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LIC’s New Jeevan Sathi limited premium is a non-par, non-linked, life, individual, savings plan. This is a joint life limited premium endowment plan with guaranteed addition.

This plan offers a combination of savings and protection.

This is a non-par product under which benefits payable on the death or survival of the policy holder are guaranteed and fixed irrespective of actual experience. Hence, the policy is not entitled to any discretionary benefits like bonus, etc., or share in surplus.

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Guaranteed additions at the rate of 7% of the total tabular annual premium in respect of premium paid throughout the policy term.
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Flexibility to:
Choose risk cover from two death benefit options

Choose the premium payment term and the policy term

Opt for the payment of maturity/ death benefit in instalments

Benefit of attractive incentives for high basic sum assured

Rebate for existing policyholder and nominee/beneficiary of the deceased policyholder

Takes care of liquidity needs through loan facility

Option to enhance coverage by opting for rider benefits on the payment of additional premium for rider benefits

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The plan offers two options for ‘sum assured on death’. The proposer (primary life assured) must choose one of these options at the time of purchasing the policy, subject to the eligibility conditions.

Option I: Higher of 7 times the tabular annual premium or the basic sum assured

Option II: 10 times of tabular single premium

The options should be chosen carefully depending on your specific needs, as the premium and benefits under the plan shall vary as per the option chosen and the same shall not be altered later.

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Minimum age for entry and maximum age for maturity

Minimum age at entry (both lives): 18 years (completed) under Option I and Option II

Minimum age at maturity: 28 years (completed) under both options​
Maximum age at maturity:
Option I: 75 years (nearer birthday)
Option II: 60 years (nearer birthday)
Policy term: 10, 15, 20, or 25 years (available under both options)