LIC Nav Jeevan Shree Calculator: Plan 912 HNI Guide
Building long-term generational wealth and securing substantial life insurance protection requires a disciplined, high-value investment structure. LIC Nav Jeevan Shree (Plan No. 912 / 162) is a non-linked, participating, limited-pay endowment plan introduced by the Life Insurance Corporation of India (LIC). Tailored specifically for High Net Worth Individuals (HNIs), business owners, and corporate executives, it offers a minimum Basic Sum Assured of **₹5,00,000 (5 Lakhs)**, short **Premium Paying Terms (6, 10, 15, or 20 years)**, contractual Guaranteed Additions for the first 5 years, and annual participating bonuses thereafter.
Our free online LIC Nav Jeevan Shree Calculator empowers investors and financial planners to calculate exact limited pay premiums, project 5-year Guaranteed Additions, compute vested Reversionary Bonuses and Final Additional Bonus (FAB), and estimate total maturity wealth.
What is LIC Nav Jeevan Shree (Plan 912)?
LIC Nav Jeevan Shree is a premium HNI endowment policy offering dual return streams:
- High Sum Assured Threshold: Starts at a minimum Basic Sum Assured of ₹5,00,000 (5 Lakhs) with substantial high SA premium rebates.
- Short Limited Pay Windows: Pay premiums for short durations (6, 10, 15, or 20 years) while enjoying life cover and bonus growth for up to 25 years.
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Dual Return Mechanism:
- Years 1 to 5: Contractual Guaranteed Additions of ₹50 per ₹1,000 Sum Assured per year.
- Years 6 to Maturity: Participates in LIC's annual Simple Reversionary Bonuses + Final Additional Bonus (FAB).
- 100% Tax-Free Maturity: Entire maturity corpus (Sum Assured + GA + Bonuses + FAB) is 100% tax-free under Section 10(10D).
Policy Term, PPT, and Bonus Structure Matrix
| Policy Term | PPT (Limited Pay) | Guaranteed Additions (Yrs 1-5) | Participating Bonus Phase (Yrs 6+) | Maturity Payout Formula |
|---|---|---|---|---|
| 10 Years | 6 Years | ₹50 per ₹1,000 SA / yr | Simple Reversionary Bonus + FAB | SA + 5-Yr GA + Vested Bonus + FAB |
| 15 Years | 10 Years | ₹50 per ₹1,000 SA / yr | Simple Reversionary Bonus + FAB | SA + 5-Yr GA + Vested Bonus + FAB |
| 20 Years | 10 or 15 Years | ₹50 per ₹1,000 SA / yr | Simple Reversionary Bonus + FAB | SA + 5-Yr GA + Vested Bonus + FAB |
| 25 Years | 15 or 20 Years | ₹50 per ₹1,000 SA / yr | Simple Reversionary Bonus + FAB | SA + 5-Yr GA + Vested Bonus + FAB |
Key Policy Eligibility Criteria
| Parameter | Official LIC Guidelines (Plan 912) |
|---|---|
| Minimum Entry Age | 18 Years (Completed) |
| Maximum Entry Age | 60 Years (Near Birthday) |
| Maximum Maturity Age | 75 Years |
| Minimum Basic Sum Assured | ₹5,00,000 (5 Lakhs) |
| Maximum Basic Sum Assured | No Upper Ceiling |
| Premium Paying Terms (PPT) | 6 Years, 10 Years, 15 Years, 20 Years (or Single Pay) |
High Sum Assured Rebates Breakdown
HNIs investing in larger policy sizes benefit from attractive premium discount rebates:
| Basic Sum Assured Slab | Premium Rebate per ₹1,000 Sum Assured |
|---|---|
| ₹5,00,000 to ₹9,99,999 | Nil (Base Rate) |
| ₹10,00,000 to ₹24,99,999 | ₹3.00 per ₹1,000 SA |
| ₹25,00,000 to ₹49,99,999 | ₹4.50 per ₹1,000 SA |
| ₹50,00,000 and Above | ₹6.00 per ₹1,000 SA (Maximum Rebate) |
How the LIC Nav Jeevan Shree Calculator Works
The LIC Nav Jeevan Shree Calculator computes premium installments and maturity payouts using exact actuarial parameters:
- Base Rate Calculation: Computes base premium rate according to age, policy term (10 to 25 yrs), and PPT.
- High SA Rebate Adjustment: Applies high SA rebates (up to ₹6.0 per ₹1,000 SA for SA >= ₹50 Lakhs).
- Guaranteed Addition (Yrs 1-5): Multiplies ₹50 per ₹1,000 SA by 5 policy years.
- Bonus Accumulation (Yrs 6+): Projects simple reversionary bonuses (~₹45/1k SA/yr) and Final Additional Bonus (FAB).
Worked Financial Example & HNI Wealth Projection
Consider a 35-year-old HNI purchasing **₹10,00,000 (10 Lakhs) Basic Sum Assured** under a **20-Year Policy Term (10-Yr PPT)**:
| Policy Component / Milestone | Financial Details & Maturity Projections |
|---|---|
| Basic Sum Assured | ₹10,00,000 (10 Lakhs Life Cover) |
| Premium Paying Term (PPT) | 10 Years (Pay from Age 35 to Age 44) |
| Policy Term | 20 Years (Covered from Age 35 to Age 55) |
| Approx. Annual Premium (incl. GST) | ~₹78,500 / year |
| Total Premiums Paid (10 Yrs Outflow) | ₹7,85,00,0 (Approx ₹7.85 Lakhs) |
| 5-Year Guaranteed Additions (₹50/1k SA × 5 Yrs) | ₹2,50,000 |
| Simple Reversionary Bonus (Yrs 6-20 @ ₹45/1k) | ₹6,75,000 |
| Final Additional Bonus (FAB @ ₹250/1k) | ₹2,50,000 |
| Total Guaranteed & Bonus Maturity Corpus (Age 55) | ₹21,75,00,0 (21.75 Lakhs — Over 2.7x Total Premiums Paid!) |
Strategic Comparison: LIC Nav Jeevan Shree (912) vs LIC Jeevan Labh (936)
| Comparison Parameter | LIC Nav Jeevan Shree (Plan 912) | LIC Jeevan Labh (Plan 936) |
|---|---|---|
| Minimum Sum Assured | ₹5,00,000 (HNI Segment) | ₹2,00,000 (Retail Segment) |
| Guaranteed Additions | Fixed ₹50/1k SA during first 5 Yrs | No Guaranteed Additions |
| Participating Bonuses | Reversionary Bonus + FAB from Year 6 | Reversionary Bonus + FAB from Year 1 |
| Shortest PPT Option | 6 Years PPT | 10 Years PPT |
Tax Exemptions under Section 80C & Section 10(10D)
- Section 80C Tax Deduction: Annual premiums paid qualify for income tax deduction up to ₹1,50,000 per financial year.
- Section 10(10D) Tax-Free Maturity: The full ₹21.75 Lakhs+ maturity corpus and death claim proceeds are 100% tax-free.
How to Use the LIC Nav Jeevan Shree Calculator
- Select Payment Mode: Choose Limited Premium Pay (6, 10, 15, 20 Yrs) or Single Premium Pay.
- Select Policy Term: Pick a term from 10 to 25 years.
- Set Proposer Entry Age: Input age (18 to 60 years).
- Enter Basic Sum Assured: Specify sum assured (min ₹5,00,000).
- Select Payment Frequency: Choose Yearly, Half-Yearly, Quarterly, or Monthly.
Frequently Asked Questions (FAQs)
What is LIC Nav Jeevan Shree Plan 912?
LIC Nav Jeevan Shree (Plan 912) is a non-linked, participating, high sum assured limited-pay endowment plan. Designed for HNIs and business owners, it features minimum Sum Assured of ₹5 Lakhs, short PPTs (6, 10, 15, 20 yrs), Guaranteed Additions for the first 5 years, and annual reversionary bonuses plus FAB thereafter.
What Premium Payment Term (PPT) options are available?
Under Limited Premium Pay, policyholders can choose short PPTs of 6 Years, 10 Years, 15 Years, or 20 Years. Alternatively, a Single Premium lump sum option is available.
How do Guaranteed Additions and Bonuses work in Plan 912?
Fixed Guaranteed Additions of ₹50 per ₹1,000 Basic Sum Assured per year accrue for the first 5 policy years. From Year 6 until maturity, the policy participates in LIC's annual Simple Reversionary Bonuses and Final Additional Bonus (FAB).
What is the Minimum Sum Assured under Nav Jeevan Shree?
The Minimum Basic Sum Assured is ₹5,00,000 (5 Lakhs). There is no maximum limit on Sum Assured, and attractive high Sum Assured rebates apply for policies above ₹10 Lakhs.
What entry ages and policy terms are allowed?
Entry age ranges from 18 to 60 years. Policy terms range from 10 to 25 years, with a maximum maturity age limit of 75 years.
Are maturity returns and death benefits tax-free?
Yes, the full maturity lump sum (Sum Assured + GA + Vested Bonuses + FAB) and death claim proceeds are 100% tax-free under Section 10(10D). Annual premiums paid qualify for tax deductions under Section 80C.