NAV Jeevan | New Plan | Table no 853

*LIC's NAV Jeevan*

Non linked SP Plan and 5 years Limited PPT Plan

Sum assured on death :
Two options
For ages less than 45 ;
Under SP: 10 times of tabular single premium
Under Ltd Ppt : 10 times of Annualised premium AP
For ages 45 and above :
Option 1: 10 times of AP
Option 2: 7 times of AP
Where SA on death is 10 times of SP/AP may be eligible for tax exemption under section 80CC and Sec 10(10D) of income tax
On maturity basic SA with loyalty addition
 Settlement option for death & maturity benefits
Min age at entry age :
1) SP : 90 days
2) Ltd PPT : 90 days under option 1
                      45 years under option 2
Maximum entry age :
SP :44years
Ltd Ppt : 60 years under option 1
                65 years under option 2
Max maturity age
SP: 62
Ltd ppt : 75 under option 1
                85 under option 2
Policy term 10-18 years
Minm SA. Rs 1lakh
Maxm SA no limit
Loan after 3 months under SP
Loan after two full years premiums are paid under ltd ppt

AB rider available
Settlement option available


*Likely launch date will be 18-3-2019*