Shri Sat Pal Bhanoo, CEO & MD (In-Charge), Life Insurance Corporation of India launched new plans, LIC’s Nav Jeevan Shree (UIN: 512N387V01) and LIC’s Nav Jeevan Shree Single Premium (UIN: 512N390V01) on 04.07.2025.
The two new Plans launched are combinations of savings and protection and are specially designed to generate an adequate corpus to meet various needs of our life cycle.
The purpose of LIC’s Nav Jeevan Shree (Plan 912) is to cater to the all the needs of individuals specifically of younger generation who wish to fulfill their dreams, goals, responsibilities and also provide security.
LIC’s Nav Jeevan Shree (Plan 911) – A Single Premium policy is meant for building corpus along with providing life insurance.
In the current environment when interest rates are very volatile, these two Plans provide Guaranteed Additions throughout the policy term.
LIC’s Nav Jeevan Shree – (Plan 912)
This is a Limited Premium endowment plan which provides Guaranteed Additions as a % of Tabular Premium. Premiums can be paid in terms of 6, 8, 10 & 12 years.
Minimum Age at Entry is 30 days (completed). Maximum Age at Entry is 60 years (nearer birthday) for PPT 6,8 and 10 years, 59 years (nearer birthday) for PPT 12 years
Minimum Policy Term is 10 to 16 years as per PPT opted
Maximum Policy Term is 20 years
Premium Payment Term is 6,8,10 & 12 years
Minimum Basic Sum Assured Rs. 5,00,000
Maximum Basic Sum Assured – No Limit (subject to underwriting decision)
Guaranteed Additions for an in-force policy during the policy term shall accrue at the end of each policy year. The Rate of Guaranteed Additions ranging from 8.50% to
9.50% as a % of Total Tabular annual Premium in respect of premiums paid according to the Policy terms from 10 to 20 years.
LIC’s Nav Jeevan Shree Single Premium (Plan 911)
This Plan is a Single Premium Endowment plan with Guaranteed Additions.
Guaranteed Additions shall accrue at the rate of Rs. 85 per thousand Basic Sum Assured at the end of each policy year from the inception till the end of Policy Term.
Minimum Age at Entry is 30 days (completed). Maximum Age at Entry is 60 years (nearer birthday) under Option-I, 40 years (nearer birthday) under option II
Minimum Age at maturity is 18 years (completed) and Maximum Age at maturity is 75 years (nearer birthday) under option I, 60 years (nearer birthday) under Option II
Minimum Policy Term is 5 years
Maximum Policy Term is 20 years
Minimum Basic Sum Assured Rs. 1,00,000
Maximum Basic Sum Assured – No Limit (subject to underwriting decision)
While Nav Jeevan Shree facilitates regular premium to built corpus, Nav Jeevan Shree – Single Premium facilitates lump sum payment to provide for life insurance and attractive option to generate targeted corpus for individual needs.
For details, Please refer to the Sales Brochure on LIC India’s official website http://www.licindia.in.
