LIC Nav Jeevan Shree 911 vs. 912: A Detailed Look at Guaranteed Savings and Protection

On July 4th, 2025, the Life Insurance Corporation of India (LIC) launched two innovative insurance-cum-savings products: LIC Nav Jeevan Shree Plan 911 and LIC Nav Jeevan Shree Plan 912. Both plans are designed to provide guaranteed returns and financial security, standing out in the market for their stability and risk-free benefits.

Understanding who should opt for which plan is crucial. LIC Nav Jeevan Shree Plan 911 is ideal for investors with surplus funds seeking lump sum investments that provide immediate life cover and guaranteed growth. Conversely, Plan 912 caters to young professionals and salaried individuals preferring systematic premium payments over a short duration, with benefits extending over a longer policy term.

A key feature of these plans is the Guaranteed Additions (GA), which accrue annually regardless of market performance. They significantly enhance the maturity and death benefits, ensuring consistent growth.

• Plan 911: ₹85 per ₹1,000 of Basic Sum Assured (BSA) annually.
• Plan 912: GA as a percentage of Tabular Annual Premium (TAP), increasing with policy duration (8.5% to 9.5%).

On maturity, the insured receives the Basic Sum Assured plus accrued Guaranteed Additions. Death benefits are available in two options at inception, with the higher of specified multiples or sum assured, ensuring financial protection for beneficiaries.

Special provisions apply for minors, with refunds of premiums paid if death occurs before risk starts. Settlement options allow payouts in installments over 5, 10, or 15 years at prevailing interest rates.

Both plans provide surrender and loan facilities, with specific conditions. Plan 911 allows surrender anytime with partial cash value, while Plan 912 permits surrender after 1 year. Loan options are available after specified durations, with coverage up to 70–80% of surrender value.

Premiums paid under both plans qualify for deductions under Section 80C, and payouts are tax-free under Section 10(10D), subject to conditions. For Plan 911, maintaining maturity tax benefits requires keeping premiums below 10% of the sum assured, making Option II (10× SP) a safer choice for tax efficiency.

Eligibility criteria differ slightly. For Plan 911, minimum policy term is 5 years with a maximum of 20 years, and maximum entry age is 75 years (depending on options). For Plan 912, the policy term ranges from 10 to 16 years, with similar age limits. Min sum assured starts at ₹10,000, with minors eligible from age 8 or 2 years after policy start.

Choosing between LIC Nav Jeevan Shree Plan 911 and Plan 912 depends on your financial situation and investment preference. If you have lump sum funds and desire guaranteed, immediate returns, Plan 911 (especially Option II for tax benefits) is ideal. For younger earners preferring systematic premium payments with long-term coverage, Plan 912 offers flexibility and stability. Both plans emphasize guaranteed growth and insurance protection, making them excellent choices for risk-averse investors seeking assured benefits.