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

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.

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.

Also Read  LIC’s Jeevan Saathi Plus (ULIP Plan)

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

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

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