Overview

LIC Nav Jeevan Shree is a guaranteed savings and life insurance plan that is available in two variants: single premium (Plan 911) and limited premium (Plan 912). However, the single premium variant was withdrawn by the Life Insurance Corporation of India (LIC) in 2026.

Key Features

  • Guaranteed Additions: These accrue at the end of each policy year as a percentage of the total tabular annual premium.
  • Entry Age Eligibility: 30 days to 60 years (depends on the premium payment term).
  • Policy Term: 10 to 20 years (depends on the premium payment term).
  • Minimum Basic Sum Assured: ₹5 lakh with no upper limit (subject to insurer underwriting).

For more information about the policy, you can refer to LIC’s official policy page.

Whether you're looking for guaranteed returns, capital protection, or a disciplined way to build long-term savings, understanding how this plan works can help you decide if it fits your financial goals.

In the next few minutes, you'll understand how LIC Nav Jeevan Shree works, its guaranteed returns, key benefits, limitations, and whether it deserves a place in your financial plan.

Confused about whether a savings plan by LIC will meet your future goals? Book a free call or chat with a Ditto advisor, and let us help you out.   

What Is LIC Nav Jeevan Shree?

LIC’s Nav Jeevan Shree is a non-participating, non-linked plan that combines guaranteed savings with life cover. It is designed to help you build a predictable corpus for future financial goals while providing insurance protection. The plan can be purchased offline through authorized LIC channels or directly online through LIC's official website.

Eligibility Criteria for LIC Nav Jeevan ShreeEligibility Criteria for LIC Nav Jeevan Shree

EligibilityCriteria
Premium Payment Term (PPT)6, 8, 10, 12, and 15 years
Entry Age Band30 days up to 60 years (depends on PPT)
Minimum Policy Term 10 years to 18 years (depends on PPT) 
Maximum Policy Term20 years 
Maturity Age Range18 years to 75 years
Premium Payment ModeYearly, half-yearly, quarterly, or monthly

Key Features of LIC Nav Jeevan Shree (Plan 912)

    • Death Benefit: Choose between two death benefit options at the time of purchase: Option I (the higher of 7 times the annualized premium or the basic sum assured) and Option II (the higher of 10 times the annualized premium or the basic sum assured). This choice is permanent and cannot be changed later.
    • Maturity Benefit: If the policy remains in force until maturity, LIC pays the basic sum assured at maturity, along with all accrued guaranteed additions, helping you build a predictable savings corpus.
    • Guaranteed Additions: Guaranteed additions accrue at the end of every policy year for policies that remain in force. The rate depends on the policy term and ranges from 8.5% to 9.5% of the total tabular annual premium paid, with longer policy terms earning higher guaranteed additions.
    • Settlement Option: Instead of receiving the maturity amount as a lump sum, you can choose to receive it in regular installments over 5, 10, or 15 years, subject to the policy conditions.
    • Death Benefit Installment Option: Policyholders can choose for the nominees to receive the death benefit in installments over 5, 10, or 15 years, rather than taking the entire amount as a lump sum.
    • Policy Loan: A policy loan is available after the first policy year, provided at least one full year's premium has been paid. The loan amount is subject to the policy's available surrender value and LIC's applicable rules.
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Riders Offered with LIC Nav Jeevan Shree

01

Accidental Death and Disability Benefit Rider

This rider can be added to an in-force policy during the premium-paying term, provided at least 5 years of premiums remain. It offers additional financial protection in case of accidental death or permanent disability, subject to LIC's eligibility conditions.

02

Accident Benefit Rider

This rider provides an additional payout in the event of accidental death. It can be added to an in-force policy during the premium-paying term if at least 5 years of premium payments are still outstanding.

03

New Term Assurance Rider

Available only at policy inception, this rider provides additional life cover for the duration of the policy term. If the life insured dies during the rider term, the nominee receives the rider sum assured in addition to the base policy benefits.

04

Premium Waiver Benefit Rider

This rider is available only when the life assured is a minor. If the proposer (usually the parent) dies during the policy term, all future premiums are waived while the policy continues. If the rider's term plus the proposer’s age is more than 70 years, the rider shall not be allowed.

Note: The combined premium for all life insurance riders cannot exceed 30% of the base policy premium. The Accident Benefit Rider can provide up to 3 times the basic sum assured, while benefits under all other riders cannot exceed the basic sum assured of the base policy.

While purchasing a life insurance plan, not all riders are worth adding. For instance, when selecting riders in term insurance plans, we recommend opting for the Waiver of Premium and Critical Illness rider. In our experience at Ditto, we’ve seen these riders provide value for your money. 

LIC Nav Jeevan Shree Premium and Maturity Illustration

Sample Premiums Across Policy Terms

Options10 Years15 Years20 Years
Option I₹1,01,350₹93,425₹76,750
Option II₹1,03,025₹96,625₹81,150

Note: The illustrative premiums are based on a basic sum assured of ₹5 lakh for a 35-year-old individual who opts for a 6-year PPT purchased offline. The figures are taken from the LIC Nav Jeevan Shree Plan brochure. 

Maturity Returns

OptionAnnual PremiumTotal Premium PaidMaturity Benefit at Year 20Death Benefit at Inception
Option I₹1,19,500₹9,56,000₹25,17,459₹10,00,000
Option II₹1,21,300₹9,70,400₹25,40,316₹12,13,000

The above illustrative figures are based on a 30-year-old individual choosing an 8-year PPT with a 20-year policy term, as shown in LIC's official Nav Jeevan Shree brochure.

The maturity amount may look attractive at first glance because the total premiums of around ₹9.56 lakh–₹9.70 lakh grow to about ₹25.17 lakh–₹25.40 lakh after 20 years. However, premiums are paid over the first 8 years, while the payout comes only at the end of the 20th year. 

When you account for the timing of these cash flows, the effective annual return is around 6%, depending on the premium payment schedule and the option selected.

Did You Know?

LIC Nav Jeevan Shree rewards policyholders who opt for higher coverage and certain purchase channels. 

  • Higher Sum Assured Benefit: Larger basic sum assured amounts can earn higher guaranteed addition rates compared to lower coverage levels.
  • Online Purchase Advantage: Buying the policy directly through LIC's website may qualify you for additional guaranteed addition incentives.
  • Existing Customer Benefit: Existing LIC policyholders and eligible nominees or beneficiaries receive enhanced guaranteed addition rates under specified conditions.

Pros and Limitations of LIC Nav Jeevan Shree

What Works Well

    • Guaranteed maturity benefit helps you plan long-term goals with greater certainty since payouts are fixed from the beginning.
    • No market risk because returns are not linked to equity or debt market performance.
    • Guaranteed additions continue throughout the policy term, helping increase the maturity value even after premium payments end.
    • A policy loan facility offers access to funds during emergencies without immediately surrendering the policy.

Things to Keep in Mind

    • Life cover is limited, so it should not replace a comprehensive term insurance plan. A term plan offers large life protection at affordable premiums.
    • Guaranteed addition is not the same as annual return, so actual returns are lower than what the headline rate may suggest.
    • Early surrender can reduce value, especially before the required premium payment period is complete.
    • No bonus participation, which means there is no opportunity to benefit from LIC's future surplus.
    • Inflation can reduce purchasing power, making the guaranteed maturity amount less valuable over long investment periods.

Who Should Buy and Who Should Avoid LIC Nav Jeevan Shree

Works ForShould Be Avoided by Those
Buyers who already have adequate term insurance and want a separate guaranteed savings plan for long-term financial goals.People who need substantial life cover to protect their family's income should choose a term insurance plan first.
Conservative investors who prefer LIC-backed guaranteed products over market-linked investments.Investors seeking higher long-term wealth creation may find low-cost mutual funds or other market-linked options more rewarding.
People who can comfortably pay higher premiums for a limited period in exchange for guaranteed future benefits.Buyers who need easy access to their money in the short or medium term may find the lock-in restrictive.
Investors who prefer stable returns and want to avoid market volatility completely.Investors comfortable with market fluctuations may achieve better long-term growth through equity-oriented investments.

Why Choose Ditto for Life Insurance? 

At Ditto, we’ve assisted over 8,00,000 customers with choosing the right insurance policy. Why customers like Aaron below love us:

LIC Nav Jeevan Shree
    • No-Spam & No Salesmen
    • Rated 4.9/5 on Google Reviews by 25,000+ happy customers
    • Backed by Zerodha
    • Dedicated Claim Support Team
    • 100% Free Consultation

You can book a FREE consultation. Slots are running out, so make sure you book a call now or chat over WhatsApp with our advisors.

Conclusion

LIC Nav Jeevan Shree is best suited for conservative investors who value guaranteed returns, capital protection, and predictable savings over higher growth. If certainty matters more than maximizing returns, this plan can help build a disciplined corpus for long-term financial goals.

For most working individuals, however, buying a term insurance plan first and investing separately through Fixed Deposits (FDs), Public Provident Fund (PPF), mutual funds, or other suitable investments often offers greater flexibility, higher life cover, and better long-term wealth creation. Keeping protection and investment separate leads to more efficient financial planning.

If you are looking for a term plan, you can explore the best term insurance plans in 2026. 

Frequently Asked Questions

What is LIC Nav Jeevan Shree Plan 912, and how does it work?

LIC Nav Jeevan Shree Plan 912 is a non-participating, non-linked savings and life insurance plan that offers guaranteed benefits throughout the policy term. You pay premiums for 6, 8, 10, 12, or 15 years, while the policy continues for 10 to 20 years. Every year the policy remains in force, LIC credits guaranteed additions, which are paid along with the basic sum assured at maturity. The minimum basic sum assured is ₹5 lakh, with no upper limit subject to underwriting. The plan can be purchased through authorized LIC channels or directly from LIC's website.

What is the difference between LIC Nav Jeevan Shree Plan 911 and Plan 912?

The LIC Nav Jeevan Shree plan was launched in two variants. Plan 911 was the single-premium option, in which the entire premium was paid at the beginning of the policy. Plan 912 is the limited premium version, allowing premiums to be paid over 6, 8, 10, 12, or 15 years. LIC withdrew the LIC Nav Jeevan Shree Single Premium (Plan 911) in 2026, making Plan 912 the only version of Nav Jeevan Shree currently available for purchase. If you are specifically looking for a single-premium LIC product, you can explore the LIC Single Premium Endowment Plan.

What are guaranteed additions in LIC Nav Jeevan Shree, and how are they calculated?

Guaranteed additions are fixed benefits that LIC credits at the end of every policy year, provided the policy remains in force. Depending on the chosen policy term, the guaranteed addition rate ranges from 8.5% to 9.5% of the total tabular annual premium paid. Longer policy terms qualify for higher rates. These additions continue to accumulate throughout the policy term and are paid along with the maturity benefit. However, the stated percentage does not represent your annual investment return, since it is calculated on the tabular premium rather than the total accumulated corpus.

What are the eligibility criteria for the LIC Nav Jeevan Shree Plan 912?

LIC Nav Jeevan Shree is available for individuals aged 30 days to 60 years, with the maximum entry age varying based on the selected Premium Payment Term. The policy term ranges from 10 to 20 years, while the maturity age can range from 18 to 75 years, depending on the entry age. The minimum basic sum assured is ₹5 lakh, with higher amounts available subject to LIC's underwriting guidelines. Premiums can be paid annually, semiannually, quarterly, or monthly, giving policyholders the flexibility to choose a payment schedule that suits their financial needs.

When can I surrender LIC Nav Jeevan Shree Plan 912, and what will I receive?

You can surrender LIC Nav Jeevan Shree after completing the first policy year, provided at least one full year's premium has been paid. However, the policy acquires a guaranteed surrender value only after two full years' premiums have been paid. On surrender, LIC pays the higher of the guaranteed surrender value (including eligible guaranteed additions) or the special surrender value, as stated in the benefit illustration in the policy document. Since surrendering early can significantly reduce the policy's overall value, it is generally advisable to purchase this plan only if you can comfortably hold it for the intended policy term.

What happens if I stop paying premiums in the LIC Nav Jeevan Shree Plan 912?

If you stop paying premiums before completing one full policy year, the policy lapses after the grace period, and no benefits are payable. If at least one full year's premium has been paid, the policy becomes paid-up, rather than lapsing, and continues until maturity with reduced benefits. For policies issued on a minor's life before risk commencement, if the policy becomes paid-up, the death benefit is limited to the return of total premiums paid, excluding taxes, extra premiums, and rider premiums.

How does LIC perform compared to the insurance industry?

LIC remains one of India's strongest life insurers across several important industry benchmarks, although these figures reflect LIC's overall performance rather than any individual policy. For FY 2024–26, LIC reported an average 98.16% claim settlement ratio, a 95.48% amount settlement ratio (average FY 2023–25), and settled 96.89% of claims within 30 days. It also maintained a 2.15x solvency ratio, comfortably above the regulatory requirement, while recording one of the industry's lowest complaint ratios. These figures are based on IRDAI Annual Reports, LIC's public disclosures, and Ditto’s term insurance data lab.

What are the tax benefits of the LIC Nav Jeevan Shree Plan 912?

LIC Nav Jeevan Shree may offer tax benefits, subject to the applicable provisions of the Income-tax Act, 2025. Premiums qualify for a deduction under Section 123 (previously Section 80C), within the overall ₹1.5 lakh annual limit under the old tax regime. For policies issued after April 1, 2012, premiums above 10% of the basic sum assured may not qualify for deduction. The maturity proceeds, including guaranteed additions, are generally exempt under Section 11 (previously Section 10(10D)), only if the annual premium does not exceed 10% of the basic sum assured.

What is the suicide exclusion in LIC Nav Jeevan Shree Plan 912?

If the life assured dies by suicide, whether sane or insane, within 12 months from the date of commencement of risk, the nominee does not receive the full death benefit. Instead, LIC pays 80% of the total premiums paid up to the date of death, excluding taxes, extra premiums, and most rider premiums, provided the policy is in force. This exclusion does not apply if the life assured was below 8 years of age at entry. In such cases, LIC pays the death benefit applicable to children below 8 years, as specified under the policy terms.

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