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LIC

LIC's New Jeevan Sathi – Limited Premium

Individual Savings Plan Individual Savings Plan

Non-Participating, Non-Linked, Individual Savings Plan

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The essentials

Your plan at a glance

Min. sum assured
300000
Policy term
10/15/20/25 Years
Entry age
18 Years
Premium payment
Limited Premium (less than Policy Term)

Plan Overview

LIC’s New Jeevan Sathi – Limited Premium is a Joint Life Limited Premium Endowment Plan designed for a married individual and spouse under a single policy. It combines life protection with savings and provides Guaranteed Additions at 7% of the Total Tabular Annual Premium for premiums paid during the policy term, subject to applicable terms and incentives.

Joint Life Protection
Limited Premium Payment
Dual Life Coverage
Flexible Policy Terms

Features & Benefits

Joint Life Cover
Covers the Primary and Secondary Life Assured under one policy.
Premium Waiver
Future base-plan premiums are waived after the first death during the Premium Paying Term.
Maturity Benefit
Receive Basic Sum Assured plus accrued Guaranteed Additions when at least one life survives to maturity.
Guaranteed Additions
Guaranteed Additions accrue at 7% of Total Tabular Annual Premium for applicable premiums paid.

Coverage Details

Parameter Details
Plan Type Non-Participating, Non-Linked, Individual Savings Plan
Plan No 889
Minimum Basic Sum Assured 3,00,000
Maximum Basic Sum Assured Maximum Basic Sum Assured
Basic Sum Assured Multiple 10,000
Premium Payment Yearly, Half-Yearly, Quarterly, Monthly, through NACH

Eligibility Criteria

Minimum Entry Age 18 years completed – both lives
Maximum Entry Age Depends on Policy Term, Premium Paying Term & Death Benefit Option
Minimum Maturity Age 28 years completed
Maximum Maturity Age Option I: 75 years; Option II: 60 years
Policy Term 10, 15, 20 or 25 years
Premium Paying Term 5, 10 or 15 years

Required Documents

Identity Proof
AADHAAR CARD
Address Proof
VOTER ID
Financial Documents
INCOME CERTIFICATE, PAN CARD, BANK PASSBOOK
Other Documents
PASSPORT SIZE PHOTO, BIRTH CERTIFICATE

Frequently Asked Questions

It is a Joint Life Limited Premium Endowment Plan covering a married individual and spouse under one policy.

A married individual can purchase the policy with their spouse as the Secondary Life Assured.

The minimum entry age is 18 years completed for both lives.

Yes. Guaranteed Additions accrue at 7% of Total Tabular Annual Premium for applicable premiums paid, subject to plan conditions and applicable incentives.

If at least one Life Assured survives until maturity, the Basic Sum Assured plus accrued Guaranteed Additions is payable.

The applicable Death Benefit is paid to the surviving Life Assured, while future base-plan premiums during the remaining Premium Paying Term are waived.
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