Plan 103 Actuarion Engine 2026

LIC Jeevan Chhaya Child Education Premium Calculator

Model LIC's classic child education protection plan. Calculates education payouts paid in four equal annual installments during the final years of the term.

Targeted Education Funding: 25% of Sum Assured paid annually in last 4 years

Inbuilt Premium Waiver: Premiums waived on parent's death

Full Death Benefit paid immediately upon parent's death

Participating bonuses paid on maturity

Tax deductions u/s 80C and tax-free payouts u/s 10(10D)

LIC Jeevan Chhaya Inputs

LIC Jeevan Chhaya (Plan 103) specialized calculator. Adjust your sliders to recalculate active returns.

1. Basic Sum Assured (₹)₹3,00,000

2. Age of Proposer/Insured (Years)30 Years Old

3. Policy Coverage Term (Years)20 Years

Premium Payment Frequency

Plan 103

Estimated Maturity Returns

₹5,67,000

Estimated returns payout at policy maturity

Actuarial Projections

Sovereign-backed security of sum assured and returns u/s 10(10D).
Eligible for annual premium tax exemptions under Section 80C.
Loan and policy surrender values accumulate continuously.

$First Year Premium:₹690

Renewal Premium (Year 2+):₹675

Total Estimated Premiums Paid:₹13,515

Basic Sum Assured:₹3,00,000

Accumulated Endowment Bonuses:₹2,52,000

Estimated Net Maturity Benefit:₹5,67,000

Returns Performance41.95x Return

Guide to LIC Jeevan Chhaya Plan (Plan 103)

LIC's Jeevan Chhaya (Plan 103) is a unique child protection endowment plan. The parent is the policyholder, and the child is the beneficiary. It ensures that the child receives 25% of the Sum Assured annually during each of the last four years of the policy term for higher education, irrespective of the parent's survival. If the parent passes away during the term, the policy becomes fully paid-up, future premiums are waived, and the death benefit is paid to the family immediately.

Plan Eligibility & Key Actuarial Limits

Policy parameter	Details and limits
Minimum Entry Age (Proposer)	18 Years (Parent)
Maximum Entry Age (Proposer)	50 Years
Policy Term Range	18 to 25 Years
Minimum Sum Assured	₹50,000
Maximum Sum Assured	No Limit
Education Payouts	25% of Sum Assured annually in the last 4 policy years

Tax Benefits & Payout Options

Premiums qualify for Section 80C tax benefits. The annual money-back installments and the final maturity bonuses are exempt under Section 10(10D).

Frequently Asked Questions (FAQs)

What happens if the parent dies during the term of Jeevan Chhaya?

Upon the parent's death, the Basic Sum Assured is paid immediately to the child/nominee. All future premiums are waived, and the policy remains active. The scheduled 25% annual education payouts are still paid in the last 4 years, and the accumulated bonuses are paid at maturity.

What is paid at the maturity of the policy?

At maturity (end of the term), the final accumulated reversionary bonuses and final additional bonuses are paid to the beneficiary.

Can a grandparent take this policy for a grandchild?

Typically, only parents or legal guardians can propose this policy.

Trusted by 10,000+ Indians

Don't Just Take Our Word For It

See how our actuarial precision is helping thousands make smarter, faster insurance decisions every single day.

Rajesh Kumar

Mumbai, Maharashtra

Term Insurance

2 weeks ago

"Excellent calculator! It helped me understand the premium structure before meeting with an LIC agent. The estimates were quite close to the actual premium I was quoted. Very user-friendly interface."

Priya Sharma

Delhi, NCR

Endowment Plan

1 month ago

"I used this calculator to compare different policy types. The breakdown helped me choose the right endowment plan for my family. Saved me a lot of time and confusion. Highly recommended!"

Amit Patel

Ahmedabad, Gujarat

Whole Life Plan

3 weeks ago

"Good tool for getting a quick estimate. The calculator is easy to use and provides clear results. However, I noticed the actual premium was slightly higher due to my medical history, which is expected."

Sneha Reddy

Bangalore, Karnataka

Endowment Plan

1 week ago

"This calculator made my insurance planning so much easier! I could test different scenarios and find the best policy that fits my budget. The maturity amount calculation was particularly helpful."

Vikram Singh

Pune, Maharashtra

Term Insurance

2 months ago

"As a first-time insurance buyer, this tool was invaluable. It helped me understand how premiums work and what to expect. The FAQs section also answered many of my questions. Great resource!"

Anjali Mehta

Chennai, Tamil Nadu

ULIP

3 weeks ago

"Very helpful calculator! I appreciated being able to compare different policy types side by side. The interface is clean and professional. Would love to see more policy options added in the future."

Rohit Verma

Kolkata, West Bengal

Endowment Plan

1 month ago

"Used this calculator before purchasing my LIC policy. The premium estimate was accurate, and it helped me plan my finances better. The design is modern and the tool is very intuitive to use."

Kavita Nair

Hyderabad, Telangana

Whole Life Plan

2 weeks ago

"Excellent tool! I calculated premiums for multiple scenarios and found the perfect policy for my needs. The maturity amount projection helped me plan for my retirement. Thank you for this resource!"

4.8/5

Average Rating

10K+

Premium Calculations

95%

User Satisfaction

Explore More LIC Calculators

Find the perfect calculator for your insurance and investment needs

Kanyadan Policy