LIC’s NAV Jeevan Shree Plan is a thoughtfully crafted life insurance plan offering guaranteed additions, dual death benefit options, and tax savings — all under a limited premium payment structure. Whether you’re planning your financial future or protecting your loved ones, this plan delivers powerful benefits that grow over time.
🔍 What Makes This Plan Special?
✅ Dual Benefit: Protection + Savings
It’s an endowment assurance plan that provides life cover during the term of the policy and a lump sum payout at maturity. So, you’re covered while also saving for your future.
✅ Guaranteed Additions Every Year
Get a guaranteed percentage of your premium added to your policy every year — providing assured growth of your wealth.
✅ Flexible Death Benefit Options
Choose from:
- Option I: Higher of 7 times the Annual Premium (adjusted) or Basic Sum Assured
- Option II: Higher of 10 times the Annual Premium or Basic Sum Assured
This allows you to tailor your life cover as per your needs.
✅ Maturity Benefit
At the end of the term, you’ll receive the Basic Sum Assured + Accumulated Guaranteed Additions — a tax-free amount.
✅ Multiple Payout Options
Receive your maturity or death benefits in one lump sum, or opt for easy installments over 5, 10, or 15 years.
✅ Liquidity Through Loan & Surrender
Need cash in an emergency? After just 1 year of premiums, the policy acquires surrender and loan value. You can borrow against it or surrender it if necessary.
✅ Enhanced Coverage via Riders
Boost your protection with optional riders like:
- Accidental Benefit Rider (AB)
- Term Rider
Pay a small extra premium for extra peace of mind.
✅ Tax Benefits
- Get deductions under Section 80C for premiums paid
- Enjoy tax-free returns under Section 10(10D) on maturity
| Particular | Details |
|---|---|
| Plan Name | LIC NAV Jeevan Shree |
| Sum Assured | ₹10,00,000 |
| Policy Term / PPT | 20 years / 12 years |
| Annual Premium (1st Year) | ₹1,02,252 (Incl. GST) |
| Annual Premium (2nd Year onwards) | ₹1,00,051 (Incl. GST @2.25%) |
| Total Premium Paid Over 12 Years | ₹8,39,993 |
| Total Returns from LIC | ₹26,27,869 (Tax-Free) |
| Tax Savings Every Year | ₹30,235 under Sec. 80C |
| Effective Daily Cost | ₹280 only |
| Total Life Cover by Maturity (incl. bonus) | ₹26.27 Lakhs |
| Additional Accidental Death Benefit | ₹10 Lakhs |
📈 How Your Risk Cover Grows
In this plan, your risk cover increases every year thanks to the guaranteed additions.
At the end of the 20-year term (age 56), your risk cover grows from ₹10,09,356 to a whopping ₹26,27,869.
You also have the flexibility to take a loan against your policy at 9.5% p.a. or surrender it after 1 year.
🎯 Who Should Choose This Plan?
✔ Salaried individuals planning long-term financial security
✔ Parents saving for children’s future
✔ Professionals looking for tax-saving investment options
✔ Anyone aged 0 to 60 years, looking for a combination of insurance and assured returns
