LIC Nav Jeevan Shree (912): A Plain-Language Guide for Chennai Families

LIC’s Nav Jeevan Shree (Plan 912) is a non-participating, non-linked, limited premium life insurance plan. It combines life cover with guaranteed additions (GAs) defined in the policy wording — not market-linked units and not annual bonus declarations like a traditional participating endowment.

This guide explains the plan in everyday language for salaried families and professionals in Chennai. It is general information from an independent advisor. Premiums, sum assured, and benefits for your age and health can only be confirmed through an IRDAI-approved benefit illustration and the official sales brochure on LIC’s site.

Note: We do not host LIC brochures or personalised illustration PDFs on this website. Use the official links below. Any example numbers you may see elsewhere are illustrative for a specific profile — not a quote for everyone.

At a glance

Item	Summary
Plan type	Non-par, non-linked, individual savings with protection
UIN	512N387V02 (confirm current UIN on the official plan page)
Typical fit	Buyers who want defined GA rates in the document rather than discretionary bonuses
Minimum sum assured	₹5,00,000 (in multiples of ₹10,000 per brochure)
Premium payment terms	6, 8, 10, or 12 years (policy term varies with PPT — see brochure)
Official details	Plan page on licindia.in

Key features (from official product rules)

Protection and savings together

You choose how long you pay premiums (premium payment term) and how long the policy runs (policy term), within the combinations LIC allows for your age at entry.

Two “sum assured on death” options

You can select how death benefit is calculated — broadly, a multiple of annual premium (commonly 7× or 10× tabular annual premium) compared with the basic sum assured, subject to the 105% of total premiums paid floor stated in the policy. Exact wording is in the brochure and policy bond.

Guaranteed additions

GAs accrue as a percentage of the total tabular annual premium each policy year. LIC’s published materials cite a band of roughly 8.50% to 9.50% depending on term and option — the precise rate for your proposal appears only on your approved illustration.

Flexible maturity / death payout

You may be able to take maturity or death proceeds as a lump sum or in installments over 5, 10, or 15 years, if offered for your variant. This helps match cash flow to school fees, retirement, or family needs.

Optional riders

Accident benefit and other eligible riders can be added where permitted. Rider premiums and terms are separate from the base plan.

Loan facility

After acquiring surrender value per policy rules, a loan may be available — useful for liquidity, but it reduces death benefit if unpaid.

Who often considers this plan in Chennai

In consultations, Nav Jeevan Shree comes up when someone wants:

• Predictability — benefits tied to stated GA percentages rather than annual bonus announcements;
• A mid-to-long policy term with premiums finished in 6–12 years;
• Life cover during the earning years while building a maturity corpus;
• Non-linked simplicity — no equity/debt fund choice inside the policy.

It is usually not the first recommendation if you lack adequate pure term cover. Term insurance remains the most cost-efficient way to protect income; plans like Nav Jeevan Shree address savings and structured benefits after that foundation is in place.

What to verify before you sign

1. Approved benefit illustration for your age, smoking status, and sum assured.
2. Death benefit option (7× vs 10×) and how it compares with your existing policies.
3. Tax treatment under current Income Tax Act provisions — laws change; the brochure’s tax section is a starting point, not personalised tax advice.
4. Premium payment ability for the full PPT — lapsing early erodes value.
5. Official documents only — download from LIC, not from agent websites or email attachments unless they point to the same licindia.in URL.

Official LIC links (brochure & plan page)

• Plan details: licindia.in — Nav Jeevan Shree (912)
• Sales brochure (PDF on LIC servers): Official brochure

You can also browse all plans at LIC’s product catalog.

Related reading

• LIC FY 2025–26 results — what policyholders should know — corporate performance context, with source attribution
• Five LIC plans salaried employees often consider — broader 2026 comparison

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Premiums and benefits depend on underwriting, age, and the option selected. Guaranteed additions are contractual under this plan type; they are not the same as discretionary bonuses on participating policies.

For a personalised illustration walkthrough in Chennai (no obligation), contact +91 98841 10537 or use our contact form.