The Life Insurance Corporation of India (LIC) has launched two innovative joint life insurance savings plans: the New Jeevan Sathi Single Premium and the New Jeevan Sathi Limited Premium.
These plans are tailored for couples who seek financial protection as well as long-term savings under a single policy.
LIC's New Jeevan Sathi Limited Premium is a non-participating, non-linked, life savings plan designed as a joint life limited premium endowment plan with guaranteed additions.
It offers both savings and protection without discretionary benefits like bonuses. The benefits on the death or survival of the policyholder are guaranteed and fixed.
This joint life plan covers a married individual with their spouse in a single policy. It includes a premium waiver on the first death during the premium paying term and guaranteed additions at 7% of the total tabular annual premium throughout the policy term.
Additionally, the plan provides flexibility in choosing risk cover options, premium payment term, and policy term. It also offers incentives for high basic sums assured and rebates for existing policyholders.
The plan offers two options for calculating the 'sum assured on death'. Proposers can choose Option I, which is the higher of 7 times the tabular annual premium or the basic sum assured, and Option II, which is 10 times the tabular single premium.
The choice should be made carefully, as the premium and benefits will vary based on the selected option and cannot be changed later.
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The minimum entry age for both lives is 18 years, and the minimum maturity age is 28 years under both options.
For Option I, the maximum maturity age is 75 years, while for Option II, it is 60 years. The policy term options include 10, 15, 20, or 25 years.
As of June 04, 2026, at 12:02 PM, LIC share price on NSE was trading at ₹400.35 down by 0.63% from the previous closing price.
The New Jeevan Sathi Limited Premium plans by LIC provide a balance of protection and savings for couples, with guaranteed benefits that cater to specific insurance needs.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or 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.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jun 4, 2026, 12:31 PM IST
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