LIC Launches New Jeevan Sathi Single Premium & Limited Premium Plans; Check Features, Death Benefits & Returns

India's largest life insurer, Life Insurance Corporation of India (LIC), has expanded its savings and protection portfolio with the launch of two new joint-life insurance products aimed at couples seeking stable long-term financial security. The newly introduced plans; LIC's New Jeevan Sathi Single Premium and LIC's New Jeevan Sathi Limited Premium.

LIC Launches New Jeevan Sathi Single Premium And Limited Premium Plans With Guaranteed Benefits

Both New Jeevan Sathi policies are structured as joint-life endowment plans, allowing spouses to remain covered under a single insurance contract instead of maintaining separate policies. The plans combine savings accumulation with life insurance protection while also offering guaranteed additions during the policy tenure.

LIC Introduces Joint-Life Savings Plans For Couples

Policyholders can choose between a single premium payment option or a limited premium structure depending on their financial preferences and cash-flow planning. The products also provide flexibility in receiving payouts, allowing couples to opt for instalment-based maturity or death benefit payments instead of lump-sum settlement.

In addition, both policies offer loan facilities during the policy term, providing liquidity support in case of emergencies or unforeseen financial needs.

The Limited Premium variant allows policyholders to pay premiums only for a specified duration while enjoying coverage for a longer policy term. LIC says the plan is aimed at individuals looking to complete premium commitments early while continuing long-term protection and savings accumulation.

LIC New Jeevan Sathi Plans Offer Fixed Returns, Life Cover And Loan Facility

One of the key features of this policy is the premium waiver benefit. In the event of the first death during the premium-paying period, future premiums are waived while policy benefits continue.

The policy also provides guaranteed additions equivalent to 7 percent of the total tabular annual premium for premiums payable throughout the policy term. Investors can choose both the premium payment period and the total duration of the policy, allowing customisation based on age, income stability and long-term goals.

Death Benefit Options Under LIC Jeevan Sathi Plans

LIC has provided multiple death benefit structures across both plans, allowing policyholders to select the level of protection suitable for their financial needs.

Under the Limited Premium version:

• Option I offers the higher of seven times the tabular annual premium or the basic sum assured as the death benefit.
• Option II provides a death cover equal to ten times the tabular single premium.

For the Single Premium version:

• Option I pays the higher of 1.25 times the tabular single premium or the basic sum assured.
• Option II provides a death benefit equal to ten times the tabular single premium.

The selected option must be chosen at the proposal stage and remains subject to LIC's eligibility conditions.

LIC New Jeevan Sathi Single Premium Plan: Key Features

The Single Premium variant is designed for investors who prefer making a one-time payment rather than committing to recurring premiums over several years.

Under this plan, the entire premium is paid upfront at the start of the policy, while guaranteed additions continue to accrue during the full policy term. LIC has fixed guaranteed additions at Rs 70 for every Rs 1,000 of basic sum assured throughout the tenure.

The insurer has also included incentives such as high sum assured rebates and additional concessions for existing LIC policyholders, nominees and beneficiaries of deceased policyholders.

Because the policy is non-participating, returns remain fixed and are not affected by changes in LIC's future profits, bonus declarations or investment performance.

Additional Benefits And Rider Options Under LIC Jeevan Bima

Both LIC New Jeevan Sathi plans allow customers to enhance protection through optional rider benefits available at additional premium costs. These riders can provide supplementary coverage against specific risks beyond the base life insurance component.

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