LIC launches New Jeevan Sathi Single Premium plan; check death cover, benefits and key features

Life Insurance Corporation of India (LIC) has introduced two new joint life insurance savings plans, LIC’s New Jeevan Sathi Single Premium and LIC’s New Jeevan Sathi Limited Premium. These plans are aimed at couples seeking both long-term savings and financial protection under a single insurance policy.

LIC’s New Jeevan Sathi Single Premium is a joint life endowment savings plan where the premium is paid only once at the beginning of the policy.

The plan offers life cover for both husband and wife under one policy as well as guaranteed additions throughout the policy term. Since it is a non-par product, the maturity and death benefits remain fixed irrespective of LIC’s future profits or surplus.

• One-time premium payment facility
• Joint life insurance coverage for married couples
• Guaranteed additions of Rs 70 for every Rs 1,000 basic sum assured every year
• Flexibility to choose policy term
• Option to receive maturity or death benefits in instalments
• Attractive rebate for higher sum assured
• Special rebate for existing LIC policyholders and nominees
• Loan facility available for meeting liquidity needs
• Option to enhance coverage through rider benefits on additional premium

The plan offers two death benefit options that the primary life assured can choose at the proposal stage.
Option I: Higher of 1.25 times the tabular single premium or the basic sum assured.
Option II: 10 times the tabular single premium.
This flexibility allows policyholders to choose a cover amount based on their financial goals and protection requirements.

Customers can buy LIC’s New Jeevan Sathi plans through multiple channels including:

• LIC agents
• Corporate agents
• Insurance brokers
• Insurance marketing firms
• LIC’s official website

The online purchase facility gives customers the convenience of buying the policy directly without visiting a branch office