The Life Insurance Corporation of India (LIC) has launched two new insurance plans for married couples — New Jeevan Sathi Single Premium and New Jeevan Sathi Limited Premium.
Both policies are joint life insurance plans that offer guaranteed benefits and fixed returns.
These plans are designed to provide financial protection and savings for couples under a single policy.
Here’s a simple breakdown of both newly launched LIC policies.
What Is LIC New Jeevan Sathi Single Premium Plan?
LIC’s New Jeevan Sathi Single Premium is a one-time payment insurance plan for married couples.
Under this policy:
One spouse becomes the primary life assured
The other spouse becomes the secondary life assured
Both are covered under a single policy
The primary policyholder manages the policy initially.
If the primary insured person passes away, the spouse automatically becomes the policyholder.
Key Features Of LIC New Jeevan Sathi Single Premium
This policy offers guaranteed and fixed benefits, meaning returns do not depend on market performance or bonuses.
Main Highlights
One-time premium payment only
Guaranteed additions of ₹70 per ₹1,000 basic sum assured
Loan facility available
Option to receive maturity amount in installments
Additional rider benefits available with extra premium
Available both online and offline
Death Benefit Options
Policyholders can choose between two coverage options:
Option I: Higher of 1.25 times single premium or basic sum assured
Option II: 10 times of single premium
Policy Term
10, 15, 20, and 25 years under Option I
10 and 15 years under Option II
Sum Assured
Minimum: ₹3 lakh
No fixed maximum limit
Sum assured available in multiples of ₹25,000
What Is LIC New Jeevan Sathi Limited Premium Plan?
The Limited Premium version works differently from the single premium plan.
Instead of paying the full amount once, policyholders can pay premiums for a limited number of years while continuing to enjoy long-term coverage.
This policy also combines savings and life protection for married couples under one plan.
Key Features Of LIC New Jeevan Sathi Limited Premium
Like the single premium version, this policy also offers guaranteed benefits and fixed returns.
Main Benefits
Joint life coverage for husband and wife
Guaranteed additions of 7% of annual premium
Loan facility available
Flexible premium payment options
Installment option for maturity benefits
Available online and offline
Death Benefit Options
Option I: Higher of 7 times annual premium or basic sum assured
Option II: Higher of 10.5 times annual premium or basic sum assured
Policy And Premium Terms
Policy term options:
10 years
15 years
20 years
25 years
Premium payment term options:
5 years
10 years
15 years
Sum Assured Details
Minimum basic sum assured: ₹3 lakh
No upper limit subject to LIC underwriting rules
Sum assured available in multiples of ₹10,000
Installment Option For Maturity Benefits
Both plans offer a settlement option where policyholders can receive maturity benefits in installments instead of a lump sum.
Available payout options include:
Monthly: ₹5,000
Quarterly: ₹15,000
Half-yearly: ₹25,000
Yearly: ₹50,000
Policyholders can choose installment payouts over:
5 years
10 years
15 years
Who May Benefit From These LIC Plans?
These plans may suit married couples looking for:
Guaranteed returns
Long-term savings
Joint financial protection
Flexible payout options
Insurance with fixed benefits instead of market-linked risk
Since both are non-linked and non-participating policies, returns remain fixed and are not affected by stock market performance.
