LIC New Jeevan Dhara I (Plan 148) is an old, withdrawn deferred pension plan: premiums build a corpus during the deferment period, and at vesting the corpus buys a pension. Assuming 6% growth and a 6.5% annuity rate, someone who started at 35 and paid ₹30,000 a year for 25 years would have about ₹17.4 lakh and a pension near ₹1,13,405 a year.
New Jeevan Dhara I 148 Pension Estimator
Your estimate
from age 60
- Estimated corpus at vesting
- ₹17,44,691
- Total premium paid
- ₹7,50,000
- Vesting age
- 60 years
- Death during deferment (approx.)premiums with additions to date, at vesting
- ₹17,44,691
- Total premium paid₹7,50,00043%
- Growth during deferment₹9,94,69157%
Pension received over the years (cumulative)
| Age at entry | Pension received |
|---|---|
| 60 years | ₹0 |
| 65 years | ₹5,67,025 |
| 70 years | ₹11,34,050 |
| 75 years | ₹17,01,075 |
| 80 years | ₹22,68,100 |
| 85 years | ₹28,35,125 |
| 90 years | ₹34,02,150 |
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 New Jeevan Dhara I Plan 148?
LIC New Jeevan Dhara I (Plan 148, UIN 512N205V01) is a deferred annuity plan from LIC’s older pension range. It works in two stages:
- Deferment: you pay premiums every year until the vesting date, and the policy builds a corpus.
- Vesting: the corpus is converted into a pension, paid for life or in the pattern of the annuity option you chose.
The plan was part of the pension range LIC relaunched in the early 2000s, and it has long been withdrawn from sale. It is no longer possible to buy it, but many policies are still in deferment or already paying pensions. This page is for those policyholders. A newer plan built on the same idea was Jeevan Dhara II (Plan 872), sold during 2024. If you want a deferred pension today, look at LIC’s New Jeevan Shanti 758.
New Jeevan Dhara I at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 148 / 512N205V01 |
| Plan type | Deferred annuity (pension) plan |
| Status | Withdrawn; existing policies continue |
| Premium | Regular, payable until vesting |
| Annuity options | Life, guaranteed period then life, return of purchase price, joint life |
| Death before vesting | Value built up in the policy |
| Tax | Premium under Section 123 of the Income-tax Act, 2025 (earlier Section 80CCC); pension taxable |
Why this calculator uses your own assumptions
Plan 148’s original rate tables are not available in a form we can verify, so the calculator does not pretend to know them. Instead it projects your pension from two inputs you can match to your policy:
- Growth during deferment: the rate at which premiums and additions build up. 5% to 7% is realistic for old LIC pension policies.
- Annuity rate at vesting: yearly pension per ₹100 of corpus for a plain life annuity. Your vesting quotation from LIC shows the actual figure.
The annuity option then scales the pension: a guaranteed period, joint life or return of corpus each pay less than a plain life annuity.
Worked example
A policyholder started at 35, pays ₹30,000 a year and vests at 60 after a 25-year deferment. With 6% growth and a 6.5% annuity rate:
| Item | Estimate |
|---|---|
| Total premiums paid | ₹7,50,000 |
| Corpus at vesting | ₹17,44,691 |
| Life annuity | ₹1,13,405 a year (₹9,450 a month) |
| Life annuity with return of corpus | ₹85,054 a year (₹7,088 a month) |
Tip: ask LIC for the vesting quotation a few months before your vesting date. Enter its corpus-to-pension rate here to compare options side by side before you sign the option form.
What policyholders should check
- Vesting date and corpus: your annual statement shows the value built up.
- Commutation: many pension policies allow part of the corpus to be taken as a lump sum at vesting, with the rest converted to pension.
- Option choice: the option is fixed once the pension starts, so compare the family benefit against the lower pension before deciding.
- Nominee and bank details: update them before vesting so the first pension instalment is not delayed.
Use our pension calculator to compare with a fresh annuity purchase.
How to use this calculator
Enter your starting age, yearly premium and deferment, adjust the growth and annuity rate to match your statement, and choose an option. The calculator shows the corpus, yearly and monthly pension, total premiums and a table of pension received up to age 90. All figures are projections, not LIC quotations.
Frequently asked questions
Is LIC New Jeevan Dhara I still available?
No. Plan 148 was withdrawn many years ago and cannot be bought. Existing policies continue to vesting and then pay the pension chosen. For a new deferred pension, LIC's current annuity plans such as New Jeevan Shanti are the closest alternative.
How is the pension calculated in New Jeevan Dhara I?
Premiums paid during the deferment period, with the additions LIC credits, form the corpus at vesting. That corpus is converted into a pension using LIC's annuity rate for your age and chosen option. A higher corpus or an older vesting age gives a bigger pension.
What annuity options were available?
The plan offered a pension for life, a pension guaranteed for a fixed period and for life thereafter, a pension with return of the purchase price on death, and joint-life options that continue to the spouse. Options with a refund or guarantee pay a lower pension.
How much pension will I get on ₹30,000 a year for 25 years?
With 6% growth and a 6.5% annuity rate, the estimate is about ₹1,13,405 a year (₹9,450 a month) for a life annuity. Choosing return of corpus lowers it to about ₹85,054 a year. Your policy statement gives the real corpus.
What if the policyholder dies before vesting?
Before vesting, the nominee receives the value built up in the policy, which is broadly the premiums paid with the additions credited so far. The exact amount is set out in the policy document.
Is the pension from Plan 148 taxable?
Yes. Premiums were eligible for deduction under Section 123 (earlier 80CCC), but the pension is taxable as income in the year it is received. Up to one-third of the corpus may be commuted as a lump sum at vesting if the policy allows it.
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.