LIC Nav Jeevan Shree Plan 912

Best LIC Nav Jeevan Shree Plan 912 Details | Ashuram Modi Bhadra

In today's fast-paced world, balancing your current responsibilities while securing your family's long-term financial future is a major priority. Whether you are planning for your child's higher education, preparing for a peaceful retirement, or simply looking to build a reliable financial safety net, having a predictable and secure life insurance policy is essential. Welcome to Ashuram Insurance Expert!

I am Ashuram Modi, your dedicated local wealth planner and trusted LIC advisor. Proudly serving the community since 1990 near Ambedkar Chowk on Main Bus Stand Road, Bhadra (335501), I have dedicated my career to helping families make informed, secure financial decisions. Today, we are going to explore a highly dependable policy designed to meet your diverse savings goals—the LIC Nav Jeevan Shree Plan No. 912.

Whether you are looking to open a new policy right here in Bhadra, or you reside in nearby areas like Dobhi or Bhojasar and need honest, professional guidance, this comprehensive guide will explain everything you need to know about the features, benefits, and structure of this excellent endowment plan.

What is LIC Nav Jeevan Shree Plan 912?

LIC's Nav Jeevan Shree (UIN: 512N387V02) is a Non-Par, Non-Linked, Life, Individual, Savings plan. To put this in practical terms:

• Non-Linked: Your invested money is not tied to the stock market. You are completely shielded from market volatility and economic downturns.
• Non-Participating: The benefits payable upon death or survival are guaranteed and fixed right from the start, irrespective of the corporation's actual market experience. The policy is not dependent on discretionary benefits like bonuses or a share in surplus profits.

Instead of variable returns, this is a Limited Premium Endowment plan that facilitates the accumulation of a secure corpus through fixed Guaranteed Additions. It provides financial protection to your family in case of an unfortunate event while ensuring a guaranteed lump-sum payout if you survive the policy term.

Key Features of LIC Nav Jeevan Shree

When families visit our office to discuss financial planning, we always highlight the practical features that make this plan a strong choice:

• Dual Benefit: The plan seamlessly blends reliable family protection (life cover) with long-term guaranteed savings.
• Guaranteed Additions: Your policy accrues fixed additions at the end of every policy year.
• Limited Premium Payment Term: You do not have to pay premiums for the entire duration of the policy. The plan offers attractive Premium Payment Terms (PPT) of 6, 8, 10, 12, or 15 years.
• Flexible Policy Terms: You can choose the period for which protection is required, ranging from 10 to 20 years, depending on your selected premium payment term.
• Customizable Risk Cover: You have the flexibility to choose your life cover from two different "Sum Assured on Death" options based on your family's specific needs at inception.
• Instalment Options: You can opt to receive the Maturity or Death benefit in convenient instalments rather than a single lump sum, ensuring a steady income stream.

Eligibility Conditions and Restrictions

Before setting up your policy, it is important to understand the eligibility criteria. LIC has designed this plan to be highly inclusive, catering to newborns and adults alike:

• Premium Payment Terms (PPT): 6, 8, 10, 12, and 15 years.
• Policy Term Options:
  • 10 to 20 years (for PPT 6 years)
  • 15 to 20 years (for PPT 8 and 10 years)
  • 16 to 20 years (for PPT 12 years)
  • 18 to 20 years (for PPT 15 years)

Risk Commencement for Minors: If the policy is purchased for a child below 8 years of age, the life insurance risk will commence either 2 years from the date of policy commencement or from the policy anniversary following the attainment of 8 years of age, whichever is earlier. For children aged 8 years or older, the risk commences immediately upon policy issuance.

Comprehensive Benefits Under LIC Nav Jeevan Shree

Understanding the exact financial payout is critical when selecting an insurance plan. Here is a detailed, practical breakdown of the benefits payable under an in-force policy:

Settlement Options: Managing Your Payouts

LIC Nav Jeevan Shree offers excellent flexibility in how you or your family receive the final funds.

Maturity and Death Benefit Instalments:
Instead of taking the maturity or death benefit in a single lump sum, you can choose to receive the funds in regular instalments over a period of 5, 10, or 15 years. You can receive these instalments yearly, half-yearly, quarterly, or monthly.

These instalments include a steady interest component calculated based on the annual effective rate not lower than the 10-year semi-annual G-Sec yield minus 2%. For example, for instalment options commencing during the 12-month period from May 1, 2025, to April 30, 2026, the applicable interest rate used for calculation is 4.62% p.a. effective. This ensures your family receives a practical, manageable monthly or yearly income rather than a sudden large lump sum.

Flexible Premium Payment and Grace Period

You have multiple options to pay your premiums: yearly, half-yearly, quarterly, or monthly (monthly through NACH auto-debit only).

If you choose the yearly mode, you benefit from a premium conversion factor that makes it more cost-effective than paying monthly.

Grace Period: A grace period of 30 days is allowed for yearly, half-yearly, or quarterly premium payments, and 15 days for monthly payments. During this grace period, your life insurance risk cover remains fully active. If a premium is not paid before the grace period expires, the policy will lapse.

Maximize Protection with Optional Riders

To create a comprehensive safety net, you can enhance your base policy by adding optional riders for a nominal additional premium:

• LIC's Accidental Death and Disability Benefit Rider: Provides an additional lump sum in case of accidental death. In case of accidental disability, it waives future premiums and provides a monthly income for 10 years.
• LIC's Accident Benefit Rider: Provides an additional lump sum purely in the event of death due to an accident.
• LIC's New Term Assurance Rider: Offers an extra layer of life cover during the policy term.
• LIC's Premium Waiver Benefit Rider: Highly recommended for policies bought for minors. If the parent (proposer) passes away, all future premiums are waived, ensuring the child's maturity benefit remains intact.

Policy Loan, Surrender, and Paid-up Value

Life is unpredictable, and this plan offers structural flexibility to help you manage financial emergencies:

• Policy Loan: You can easily avail of a loan against your policy after the completion of the first policy year, provided at least one full year's premium has been paid. For in-force policies, the maximum loan allowed is up to 50% of the surrender value before the payment of two full years' premiums, and up to 80% of the surrender value after two full years' premiums are paid.
• Surrender: You can surrender the policy after completing one full policy year. The corporation pays a surrender value that is the higher of the Guaranteed Surrender Value (GSV) or the Special Surrender Value (SSV).
• Paid-Up Value: If you have paid at least one full year's premium but cannot pay future premiums, your policy will convert into a "Paid-up" policy. The Sum Assured will be reduced proportionately, and the policy will continue to earn proportionate Guaranteed Additions.

Purchases through POSP-LI & Special Conditions

If you choose to purchase this plan through a Point of Sales Person (POSP-LI) or CPSC-SPV, specific regulatory restrictions apply:

• The maximum Age at Maturity is restricted to 65 years.
• The maximum Sum Assured on Death is capped at Rs. 25 Lakhs.
• Optional Rider benefits are not available.
• Waiting Period: A 90-day waiting period applies. If the life assured passes away due to non-accidental reasons within the first 90 days from the date of commencement of risk, the corporation will only refund the total premiums paid.

Nav Jeevan Shree vs Other LIC Plans

How does this plan compare to others in the market? Unlike standard participating endowment plans that rely on variable annual bonuses based on LIC's corporate profits, Nav Jeevan Shree offers purely fixed Guaranteed Additions. This makes it highly predictable. It operates similarly to the popular LIC Bima Jyoti plan, but with the added structural advantage of tiered base rates and unique percentage incentives for higher sum assured amounts and existing policyholder loyalty.

Who Should Buy This Plan?

The LIC Nav Jeevan Shree policy is an exceptionally practical choice for:

• Parents: Looking to secure their child’s higher education or marriage with a guaranteed, non-market-linked timeline.
• Young Professionals: Seeking to build a disciplined, long-term savings habit with the convenience of shorter premium payment terms.
• Conservative Planners: Individuals wanting to park a portion of their wealth in a market-risk-free and predictable, reliable asset to diversify their financial portfolio against economic volatility.

Dedicated Services Available in Dobhi and Bhojasar

While our primary office is located in Bhadra (335501), Ashuram Insurance Expert provides dedicated, doorstep financial services to surrounding regions. If you reside in Dobhi or Bhojasar, you do not need to travel far for expert advice.

We offer personalized consultations, authorized premium collection, assistance with address and nomination updates, and complete, hassle-free claim settlement support right in your local area. Our goal is to make life insurance simple and accessible for every household in our district. If you are looking to explore other endowment options or require assistance with your existing portfolio, we are just a call away.

Why Choose Ashuram Insurance Expert?

When you invest in a long-term plan like LIC Nav Jeevan Shree, you are entering a commitment that lasts for decades. You need an advisor who will be there for you every step of the way.

• Trusted Experience: Serving the local community since 1990, providing over three decades of practical, honest LIC expertise.
• Accurate Guidance: We believe in 100% transparent policy calculations, ensuring you understand exactly what you are paying and what your family is guaranteed to receive.
• End-to-End Support: From helping you fill out the initial proposal form to processing maturity and death claims decades later, we stand firmly by your side.
• Local Convenience: Easily accessible office located at Main Bus Stand Road, near Ambedkar Chowk, Bhadra.

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