LIC Navjeevan – Plan 853 -Premium Maturity Amount and Insurance Cover Calculator. LIC has introduced Navjeevan (853) – a new non-linked, with profit endowment assurance plan with effect from 18th March 2019. Use this online calculator to understand the complete details of the plan.
LIC’s Navjeevan plan 853 – Premium and benefit calculator.
Online premium and benefit calculator of LIC’s Navjeevan plan 853 is intended to help you to understand all the benefits of the plan easily. It can help you to calculate premium payable for various modes and get the benefits such as insurance coverage, Maturity Benefit, Tax benefits etc.
- The term of the plan available is 10 to 18 years.
- Premium paying term single or five years.
- For Single payment mode, absolute death sum assured shall be 10 times of tabular single premium for the chosen basic sum assured.
- In case of limited payment mode, a person above 45 years of age will have to choose an absolute death Sum Assured between
- 10 times of annualized premium or
- 7 times of annualized premium.
- If the person is below 45 years of age absolute death sum assured shall be 10 times of annualized premium.
- The policy shall participate in the profits of the corporation in the form of loyalty additions available at the time of exit from the policy by death or maturity (Subject to certain conditions mentioned later in this post)
Policies shall be eligible for declared loyalty additions at the time of exit by way of maturity or death, provided the premium has been paid for at least five policy years and five years have been completed at the time of exit.
Declared loyalty additions will be considered in the surrender value calculations of both single as well as limited premium payment plan also, provided, five full-year premium has been paid.