LIC’s Nav Jeevan Shree Plan 912 is an endowment life insurance policy offering guaranteed additions, limited premium payment options, and specific tax considerations under prevailing laws.
LIC’s Nav Jeevan Shree Plan 912 is a non-linked, non-participating endowment insurance plan that offers guaranteed additions on the annual premium. The percentage of guaranteed additions depends on the policy term selected by the policyholder.
Key features include:
Under an in-force policy, guaranteed additions accrue at the end of each policy year throughout the term. The rate is based on the policy term and is expressed as a percentage of the total tabular annual premium (i.e., before any rebates or loadings).
Policy Term (in years) | Guaranteed Additions (% of Annual Premium) |
10 to 13 years | 8.50% |
14 to 17 years | 9.00% |
18 to 20 years | 9.50% |
These guaranteed additions are payable along with the sum assured at maturity or in the event of the policyholder's death during the policy term.
The plan allows policyholders to select shorter premium payment terms than the overall policy duration. This structure may be suitable for individuals who prefer to complete their premium obligations early while maintaining coverage for the full policy term.
As per the Income Tax Act, benefits received under life insurance policies may qualify for exemption under Section 10(10D), subject to conditions.
However, as per the Finance Act, 2023, if the aggregate annual premium for life insurance policies (other than ULIPs) purchased after April 1, 2023 exceeds ₹5 lakh, the maturity proceeds of those policies will be taxable as per the policyholder’s income slab. This rule does not affect the tax exemption on death benefits, which continue to remain fully exempt under the law.
Read More: LIC Introduces 2 New Savings Plans and a Critical Illness Rider, Effective July 4.
LIC’s Nav Jeevan Shree Plan 912 is structured to offer guaranteed additions over the policy term with flexibility in premium payment durations. The plan provides life coverage along with maturity benefits and may be evaluated in light of current income tax rules. Individuals should assess their financial goals, investment time horizon, and risk profile before considering this policy.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Published on: Jul 7, 2025, 6:00 PM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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