Need Help? Chat with us

About LIC Navjeevan Policy

Rated by users

LIC’s Navjeevan is a participating non-linked plan which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lump-sum at the end of the selected policy term in case of his/her survival. This plan also takes care of liquidity needs through its loan facility.

Key Benefits

  • Combination of Endowment Plan with Profit and whole life plan
  • Death benefit during the policy term is higher than the basic sum assured
  • Liquidity during the policy term as well as after maturity
  • Term Insurance component after maturity without any premium as well as any medical requirement.

Features & Conditions

Premium Paying Term
5 years
Option 1
5 years
Option 2
Min Age at Entry90 days 90 days45 yrs nbd
Max Age at Entry44 yrs nbd 60 yrs nbd65 yrs nbd
Policy Term 10 to 18 years
Min Maturity Age18 yrs lbd
Max Maturity Age62 yrs nbd 75 yrs nbd 80 yrs nbd
Minimum SA 1,00,000
A Multiples:
Up to 9 lacs
Above 9 lacs
Maximum SA No Limit

Additional Benefits

Benefits payable at the end of Policy Term: Basic Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.

Death benefit:
Provided all due premiums have been paid, the following death benefit shall be paid:

  1. On Death during the policy term: Death benefit, defined as sum of Sum Assured on Death and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.
  2.  The premiums mentioned above exclude service tax, extra premium and rider premiums, if any. ii. On death of policyholder at any time after policy term: Basic Sum Assured.

Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation during policy term provided the policy is in full force.

Final (Additional) Bonus may also be declared under the plan in the year when the policy results into death claim during the policy term or due for the survival benefit payment provided the policy is in full force and has run for certain minimum term. 

LIC’s Accidental Death and Disability Benefit Rider: LIC’s Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium during the policy term. In case of accidental death during the policy term, Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan. In case of accidental permanent disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly installments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as  premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

Rider sum assured cannot exceed the basic sum assured.

Scroll to Top

Calculate Premium in just 2 minutes

*we do not share your information with any third parties. we shall not send you unnecessary spam emails.