A High-Value Endowment Plan for Savings + Protection
LIC’s NAV Jeevan Shree Plan is a thoughtfully crafted life insurance plan offering guaranteed additions, dual death benefit options, and tax savings — all under a limited premium payment structure. Whether you’re planning your financial future or protecting your loved ones, this plan delivers powerful benefits that grow over time.
Dual Benefit: Protection + Savings
It’s an endowment assurance plan that provides life cover during the term of the policy and a lump sum payout at maturity. So, you’re covered while also saving for your future.
Guaranteed Additions Every Year
Get a guaranteed percentage of your premium added to your policy every year — providing assured growth of your wealth.
Flexible Death Benefit Options
Choose from:
- Option I: Higher of 7 times the Annual Premium (adjusted) or Basic Sum Assured
- Option II: Higher of 10 times the Annual Premium or Basic Sum Assured
This allows you to tailor your life cover as per your needs.
Maturity Benefit
At the end of the term, you’ll receive the Basic Sum Assured + Accumulated Guaranteed Additions — a tax-free amount.
Multiple Payout Options
Receive your maturity or death benefits in one lump sum, or opt for easy installments over 5, 10, or 15 years.
Liquidity Through Loan & Surrender
Need cash in an emergency? After just 1 year of premiums, the policy acquires surrender and loan value. You can borrow against it or surrender it if necessary.
Enhanced Coverage via Riders
Boost your protection with optional riders like:
- Accidental Benefit Rider (AB)
- Term Rider
Pay a small extra premium for extra peace of mind.
Tax Benefits
- Get deductions under Section 80C for premiums paid
- Enjoy tax-free returns under Section 10(10D) on maturity
| Particular | Details |
|---|---|
| Plan Name | LIC NAV Jeevan Shree |
| Sum Assured | ₹10,00,000 |
| Policy Term / PPT | 20 years / 12 years |
| Annual Premium (1st Year) | ₹1,02,252 (Incl. GST) |
| Annual Premium (2nd Year onwards) | ₹1,00,051 (Incl. GST @2.25%) |
| Total Premium Paid Over 12 Years | ₹8,39,993 |
| Total Returns from LIC | ₹26,27,869 (Tax-Free) |
| Tax Savings Every Year | ₹30,235 under Sec. 80C |
| Effective Daily Cost | ₹280 only |
| Total Life Cover by Maturity (incl. bonus) | ₹26.27 Lakhs |
| Additional Accidental Death Benefit | ₹10 Lakhs |
How Your Risk Cover Grows
In this plan, your risk cover increases every year thanks to the guaranteed additions.
At the end of the 20-year term (age 56), your risk cover grows from ₹10,09,356 to a whopping ₹26,27,869.
You also have the flexibility to take a loan against your policy at 9.5% p.a. or surrender it after 1 year.
Who Should Choose This Plan?
Salaried individuals planning long-term financial security
Parents saving for children’s future
Professionals looking for tax-saving investment options
Anyone aged 0 to 60 years, looking for a combination of insurance and assured returns