LIC 2 Lakh Policy Calculator 2026: Premiums & Payouts

Compare premium costs, maturity returns, and life cover configurations for a ₹2 Lakh Sum Assured policy.

₹2 Lakh Policy Comparison (30 Yr Proposer, Healthy)

LIC Policy Plan	Plan Type	Policy/Pay Term	Approx. Annual Premium	Est. Maturity Payout	XIRR
Tech Term (854)	Pure Protection (Term)	30 Yrs / 30 Yrs	₹240	❌ None (Death Only)	-
Jeevan Labh (736)	Limited Pay Endowment	25 Yrs / 16 Yrs	₹11,560	₹5.60 Lakh	4.77%
Jeevan Anand (715)	Endowment + Whole Life	20 Yrs / 20 Yrs	₹10,220	₹4.16 Lakh	6.36%

✅ 100% Tax-Free Return Status

Because the annual premium of Jeevan Labh (₹11,560) and Jeevan Anand (₹10,220) remains below the ₹5 Lakh statutory threshold, all maturity returns and death payouts from this policy will be completely tax-free under Section 10(10D) of the Income Tax Act.

How to Plan for a ₹2 Lakh Life Cover

A Sum Assured of ₹2 Lakh is an affordable and entry-level safety net, ideal for young professionals or first-time buyers. Because the amount is under ₹5 Lakhs, it falls under LIC's non-medical scheme for most age groups, meaning no physical check-ups are required. Annual premiums are highly economical, costing just ₹240 for a Tech Term policy or ₹11,560 for Jeevan Labh, with all maturity proceeds being 100% tax-free under Section 10(10D).

Depending on your primary goal, you can select from the following configurations:

LIC Tech Term (Plan 854) — Pure Cover: Get a ₹2 Lakh death cover for a tiny annual premium of ₹240. There is no maturity benefit, but it provides the highest coverage ratio.
LIC Jeevan Labh (Plan 736) — High Yield Savings: Save ₹11,560 annually for 16 years, and receive a maturity payout of ₹5.60 Lakh after 25 years. Returns are fully tax-free.
LIC Jeevan Anand (Plan 715) — Endowment + Lifetime Protection: Save ₹10,220 annually for 20 years, receive a maturity payout of ₹4.16 Lakh, and enjoy a continued life cover of ₹2 Lakh for the rest of your life.

हिं

एलआईसी ₹2 लाख पॉलिसी — Hindi Guide

यदि आप ₹2 लाख का बीमा कवर (Sum Assured) लेना चाहते हैं, तो आपके पास 2 मुख्य रास्ते हैं: 1. टेक टर्म प्लान (Tech Term Plan 854): यह एक शुद्ध टर्म इंश्योरेंस है। इसका वार्षिक प्रीमियम केवल ₹240 के आसपास होगा। 2. जीवन लाभ (Plan 736): यह बचत और सुरक्षा का मिश्रण है। इसमें भुगतान अवधि केवल 16 वर्ष होती है और मैच्युरिटी पर करीब ₹5.60 Lakh मिलते हैं।

•न्यूनतम बीमा राशि: ₹2,00,000
•नॉमिनी के लिए कर-मुक्त भुगतान: धारा 10(10D) के तहत मृत्यु दावा राशि कर-मुक्त

Frequently Asked Questions

The premium varies heavily based on the type of plan and entry age. For a 30-year-old: A pure Term Plan (Tech Term) costs approximately ₹240 per year. An Endowment plan (Jeevan Anand) costs approximately ₹10,220 per year. A limited-premium plan (Jeevan Labh) costs approximately ₹11,560 per year.

For a ₹2 Lakh Sum Assured under Jeevan Labh (Plan 736) with a 25-year term (pay for 16 years), the estimated maturity payout is approximately ₹5.60 Lakh. This payout is completely tax-free under Section 10(10D) as the annual premium of ₹11,560 is below the ₹5 Lakh statutory threshold.