CALCULATE YOUR SIP RETURNS

LIC Nav Jeevan Shree Plan Launched: Short-Term Payment, Long-Term Cover

Written by: Neha DubeyUpdated on: 7 Jul 2025, 11:33 pm IST
LIC’s Nav Jeevan Shree 912 enables short-term premium payments with long-term life cover and guaranteed additions, fitting diverse financial goals.
LIC Nav Jeevan Shree Plan Launched: Short-Term Payment, Long-Term Cover
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

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.

Overview of LIC Nav Jeevan Shree Plan 912

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:

  • Policy Term: 10 to 20 years
  • Premium Payment Terms: 6, 8, 10, or 12 years (based on policy term)
  • Minimum Entry Age: 30 days
  • Maximum Entry Age: 60 years
  • Minimum Sum Assured: ₹5 lakh

Guaranteed Additions

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 years8.50%
14 to 17 years9.00%
18 to 20 years9.50%

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.

LIC’s Nav Jeevan Shree Plan Offers Premium Payment Flexibility

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.

Tax Considerations

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.

Conclusion

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.

Know More

We're Live on WhatsApp! Join our channel for market insights & updates

Open Free Demat Account!

Join our 3 Cr+ happy customers

+91
Enjoy Zero Brokerage on Equity Delivery
4.4 Cr+DOWNLOADS
Enjoy ₹0 Account Opening Charges

Get the link to download the App

Get it on Google PlayDownload on the App Store
Open Free Demat Account!
Join our 3 Cr+ happy customers