The Life Insurance Corporation of India has officially launched the ‘New Jeevan Sathi Limited Premium’ plan. This innovative, non-linked, and non-participating joint life endowment policy is specifically tailored for married couples. It allows both spouses to secure comprehensive life protection and build long-term savings under a single contract, ensuring complete peace of mind.
A standout feature of this policy is its stability; because it is non-participating, all accumulated benefits remain fully fixed and guaranteed, completely independent of LIC’s market performance. Furthermore, couples can benefit from attractive guaranteed additions, which accumulate at a competitive rate of seven percent of the total tabular annual premium paid throughout the policy term.
Flexibility is central to the design of the New Jeevan Sathi plan. Policyholders can select from policy terms of ten, fifteen, twenty, or twenty-five years, with convenient limited premium payment windows of five, ten, or fifteen years. While the absolute minimum basic sum assured is set at three lakh rupees, there is no maximum cap, subject to standard underwriting guidelines.
Most importantly, the plan provides crucial financial relief through an integrated premium waiver benefit. In the unfortunate event that one spouse passes away during the policy term, the applicable death benefit is immediately paid to the survivor. From the next policy anniversary, all remaining future premiums for the base plan are entirely waived, keeping the surviving spouse securely covered without any added financial burden.
