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LIC Jeevan Kiran

Introduction to LIC Jeevan Kiran

LIC Jeevan Kiran is a term insurance plan offered by Life Insurance Corporation of India (LIC), the country’s oldest life Insurance company founded in ​​1956. A term insurance plan is one of the most cost-effective ways to ensure your family will have a secure financial future. Your family will be paid a sum of money as a death benefit, in case your death happens during the policy term. This money can help them meet their monetary needs, while not compromising on their current lifestyle - as well as pay off any outstanding loans or liabilities. 

beshak ratings
Verdict: LIC Jeevan Kiran

This product provides several options for tailoring how your family receives the claim amount. However, it doesn't allow you to choose important customizations like limited pay, increasing cover, and a comprehensive critical illness rider. It is also more expensive than other plans in the market. Lastly, according to our research, the insurer has received fewer complaints related to claim settlement and policy purchase, indicating a good track record in both the purchase process and claims service experience. 

Pros & Cons: LIC Jeevan Kiran

  • arrow Several options to customize claim payout
  • arrow Received fewer complaints on claim settlement compared to other insurers
  • arrow Received fewer complaints during policy purchase compared to other insurers
  • arrow Expensive than other products in the market
  • arrow No Limited Pay options available, to speed up payments
  • arrow Doesn't offer the option to automatically increase your claim amount, with time
  • arrow No option to exit the plan while it is still active and receive a refund of premiums
  • arrow Critical illness rider is not available

About Life Insurance Corporation of India

Life Insurance Corporation of India logo

LIC also known as Life Insurance Corporation of India is an Indian Life Insurance Company. Founded in 1956, it is owned by the Government of India. The company is headquartered in Mumbai its chairman is Mr. Siddhartha Mohanty.

Founded in
JV Partners
Turnover (GWP)
1,16,128.09 Crores
Number of Policies
Number of Claims

Detailed Product Specs & Rating: LIC Jeevan Kiran

Claims Experience 4.2/5 star green
Customer Service 4.49/5 star green
Product Benefits 1.4/5 star green
% of claims settled in less than 30 days
Reflects on the speed of settling valid claims
% of Complaints received on overall claims
% customers unhappy with claims experience
How complex is the Claim Form?
The longer, the more hassles during claims
Claim Settlement Ratio (No. of claims)
What % of the claims received were paid?
Claim Settlement Ratio (Value of claims)
What % of the claim amount received was paid?
Solvency Ratio
Reflects an insurance company’s ability to pay claims. Insurers are required to maintain a minimum 150% Solvency Ratio as per IRDAI regulation
Personal relationship manager for claims
Not Available
Can you track claims online?
Dedicated toll-free for claims service
Not Available
Separate Claim Form for above 3 Years Claim
Home pickup of Claims
Not Available

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