,774 | 45 |
| 30 years | ₹5,877 | ₹88,155 | ₹1,45,841 | 50 |
| 40 years | ₹5,954 | ₹89,306 | ₹1,46,439 | 60 |
| 50 years | ₹6,244 | ₹93,667 | ₹1,48,707 | 70 |
The premium barely moves across the rows. Mortality is a small part of a savings premium and the savings part is the same at any age. What age changes is the last column: when the money arrives, and how old you are when it does.
LIC's own sample premium, from the brochure
From the sourceNot modelled: this is the table LIC prints in its own brochure (Sales brochure, section 8 Sample Premium Rates (agent channel)), at ₹1,00,000 of cover, the sum assured LIC chose to illustrate. Everywhere else on this page the premium is worked out for the sum assured you enter; here it is fixed at that figure, because that is what LIC published.
These figures are taken from the document linked below. Check them there.
| Age at entry | 7 years | 10 years | 15 years |
|---|---|---|---|
| 25 | ₹13,270 | ₹9,015 | ₹5,800 |
| 35 | ₹13,325 | ₹9,080 | ₹5,900 |
| 45 | ₹13,530 | ₹9,340 | ₹6,250 |
| 55 | ₹14,150 | ₹10,035 | Not printed |
Priced on ₹1,00,000 of cover, exclusive of taxes, standard lives. Our own model is anchored on the age 35, 20-year term, 15-year premium term cell in this table; the other cells are the real test of the model, and the editorial and methodology policy publishes how far off they run.editorial and methodology policy publishes how far off they run.
Where the maturity figure comes from
Taken apart, on the ₹1,00,000 policy in the first table. Every line is contractual on this plan: the additions are written into the policy at a stated rate rather than declared each year, so none of this depends on how LIC's investments do.
- Basic sum assured (guaranteed)
- ₹1,00,000
- Guaranteed additions
- ₹46,020
- Paid at maturity
- ₹1,46,020
- Return a year on the premiums
- 3.82%
When does LIC Jan Suraksha pay for itself?
The grey line is what you have paid in by each policy year. The yellow line is what the policy has paid back by then. They cross in year 20, which is the point the policy has returned everything it cost.
That return counts everything the policy pays back, income included, against everything you put in, after the cost of the life cover it carried for 20 years. It is not a market return. On this plan the figures behind it are contractual, so it moves only with the age and term you enter.
Who can take LIC Jan Suraksha?
Age to start
- Minimum
- 18 years
- Maximum
- 55 years
Policy term
- Minimum
- 12 years
- Maximum
- 20 years
Age when the policy matures
- Maximum
- 70 years
Your age at entry plus the policy term cannot come to more than 70.
Years you pay for
- Premium paying term
- Policy term minus 5 years
Sum assured
- Minimum
- ₹1,00,000
- Maximum
- ₹2,00,000
The calculator applies every limit above. LIC sets them out under "Eligibility Conditions and Other Restrictions" on page 2 of the Jan Suraksha sales brochure, linked in the form above.
Tax on LIC Jan Suraksha
Two provisions do the work, and both turn on the size of the premium rather than on the plan. The Income-tax Act, 2025 renumbered both from 1 April 2026 without changing the rules, so each is given here under its old number and its new one.
Section 80C, now Section 123, on what you pay in
Premiums count towards the ₹1.5 lakh limit, in the year they are paid, if you are on the old regime. The deduction is restricted where the annual premium is more than 10% of the sum assured.
Section 10(10D), now Schedule II, on what comes back
Maturity proceeds are exempt where the premium in every year stays inside 10% of the sum assured, and, for a policy issued on or after 1 April 2023, where the premiums on all such policies together stay inside ₹5 lakh a year. Death proceeds are exempt either way.
Where this policy sits
The ₹1,00,000 policy priced above costs ₹5,900 a year, which is 5.9% of the sum assured. That is inside the 10% test, on both provisions. A larger sum assured moves the ratio down.
GST
Nil. Individual life insurance premiums have been exempt since 22 September 2025, so the instalment the calculator shows is the amount that leaves your account.
None of this is tax advice. Which regime you are on, what else you hold and when the policy was issued all change the answer, so confirm your own position with a tax adviser before you rely on it.
How this calculator works
Jan Suraksha is priced here on its own parameters, not a generic formula. We build the plan's full cash-flow schedule, meaning the death benefit in each policy year, every survival payout and the maturity value, then discount it on a basis calibrated to a reference premium for this plan. That reference is checked two ways: against LIC's published tabular rate, and against the return the plan's own benefits imply for the policyholder.
- Reference premium
- ₹59.00 per ₹1,000 at age 35, 20-year term, 15-year premium term
- Discount basis
- 5.01% a year, on LIC (2012-14) Ultimate mortality
- Guaranteed additions
- 4% of the tabular premiums paid to date, added at the end of every policy year for the whole term.
- GST
- Nil. Individual life insurance premiums have been exempt from GST since 22 September 2025, so the instalments shown are what you actually pay.
Bonus rates are declared annually and are not guaranteed; only the sum assured and any contractual guaranteed additions are. Read our editorial and methodology policyfor the full basis, and confirm every figure with LIC before you buy.
Check the source:Jan Suraksha on licindia.inLIC valuation and bonus declarationsIRDAI regulations
How LIC Jan Suraksha compares
The plans people weigh this one against, and what separates each from it.
| Plan | Policy term | You pay for | Cover from | What is different |
|---|---|---|---|---|
| Jan SurakshaNo. 880 · this page | 12 to 20 years | Term minus 5 years | ₹1 Lakh | A non-par micro endowment: pay for five years less than the term, collect the sum assured plus guaranteed additions. |
| Bima JyotiNo. 760 | 15 to 20 years | Term minus 5 years | ₹1 Lakh | Non-participating endowment with a guaranteed addition of ₹50 per ₹1000 every year. |
| Jeevan AzadNo. 768 | 15 to 20 years | Term minus 8 years | ₹2 Lakh | Short premium term, guaranteed maturity equal to the sum assured. |
| New Endowment PlanNo. 714 | 12 to 35 years | The full term | ₹2 Lakh | LIC's plainest savings-and-cover contract: the sum assured plus bonus at maturity, and nothing paid out before it. |
| Saral Jeevan BimaNo. 859 | 5 to 40 years | The full term | ₹5 Lakh | The standard term plan every insurer must offer, with identical terms across the market. |
To price several of these against each other on the same age and sum assured, the LIC premium calculator runs every plan on the site through the same engine and puts the answers in one table.
LIC Jan Suraksha: frequently asked questions
What is the premium for LIC Jan Suraksha?
LIC's brochure prints yearly premiums, before tax, for ₹1 lakh of Basic Sum Assured bought through an agent. At age 25: ₹13,270 for 12 years (7 years' premiums), ₹9,015 for 15 years (10) and ₹5,800 for 20 years (15). At 35: ₹13,325, ₹9,080 and ₹5,900. At 45: ₹13,530, ₹9,340 and ₹6,250. At 55: ₹14,150 and ₹10,035; the 20-year term is not available at 55.
How are the guaranteed additions worked out?
At the end of each policy year LIC adds 4% of the total annualised premiums paid so far. On ₹1 lakh at age 35 over 15 years, the premium is ₹9,080, so the first year adds ₹363, the second ₹726, and so on up to ₹3,632 a year once all ten premiums are in, which then repeats for the last five years.
What is the maturity value of Jan Suraksha?
The Basic Sum Assured plus the accrued Guaranteed Additions. In the brochure's illustration, ₹2 lakh for 15 years at age 35 pays ₹2,81,039 at maturity against ₹1,81,600 of premiums.
Is there a higher addition rate for a bigger policy?
Yes. At ₹2,00,000 of Basic Sum Assured the rate rises from 4% to 4.25% of premiums paid. A policy bought online without an agent or intermediary gets another 1% on top. The two can be combined.
Who can buy Jan Suraksha?
Standard healthy lives aged 18 (completed) to 55 (nearer birthday), with no medical examination, as long as the policy matures by 70. Bought through a Point of Sales Person or a Common Public Service Centre, the limits are 53 at entry and 65 at maturity, no riders are offered, and a death from anything but an accident in the first 90 days returns the premiums paid.
What is the most I can buy?
₹2,00,000 of Basic Sum Assured across all Jan Suraksha policies on one life, in multiples of ₹5,000 from the ₹1,00,000 minimum.
Can I take a loan on Jan Suraksha?
Yes, after the first policy year once a full year's premium is paid: up to 80% of the surrender value on an in-force policy and 70% on a paid-up one.
Is Jan Suraksha the same as Micro Bachat?
No. Both are LIC micro insurance endowments for ₹1 lakh to ₹2 lakh, but Micro Bachat is participating, charges premiums for the full term and pays only a Loyalty Addition LIC may declare. Jan Suraksha is non-participating, stops premiums five years early and pays guaranteed additions written into the contract.
Spot something wrong?
If a figure on this page disagrees with an LIC premium notice, bonus statement or benefit illustration, tell us and we will check it against the brochure. Anything else you think this page gets wrong is just as welcome.
Related calculators
Plans people usually weigh up against Jan Suraksha before deciding.
Bima Jyoti
No. 760Non-participating endowment with a guaranteed addition of ₹50 per ₹1000 every year.
Open calculatorJeevan Azad
No. 768Short premium term, guaranteed maturity equal to the sum assured.
Open calculatorNew Endowment Plan
No. 714LIC's plainest savings-and-cover contract: the sum assured plus bonus at maturity, and nothing paid out before it.
Open calculatorSaral Jeevan Bima
No. 859The standard term plan every insurer must offer, with identical terms across the market.
Open calculator