LIC Nav Jeevan Shree Plan 912 Calculator
Non-Par, Non-Linked Individual Savings Plan
• Limited Premium Endowment Plan with Guaranteed Additions
• Choose from PPT 6, 8, 10, 12, or 15 years
• Flexible policy terms with two death benefit options
• Online incentives available
Total Premium Payable
nsurance plays a vital role in financial security by providing both protection and dependable savings. In India, Life Insurance Corporation of India is widely recognized as one of the most trusted life insurance providers. Among its latest products is the LIC Nav Jeevan Shree Plan 912, created for individuals who want a secure and flexible option that offers life insurance coverage along with guaranteed savings benefits.
What is LIC Nav Jeevan Shree Plan 912?
LIC Nav Jeevan Shree Plan 912 is a non-linked, non-participating endowment policy with a limited premium payment structure launched by Life Insurance Corporation of India. Under this plan, policyholders are required to pay premiums only for a fixed period, while enjoying insurance protection and maturity benefits throughout a longer policy tenure.
Main Highlights of the Plan
Some of the important benefits and features of this plan are as follows:
- Premium Payment Duration: Policyholders can select a premium payment period of 6, 8, 10, or 12 years according to their financial convenience.
- Policy Duration: The plan offers policy terms ranging between 10 and 20 years, depending on the selected premium payment term.
- Guaranteed Additions: A guaranteed percentage of the yearly premium is credited to the policy every year throughout the term.
- Insurance Protection: The plan provides a death benefit based on the option chosen by the insured person.
- Flexible Benefit Payouts: Maturity proceeds and death claim amounts can be received either as a one-time lump sum or through installment payments.
- Loan Benefit: Policyholders are allowed to take a loan against the policy after meeting the required conditions.
- Eligibility Age: Entry age starts from 30 days, while the maximum entry age can go up to 60 years, depending on the chosen policy and premium payment term.
- Basic Sum Assured: The minimum sum assured under the policy is ₹5,00,000, and there is no maximum limit.
This insurance plan is structured to provide long-term savings with guaranteed additions while also ensuring financial protection for the policyholder’s family.
Benefits of Choosing LIC Nav Jeevan Shree Plan 912
This policy can be a suitable option for people who are searching for:
- Assured Savings Growth: The plan provides guaranteed additions every year, helping the policy value grow in a stable and predictable manner.
- Short-Term Premium Commitment: Premiums need to be paid only for a limited number of years, while the insurance coverage continues for a longer duration.
- Customizable Policy Options: Policyholders can select the policy term and premium payment period based on their financial goals and affordability.
- Financial Protection for Family: In the unfortunate event of the policyholder’s death, the family receives financial support through the death benefit.
- Installment-Based Benefit Payments: The plan gives beneficiaries the choice to receive claim amounts in installments instead of a single lump sum, making money management easier.
- Emergency Loan Support: A loan facility is available under the policy, allowing policyholders to handle urgent financial needs without discontinuing their savings plan.
Key Advantages and Features of LIC Nav Jeevan Shree Plan 912
Guaranteed Additions
One of the major highlights of this policy is the yearly guaranteed additions credited on the premiums paid. Since these additions are not linked to market performance, the plan provides steady and dependable savings growth. The guaranteed addition rates vary according to the selected policy term:
| Policy Term | Guaranteed Addition Rate |
|---|---|
| 10 to 13 Years | 8.5% of Annual Premium |
| 14 to 17 Years | 9.0% of Annual Premium |
| 18 to 20 Years | 9.5% of Annual Premium |
These guaranteed additions accumulate over the policy duration and are payable either at maturity or in case of the policyholder’s death during the term.
Death Benefit Choices
The plan provides two different death benefit options to match the policyholder’s financial preferences:
- Option 1: Higher of 7 times the annual premium or the basic sum assured.
- Option 2: Higher of 10 times the annual premium or the basic sum assured.
The death claim amount can be received through:
- A one-time lump sum payment
- Installments spread over 5, 10, or 15 years
Policyholders can select the installment option either at the beginning of the policy or later during the term.
Maturity Benefits
If the insured survives until the completion of the policy term, the maturity payout includes:
- The basic sum assured
- Accumulated guaranteed additions
The final maturity amount is the combined value of these two benefits.
Flexible Premium Payment Options
This plan allows policyholders to choose premium payment durations of 6, 8, 10, or 12 years according to their financial planning needs. Even after premiums stop, the life cover continues for the remaining policy term, which can extend up to 20 years.
Loan Facility
The policy also offers a loan feature after the completion of the required period, helping policyholders meet emergency financial needs without surrendering the plan.
Tax Advantages
Premium payments and policy benefits may qualify for tax benefits under applicable Indian income tax provisions, subject to prevailing rules and conditions.
Eligibility Criteria and Policy Details of LIC Nav Jeevan Shree Plan 912
| Criteria | Details |
|---|---|
| Minimum Entry Age | 30 Days |
| Maximum Entry Age | Up to 60 Years |
| Policy Duration | 10 to 20 Years |
| Premium Payment Term | 6, 8, 10, or 12 Years |
| Minimum Sum Assured | ₹5,00,000 |
| Maximum Sum Assured | No Upper Limit |
Quick Overview of Benefits
| Benefit | Description |
|---|---|
| Premium Payment Duration | 6, 8, 10, or 12 years |
| Maximum Policy Term | Up to 20 years |
| Guaranteed Additions | 8.5% to 9.5% of annual premium |
| Death Benefit Options | 7x or 10x annual premium |
| Maturity Benefit | Sum assured plus guaranteed additions |
| Payout Choices | Lump sum or installments |
| Loan Facility | Available |
| Tax Benefits | Applicable as per tax laws |
Steps to Use the LIC Nav Jeevan Shree Plan 912 Calculator
The LIC Nav Jeevan Shree Plan 912 calculator is a useful online and offline tool that helps policy buyers estimate premium amounts and expected policy benefits. You can use it easily by following these simple steps:
- Enter Your Age: Provide your current age at the time of purchasing the policy.
- Choose the Policy Duration: Select a policy term ranging from 10 to 20 years.
- Select the Premium Payment Period: Pick a premium payment option of 6, 8, 10, or 12 years.
- Fill in the Sum Assured: Enter the desired coverage amount, starting from a minimum of ₹5,00,000.
- Pick the Premium Payment Mode: Usually, premiums are selected on a yearly basis.
- Calculate the Premium Amount: The calculator automatically estimates the premium based on the details entered.
- Check the Maturity Value: It displays the estimated maturity payout you may receive at the end of the policy term.
- Review Death Benefit Estimates: The tool also shows expected death benefit values according to the selected option.
Using this calculator helps users understand their premium commitments and expected returns in a quick and convenient manner.
Advantages of Using the LIC Nav Jeevan Shree Plan 912 Calculator
- Better Premium Understanding: Helps you know the approximate premium amount before purchasing the plan.
- Return Estimation: Gives an estimate of maturity benefits for better financial planning.
- Easy Comparison: Allows comparison of different policy terms and sum assured combinations.
- Customized Financial Planning: You can modify inputs to match your budget and future goals.
- Quick Results: Instant calculations save time and eliminate manual estimations.
Example of LIC Nav Jeevan Shree Plan 912 Calculator Usage
Suppose a 30-year-old individual plans to purchase the LIC Nav Jeevan Shree Plan 912 with the following details:
- Policy Term: 20 Years
- Premium Payment Term: 12 Years
- Sum Assured: ₹10,00,000
After entering these details into the calculator, the user can estimate:
- Annual premium amount payable
- Yearly guaranteed additions
- Expected maturity value at the end of the policy term
- Death benefit amount according to the selected option
- Future loan eligibility under the policy
This practical example helps buyers understand whether the plan matches their financial requirements before making a decision.
Important Things to Keep in Mind
- Suicide Provision: If the policyholder commits suicide within 12 months from policy commencement or revival, only 80% of the premiums paid may be refunded.
- Policy Revival Facility: A lapsed policy can be revived within the allowed conditions and timeframe.
- No Market-Linked Risk: Since the plan is non-linked, guaranteed additions are unaffected by market fluctuations.
- Taxation Rules: Tax benefits and liabilities depend on prevailing income tax regulations.
Ways to Purchase LIC Nav Jeevan Shree Plan 912
You can buy the LIC Nav Jeevan Shree Plan 912 through both online and offline methods:
- Offline Purchase: Visit nearby LIC branches or contact authorized LIC agents.
- Online Purchase: Buy directly through the official LIC India website or trusted authorized portals.
Always use official and verified sources while purchasing insurance plans to avoid fraudulent activities.
Frequently Asked Questions About LIC Nav Jeevan Shree Plan 912
What is LIC Nav Jeevan Shree Plan 912?
It is a limited premium, non-linked endowment insurance policy offered by Life Insurance Corporation of India that combines life protection with guaranteed savings and flexible premium payment options.
What is the minimum age required to buy this plan?
The minimum entry age for the policy is 30 days, making it available even for young children.
For how many years do premiums need to be paid?
Policyholders can select premium payment durations of 6, 8, 10, or 12 years based on their convenience.
What is the available policy term under this plan?
The policy duration can vary from 10 years to 20 years depending on the chosen premium payment option.
Is loan facility available in LIC Nav Jeevan Shree Plan 912?
Yes, policyholders can avail loan benefits against the policy after fulfilling the required conditions specified by LIC.
Final Thoughts
Selecting a suitable life insurance policy is an important step toward long-term financial security. LIC Nav Jeevan Shree Plan 912 provides a balanced combination of guaranteed savings and life insurance coverage with flexible policy and premium payment options. It can be a suitable choice for individuals who prefer to finish premium payments early while continuing to enjoy long-term financial protection.
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