LIC LIC's Jeevan Azad (Plan No. 868): Full Guide, Eligibility & Premium

LIC's Jeevan Azad belongs to LIC's endowment plans family. In one line: pay for eight years less than the term

Eligibility at a glance — entry age 90 days to 50 years; sum assured ₹2,00,000 to ₹5,00,000; policy term 15 to 20 years. Anything outside those bands will simply not be issued, so check them before you plan the premium.

What the plan actually gives you: Fixed maturity amount equal to the sum assured Premium paying term is policy term minus eight years Death benefit of 7x annualised premium or 105% of premiums paid, whichever is higher Simple structure with no bonus uncertainty Those are the contractual features; bonus or market-linked components, where they apply, are declared by LIC each year and are not guaranteed in advance.

Who it suits: People who want a fixed, predictable maturity amount with a short paying window. If that does not describe your situation, there is usually a better-fitting plan in the same family, and it costs nothing to ask.

Before you sign, run LIC's Jeevan Azad through the premium calculator on this site with your own age, sum assured and term. Seeing the yearly outgo next to the projected maturity value is the fastest way to know whether the plan fits your cash flow — and the fastest way to spot a mis-sold recommendation.

Buying, servicing and claiming are three different jobs. We help with all three free of charge, including for policies you bought elsewhere, from our office at Fort, Mumbai and online across India.