LIC Launches Nav Jeevan Shree Plans 911 & 912: Complete Guide for 2025
Discover everything about LIC's latest non-linked endowment plans offering guaranteed returns and comprehensive life coverage for modern families.
Table of Contents
Overview of Nav Jeevan Shree Plans
The Life Insurance Corporation of India (LIC) has recently launched two new insurance plans under the Nav Jeevan Shree series - Plan 911 and Plan 912. These are non-participating, non-linked, individual savings plans designed to provide comprehensive life coverage with guaranteed returns.
Key Highlight: Both plans offer a unique combination of life protection and savings, making them ideal for individuals seeking long-term financial security with guaranteed benefits.
The Nav Jeevan Shree plans are part of LIC's continued effort to provide innovative insurance solutions that meet the evolving needs of Indian families. These plans have a minimum term of five years and a maximum term of 20 years, providing flexibility for different financial planning needs.
For those considering various LIC investment options, you might also be interested in exploring LIC's new FD scheme and Smart Pension 2025, which offers complementary retirement planning benefits.
Nav Jeevan Shree Plan 911 Details
Plan 911 is designed as a short to medium-term savings plan with life insurance coverage. This plan caters to individuals who want to build a corpus over a relatively shorter period while ensuring their family's financial security.
Plan Structure
- Non-linked, non-participating endowment plan
- Minimum policy term: 5 years
- Maximum policy term: 15 years
- Premium payment: Limited premium payment option
- Guaranteed returns with loyalty additions
Who Should Consider Plan 911: This plan is ideal for young professionals, newly married couples, or anyone looking for a short-term savings solution with life insurance coverage.
Nav Jeevan Shree Plan 912 Details
LIC Nav Jeevan Shree Plan 912 is a Non-Linked, Non-Participating, Limited Premium Endowment Plan that falls under the savings category and is tailored for individuals looking for life cover with guaranteed returns.
Plan Structure
- Extended policy term options up to 20 years
- Higher sum assured options
- Flexible premium payment terms
- Enhanced maturity benefits
- Comprehensive death benefit coverage
Who Should Consider Plan 912: Perfect for individuals planning long-term financial goals such as children's education, marriage, or retirement planning with substantial life insurance coverage.
Key Features and Benefits
Life Protection
- Comprehensive death benefit coverage
- Sum assured paid to nominees
- Additional accidental death benefit options
- Waiver of premium benefit available
Guaranteed Returns
- Guaranteed additions every year
- Loyalty additions at maturity
- Non-linked guaranteed benefits
- Predictable returns for financial planning
Flexible Options
- Multiple premium payment options
- Various policy term choices
- Loan facility against policy
- Surrender value availability
Tax Benefits
- Premium deduction under Section 80C
- Maturity proceeds exempt under Section 10(10D)
- Death benefit tax-free to nominees
- Wealth tax exemption benefits
Eligibility Criteria
Age Requirements
- Plan 911: Entry age 18-60 years, maturity age up to 75 years
- Plan 912: Entry age 18-65 years, maturity age up to 80 years
- Age proof required for proposal acceptance
- Medical examination may be required based on age and sum assured
Sum Assured
- Minimum sum assured: ₹1,00,000
- Maximum sum assured: No upper limit (subject to underwriting)
- Sum assured should be appropriate to age and income
- Multiple of annual premium restrictions apply
Important Note: Both plans require medical examination for sum assured above ₹25,00,000 or based on age-specific limits as per LIC's underwriting guidelines.
Plan Comparison: 911 vs 912
Nav Jeevan Shree Plan 911
- Shorter policy terms (5-15 years)
- Quick wealth accumulation
- Lower premium commitment
- Suitable for short-term goals
- Faster liquidity options
Nav Jeevan Shree Plan 912
- Extended policy terms (up to 20 years)
- Higher maturity benefits
- Better long-term wealth creation
- Enhanced loyalty additions
- Comprehensive retirement planning
Tax Benefits
Both Nav Jeevan Shree plans offer attractive tax benefits under the Income Tax Act:
Premium Tax Deduction
- Premiums paid qualify for deduction under Section 80C
- Maximum deduction limit of ₹1.5 lakh per financial year
- Deduction available for self, spouse, and children
- Additional deduction for disabled dependents under Section 80DD
Maturity and Death Benefits
- Maturity proceeds completely tax-free under Section 10(10D)
- Death benefit fully exempt from income tax
- No TDS on maturity or death benefit payments
- Wealth tax exemption on policy value
How to Apply
Application Process
- Visit nearest LIC branch office
- Meet with qualified LIC agent
- Fill application form with required details
- Submit necessary documents
- Complete medical examination if required
- Pay first premium and complete KYC
Required Documents
- Age proof (Birth certificate, Passport, etc.)
- Identity proof (Aadhaar, PAN card, etc.)
- Address proof (Utility bills, Bank statements)
- Income proof (Salary slip, ITR, etc.)
- Medical reports (if required)
- Recent passport-size photographs
Ready to Secure Your Future?
Don't wait! Start your journey towards financial security with LIC's Nav Jeevan Shree plans today.
Contact LIC Agent Visit BranchConclusion
LIC's Nav Jeevan Shree Plans 911 and 912 represent a significant step forward in providing comprehensive life insurance solutions with guaranteed returns. These plans cater to different financial planning needs - Plan 911 for shorter-term goals and Plan 912 for long-term wealth creation.
The key advantages of these plans include guaranteed returns, comprehensive life coverage, tax benefits, and the reliability of LIC's backing. Whether you're planning for your child's education, your retirement, or simply want to create a financial safety net, these plans offer the flexibility and security you need.
Final Recommendation: Consider your financial goals, risk appetite, and investment timeline before choosing between Plan 911 and 912. Consult with a qualified LIC agent to determine which plan best suits your specific needs and circumstances.
Remember, the best time to start securing your financial future is now. With LIC's Nav Jeevan Shree plans, you're not just buying insurance - you're investing in peace of mind and guaranteed financial growth for you and your loved ones.