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Key Features of LIC New Jeevan Nidhi :

• This plan offers Guaranteed Additions of Rs.50 per thousand Sum Assured for each completed year, for the first five years
• Upon Vesting, there are 2 Vesting Options available to the life insured :

He may choose to withdraw 1/3rd of the corpus tax free and avail annuity from the remaining 2/3rd of the corpus or take annuity from the entire corpus
He may choose to purchase a single premium Deferred Annuity Plan

• Maturity Benefit is Maturity Sum Assured + Guaranteed additions + Accured Bonus + Final Additions, if any.

LIC New Jeevan Nidhi Eligibility Conditions :



Sum Assured (in Rs.) 1,00,000 for Regular Premium
1,50,000 for Single Premium
No Limit
Policy Term (in years) 35
Premium Payment Term(in years) Single Till vesting Age
Entry Age of Policyholder 20 58
Age at Vesting 55 65
Payment modes Single, Yearly, Half-yearly, Quarterly, Monthly and SSS

Returns of LIC New Jeevan Nidhi :

Maturity Return - The corpus generated with the Sum Assured, Accured Bonus and Final Additional Bonus  will be used to generate a Pension at the end of the Accumulation Period (Policy Term). Pension will be paid to the Life Insured till the end of his life time. After their demise, a lumpsum would be provided to their nominee and the policy ceases.

Death Benefit – On the death of the life insured before policy maturity, Sum assured with Bonus will be paid.  On death after the accumulation period, a lumpsum (Sum Assured + Guaranteed Additions + Accured Bonus + Final Additional Bonus, if any) would be provided to their nominee.

Income Tax Benefit – Available under Section 80 C for premiums paid and Section 10 (10D) for Maturity returns
Loan on Policy - Not Available
Housing Loan Surity- Not Available

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Policy Term (Yrs)
Double Accident Benefit



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LIC New Jeevan Nidhi (Pension Plan)

LIC NEW JEEVAN NIDHI (Table 818) is a regulare premium pension plan. Premium needs to be paid till the end of the accumulation period. At the end of the accumulation period, the maturity comprising of the sum assured , accured bonus and the final additional bonus will be converted into pension.

After the end of the accumulation period, the vesting period starts in which pension will be paid out in regular intervals till the end of life for the life insured.

After the expiry of the life insured, a lumpsum will be paid to the nominee.

Service Tax is applicable on the premium paid for this policy, at the rate of 4.5% for the 1st year premium and 2.25% from 2nd year onwards.