LIC Navjeevan Plan

LIC’s Navjeevan Plan is a simple endowment plan in which you pay premiums for a limited period and you will receive a lumpsum amount at the end of the policy term. This is a traditional endowment insurance policy.

Launch Date18th March, 2019
Plan DetailsTable No. 853
Policy TypeEndowment
no-claim-bonus-overview icon
Online Payment
out-patient-consultations-overview icon
Loyalty Benefits
in-patient-hospitalisation-overview icon
Age Flexibility
Compare this plan with other Investment Plans
By clicking “Show Returns”, I authorize MyInsuranceClub to Call/Message & agree to Terms of Use

Key Features

Online Payment

This plan can be purchased online on LIC website

Loyalty Benefits

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

Sum Assurance

Minimum Sum Assured of 1 lakh

Age Flexibility

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


Death Benefit

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.

Maturity Benefit

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

Tax Benefits

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.

Free look Period

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.

How it works


This plan has a policy term between 10 to 18 years - you can select any policy term between that. However, you need to pay premiums either as a single premium or for 5 years only. So it is a limited premium endowment plan. You can select a sum assured of 1 lakh or higher, which will be the life insurance cover provided in the plan. At the end of the policy term, you will get the Sum Assured + Loyalty Additions. The loyalty additions will be payable for paying your premiums regularly throughout the premium payment term on time. The amount of loyalty additions will determine the total returns you will get on the policy. However, there is no way to know in advance how much of loyalty additions will be paid at the end of the policy term.


The plan has 2 options:
  • Option 1 - Sum Assured on Death is 10 times the Annualised Premium
  • Option 2 - Sum Assured on Death is 7 times the Annualised Premium
At the time of taking the policy, if you are below the age of 45 years, only Option 1 can be taken. However, if you are 45 years or older, you can opt for Option 1 or Option 2.
Important Note: If you go for Option 2, you will have to pay lower premiums, but the tax benefits may get impacted. Would strongly recommend keeping this factor in mind while making the decision.
  Minimum Maximum
Sum Assured Rs. 1,00,000 No limit
Policy Term 10 years 18 years
Premium Payment Term Single or 5 years
Minimum Age of 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
Premium Payment Modes Single, Yearly, Half-yearly, Quarterly & Monthly