🦺 LIC’s Nav Jeevan Plan

Complete Details in Simple Words

LIC’s Nav Jeevan Plan (Table No. 853) is one of the trusted life insurance plans offered by the Life Insurance Corporation of India (LIC).
It is a non-linked, with-profits, savings-cum-protection plan, meaning it gives both life insurance coverage and a saving benefit with bonuses.

This plan is designed for people who wish to combine protection with savings. It provides financial support to your family in case of your unfortunate death during the policy term and also offers a lump-sum amount at maturity if you survive the term.
It is suitable for individuals who want a single investment plan that gives life cover, returns, and peace of mind.

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Main Highlights

• Provides financial protection in case of the life assured’s death.

• Offers a guaranteed lump-sum amount on maturity if the policyholder survives.

• Participates in LIC’s annual profits, allowing you to earn bonuses.

• Offers two premium payment options — Single Premium or Limited Premium (5 years).

• Ensures long-term savings and family security together.

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Eligibility and Policy Details

Feature	Details
Plan Name	LIC’s Nav Jeevan
Plan No.	853
Type	Non-linked, with-profits, endowment-type savings plan
Minimum Entry Age	90 days (completed)
Maximum Entry Age	60 years (Single Premium) / 65 years (Limited Premium)
Policy Term	10 to 18 years
Premium Paying Term	Single or 5 years
Minimum Sum Assured	₹ 1,00,000
Maximum Sum Assured	No limit (based on income proof)
Premium Payment Mode	Yearly, Half-Yearly, Quarterly, Monthly (for Limited Premium)
Loan Facility	Available after the policy acquires surrender value
Surrender Value	Available after 2 years (for Limited Premium)

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Flexibility and Convenience

The plan provides flexibility to choose how long you wish to pay the premium.
You can make a one-time payment (Single Premium) or pay for five years only, while enjoying coverage for the full policy term.
This flexibility makes it a great choice for working professionals, self-employed individuals, or those planning early financial security.

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Benefits of LIC Nav Jeevan

1. Death Benefit

If the life assured dies during the policy term, the nominee will receive:

• Sum Assured on Death + Bonuses (if any).

  • For Single Premium policies: 125% of the Basic Sum Assured.

  • For Limited Premium policies: Higher of 10 times the annual premium or 105% of total premiums paid (excluding taxes and rider premiums).

This ensures your family remains financially secure even in your absence.

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2. Maturity Benefit

If the life assured survives till the end of the policy term, they will receive:

• Sum Assured on Maturity + Reversionary Bonus + Final Additional Bonus (if any).

This maturity amount can be used for future goals like higher education, marriage expenses, buying a house, or a comfortable retirement.

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3. Participation in Profits

This plan is a with-profits policy, which means it shares in LIC’s yearly profits.
Each year, LIC may declare a Simple Reversionary Bonus which gets added to your policy and is payable at the time of maturity or death, whichever occurs first.

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4. Loan Facility

After your policy acquires a surrender value, you can take a loan against the policy.
This gives you liquidity in times of need without having to discontinue your plan.

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5. Tax Benefits

• Premiums paid are eligible for tax deduction under Section 80C of the Income Tax Act, 1961.

• Maturity or death proceeds are tax-free under Section 10(10D), subject to current tax laws.

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Example Illustration

Let’s take a simple example to understand how this plan works.

Suppose a person aged 30 years takes LIC’s Nav Jeevan policy with:

• Policy Term: 16 years

• Sum Assured: ₹5,00,000

• Premium Paying Term: 5 years

He pays premiums for only 5 years and remains insured for 16 years.

If he survives till maturity, he will receive:

• ₹5,00,000 + Bonuses + Final Additional Bonus (if any).

If he dies anytime during the term, his family will receive:

• 10 × Annual Premium or the Basic Sum Assured (whichever is higher) + Bonuses.

This shows that the plan provides both protection and guaranteed savings.

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Advantages of LIC Nav Jeevan

• Combines life insurance + savings in one plan.

• Short premium paying term — only 5 years or one-time payment.

• Flexible choice of payment modes.

• Participates in LIC bonuses every year.

• Offers loan facility for financial emergencies.

• Ideal for individuals seeking secure, long-term financial planning.

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Why Choose LIC Nav Jeevan

LIC is India’s most trusted insurance brand, known for its stability and customer care.
LIC’s Nav Jeevan continues this legacy by offering a plan that ensures your family’s financial protection while also helping you build your savings.

Whether you are a young professional, a family person, or nearing retirement, this plan helps you achieve your goals safely.
It’s a simple, reliable, and profitable way to plan your future.

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Final Words

LIC’s Nav Jeevan Plan is a perfect combination of security, savings, and stability.
It ensures your loved ones are protected and your money grows steadily through LIC’s annual bonuses.
If you want a trusted plan that gives you both peace of mind and long-term returns, LIC Nav Jeevan is a great choice.