Formula
P = (T − R) × S / 1000
I = P × c
T = A / (ä × (1 − λ))
M = G + q × T × Σt=1n min(t, k) × S / 1000
P × Σt=0k−1 (1 + r)−t = M (1 + r)−n
where
- P
- annual premium
- T
- tabular premium per ₹1,000 of sum assured, for your age, term and premium paying term
- R
- high sum assured rebate, ₹ per ₹1,000, from this plan's table (nil on smaller policies)
- S
- Basic Sum Assured
- I
- each instalment
- c
- instalment as a share of the annual premium: 1 yearly, 0.5093 half-yearly, 0.257 quarterly or 0.0862 monthly
- A
- present value, per ₹1,000 of sum assured, of everything the policy pays: death cover, survival benefits and maturity
- ä
- present value of ₹1 a year, paid at the start of each year of the premium paying term while you are alive
- λ
- expense loading, 12%
- M
- maturity amount
- G
- guaranteed maturity sum, equal to S
- q
- guaranteed addition rate, 8.5%, 9% or 9.5% of the tabular premiums paid to date, by policy term, credited at the end of each policy year
- min(t, k)
- the number of yearly premiums paid by the end of year t
- r
- annualised return: the rate that makes both sides equal
- n
- policy term, in years
- k
- premium paying term, in years
In short (tl;dr)
Nav Jeevan Shree is a non-participating limited premium endowment. You pay for 6, 8, 10, 12 or 15 years, and at the end of every policy year LIC adds a guaranteed 8.5% to 9.5% of the total premiums paid so far. The sum assured plus those additions is paid at maturity.
Worked example: at 35, ₹5,00,000 of cover over 20 years costs ₹60,350 a year for 8 years and is projected to pay ₹12,56,789 at maturity, a return of 5.91% a year.
Did you mean Nav Jeevan Shree Single Premium? This page is the version paid for over 6, 8, 10, 12 or 15 years. If your policy was bought with one payment, it is Plan 911, which LIC has since withdrawn and which credits a fixed ₹85 per ₹1,000 instead. Open the Nav Jeevan Shree Single Premium calculator (Plan 911).
What is LIC Nav Jeevan Shree?
Nav Jeevan Shree (Plan 912) was launched on 4 July 2025. It is a savings plan with life cover and no bonus: every benefit is fixed in the contract on the day the policy is issued. You choose a Basic Sum Assured from ₹5 lakh, a premium paying term of 6, 8, 10, 12 or 15 years, and a policy term of up to 20 years. The shortest term allowed depends on the premium term: 10 years if you pay for 6, 15 if you pay for 8 or 10, 16 if you pay for 12, and 18 if you pay for 15.
The Guaranteed Addition works differently from LIC's other guaranteed addition plans. Bima Jyoti and Amritbaal credit a fixed rupee amount per ₹1,000 of sum assured. Nav Jeevan Shree credits a percentage of the premiums you have paid: 8.5% a year on a 10 to 13 year term, 9% on 14 to 17 years and 9.5% on 18 to 20 years. Because the base grows with each premium, the yearly addition grows every year until the last premium and then stays level until maturity. On a ₹5 lakh, 20-year policy at age 35 paid over 10 years, the yearly premium is ₹55,600, the first addition is ₹5,282 and from year 10 the addition is ₹52,820 a year. The additions total ₹8,18,710 by maturity.
The calculator applies the base addition rates. A sum assured of ₹7 lakh or more, a purchase made online without an agent, or an existing LIC policyholder each earns a higher rate, so on those policies LIC's maturity figure will be somewhat above the one shown here.
Key features
- Guaranteed Addition every policy year of 8.5% to 9.5% of the total tabular premium paid to date
- Premium paying term of 6, 8, 10, 12 or 15 years, with a policy term of 10 to 20 years
- Entry from 30 days to 60 years, and maturity no later than age 75
- Two death benefit options chosen at the start: 7 times or 10 times the annual premium, if higher than the sum assured
- Higher Guaranteed Addition rate on a sum assured of ₹7 lakh and above, on online purchase, and for existing LIC policyholders
- Accidental death and disability, accident benefit, term assurance and premium waiver riders
Nav Jeevan Shree at a glance
- Plan number
- 912
- Category
- Endowment
- Entry age
- 0 to 60 years
- Policy term
- 10 to 20 years
- Premium paying term
- 6, 8, 10, 12, 15 years
- Sum assured
- ₹5 Lakh and above
- Maximum maturity age
- 75 years
- UIN
- 512N387V02
We checked the plan number and UIN above against LIC's own page for this plan on 2026-10-02. Check it on licindia.in
What are the benefits of LIC Nav Jeevan Shree?
What does LIC Nav Jeevan Shree pay on death?
Sum Assured on Death plus the Guaranteed Additions accrued to date, with the addition for the year of death counted in full. Under Option I the Sum Assured on Death is the higher of the Basic Sum Assured and 7 times the tabular annual premium (multiplied by the modal factor); under Option II, the higher of the Basic Sum Assured and 10 times. Either way the death benefit is at least 105% of premiums paid. For a child under 8 at entry who dies before the risk commences, the premiums paid are returned without interest. This calculator prices Option I.
What do you get at maturity?
The Basic Sum Assured plus all Guaranteed Additions accrued over the policy term. The additions keep accruing after the last premium, at the level reached when premiums stopped.
Who is LIC Nav Jeevan Shree for?
Someone who wants a known lump sum on a date 10 to 20 years away, can afford to fund it over a short window, and prefers a contractual figure to a bonus that may change.
What should you watch out for?
The ₹5 lakh minimum sum assured makes the yearly premium large on the short premium terms: about ₹1 lakh a year at age 35 on a 10-year policy paid over 6 years. The additions also depend on keeping the policy in force. If premiums stop, the policy becomes paid-up and the addition rate is cut in proportion to the premiums actually paid.
What does LIC Nav Jeevan Shree cost?
Worked out on a 20-year term with premiums paid for 8 years. Change any of these in the calculator above for your own figures.
By sum assured, at age 35
| Sum assured | Premium a year | Total paid in | Projected maturity |
|---|---|---|---|
| ₹5,00,000 | ₹60,350 | ₹4,82,800 | ₹12,56,789 |
| ₹10,00,000 | ₹1,20,700 | ₹9,65,600 | ₹25,13,578 |
| ₹25,00,000 | ₹3,01,750 | ₹24,14,000 | ₹62,83,945 |
Premiums are modelled on this plan's own tabular rates. The additions on this plan are contractual rather than declared, so unlike a with-profits plan the figure does not rest on a bonus declaration.
By age, on ₹5,00,000 of cover
Sum assured moves the premium almost in a straight line, so the table above is easy to read across. Age does not, and it is the input people most often want to test before filling anything in.
| Age at entry | Premium a year | Total paid in | Projected maturity | Age when it pays |
|---|---|---|---|---|
| 25 years | ₹59,998 | ₹4,79,985 | ₹12,52,376 | 45 |
| 30 years | ₹60,100 | ₹4,80,799 | ₹12,53,652 | 50 |
| 40 years | ₹60,909 | ₹4,87,272 | ₹12,63,799 | 60 |
| 50 years | ₹63,795 | ₹5,10,360 | ₹12,99,990 | 70 |
The premium barely moves across the rows. Mortality is a small part of a savings premium and the savings part is the same at any age. What age changes is the last column: when the money arrives, and how old you are when it does.
LIC's own sample premium, from the brochure
From the sourceNot modelled: this is the table LIC prints in its own brochure (Sales brochure, section 7 Sample Illustrative Premium, Option I, age 35, offline), at ₹5,00,000 of cover, the sum assured LIC chose to illustrate. Everywhere else on this page the premium is worked out for the sum assured you enter; here it is fixed at that figure, because that is what LIC published.
These figures are taken from the document linked below. Check them there.
| Age at entry | 10-year term, 6 to pay | 15-year term, 6 to pay | 20-year term, 6 to pay | 15-year term, 8 to pay | 20-year term, 8 to pay | 15-year term, 10 to pay | 20-year term, 10 to pay | 20-year term, 12 to pay | 20-year term, 15 to pay |
|---|---|---|---|---|---|---|---|---|---|
| 35 | ₹1,01,350 | ₹93,425 | ₹76,750 | ₹70,925 | ₹60,350 | ₹62,825 | ₹55,600 | ₹48,075 | ₹41,875 |
Priced on ₹5,00,000 of cover, exclusive of taxes, standard lives. Our own model is anchored on the age 35, 20-year term, 8-year premium term cell in this table; the other cells are the real test of the model, and the editorial and methodology policy publishes how far off they run.editorial and methodology policy publishes how far off they run.
Where the maturity figure comes from
Taken apart, on the ₹5,00,000 policy in the first table. Every line is contractual on this plan: the additions are written into the policy at a stated rate rather than declared each year, so none of this depends on how LIC's investments do.
- Basic sum assured (guaranteed)
- ₹5,00,000
- Guaranteed additions
- ₹7,56,789
- Paid at maturity
- ₹12,56,789
- Return a year on the premiums
- 5.91%
When does LIC Nav Jeevan Shree pay for itself?
The grey line is what you have paid in by each policy year. The yellow line is what the policy has paid back by then. They cross in year 20, which is the point the policy has returned everything it cost.
That return counts everything the policy pays back, income included, against everything you put in, after the cost of the life cover it carried for 20 years. It is not a market return. On this plan the figures behind it are contractual, so it moves only with the age and term you enter.
Who can take LIC Nav Jeevan Shree?
Age to start
- Minimum
- 30 days
- Maximum
- 60 years
These are the widest limits the plan allows. The range narrows once you choose a premium paying term, and the calculator applies whichever range fits your answers.
Policy term
- Minimum
- 10 years
- Maximum
- 20 years
Age when the policy matures
- Maximum
- 75 years
Your age at entry plus the policy term cannot come to more than 75.
Years you pay for
- Minimum
- 6 years
- Maximum
- 15 years
Any whole number of years from 6 to 15.
Sum assured
- Minimum
- ₹5,00,000
- Maximum
- No limit set by LIC
LIC caps this by what underwriting allows rather than with a printed figure. This calculator accepts up to ₹5 Crore.
The calculator applies every limit above. LIC sets them out under "Eligibility Conditions and Other Restrictions" on page 3 of the Nav Jeevan Shree sales brochure, linked in the form above.
What age can you take LIC Nav Jeevan Shree at?
The entry age depends on how long you pay for. A longer premium paying term is open to younger lives and closes earlier; a short one starts later and stays open to 60. These are the twelve rows LIC prints in its eligibility table.
| Premium paying term | Minimum age at entry | Maximum age at entry |
|---|---|---|
| 6 years | 30 days | 60 years |
| 8 years | 30 days | 60 years |
| 10 years | 30 days | 60 years |
| 12 years | 30 days | 59 years |
| 15 years | 30 days | 57 years |
Minimum ages are completed years; maximum ages are nearer birthday. The calculator enforces these, so an age outside the range for your chosen premium term is rejected with the range that applies.
What Nav Jeevan Shree pays if you surrender
The brochure prints its own Guaranteed Surrender Value table. It applies to total premiums paid, with nothing taken off for the first year: nil in year 1, 30% in year 2, 35% in year 3, 50% from year 4, then rising by policy term to 90% in the final years. The Guaranteed Surrender Value needs two full years' premiums, while the Special Surrender Value is available after the first policy year once one full year's premium is paid. Accrued Guaranteed Additions are surrendered at a separate, lower factor that also rises with duration. LIC pays the higher of the guaranteed figure and the Special Surrender Value.
Taken from the plan's own brochure rather than modelled, which is why there is no table here: LIC states the percentages for this plan outright, and a percentage of a number you already know needs no calculator.
Tax on LIC Nav Jeevan Shree
Two provisions do the work, and both turn on the size of the premium rather than on the plan. The Income-tax Act, 2025 renumbered both from 1 April 2026 without changing the rules, so each is given here under its old number and its new one.
Section 80C, now Section 123, on what you pay in
Premiums count towards the ₹1.5 lakh limit, in the year they are paid, if you are on the old regime. The deduction is restricted where the annual premium is more than 10% of the sum assured.
Section 10(10D), now Schedule II, on what comes back
Maturity proceeds are exempt where the premium in every year stays inside 10% of the sum assured, and, for a policy issued on or after 1 April 2023, where the premiums on all such policies together stay inside ₹5 lakh a year. Death proceeds are exempt either way.
Where this policy sits
The ₹5,00,000 policy priced above costs ₹60,350 a year, which is 12.1% of the sum assured. That is above the 10% test, so both provisions are restricted for it. A larger sum assured moves the ratio down.
GST
Nil. Individual life insurance premiums have been exempt since 22 September 2025, so the instalment the calculator shows is the amount that leaves your account.
None of this is tax advice. Which regime you are on, what else you hold and when the policy was issued all change the answer, so confirm your own position with a tax adviser before you rely on it.
How this calculator works
Nav Jeevan Shree is priced here on its own parameters, not a generic formula. We build the plan's full cash-flow schedule, meaning the death benefit in each policy year, every survival payout and the maturity value, then discount it on a basis calibrated to a reference premium for this plan. That reference is checked two ways: against LIC's published tabular rate, and against the return the plan's own benefits imply for the policyholder.
- Reference premium
- ₹120.70 per ₹1,000 at age 35, 20-year term, 8-year premium term
- Discount basis
- 6.50% a year, on LIC (2012-14) Ultimate mortality
- Guaranteed additions
- 8.5% on terms up to 13 years, 9% on terms up to 17 years, 9.5% on longer terms of the tabular premiums paid to date, added at the end of every policy year for the whole term.
- GST
- Nil. Individual life insurance premiums have been exempt from GST since 22 September 2025, so the instalments shown are what you actually pay.
Bonus rates are declared annually and are not guaranteed; only the sum assured and any contractual guaranteed additions are. Read our editorial and methodology policyfor the full basis, and confirm every figure with LIC before you buy.
Check the source:Nav Jeevan Shree on licindia.inLIC valuation and bonus declarationsIRDAI regulations
How LIC Nav Jeevan Shree compares
The plans people weigh this one against, and what separates each from it.
| Plan | Policy term | You pay for | Cover from | What is different |
|---|---|---|---|---|
| Nav Jeevan ShreeNo. 912 · this page | 10 to 20 years | 6, 8, 10, 12, 15 years | ₹5 Lakh | Pay for 6, 8, 10, 12 or 15 years, and every year the policy adds 8.5% to 9.5% of the premiums you have paid. |
| AmritbaalNo. 774 | 10 to 25 years | 5, 6, 7 years | ₹2 Lakh | A child plan with ₹80 per ₹1000 guaranteed addition every year. |
| Bima JyotiNo. 760 | 15 to 20 years | Term minus 5 years | ₹1 Lakh | Non-participating endowment with a guaranteed addition of ₹50 per ₹1000 every year. |
| Jeevan LabhNo. 736 | 16, 21, 25 years | 10, 15, 16 years | ₹2 Lakh | Limited premium endowment. You finish paying years before the policy matures. |
| Nav Jeevan Shree Single PremiumNo. 911 | 5 to 20 years | One premium | ₹1 Lakh | One payment, and ₹85 per ₹1,000 of sum assured added every year until maturity. |
To price several of these against each other on the same age and sum assured, the LIC premium calculator runs every plan on the site through the same engine and puts the answers in one table.
LIC Nav Jeevan Shree: frequently asked questions
What is the maturity amount of LIC Nav Jeevan Shree?
The Basic Sum Assured plus the Guaranteed Additions. LIC's own benefit illustration takes a 30-year-old buying ₹10 lakh of cover for 20 years, paid over 8 years at ₹1,19,500 a year. Total premiums come to ₹9,56,000 and the maturity benefit is ₹25,17,459: the ₹10 lakh sum assured and ₹15,17,459 of additions. That illustration includes the 0.12% high sum assured incentive a ₹10 lakh policy on an 8-year premium term earns.
How is the Guaranteed Addition in Nav Jeevan Shree calculated?
At the end of each policy year LIC multiplies the total tabular annual premium paid so far by the Guaranteed Addition rate. The rate is 8.5% for policy terms of 10 to 13 years, 9% for 14 to 17 years and 9.5% for 18 to 20 years, plus any incentive the policy qualifies for. In LIC's illustration the premium is ₹1,19,500 and the rate 9.62%, so the addition is ₹11,496 after the first year, ₹22,992 after the second, and ₹91,967 a year from the eighth year on, once all eight premiums are in.
What are the premium paying term and policy term options?
Premiums are paid for 6, 8, 10, 12 or 15 years. The policy term can be anything up to 20 years, with a minimum that depends on the premium term: 10 years for a 6-year premium term, 15 for 8 or 10, 16 for 12, and 18 for 15.
What is the difference between Option I and Option II?
Only the death benefit. Option I covers the higher of the Basic Sum Assured and 7 times the annual premium; Option II the higher of the Basic Sum Assured and 10 times. Option II costs more where 10 times the premium is above the sum assured, which happens on the short premium terms: at age 35 on a 20-year policy paid over 6 years, ₹81,150 against ₹76,750 for ₹5 lakh. On the 12 and 15-year premium terms the two options cost the same. The choice cannot be changed later.
Does a bigger sum assured get a lower premium?
No. Nav Jeevan Shree gives no premium rebate for a high sum assured. It raises the Guaranteed Addition rate instead: nothing below ₹7 lakh, then between 0.07 and 0.40 percentage points depending on the sum assured and the premium term. A 15-year premium term at ₹20 lakh or more gets the largest uplift, 0.40%. Buying online without an agent adds 0.75% to 1.35%, and existing LIC policyholders get 0.05% to 0.15%.
What is the minimum sum assured in Nav Jeevan Shree?
₹5,00,000, in multiples of ₹10,000. There is no maximum beyond LIC's underwriting rules. Policies bought through a Point of Sales Person are capped at ₹25 lakh of Sum Assured on Death.
Can I surrender Nav Jeevan Shree, and can I take a loan on it?
It can be surrendered after the first policy year once a full year's premium has been paid. The Guaranteed Surrender Value needs two full years' premiums and is a percentage of total premiums paid: 30% in year 2, 35% in year 3, 50% from year 4, rising to 90% near the end of the term. A separate, lower percentage applies to the additions already accrued. LIC pays the higher of that and the Special Surrender Value. A loan is available after the first year, up to 50% of the surrender value before two full years' premiums and 80% after, or 40% and 70% on a paid-up policy.
Can Nav Jeevan Shree be taken for a child?
Yes. The minimum entry age is 30 days. For a child under 8, the risk cover starts two years after the policy begins or on the policy anniversary at or after age 8, whichever is earlier. If the child dies before that, the premiums paid are returned without interest. The policy vests in the child at 18, and maturity cannot fall before age 18.
Is Nav Jeevan Shree Plan 912 the same as the version launched in July 2025?
Same plan number, revised version. LIC launched it on 4 July 2025 under UIN 512N387V01 with premium terms of 6, 8, 10 and 12 years. LIC lists that version as withdrawn in 2025-26. The current version, UIN 512N387V02, adds a 15-year premium term; the guaranteed addition rates and LIC's sample premiums for the other premium terms are unchanged. Your policy document says which version you hold.
Can the maturity or death benefit be taken in instalments?
Yes, over 5, 10 or 15 years, paid yearly, half-yearly, quarterly or monthly. For the maturity benefit the option has to be exercised at least three months before maturity. For the death benefit the policyholder or life assured sets it up during the policy, and the nominee cannot change it. Minimum instalments are ₹5,000 a month, ₹15,000 a quarter, ₹25,000 a half-year or ₹50,000 a year.
Spot something wrong?
If a figure on this page disagrees with an LIC premium notice, bonus statement or benefit illustration, tell us and we will check it against the brochure. Anything else you think this page gets wrong is just as welcome.
Related calculators
Plans people usually weigh up against Nav Jeevan Shree before deciding.
Amritbaal
No. 774A child plan with ₹80 per ₹1000 guaranteed addition every year.
Open calculatorBima Jyoti
No. 760Non-participating endowment with a guaranteed addition of ₹50 per ₹1000 every year.
Open calculatorJeevan Labh
No. 736Limited premium endowment. You finish paying years before the policy matures.
Open calculatorNav Jeevan Shree Single Premium
No. 911One payment, and ₹85 per ₹1,000 of sum assured added every year until maturity.
Open calculator