LIC

Jeevan Nischay

LIC Jeevan Nischay Summary: (Table No.199)
Jeevan Nischay is a close-ended single premium policy with guaranteed maturity benefits exclusively for existing LIC policyholders.

Advantages of Jeevan Nishchay:

  • Single-Premium policy.
  • Guaranteed Maturity benefits with the provision of loyalty additions.
  • The plan is exclusively for LIC policyholders.
  • Wide range of policy terms options.
  • Assured maturity benefits (Guaranteed Return + Loyalty Additions)

Assured maturity benefits equal to the Maturity Sum Assured are pre-defined. The specimen Maturity Sum Assured per Rs. 1000/- single premium is given below for some ages and terms:

Age5 Years Plan7 Years Plan10 Years Plan
30125614091715
40124914001699
50122613691645

In addition to the assured maturity benefits, there is a provision for loyalty additions. Depending upon the LIC’s experience, the policy will be eligible for Loyalty Addition on death during the last policy year or on the Life Assured surviving the stipulated date of maturity at such rate and on such terms as may be declared by the LIC.

Death benefit:
The death benefit under Jeevan Nishchay policy is equal to five times the single premium if death is within the first year of taking the policy. In case of death in subsequent years, the death benefit is equal to the maturity sum assured. In case of the death in the last year of the policy, the death benefit is equal to the maturity sum assured with declared loyalty additions, if any.

Minimum Investment:
Minimum One Time Premium under Jeevan Nischay is Rs.10,000/- However, if the premium amount is Rs. 25,000 or more, the policyholder will receive a higher maturity sum assured due to available incentive.

Loans:
A loan facility will be available under this plan after the policy. The rate of interest charged for this loan amount would be determined from time to time by the LIC Of India.

Surrender:
The policyholder can surrender the policy after one year of commencement of the policy.

Eligibility Conditions and Restrictions for Jeevan Nischay:

Minimum age at entry : 18 years (completed)
Maximum age at entry : 50 years (nearest birthday)
Policy term : 5, 7 and 10 years
Minimum Single Premium : Rs. 10,000/-
Maximum Single Premium : Rs. 10,00,000/- (Premium shall be in multiples of Rs.1,000/-)
Maximum Basic Sum Assured (First Year Death Benefit) :
Lower of- Rs. 50,00,000, and 50% of total Sum Assured (total death benefit) under all existing in-force policies

Cooling off period:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to Life Insurance Corporation Of India within 15 days.

The Unique Identification No. of Jeevan Nischay is 512N258V01

Note:
The above is the product summary giving the key features of the Insurance plan. This is for illustrative purposes only. This does not represent a contract and for details please refer to your policy document.

Update: Jeevan Nischay Table No.199 has been withdrawn, please check out other similar plans.

28 thoughts on “Jeevan Nischay”

  1. supradip chakraborty

    i have invested 50000/- in the year 2010. i need money due to urgent domestic need. how much iwill get.

  2. I had invested INR50000/- in Jivan Nischay policy (10 years) in middle of 2010 and due to my emergencies I had surrendered that policy in March.2014, I have received only INR53444/-, also I want to inform you, I had same amount in Bank FD for same time period(10 years) and on surrender that FD I have received INR67000/- (approx).
    So I will suggest do not go for LIC, in emergency it will not help us, but Bank FD will help us a lot.

  3. nirupam chatterjee

    Dear sir,

    i had invested Rs 20000/- for LIC JEEVAN NICHAY POLICY on 28.03.2010.. but now urgnetly required for that money for my emergency purpose. If I surrender my policy then how much amount will I get?

    pl help me..

  4. vinalkumar s patel

    i want to take policy primium -90,000rps which single primium policy of sort term suitable for me i will take policy for income tax benifit so suggest policy for incometex only

  5. Dear sir,

    i had invested Rs 10000/- for LIC JEEVAN NICHAY POLICY on 26.03.2010.. but now urgnetly required for that money for my emergency purpose.so what is the procedure of surrender this policy…and what is the required documents for the purpose surrender the policy.

    pl help me..

  6. I would like to present one lic policy for my husband whose date of birth is 20 Dec 1958.Policy should be with low premium (12000)yrly,time period max 15yrs,advise me which is good plan.

  7. i am 37 year old i want to invest 150000 as a singal premium which plant is good for me and how much i get after 10 or 15 years

  8. ambika prasad banerjee

    if i invest Rs. 100000 in jeevan nischay plan , how much i will get after 5 years, 7 years, and 10 years?

  9. To,

    Sir

    Plz. tell me ( wealth plus )
    Age 30 year (date of birth 01/03/1980)
    * when single premium is 40000/= deposited for 8 year then the maturity amount=?

    * Plz tell me closing date?

  10. To,

    Sir

    Plz. tell me
    Age 30 year (date of birth 01/03/1980)
    * when single premium is 10000/= deposited for 10 year then the maturity amount=?

    * Plz tell me closing date?

  11. Dear sir,
    I want to invest Rs.20,000 in Jeevan Nishchay for 5 years, what will I get after five year.

  12. which policy is best for single premium .
    1. Bima bachat
    2. Jeevan nischay

    and if I want to invest Rs.100000 in jeevan Nishchay for 5 years, what will I get after five year

  13. BHAJAN SINGH JASSAL

    Dear sir,
    I want to invest Rs.100000 in Veevan Nishchay for 5 years, what will I get after five year

  14. Dear Sir
    I want to invest 25 thousand money in Single Premium Insurance Policy for the period of 5 years. Can you suggest me please which policy is advisable .
    Regards
    Pullarao

  15. Dear Sir
    I want to invest some money in Single Premium Insurance Policy for the period of 5 years.Can you suggest me please which policy is advisable .
    Regards
    Praveen

  16. can i see regarding our policy in my mail which policies have already taken.If any other processor please tell me.with thanks.

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