Enter Policy Details
Discover Your Guaranteed Benefits
Use our LIC Nav Jeevan Shree 912 benefits calculator to get a personalized illustration. See your estimated premium, guaranteed maturity amount, and year-by-year benefits with this online tool.
LIC Nav Jeevan Shree 912 Benefits
- Guaranteed Returns: Unlike market-linked plans, the maturity amount is guaranteed from the start, providing complete financial security.
- Limited Premium Payment: Pay premiums for a shorter duration (6, 8, 10, or 12 years) while enjoying life cover and benefits for the entire policy term (up to 20 years).
- Tax-Free Maturity: The maturity amount, including the Basic Sum Assured and Guaranteed Additions, is tax-free under Section 10(10D) of the Income Tax Act.
- Loan Facility: Avail a loan against the policy to meet unexpected financial needs.
- Dual Death Benefit Options: Choose between a lower premium (Option 1) or higher life cover (Option 2) to suit your protection needs.
- Ideal for All Ages: With an entry age from 30 days to 60 years, it's a perfect tool for child education planning or as a Nav Jeevan Shree 912 for senior citizens calculator for post-retirement income.
How to Use This Calculator
- Enter Your Details: Input your age, desired Basic Sum Assured, and choose a Premium Payment Term (PPT) from the dropdown.
- Select Policy Term: Based on your PPT, select a valid Policy Term. The tool automatically adjusts the minimum term for you.
- Choose Death Benefit: Select the death benefit option that suits your need for financial protection.
- Calculate & Analyze: Click "Calculate" to see your results. Use the tabs to switch between the Summary, Yearly Breakdown, and Chart View with our Nav Jeevan Shree 912 maturity calculator online.
Step-by-Step Calculation Explained
- Guaranteed Additions (GA): The GA rate (8.5%, 9%, or 9.5%) is based on your Policy Term. This percentage is applied to the cumulative tabular premiums paid to date, and this amount is added at the end of each policy year for the entire policy term.
- Maturity Benefit: The amount received on survival, which is the sum of the Basic Sum Assured and total accumulated GAs. Formula: $$\\text{Basic Sum Assured} + \\text{Total GAs}$$
- Sum Assured on Death: The base life cover, which is the higher of the Basic Sum Assured or a multiple (7x or 10x) of your annual tabular premium.
- Total Death Benefit: The total payout to the nominee, which is the Sum Assured on Death plus the GAs accrued until the year of death. Formula: $$\\text{Sum Assured on Death} + \\text{Accrued GAs}$$
Frequently Asked Questions
What is the main advantage of Plan 912?
Plan 912 offers Guaranteed Additions instead of variable bonuses. This means you know the exact maturity amount from day one. It combines this certainty with the flexibility of a Limited Premium Payment Term (PPT), so you pay for a shorter period than the policy's full duration.
How are the Guaranteed Additions (GA) calculated?
The GA is a percentage (8.5% to 9.5% based on policy term) of the total tabular annual premiums you pay. This calculated amount is then added to your policy at the end of every policy year for the entire duration of the policy, not just during the premium paying term.
What is the difference between the two death benefit options?
Option 1 (Lower Risk Cover) is cheaper and offers a death benefit of at least 7 times your annual premium. Option 2 (Higher Risk Cover) has a higher premium but provides a larger death benefit of at least 10 times your annual premium, making it better for those seeking higher family protection.
How does this plan compare to LIC Jeevan Labh?
Nav Jeevan Shree 912 is a non-participating plan with guaranteed returns. Jeevan Labh is a participating plan where returns (bonuses) are not guaranteed and depend on LIC's profits. Plan 912 offers certainty, while Jeevan Labh offers the potential for higher, but variable, returns.
Are the maturity returns tax-free?
Yes, under current tax laws (as of July 2025), the maturity amount is generally tax-free under Section 10(10D) of the Income Tax Act, provided the total annual premium for all policies issued after April 1, 2023, does not exceed ₹5 lakh.
Can I get a loan on this policy?
Yes, a loan facility is available after payment of at least one full year's premium, providing you with liquidity in case of emergencies.
Is this plan suitable for my child's education planning?
Absolutely. With a minimum entry age of just 30 days, you can start this plan early for your child. By choosing a policy term that matures around the time they need funds for higher education, you can build a guaranteed, tax-free corpus for their future.
How does this plan compare to a Bank Fixed Deposit (FD)?
While both offer guaranteed returns, Plan 912 provides the dual benefit of life insurance cover, which an FD does not. Additionally, the maturity proceeds from the policy are tax-free under Sec 10(10D), whereas interest earned on an FD is fully taxable as per your income slab.
Is the Nav Jeevan Shree 912 for senior citizens calculator useful?
Yes, this tool is very useful as a Nav Jeevan Shree 912 for senior citizens calculator. An individual up to 60 years of age can enter the plan. It allows senior citizens to invest a lump sum (over a limited period) and create a guaranteed, tax-free income stream for their post-retirement years.