LIC Navjeevan 853 is an endowment plan that let you pay once or for just 5 years, with a policy term of 10 to 18 years and entry up to age 65. It was withdrawn on 31 January 2020. By our estimate, a 35-year-old choosing ₹5 lakh cover for 15 years paid about ₹50,231 a year for 5 years; the basic sum assured, plus any loyalty addition, is paid at maturity.
Navjeevan 853 Premium & Benefit Calculator
Your estimate
guaranteed basic sum assured
- Premium per instalment
- ₹50,231
- Premium paying term
- 5 years
- Total premium paid
- ₹2,51,155
- Sum assured on deathplus loyalty addition after 5 years
- ₹5,02,310
- Age at maturity
- 50 years
- Total premium paid₹2,51,15550%
- Net gain₹2,48,84550%
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 Navjeevan Plan 853?
LIC Navjeevan (Plan 853) is a non-linked endowment plan designed around flexibility in payment. You could pay a single premium once, or limited premiums for 5 years, while the policy runs for 10 to 18 years. Entry was allowed from 90 days of age up to 65, which made it one of the few LIC savings plans open to people in their late fifties and early sixties.
LIC withdrew the plan on 31 January 2020. This page helps existing policyholders understand their premium and benefits. New buyers looking for the same pay-once or pay-five-years structure can compare Bachat Plus 861.
Navjeevan 853 at a glance
| Feature | Details |
|---|---|
| Plan number | 853 |
| Plan type | Non-linked endowment assurance plan |
| Premium options | Single premium, or 5-year limited premium |
| Policy term | 10 to 18 years |
| Entry age | 90 days to 44 (single); 90 days to 65 (limited) |
| Maximum maturity age | 75 years |
| Minimum basic sum assured | ₹1,00,000 (no upper limit) |
| Death cover | 10× single premium; or 10× (or 7× for age 45+) annual premium |
| Loyalty addition | On death after 5 years or at maturity, if declared |
| Status | Withdrawn on 31 January 2020 |
Eligibility by premium option
| Option | Entry age | Sum assured on death |
|---|---|---|
| Single premium | 90 days – 44 years | 10 × tabular single premium |
| Limited premium, 10× | 90 days – 65 years | Higher of 10 × annual premium or 105% of premiums paid |
| Limited premium, 7× | 45 – 65 years | Higher of 7 × annual premium or 105% of premiums paid |
How the premium is calculated
The premium is a tabular rate per ₹1,000 sum assured by age and term. Longer terms mean a lower rate because the money has longer to grow. Limited-premium payers could choose half-yearly, quarterly or monthly instalments at a small loading (2%, 3% and 5%). Our rates are reconstructed estimates, so treat the output as approximate.
Example 1 (calculator output): age 35, 5-year limited premium, ₹5 lakh, 15-year term.
- Yearly premium: ₹50,231 for 5 years (₹2,51,155 in total)
- Guaranteed maturity at 50: ₹5,00,000, plus loyalty addition if declared
- Sum assured on death: ₹5,02,310
Example 2: age 30, single premium, ₹5 lakh, 12-year term. One payment of about ₹2,69,605 gives death cover of about ₹26.96 lakh and ₹5 lakh at maturity.
Example 3: age 55, limited premium with 7× cover, ₹10 lakh, 10 years: ₹1,56,159 a year for 5 years, death cover about ₹10.93 lakh.
No GST applies today. Before 22 September 2025 the first-year premium attracted 4.5% GST and later ones 2.25%.
Tip: the loyalty addition field starts at 0 so you see only the guaranteed amount. If your LIC branch has told you the declared rate, add it to see the full maturity.
Maturity benefit
At maturity you receive the basic sum assured plus the loyalty addition, if LIC declares one for policies of your term and year. The sum assured is guaranteed; the loyalty addition depends on LIC’s experience.
Death benefit
If the life assured dies during the term, the nominee gets the sum assured on death (see the table above). If death happens after five policy years, the loyalty addition is paid too. For policies on children, check your bond for the date from which full risk cover applies.
Loan, surrender and riders
- Surrender: possible once the policy acquires a surrender value. LIC pays the higher of the guaranteed and special surrender value.
- Loan: available against the surrender value.
- Rider: the Accidental Death and Disability Benefit Rider could be added for extra cover.
Use the surrender value calculator for a rough exit estimate.
Tax benefits
Premiums are deductible under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime), limited to 10% of the sum assured. With 10× cover, the premium stays within 10% of cover, so maturity is generally exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)). The 7× option does not meet that test, so the gain on maturity may be taxable.
Who was Navjeevan designed for?
- Older savers (up to 65) who wanted a short, low-risk savings plan with some life cover.
- People with a lump sum who preferred to pay once.
- Families building a fund over 10–18 years without long premium commitments.
For a current alternative, compare Bachat Plus 861 and the endowment plan calculator.
Frequently asked questions
Is LIC Navjeevan 853 still on sale?
No. LIC withdrew Navjeevan on 31 January 2020. Policies bought before that continue with their original benefits. A similar single or 5-year premium structure is available in LIC Bachat Plus 861.
What is the maturity benefit of Navjeevan 853?
On survival to the end of the term, you receive the basic sum assured plus any loyalty addition LIC declares for your policy. For ₹5 lakh cover the guaranteed part is ₹5 lakh; the loyalty addition is extra and not guaranteed.
What is the death benefit in Navjeevan single premium?
Under the single premium option, sum assured on death is 10 times the tabular single premium. In our example of a 30-year-old with ₹5 lakh cover for 12 years, that is about ₹26.96 lakh, plus loyalty addition if death occurs after five policy years.
What does the 7× option mean in Navjeevan?
Entrants aged 45 and above on limited premium could choose death cover of 7 times the annual premium instead of 10 times. Lower cover suits older buyers who mainly want savings, but it may affect tax exemption because the premium exceeds 10% of cover.
Can I surrender Navjeevan 853?
Yes, once the policy has acquired a surrender value under its terms. LIC pays the higher of the guaranteed and special surrender value, and a loan is available against it. Early exit returns much less than maturity, so check the quote before deciding.
Is GST payable on Navjeevan premiums?
No. From 22 September 2025, individual life insurance premiums are GST-exempt. Earlier, the first-year premium carried 4.5% GST and later premiums 2.25%, which is why older receipts show higher amounts.
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.