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LIC

LIC's Nav Jeevan Shree

Limited Premium Endowment Plan Limited Premium Popular Plan

Limited Premium Endowment Plan with Guaranteed Additions

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The essentials

Your plan at a glance

Min. sum assured
100000
Policy term
5 Years to 20 Years
Entry age
30 completed days
Premium payment
Online , Offline

Plan Overview

LIC's Nav Jeevan Shree is designed for individuals looking for a combination of savings and protection with a guaranteed benefit structure.

Life Protection
Guaranteed Savings
Guaranteed Additions
Flexible Premium Paying Terms
Flexible Policy Terms
Settlement in Instalments
Optional Riders
Higher Sum Assured Incentive
Existing Policyholder/Nominee Incentive
Loan Facility
Online & Offline Purchase

Features & Benefits

Protection + Savings
The plan combines life insurance protection with long-term guaranteed savings.
Guaranteed Additions
Guaranteed Additions are added at the end of each policy year as a percentage of the Total Tabular Annual Premium corresponding to premiums paid during the policy term
Choice of Death Benefit
The policyholder can choose between two Sum Assured on Death options at the time of policy inception.
Flexible Premium Paying Terms
Choose from: 6 years 8 years 10 years 12 years 15 years
Flexible Policy Terms
The available Policy Term depends on the selected PPT: PPT 6 years: Policy Term 10–20 years PPT 8 years: Policy Term 15–20 years PPT 10 years: Policy Term 15–20 years PPT 12 years: Policy Term 16–20 years PPT 15 years: Policy Term 18–20 years
Settlement Option
Maturity and Death Benefits can be received in instalments instead of a single lump sum.
Optional Riders
Additional protection can be added by choosing eligible riders and paying additional rider premiums.
Higher Sum Assured Incentive
Customers opting for higher Sum Assured can receive applicable incentives.
Existing LIC Customer Incentive
Existing policyholders and eligible nominees/beneficiaries of deceased LIC policyholders can receive an incentive through an increased Guaranteed Addition rate.
Loan Facility
The policy provides liquidity through a loan facility, subject to surrender value and policy conditions.

Coverage Details

Parameter Details
Maximum Entry Age 65 years minus Policy Term
Maximum Maturity Age 65 years
Maximum Sum Assured on Death per life ₹25 lakh

Exclusions

Suicide Clause: If the Life Assured commits suicide within 12 months from commencement of risk, the nominee/beneficiary is entitled to 80% of total premiums paid up to the date of death, subject to the policy conditions and exclusions specified in the brochure.
Waiting Period for POSP-LI/CPSC-SPV: If death occurs within the first 90 days from commencement of risk, total premiums paid are refunded if the policy is in force and death is not due to accident. If death during this 90-day period is due to an accident, the applicable Death Benefit is payable. This waiting-period provision does not apply when entry age is below 8 years.
Forfeiture / Misrepresentation: If the proposal or related documents contain an untrue or incorrect statement, or material information has been withheld, the policy may become void and claims will be dealt with under Section 45 of the Insurance Act, 1938, as amended.

Eligibility Criteria

Minimum Entry Age: 30 completed days
Maximum Entry Age: 60 years for PPT 6, 8 and 10 years, 59 years for PPT 12 years, 57 years for PPT 15 years
Maximum Entry Age 65 years minus Policy Term

Required Documents

Identity Proof
Aadhaar Card Voter Card
Address Proof
Voter ID Utility Bill
Financial Documents
Income Proof (if applicable)
Other Documents
Recent Passport-size Photograph, Income Proof (if required), Medical Reports (if applicable), Bank Account Details, Nominee Details

Frequently Asked Questions

It is a Non-Participating, Non-Linked, Individual Life Insurance Savings Plan with Guaranteed Additions.

No. It is Non-Participating and does not provide discretionary bonuses or a share in surplus.

6, 8, 10, 12 and 15 years.

Yes. The available Policy Term depends on the selected PPT.

Yes. Two Sum Assured on Death options are available at policy inception.

Yes. Guaranteed Additions are provided as a percentage of Total Tabular Annual Premium for premiums paid during the policy term.

Yes, subject to the policy acquiring Surrender Value and the applicable loan conditions.

Yes, subject to the applicable Surrender Value conditions.

Yes, generally within 5 consecutive complete years from the First Unpaid Premium and before maturity, subject to LIC approval.

Yes. The plan provides a Settlement Option for receiving Maturity and Death Benefits in instalments.

Yes, eligible riders can be opted for by paying additional premiums. However, riders are not available for POSP-LI/CPSC-SPV policies.

₹25 lakh per life, subject to applicable rules and underwriting limits.

Yes. The policy contains specific suicide exclusion provisions.

The policy may be void and claims may be governed by Section 45 of the Insurance Act, 1938, as amended.

Tax treatment depends on prevailing tax laws and individual circumstances.
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