LIC’ NAV JEEVAN plan is a Non-Linked, With Profit Endowment Life Assurance Plan. The premium can be paid either as Single or as Limited Premium with a premium payment term of 5 years.


Combination of Life insurance & investment

It gives a lump sum amount at the end of term, to take care of important milestones or dreams in your life like Foreign Trips, children’s education, and children’s marriage. In case of unfortunate demise, family needs are taken care.


Discount on Higher Sum Assured

On higher Sum Assured discount is offered on premium. If Sum Assured is more than Rs.200000/- then discount is given on premium and lower premium rates applied.


Additional Accident Benefit

In case of untimely demise due to an accident, an additional sum equal to purchase price will be given. By paying small extra premium amount, you can secure your life for high insurance protection on natural or accidental death by opting DAB and Term Rider.


Risk Cover Option Available

Policyholder above age 45 years, can choose risk cover either 10 times of annualized premium OR 7 times of annualized premium.


ADVANTAGES


Avail Tax benefit on premium paid

Tax Free maturity amount

Tension Free Claim Settlement

Conditions

Minimum Sum Assured :- Rs. 100000.00

Maximum Sum Assured :-  No Limit

Premium Payment Option

Sum Assured Range

Sum Assured Multiple

           Single

Rs. 100000.00 to 900000.00

Rs. 20000.00

Above Rs. 900000.00

Rs. 50000.00

      Limited Payment

Rs. 100000.00 to 900000.00

Rs. 20000.00

Above Rs. 900000.00

Rs. 25000.00

Minimum Age at Entry :-

            Single Premium:-        90 Days (Completed)

            Limited Premium:-      90 Days (Completed) under Option 1

                                                40 Years (nearer birthday) under Option 2

 

Maximum Age at Entry  :-

            Single Premium :-       44 Years (nearer birthday)

            Limited Premium :-     60 Years (nearer birthday) under Option 1

                                                65 Years (nearer birthday) under Option 2

 

Minimum Maturity Age  :-       18 years Completed

Maximum Maturity Age  :-

            Single Premium:-        62 Years (nearer birthday)

            Limited Premium:-      75 Years (nearer birthday) under Option 1

                                                80 Years (nearer birthday) under Option 2

 

Policy Term :- 10 Years to 10 Years

Premium Mode :- Yearly, Half Yearly, Quarterly, Monthly,Monthly(ECS) and through salary deducations(SSS)

 

 

DAB Conditions

Maximum Sum Assured :- Rs. 1,00,00,000/- not exceed to the basic sum assured

Minimum Entry Age :- 18 Years completed

Maximum Entry Age :- Same as Basic Plan

Maximum Maturity Age :- 70 Years nearest birthday