The Life Insurance Corporation of India (LIC) is launching two new life insurance policies in June 2026 — the New Jeevan Sathi Single Premium and New Jeevan Sathi Limited Premium.
They are both non-par, non-linked joint life single- premium endowment plans with guaranteed addition and offer a combination of savings and protection. Here's a look:
LIC’s New Jeevan Sathi – Single Premium
a. A single premium plan — with one-time premium payment, it offers joint life cover for spouses (primary life assured and secondary life assured) under one policy.
b. This is a non-par product under which benefits payable on death or survival are guaranteed and fixed irrespective of actual experience. Hence, the policy is not entitled to any discretionary benefits like bonus, etc. or a share in surplus.
c. This plan can be purchased offline through brokers, corporate agents, Insurance Marketing Firms (IMFs), licensed agents, and directly online through the website here — www.licindia.in
d. Guaranteed additions at ₹70 per ₹1,000 basic sum assured throughout the policy term and has additional rider options (on payment of additional premium) for enhanced protection.
e. Rebates are available to existing policyholders and nominees/beneficiaries of deceased policyholders.
f. Can meet liquidity needs through a loan facility.
g. The policy has flexibility to choose risk cover from two “Death Benefit Options”, choose the Policy Term, and opt for payment of Maturity / Death Benefit in instalments.
h. Options Sum Assured on Death: Option I — Higher of 1.25 times of Tabular Single Premium or Basic Sum Assured; Option II — 10 times of Tabular Single Premium.
i. Settlement is an option to receive maturity benefit in instalments over a period of 5, 10 or 15 years instead of a lump sum amount. Monthly - ₹5,000, Quarterly - ₹15,000, Half-yearly - ₹25,000, Yearly - ₹50,000.
Eligibility & other factors | |
Minimum Age at entry (for both lives) | 18 years (Completed) (for both Option I and Option II) |
Maximum Age at Entry (for both lives) | Option I: 60 years (Nearer Birthday); Option II: 35 years (Nearer Birthday) |
Policy Term | Option I: 10,15, 20 and 25 years; Option II: 10 and15 years |
Minimum Age at maturity | 28 years (completed) under both Options I and II |
Maximum Age at Maturity | Option I: 75 years (Nearer Birthday); Option II: 50 years (Nearer Birthday) |
Premium Payment Term | Single Premium |
Minimum Basic Sum Assured | ₹3,00,000 |
Maximum Basic Sum Assured | No limits. However, the maximum Basic Sum Assured allowed to each individual will be subject to underwriting decision as per the Board Approved Underwriting Policy. |
Basic Sum | Assured multiple ₹25,000 |
LIC’s New Jeevan Sathi – Limited Premium
- A limited premium plan, it offers joint life cover for spouses (primary life assured and secondary life assured) under one policy.
- This is a non-par product under which benefits payable on death or survival are guaranteed and fixed irrespective of actual experience. Hence, the policy is not entitled to any discretionary benefits like bonus, etc. or a share in surplus.
- This plan can be purchased offline through brokers, corporate agents, Insurance Marketing Firms (IMFs), licenced agents, and directly online through the website here — www.licindia.in
- Guaranteed additions of 7% on total annual premium paid and premium waiver on first death during the premium paying term.
- Rebates are available for existing policyholders and nominees / beneficiaries of deceased policyholders.
- Can meet liquidity needs through loan facility.
- The policy has flexibility to choose risk cover from two “Death Benefit Options”, choose the Premium Payment Term and the Policy Term, opt for payment of Maturity / Death Benefit in instalments.
- Options Sum Assured on Death: Option I — Higher of 7 times of Tabular Annual Premium or Basic Sum Assured; Option II — 10.5 times of Tabular Annual Premium or Basic Sum Assured.
- Settlement is an option to receive maturity benefit in instalments over a period of 5, 10 or 15 years instead of a lump sum amount. Monthly - ₹5,000, Quarterly - ₹15,000, Half-yearly - ₹25,000, Yearly - ₹50,000.
Eligibility and other factors
Minimum Age at entry (For both lives): 18 years (completed) under both Options I & II
b. Maximum Age at entry (For both lives)
Maximum age at entry (for both lives) | |||
Premium Payment Term (in years) | Policy Term (in years) | Maximum Age at Entry under Option I (in years) (nearer birthday) | Maximum Age at Entry under Option II (in years) (nearer birthday) |
5 | 10 | 45 | 40 |
5 | 15 | 45 | 40 |
5 | 20 | 45 | 40 |
5 | 25 | 45 | 35 |
10 | 15 | 50 | 40 |
10 | 20 | 50 | 40 |
10 | 25 | 50 | 35 |
15 | 20 | 50 | 40 |
15 | 25 | 50 | 35 |
1) Minimum Age at maturity: 28 years (completed) under both Options I & II
2) Maximum Age at maturity: Option I: 75 years (nearer birthday); Option II: 60 years (nearer birthday)
3) Policy Term: 10, 15, 20 and 25 years for both Options I & II
4) Premium Payment Term: 5, 10 and 15 years
5) Minimum Basic Sum Assured: ₹3,00,000
6) Maximum Basic Sum Assured: No limits. However, the maximum Basic Sum Assured allowed to each individual will be subject to a board-approved underwriting policy.
7) Basic Sum Assured Multiples: Basic Sum Assured shall be in multiples of ₹10,000.
