Endowment plans
LIC's New Jeevan Sathi - Single Premium
LIC classifies this as: A Non-Par, Non-Linked, Life, Individual, Savings Plan
- Plan number
- 888
- UIN
- 512N393V01
- Insurer
- Life Insurance Corporation of India
Eligibility
- Minimum age at entry
- 18 years (Completed) (for
- Minimum basic sum assured
- ₹ 3,00,000
Estimate the annual premium
Based on the sample illustrative premiums LIC publishes in this plan's brochure for a standard life.
LIC's brochure does not publish a sample premium for this age and term together, so there is no figure to show. Ask us and we will get the exact premium from LIC.
What this figure is, and is not
It is LIC's own published illustrative premium for a standard life, scaled in proportion to sum assured.
It is not a quotation. Your actual premium depends on underwriting — your health, occupation and habits — and on the premium paying term and mode you choose. Taxes are not included.
Ages and terms are limited to the combinations LIC actually publishes. We do not interpolate between them, because a premium rate is not a straight line and a made-up figure would be worse than none.
How this plan plays out over time
LIC's own worked example from the plan's brochure — not our calculation.
- Term 20 yearsSum assured ₹10,00,000
| End of year | Single Premium2 | Guaranteed Benefits Guaranteed Addition | Maturity Benefit | Death Benefit payable on first death3 |
|---|---|---|---|---|
| 1 | ₹17,62,250 | ₹70,000 | ₹0 | ₹1,78,82,500 |
| 2 | ₹0 | ₹1,40,000 | ₹0 | ₹1,78,82,500 |
| 3 | ₹0 | ₹2,10,000 | ₹0 | ₹1,78,82,500 |
| 4 | ₹0 | ₹2,80,000 | ₹0 | ₹1,78,82,500 |
| 5 | ₹0 | ₹3,50,000 | ₹0 | ₹1,78,82,500 |
What this is, and is not
LIC's own illustration for a standard life with no riders, at LIC's assumed (not promised) rates of return. Not a projection of what any actual policy will pay.
What the policy document says
Taken from LIC's official brochure for this plan. The wording is LIC's.
Death benefitShow
Two options for “Sum Assured on Death” are available under the product. The Primary Life Assured has to choose one of the below mentioned options at the proposal stage itself subject to the eligibility conditions 3 as mentioned in Para 2 above. Options Sum Assured on Death Option I Higher of • 1.25 times of Tabular Single Premium: or • Basic Sum Assured Option II 10 times of Tabular Single Premium Note: 'Tabular Single Premium' shall be the premium for the chosen “Sum Assured on Death” Option and Basic Sum Assured based on the ages of the Primary Life Assured and Secondary Life Assured before allowing for any rebate or loadings or any underwriting extra and does not include any taxes and Rider Premium(s), if any. The options should be chosen carefully depending on your specific needs, as the premium & benefits under the plan shall vary as per the option chosen and the same shall not be altered later. The Death Benefit payable under the plan is as detailed below: i. On first death during the Policy Term: Death Benefit payable on first death during the Policy Term after the date of commencement of risk but before the date of Maturity shall be equal to “Sum Assured on Death” and the policy shall continue on the life of surviving Life Assured. ii. On second death during the Policy Term: Death Benefit payable on second death during the Policy Term after the date of commencement of r
Maturity benefitShow
On survival of at least one of the lives assured to the stipulated Date of Maturity, “Sum Assured on Maturity” along with accrued Guaranteed Additions, shall be payable; where “Sum Assured on Maturity” is equal to the Basic Sum Assured.
Riders available on this plan
- LIC's Accidental Death and Disability Benefit RiderUIN 512B209V02
- LIC's New Term Assurance RiderUIN 512B210V02
Want the exact figures for your age?
Send your age, the cover you have in mind and the term. You will get the actual premium from LIC's official system — and an honest view on whether this is the right plan for what you are trying to do.