LIC Navjeevan Plan

This plan can be purchased online on LIC website

Offers Loyalty Additions which are added at the end of the policy term

Minimum Sum Assured of 1 lakh

Can be purchased for anyone from the age of 90 days to 65 years of age

Very important to check the Risk commencement date in the plan because the death benefits is linked to it.

If death occurs during the first 5 policy years, the benefits are as follows:

• If the Life Insured dies before the Risk commencement date, the premiums paid are returned without any interest.
• If the Life Insured dies after the Risk commencement date, the sum assured on death is paid.

If death occurs after the first 5 policy years, the sum assured on death + loyalty additions are paid to the nominee.

When the policy matures, the Sum Assured on Maturity + Loyalty Additions will be paid to the policyholder.

This plan will have benefits under Section 80C and Section 10 (10D). However, please check for details when availing Option 2 in this plan as these benefits may not be available

You can LIC's Accidental Death and Disability Benefit Rider along with this plan. You will have to pay extra premiums for this benefit.

If the policyholder is not convinced with the terms and conditions of the policy, s/he can cancel the policy within 15 days from the receipt of the policy document.