Jeevan Nischay
LIC Jeevan Nischay Summary: (Table No.199)
Jeevan Nischay is a close ended single premium policy with guaranteed maturity benefits exclusively for existing LIC policy holders.
Advantages of Jeevan Nishchay:
- Single Premium policy.
- Guaranteed Maturity benefits with provision of loyalty additions.
- Plan is exclusively for LIC policyholders.
- Wide range of policy terms options.
- Assured maturity benefits (Guaranteed Return + Loyalty Additions)
Assured maturity benefits equal to the Maturity Sum Assured are pre-defined. The specimen Maturity Sum Assured per Rs. 1000/- single premium is given below for some ages and terms:
| Age | 5 Years Plan | 7 Years Plan | 10 Years Plan |
| 30 | 1256 | 1409 | 1715 |
| 40 | 1249 | 1400 | 1699 |
| 50 | 1226 | 1369 | 1645 |
In addition to the assured maturity benefits, there is provision for the loyalty additions. Depending upon the LIC’s experience, the policy will be eligible for Loyalty Addition on death during the last policy year or on the Life Assured surviving the stipulated date of maturity at such rate and on such terms as may be declared by the LIC.
Death benefit:
Death benefit under Jeevan Nishchay policy is equal to five times the single premium, if death is within first year of taking the policy. In case of the death in subsequent years, the death benefit is equal to the maturity sum assured. In case of the death in last year of the policy, death benefit is equal to the maturity sum assured with declared loyalty additions, if any.
Minimum Investment:
Minimum One Time Premium under Jeevan Nischay is Rs.10,000/- However, if premium amount is Rs. 25,000 or more, the policyholder will receive higher maturity sum assured due to available incentive.
Loans:
Loan facility will be available under this plan after the policy. The rate of interest charged for this loan amount would be determined from time to time by the LIC Of India.
Surrender:
Policyholder can surrender the policy after one year of commencement of the policy.
Eligibility Conditions and Restrictions for Jeevan Nischay:
Minimum age at entry : 18 years (completed)
Maximum age at entry : 50 years (nearest birthday)
Policy term : 5, 7 and 10 years
Minimum Single Premium : Rs. 10,000/-
Maximum Single Premium : Rs. 10,00,000/- (Premium shall be in multiples of Rs.1,000/-)
Maximum Basic Sum Assured (First Year Death Benefit) :
Lower of- Rs. 50,00,000, and 50% of total Sum Assured (total death benefit) under all existing in force policies
Cooling off period:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to Life Insurance Corporation Of India within 15 days.
The Unique Identification No. of Jeevan Nischay is 512N258V01
How to Apply for LIC Of India’s Jeevan Nischay?
Contact your nearest Life Insurance Corporation Of India (LIC of India) Branch/ LIC Agent. Or
Fill the Application form to apply online. (Mumbai only)
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Note:
The above is the product summary giving the key features of the Insurance plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.
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Leave comments:
what is the return pattern (e.g. rate of interest)for LIC Jeevan Nischay plan?
is there any table for it?
which policy is best for single premium .
1. Bima bachat
2. Jeevan nischay
Dear Sir
I want to invest some money in Single Premium Insurance Policy for the period of 5 years.Can you suggest me please which policy is advisable .
Regards
Praveen
Dear Sir
I want to invest 25 thousand money in Single Premium Insurance Policy for the period of 5 years. Can you suggest me please which policy is advisable .
Regards
Pullarao
Dear sir,
I want to invest Rs.100000 in Veevan Nishchay for 5 years, what will I get after five year
which policy is best for single premium .
1. Bima bachat
2. Jeevan nischay
and if I want to invest Rs.100000 in jeevan Nishchay for 5 years, what will I get after five year
if i invest Rs. 100000 in jeevan nischay plan , how much i will get after 5 years, 7 years, and 10 years?
hello sir,
i want to invest 150000 as a singal premium which plant is good for me.
i am 37 year old i want to invest 150000 as a singal premium which plant is good for me and how much i get after 10 or 15 years
I would like to present one lic policy for my husband whose date of birth is 20 Dec 1958.Policy should be with low premium (12000)yrly,time period max 15yrs,advise me which is good plan.
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Life Insurance Corporation of India (LIC of India) is the largest insurance company in India. LIC of India was founded in 1956 with the merger of 200 insurance companies. Currently, LIC has Rs.9.31 trillion worth of assets. Its fully owned by Govt. of India and LIC funds about 1/4th of government expenses.
LIC of India is no doubt the most trusted insurance company in India. LIC India has various insurance plans to suit your needs from child insurance to pension plan.
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can i see regarding our policy in my mail which policies have already taken.If any other processor please tell me.with thanks.
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