LIC’s New Jeevan Nidhi Plan is a conventional with profits pension plan with a combination of protection and saving features. This plan provides for death cover during the deferment period and offers annuity on survival to the date of vesting.

• Minimum Basic Sum Assured: Regular Pay – Rs.1,00,000/-
• Single Pay – Rs.1,50,000/-

• Maximum Basic Sum Assured: No Limit

• Minimum Policy Term: 5 years

• Maximum Policy Term: 35 years

• Minimum Entry Age: 20 years (completed)

• Maximum Entry Age: Regular Pay – 58 years
• Single Pay – 60 years

• Minimum Vesting Age: 55 years

• Maximum Vesting Age: 65 years

• Mode of Premium Payment: Yearly, half-yearly, quarterly & monthly

LIC’s Jeevan Nidhi Benefit Details

• On Death during first five policy year : Sum Assured + Guaranteed Addition

• On Death after first five policy year : Sum Assured + Guranteed Addition + Vested Bonus + FAB if any.

• This Death Benefit shall not be less than 105% of all Premiums paid as on death.

• On Vesting : On survival Basic Sum Assured + Vested Bonus + FAB if any.

• Surrendered Value: the policy can be surrendered anytime for Single Pay plans where the Surrender Value if surrendered in the first 3 years will be 70% of the premium paid and thereafter it will be 90% of the premium paid.
• For Regular Pay plans, the policy can be surrendered after 2 or 3 full years premiums have been paid.

• Loan : Loan is not available under the plan.

• Income Tax Benefit: Income tax benefit on the premium paid as per Section 80CCC
• on the death benefit under Section 10(10D) of the Income Tax Act.

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