Key Features of LIC Nav Jeevan Shree (Plan 911)

Launch Date: 04/07/2025

Last Date to Buy: 31/03/2026

Type: Single Premium Endowment Plan

Guaranteed Additions: ₹85 per ₹1,000 Sum Assured (SA) annually.

Eligibility & Policy Terms

ParameterDetailsMin Entry    : Age 30 days (completed)

Max Entry Age                        : 60 years (Option 1), 40 years (Option 2)

Policy Term                               :   5 to 20 years

Min SA                                      :₹1,00,000 (multiples of ₹10,000 up to ₹2L, then ₹25,000)

Max SA No limit

Maturity Age                             :18–75 years (Option 1), 18–60 years (Option 2)

Death Benefit

Option 1                             : Higher of: 1.25 × Single Premium

Basic SA Option 2            : 10 × Single Premium

Plus                                    : Guaranteed Additions (GA) for elapsed policy years.

Example (Age 30, SA ₹5L, Term 20Y, Option 2):

Death at Age                     -39 (5th Year): ₹53.25L = [10×Premium (₹51.12L)] + [GA (₹2.12L for 5Y)]

Maturity Benefit              -Basic SA + Total GA

Example (Same Policy):

Maturity at Age 50             : ₹13.5L = ₹5L (SA) + ₹8.5L (GA for 20Y)

Premium & Rebates

High SA Rebate:

Option 1                            : Up to ₹89 per ₹1,000 SA (for SA ≥ ₹15L, 20Y term).

Option 2                            : Up to ₹83 per ₹1,000 SA.

Existing Policyholder Rebate: ₹4–₹7 (based on term)

Riders

Accidental Death & Disability (ADDB): Up to ₹1 Crore.

Term Rider                                              : Up to ₹25L (equal to Basic SA).

Special Rules

Transgenders           : Allowed only under Option 1 (standard age proof).

NRIs/FNIOs:

Group III & IV        : Allowed with extra premium.

Group V                     : No extra.

Minors/Students        : Max SA ₹2 Crore (standard lives).

Substandard Lives      : Restricted to certain risk classes.

Surrender & Loan

Surrender: Anytime during policy term.

Loan                 : Available after 3 months from policy issue.

Important Notes

Backdating      : Allowed (not before 04/07/2025). Interest charged.

Cooling-off Period: 30 days.

Proposal Forms: 300/340/360 + Addendum + Suitability Form.

Underwriting

Non-Medical Schemes: Allowed (including exclusive Group-I for single premium).

Pregnant Women: Only Category A1 (up to 24 weeks).