LIC Nav Jeevan Shree Plan 912 Calculator: Premium, Guaranteed Additions & Maturity

What is LIC Nav Jeevan Shree Plan 912?

LIC Nav Jeevan Shree (Plan 912, UIN 512N387V02) is a non-participating, non-linked savings plan with a limited premium term. It does not depend on bonuses or the stock market. Instead, LIC credits a guaranteed addition (GA), worked out on the premiums you have paid, at the end of every policy year, and the full amount is paid at maturity along with the basic sum assured.

It was launched in 2025 together with a single-premium version, Nav Jeevan Shree Single Premium 911. Plan 912 is for people who want to save from regular income for a few years and then let the policy grow on its own.

Nav Jeevan Shree 912 at a glance

Feature	Details
Plan number / UIN	912 / 512N387V02
Plan type	Non-par, non-linked, limited premium savings plan
Premium paying term	6, 8, 10, 12 or 15 years
Policy term	10–20 years (depends on PPT)
Entry age	30 days to 60 years (59 for PPT 12, 57 for PPT 15)
Maturity age	18 to 75 years
Minimum sum assured	₹5,00,000 (no upper limit)
Guaranteed additions	8.5%–9.5% of total tabular premium paid, every year
Death benefit options	Option I (7× annual premium) or Option II (10×)
Premium modes	Yearly, half-yearly, quarterly, monthly
Status	Available

Eligibility: PPT and policy term combinations

Premium paying term	Policy term allowed
6 years	10 to 20 years
8 years	15 to 20 years
10 years	15 to 20 years
12 years	16 to 20 years
15 years	18 to 20 years

Age at entry plus policy term cannot exceed 75, and the policy must mature at 18 or later. A child as young as 30 days can be covered, which makes the plan usable for education goals.

How the premium is calculated

The premium is a tabular rate per ₹1,000 of basic sum assured. It depends on the premium paying term, the policy term, the death benefit option and, slightly, on age. The calculator follows the sample premiums in LIC’s sales brochure: for example, a 35-year-old buying ₹5 lakh cover with an 8-year PPT and 20-year term (Option I) pays ₹60,350 a year. Terms and ages the brochure does not list are interpolated or extrapolated from those samples. Shorter PPTs mean larger instalments, but you finish paying sooner.

Worked example from the calculator: a 30-year-old chooses ₹10 lakh sum assured, a 10-year PPT and a 20-year policy term (Option I).

• Yearly premium: ₹1,10,094, paid for 10 years (₹11,00,940 in total)
• Guaranteed additions: 9.65% of the premiums paid so far, every year. That is ₹10,624 in year 1, rising to ₹1,06,241 a year once all 10 premiums are paid, about ₹16,46,731 in all
• Maturity at age 50: ₹26,46,731
• Approximate return: 5.73% a year, fully guaranteed

A 35-year-old choosing a 6-year PPT and 10-year term with ₹5 lakh cover pays ₹1,01,350 a year for six years. Maturity is ₹8,87,664, a yield of about 5.12%. For the 30-year-old, a 12-year PPT with a 20-year term costs ₹95,194 a year for ₹10 lakh and matures at ₹26,06,684.

Tip: the longest terms (18–20 years) earn the highest addition rate. If you can wait, a 20-year term with a 6 or 8-year PPT gave the best yield in our runs (about 6%).

There is no GST on this premium. Individual life insurance became GST-exempt from 22 September 2025, so the figure in the calculator is the full amount due.

Guaranteed additions explained

Each year’s addition is a percentage of the total tabular annual premium paid so far, so it grows while you pay and then stays level until maturity. The base rate rises with the policy term:

Policy term	Base guaranteed addition rate (% of total premium paid, per year)
10–13 years	8.5%
14–17 years	9%
18–20 years	9.5%

Bigger policies earn a small extra (for example 0.15 percentage points at ₹10 lakh with a 10-year PPT). Online purchases (0.75–1.35 points) and existing LIC policyholders (0.05–0.15 points) also get a top-up. The calculator adds these automatically when you tick the boxes. The additions stay with the policy even after premiums stop.

Maturity benefit

On surviving the full term you receive basic sum assured + all guaranteed additions as a lump sum. You can also ask for it in instalments over 5, 10 or 15 years instead. Nothing depends on LIC’s future bonus declarations, which is the main appeal of the plan.

Death benefit

If the life assured dies during the term, the nominee gets the sum assured on death plus guaranteed additions accrued up to that year:

• Option I: higher of 7 × annual premium or the basic sum assured.
• Option II: higher of 10 × annual premium or the basic sum assured.

The payout is never less than 105% of premiums paid. Choose the option at the start; it cannot be changed later. In the example above, Option II costs a little more (₹1,10,464 a year) and gives ₹11,04,640 of cover against ₹10 lakh under Option I.

Loan, surrender and other benefits

• Loan: available once the policy acquires a surrender value, useful for short-term needs without closing the policy.
• Surrender: possible after the policy has run for the required period. Early surrender returns much less than maturity, so treat this as a hold-to-maturity product.
• Settlement option: maturity or death money can be taken in instalments.

Tax benefits

Premiums are deductible under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old tax regime, up to ₹1.5 lakh). For the maturity to be exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)), the premium in any year must not exceed 10% of the sum assured, and total premiums on non-ULIP policies issued after 1 April 2023 must stay within ₹5 lakh a year. With Option I the premium can cross 10% of the cover. Check this with a tax adviser before choosing.

Who should buy Nav Jeevan Shree 912?

It suits you if you:

• want a guaranteed maturity figure for a goal such as a child’s higher education or a home down payment;
• have steady income for the next 6–15 years and can commit to the instalments;
• are uncomfortable with market-linked products.

It is less suitable if your main need is large life cover (a term plan gives far more cover per rupee) or if you are comfortable with equity funds for 15+ year goals.

Nav Jeevan Shree 912 vs 911 vs Bima Jyoti

Plan 912 and plan 911 share the same guaranteed-addition idea. The difference is how you pay: 912 spreads premiums over 6–15 years, while 911, now withdrawn, took one payment. LIC Bima Jyoti 760 is an older guaranteed-addition plan with a different term structure. Use the LIC return calculator to compare yields side by side.

How to use this calculator

1. Enter the age at entry.
2. Pick the PPT, then a policy term allowed for it.
3. Enter the sum assured and premium mode.
4. Select the death benefit option and any applicable top-ups.
5. Read the premium, guaranteed maturity and return, then scroll the year-wise table to see how the additions and death cover grow. All figures are estimates; LIC’s benefit illustration is final.