Two new life insurance plans have been introduced by the Life Insurance Corporation of India (LIC) to help customers save money and get life insurance cover.

These plans are:

Nav Jeevan Shree (Plan 912): For people who would rather pay their premiums on a monthly basis.

Nav Jeevan Shree Single Premium (Plan 911): For individuals who wish to pay just once and be protected.

On July 4, 2025, Sat Pal Bhanoo, LIC's CEO and MD (In-Charge), formally introduced them.

What Is Nav Jeevan Shree (Plan 912)?

Since it's a standard premium life insurance plan, you have the option of making monthly, quarterly, or annual payments.

Young individuals who wish to save money over time and ensure that their family is covered in the event of an emergency would find it ideal.

Key Benefits

Builds guaranteed savings (LIC adds guaranteed amounts every year)

Gives life cover throughout the policy term

Helps achieve long-term goals like:

Child’s education

Marriage

Retirement

What is the Nav Jeevan Shree Single Premium Plan?

This plan, which offers assured earnings and life insurance without regular payments, is perfect for one-time investment. Ideal for:

Those looking for a straightforward, one-time investment

Investors seeking insurance protection and guaranteed growth

Individuals with immediate to intermediate financial objectives

Take advantage of guaranteed additions that increase your money at a set rate independent of market swings.

Benefits shared by both plans:

Guaranteed Additions: Regular additions of additional funds to your insurance

Financial support for your family in the event of your absence is provided by life insurance coverage.

Simple Terms Make It Easy to Manage and Understand

Both short- and long-term objectives can be applied to significant upcoming occasions or crises.

What is the Goal of the LIC’s Plan?
LIC is trying to meet the needs of modern, financially aware individuals, especially the younger generation, by offering plans that are:
Safe

Transparent

Digitally accessible

These plans are designed for those who want to grow their money safely, while ensuring their family’s financial protection.

LIC launches two new insurance plans for savings and protection

Author:Ufaq Ahmed Ansari

Updated At:10 Jul 2025