LIC Jeevan Saathi 89 was a joint-life endowment plan that covered husband and wife under one policy until LIC withdrew it on 1 January 2014. On the first death the survivor gets the sum assured and pays no further premiums. At maturity or the second death, the sum assured plus bonuses is paid again. For both spouses aged 35, ₹1 lakh cover for 25 years costs about ₹5,261 a year, with no GST.
Jeevan Saathi 89 Joint Life Premium & Maturity Calculator
Your estimate
sum assured + bonuses, if at least one spouse survives the term
- Premium per instalment
- ₹25,325
- Total premium paidif both spouses survive; premiums stop after the first death
- ₹6,33,125
- Paid on first deathto the surviving spouse; cover continues premium-free
- ₹5,00,000
- Paid on second death (end of term)sum assured + bonuses to the nominee
- ₹10,00,000
- Total bonus (estimated)
- ₹5,00,000
- Age at maturity
- 60 years
- Total premium paid₹6,33,12563%
- Net gain₹3,66,87537%
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC Jeevan Saathi Plan 89?
LIC Jeevan Saathi (Table 89, UIN 512N081V01) is a joint-life, with-profit endowment plan for married couples. One policy covers both husband and wife. It can pay the sum assured twice: once to the survivor on the first death, and again with bonuses at maturity or on the second death. After the first death, the survivor pays no more premiums.
LIC withdrew the plan on 1 January 2014. Existing policies continue, and many couples still hold them.
Jeevan Saathi 89 at a glance
| Feature | Details |
|---|---|
| Table number / UIN | 89 / 512N081V01 |
| Lives covered | Husband and wife |
| Entry age | 20 to 50 years (both) |
| Maximum maturity age | 70 years |
| Policy term | 15 to 30 years |
| Premium paying term | Same as policy term |
| Minimum sum assured | ₹50,000 (no upper limit) |
| Premium waiver | On first death |
| Status | Withdrawn from 1 January 2014 |
How the premium is calculated
The premium depends on the ages of both spouses and on the term. Our source’s rate chart fell with age up to 40, which cannot be right for a plan covering two lives. So the calculator uses a savings component by term plus a death-cost component for each spouse. It is calibrated to the plan’s own example of ₹5,261 a year for ₹1 lakh when both are 35 on a 25-year term. There is no GST on premiums from 22 September 2025.
Worked examples:
- Husband 35, wife 32, ₹5 lakh, 25 years: about ₹25,325 a year (₹2,279 a month by monthly mode), ₹6,33,125 over the term if both survive.
- Husband 40, wife 36, ₹3 lakh, 20 years, monthly: about ₹1,666 a month (₹19,992 a year).
Benefits in each situation
| Situation | What is paid |
|---|---|
| First death during the term | Sum assured to the survivor; premiums waived |
| Second death during the term | Sum assured + bonuses to the nominee |
| Survival to maturity (one or both) | Sum assured + bonuses |
In the ₹5 lakh example, the survivor would get ₹5,00,000 on the first death. The maturity or second-death payout would be about ₹10,00,000 at an illustrative ₹40 bonus per ₹1,000 a year. Check your bonus statement and adjust the rate. Our bonus calculator can help.
Tip: if one spouse has died and premiums were waived, make sure LIC’s records show the waiver. The surviving spouse should not be receiving renewal notices.
Loan and surrender
Surrender value becomes available after three years of premium, and loans can be taken against it. As with most endowment plans, surrendering early returns much less than the premiums paid.
Tax benefits
Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime). Death and maturity proceeds are generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)).
How it differs from Jeevan Saathi Plus and the new Jeevan Sathi
Jeevan Saathi Plus 197 was a unit-linked version for couples, sold only in 2009–2010, with returns tied to fund performance. LIC’s current Jeevan Sathi 889 is a non-par joint-life savings plan with limited premiums, so its benefits are guaranteed rather than bonus-linked. Plan 89 is the traditional, bonus-paying original.
Frequently asked questions
Can a couple still buy LIC Jeevan Saathi Plan 89?
No. LIC withdrew Jeevan Saathi from 1 January 2014. Existing policies continue with all benefits. Couples looking for a joint-life plan today can look at LIC's newer Jeevan Sathi plans (888 and 889), which work differently.
What happens on the first death in Jeevan Saathi?
The surviving spouse receives the sum assured. All future premiums are waived and the policy continues on the survivor's life. The survivor still receives the sum assured plus bonuses at maturity, or the nominee receives it on the second death.
How much is the Jeevan Saathi 89 premium?
For both spouses aged 35, the plan's own example gives ₹5,261 a year for ₹1 lakh over 25 years. Our calculator estimates ₹25,325 a year for ₹5 lakh when the husband is 35 and the wife 32. Older couples pay more because two lives are covered.
What is the maturity benefit of Jeevan Saathi?
If at least one spouse survives the term, the policy pays the sum assured plus accrued bonuses. At an illustrative ₹40 bonus per ₹1,000 a year, a ₹5 lakh, 25-year policy would mature at about ₹10 lakh.
What are the age limits for Jeevan Saathi 89?
Both spouses had to be between 20 and 50 at entry. Policy terms ran from 15 to 30 years, and the maximum maturity age was 70, so older couples were limited to shorter terms.
Is GST charged on Jeevan Saathi premiums now?
No. Individual life insurance premiums are GST-exempt from 22 September 2025. Very few Jeevan Saathi policies still have premiums due, but any that do are charged no GST.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.