LIC's Navjeevan(UIN: 512N33V01)

LIC's Navjeevan plan is a Non-Linked" With Profit " Endowment Assurance plan.

Under this plan the premium can be paid either as Lumpsum (Single premium) or as Limited Premium with a premium payment term of 5 years. This plan will also be available through online application process.

  • Available through Online mode (www.licindia.in)
  • Endowment plan with single and 5 years Limited payment option
  • Available for age 90 days completed to 65 years
  • Under Limited Premium payment, if the life proposed is aged 45 years and above shall have two options to choose the Absolute Amount Assured to be paid on Death which is as under:

    Option 1: 10 times of the Annualized Premium.

    Option 2: 7 times of the Annualized Premium.

  • If the life proposed is aged below 45 years only Option 1 is available.
Death Benefit Is payable in case of death of the Life Assured before the stipulated Date of Maturity provided the policy is inforce.

->On death during first five policy years:

Before the date of commencement of risk: Refund of premium(s) paid without interest shall be payable.

On or after the date of commencement of risk: Sum Assured on Death shall be payable.

->On death after completion of five policy years but before the stipulated Date of Maturity:

Sum Assured on Death along with Loyalty Addition, if any, shall be payable.

Maturity Benefit On the life assured surviving to the end of the policy term, provided all the due premiums have been paid, Sum Assured on Maturity along with Loyalty Addition, if any, shall be payable.
Participation in profit Provided the policy has completed five policy years and all the premium due under the policy is paid, then depending upon the Corporation's experience the policies under this plan shall be eligible for Loyalty Addition at the time of exit in the form of Death during the policy term or Maturity, at such rate and on such terms as may be declared by the Corporation.
Optional rider benefits LIC's Accidental Death and Disability Benefit Rider UIN (512B209V02).

In case of accidental death, the Accident Benefit Rider Sum Assured will be payable as lumpsum along with the death benefit under the Base plan.

Maximum Accident Benefit Sum Assured: An amount equal to the Sum Assured on Death under the Base Plan subject to the maximum of Rs.100 lakhs overall limit taking all existing policies.

Minimum Sum Assured Rs. 1,00,000
Maximum Sum Assured No limit
Minimum age at entry

Single Premium : 90 days (completed)

Limited Premium : 90 days (completed) under Option 1

Limited Premium : 45 years (nearer birthday) under Option 2

Maximum age at entry

Single Premium : 44 years (nearer birthday)

Limited Premium : 60 years (nearer birthday) under Option 1

Limited Premium : 65 years (nearer birthday) under Option 2

Maximum Maturity age

Single Premium : 62 years (nearer birthday)

Limited Premium : 75 years (nearer birthday) under Option 1

Limited Premium : 80 years (nearer birthday) under Option 2

Policy term 10 to 18 years
Mode of payment Single Premium (Lump sum), Yearly, Half yearly, Quarterly, Monthly (through NACH only)