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
Thank you for this detailed post on the LIC Nav Jeevan Shree policy. I’ve been searching for a reliable savings-cum-protection plan, and your blog clarified almost everything I needed to know. The explanation of the premium payment options, policy term, and sum assured was very clear. I appreciate that you also mentioned the tax benefits under Section 80C and 10(10D) — that’s valuable for salaried individuals. The guaranteed returns with bonus make this plan a safe investment for those who prefer stability over market-linked risks. Great job simplifying this complex plan for common readers!
This article about the LIC Nav Jeevan Shree plan is extremely informative and well-structured. I really liked how you explained the plan’s features, benefits, and eligibility in simple terms. The combination of life insurance protection and long-term savings makes it one of LIC’s most balanced offerings. The part where you explained the bonus additions and how they impact the maturity value was especially helpful. I’m considering investing in this policy for long-term financial stability. Could you also write about how this plan compares with LIC Jeevan Umang and which one is better for retirement planning?
Excellent breakdown of the LIC Nav Jeevan Shree plan! What I liked most was your comparison of the maturity and death benefits. It helped me understand how the policy not only protects the family financially but also builds wealth over time. The bonus structure and guaranteed additions you mentioned make this plan a good choice for long-term investors. Many people get confused between LIC traditional and ULIP plans, and your explanation brings much-needed clarity. I would love to see a post that includes a sample benefit illustration showing returns at different ages and terms.
Very well-written and comprehensive post about LIC Nav Jeevan Shree. I appreciate that you’ve presented not just the plan features but also practical advice on who should invest in this policy. The non-linked, with-profits nature of the plan gives it stability, which many conservative investors look for. Your section on benefit illustration clearly explains how the maturity and death benefits are calculated. The mention of tax exemptions and bonus additions adds great value. Overall, this blog gives a clear picture for anyone planning to buy LIC Nav Jeevan Shree for secure, long-term financial growth.
This is one of the most detailed articles I’ve read on the LIC Nav Jeevan Shree plan. You’ve nicely explained every aspect — from eligibility criteria to policy term options and premium calculation. I especially liked how you highlighted the dual benefit of protection and guaranteed returns, which is ideal for someone planning for child education or retirement. The insights on bonus accumulation and maturity value were very helpful. Could you please add an example with a sample investment of ₹5 lakh to show the expected maturity amount and yearly bonus growth? That would make the article perfect.