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LIC's New Jeevan Nidhi (Plan No. 818)

LIC's New Jeevan Nidhi Plan is a conventional with – profits pension plan which provides for death cover during the deferment period and offers annuity on survival to the date of vesting.

Accident death and Disability Benefit:-
  • Accident Benefit Sum Assured in equal monthly installments spread over 10 years.
  • The Future premiums are waived under the policy(including the premium under basic plan) to the extent of Accident Benefit Sum Assured.
  • The Risk Cover continues and maturity amount would be payable after completion of Term.
Age at Entry Minimum 20 years (nbd) Maximum 60 years (nbd)
Your age at vesting Minimum 55 years (nbd) Maximum 65 years (nbd)
Deferment period Minimum 5 years under single premium
Minimum 7 years under regular premium
Maximum 35 years
Sum assured For Single premium - Minimum 150000/-
For Regular premium - Minimum 100000/-
No limit
Thereafter in Multiples of 5000  
Modes of premium Yearly, Half yearly, Quarterly, Monthly & Single Prem.  

Premium calculation: 
New Jeevan Nidhi Know your premium
Title: First Name: * Middle Name: Last Name:
Date of birth (dd/mm/yyyy):
Age: *
Sum assured *
Policy term:
Premium paying term:
Bonus Rate: FAB Rate: Tax set off rate: Tax Exempt limit
Pension Options: Pension Mode:
Accidental Death & Disability Benefit Rider
Payment of double the sum assured in case death due to an accident,
against payment of a small additional premium..
I want : Yes No
Rs. Single Rs. Yearly Rs. Half yearly Rs. Quarterly Rs. Monthly
Note: Service Tax: 3.09% extra on 1st Year Premium and 1.545% extra for Subsequent year Premium,
as per the Tax laws and the rate of tax as applicable from time to time.

* Cash Flow, Medical Underwritting, Yield , Plan Summary will be available on demand while printing reports for registered users only.

To be a member, go to Membership Page It is Free!

Mobile No: +91 Email id:

* Disclaimer :

  • Premiums are indicative.
  • Premium calculations may vary as per Government taxes and any other charges applied by LIC

Plan details


    Death Benefits

  • Death during first five policy years: Provided the policy is in full force, Basic Sum Assured along with accrued Guaranteed Addition shall be paid as lump sum or in the form of an annuity or party in lump sum and balance in the form of an annuity to the nominee/legal heir at the then prevailing immediate annuity rates.

  • Death after first five policy years: Provided the policy is in full force, Basic Sum Assured along with accrued Guaranteed Addition, vested Simple Reversionary Bonuses and Final Additional Bonus, If any shall be paid as lump sum or in the form of an annuity or partly in lump sum and balance in the form of an annuity to the nominee/legal heir at the then prevaling immediate annuity rates.

  • The total death benefit at any time shall not be less than 105% of the total premiums paid (excluding taxes, extra premium and rider premium if any)

Benefits on Vesting

  • Basic sum assured + Guaranteed Addition + Vested Rev Bonus + Final additional bonus, made available with two options-
  • To purchase an immediate annuity
  • To purchase a new single LIC’s premium deferred pension product
  • Guaranteed Addition

    On this policy guaranteed addition is provided. Guaranteed addition @ Rs 50/- per thousand on basic sum assured will be added to the basic sum assured for each completed year for first 5 years.

    The guaranteed addition will be added fully in case of death, surrender of fully paid-up policy.

    Accident benefits

    On payment of an additional premium of only Re.1/- per year per thousand of sum assured, you can have a very attractive Double Accident Benefit.

    On payment of an additional premium of only Re.1.50/- per year per thousand of sum assured, If the Life Assured is engaged in police duty in any police organization other than paramilitary forces and opts for this cover while engaged in police duty.

    The benefit provides for the payment of an additional amount equal to the sum assured in case of death of due to any accident or permanent disability caused by accident. These benefits will be available immediately on death. The minimum Accident Benefit Sum Assured (Under regular premium) is Rs. 1,00,000/-


Every year the Life Insurance Corporation distributes its surplus among policyholder to ‘with profits’ polices. The policy will participate in profit from 6th policy year onwards till the end of deferment period. This is the amount which LIC pay you extra besides the sum assured. The vested simple reversionary bonus is payable on vesting, or at death or at accidental death. In case of death bonus is paid to nominee.

Final addition Bonus may also be declared will be payable on vesting or on earlier death.


Assignment and nomination

Nomination on proposal stage is necessarily.
No assignment is allowed under this plan.

Revival of Lapsed Policy:

If premium due is not paid within the days of grace period your policy will get lapsed.
LIC allow reviewing this policy any time within 5 years from the date of first unpaid premium. There are 5 different options are available to review your policy,
• Ordinary Revival,
• Special Revival
• Installment Revival.
• Loan-cum-Revival
• Survival benefit cum Revival schemes.
Request for revival may be made to the branch office servicing the policy. \

Surrender Value

When a policyholder wishes to encase his policy due to urgent need of cash he returns back the policy before the expiry of policy period. This is called surrender of policy. Policies can be surrendered provided it is kept in force for at least 3 years but before the dates on which annuity vests.

The surrender value will be guaranteed surrender value + accrued guaranteed addition + vested revisionary bonuses

Guaranteed surrender value

For single premium policies Within three policy years from Date of Commencement of policy: 70% of single premium excluding taxes and extra premium if any.
Thereafter: 90% of single premium excluding taxes and extra premium if any.
For regular premium policies The Guaranteed Surrender value shall be a percentage of total premiums paid excluding taxes, extra premiums if any and rider premium, if opted for. This percentage will depend on the deferment period and policy year in which the policy is surrendered.

Paid-up value

On cessation of premiums after at least three years premium have been paid, the policy will be acquire paid-up value. This policy will not be wholly void but the basic sum assured will be reduced to such sum, called paid-up sum assured. This policy will not be entitled to guaranteed addition and any bonuses in future. The accrued guaranteed addition and vested bonuses till date will remain attached to reduced paid-up policy.
This paid-up sum assured is payable on the date of vesting or on prior death.

Female Lives category: Will be declared by LIC
Age Proof: Will be declared by LIC.
Policy proposal form number: 300
Dating back: Allowed, interest will be charged
at the prevailing rate at the time of completion of policy
Insurance under Non Medical
Scheme :
Will be declared by LIC
Actual sum assured: Basic sum assured + guaranteed addition

Commission to agents, corporate agents, brokers

Commission rates (as percentage of premium) payable to agents and corporate agents during the premium paying term (ppt) are as under:

Single Premium 1st year Subsequent years
Single premium 2% Nil
Regular premium 7.5% 2%
Policy servicing
Nomination Surrender
of Policy
Cooling off Period