LIC's Nav Jeevan Shree — Single Premium

How it works

LIC's Nav Jeevan Shree — Single Premium is a lic & life insurance product from Life Insurance Corporation of India, in the guaranteed category: fixed by contract. A single-premium endowment with guaranteed additions of ₹85 per ₹1,000 of sum assured, paid at maturity.

Because the return type is guaranteed, the questions that matter most are: Is the rate fixed for the whole tenure, or revised during it? Who is actually promising to pay, and what happens if they don't?

• A guaranteed corpus from a lump sum
• A single-premium policy with instalment payout options

Key facts

What can go wrong

• A large single premium is locked away for the full term.
• Early surrender returns less than the premium paid.
• The guaranteed return may be below inflation.

Before you decide anything

• The surrender value in each of the first five years
• Which death-benefit option suits your dependants

These are questions to take to the provider, not a checklist that makes a product suitable. Whether something fits your situation is a decision only you — or an adviser you choose — can make.

Official sources

• LIC — plan details↗
• IRDAI — policyholder rights↗

These link to the regulator or provider where the rules for this type of product are set out. They are the pages worth checking before you act, because they are the ones that get updated.