LIC Jeevan Nidhi
LIC Jeevan Nidhi Plan
This plan has been withdrawan. Refer to the New Annuity Plan launched by LIC – LIC New Jeevan Nidhi.
LIC Jeevan Nidhi is with bonus deferred annuity plan. This is a non unit-linked insurance pension plan. This plan is purchased to cover the risk of living too long and hence has multiple pension options to cover that risk. The corpus that is created to provide pension for old age is the Sum Assured + accrued Guaranteed Additions + simple Reversionary Bonus + Terminal Bonus. The age where pension is payable is called Vesting Age and the date when pension starts is called Vesting Date.
Thus, if the Life Insured survives the entire term, then he would get the option to withdraw 1/3rd of the entire corpus that has been accumulated tax free and start receiving pension from the remaining 2/3rd of it. He would also get multiple pension options to choose from.
However, if the Life Insured dies within the policy tenure, i.e. before the pension starts then his nominee would receive the Sum Assured + accrued Guaranteed Additions + simple Reversionary Bonus + Terminal Bonus, if any.
Compare this plan with other Investment Plans
LIC Jeevan Nidhi - Key Features
The corpus for pension is (Sum Assured + accrued Guaranteed Additions + simple Reversionary Bonus + Terminal Bonus)
Death Benefit before Vesting Date is also (Sum Assured + accrued Guaranteed Additions + simple Reversionary Bonus + Terminal Bonus).
There are 5 options for Pension:
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Optional higher cover through Term Rider, Accidental Death and Disability Benefit rider and Critical Illness Rider and Premium Waiver Rider for Cri
There are 4 additional riders available:
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LIC Jeevan Nidhi - Benefits
In case of death of the Life Insured before the vesting date, the nominee receives the following: Sum Assured plus + Accrued Guaran
At the maturity of the policy, the insured will get some choices
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Premiums paid under life insurance policy are exempted from tax under Section 80 C and 1/3rd of the maturity proceeds are exempted from tax under S
Check the Bonus rates of
Eligibility conditions and other restrictions in LIC Jeevan Nidhi Plan
| Minimum | Maximum | |
| Sum Assured (in Rs.) | 50,000 | No Limit |
| Policy Term (in years) |
5 for Regular Premium 6 for Single Premium |
35 |
| Premium Payment Term (in years) | ||
| Entry Age of Policyholder (in years) | 18 | 65 |
| Age at Vesting (in years) | 40 | 75 |
| Premium (in Rs.) |
10,000 for Single 3000 for Regular |
No Limit |
| Payment modes | Single, Yearly, Half-yearly, Quarterly, Monthly and SSS | |
LIC Jeevan Nidhi - FAQs
If you stop paying the premiums after 3 policy years, the policy lapses and all benefits cease.
There is a Guaranteed Surrender Value after 3 policy years
30% of all premiums paid (90% for Single Premium) – 1st year’s premium
There is Special Surrender Value under this plan as well.
Loan facility is not available under this policy
