LIC New Jeevan Nidhi 812 is a with-profit pension plan sold from 24 December 2012 to 1 December 2013. Premiums build a corpus of sum assured, guaranteed additions and bonus that buys a pension at a vesting age of 55 to 65. For a 35-year-old with ₹5 lakh cover vesting at 60, our estimate is about ₹25,943 a year (no GST now) and a corpus near ₹11 lakh.
New Jeevan Nidhi 812 Premium & Pension Calculator
Your estimate
- Premium per instalment
- ₹21,574
- Deferment period
- 30 years
- Total premium paid
- ₹6,47,220
- Guaranteed additions
- ₹1,25,000
- Total bonus (estimated)
- ₹5,62,500
- Final additional bonusassumed 5% of sum assured, not guaranteed
- ₹25,000
- Lump sum you can commute (1/3)
- ₹4,04,167
- Yearly pensionfrom the remaining 2/3 of the corpus
- ₹56,583
- Monthly pension
- ₹4,715
- Vesting age
- 60 years
- Total premium paid₹6,47,22053%
- Net gain₹5,65,28047%
Death benefit by policy year (sum assured + additions + bonus)
| Policy year | Age at entry | Premium paid | Death benefit |
|---|---|---|---|
| 1 | 31 | ₹21,574 | ₹5,25,000 |
| 2 | 32 | ₹43,148 | ₹5,50,000 |
| 3 | 33 | ₹64,722 | ₹5,75,000 |
| 4 | 34 | ₹86,296 | ₹6,00,000 |
| 5 | 35 | ₹1,07,870 | ₹6,25,000 |
| 10 | 40 | ₹2,15,740 | ₹7,37,500 |
| 15 | 45 | ₹3,23,610 | ₹8,50,000 |
| 20 | 50 | ₹4,31,480 | ₹9,62,500 |
| 25 | 55 | ₹5,39,350 | ₹10,75,000 |
| 30 | 60 | ₹6,47,220 | ₹11,87,500 |
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 Nidhi Plan 812?
LIC New Jeevan Nidhi (Plan 812) is a with-profit deferred annuity plan. You save through the policy until a chosen vesting age, and the money that builds up is then turned into a pension. Until vesting, the policy also carries life cover for your family.
Plan 812 had a short life. LIC launched it on 24 December 2012 and withdrew it on 1 December 2013, after new IRDA product rules came in. It replaced the older Jeevan Nidhi 169 and was itself followed by New Jeevan Nidhi 818. If you hold an 812 policy, the calculator above estimates your premium, your corpus at vesting and the pension it could buy.
New Jeevan Nidhi 812 at a glance
| Feature | Details |
|---|---|
| Plan number | 812 |
| Plan type | With-profit deferred annuity (pension) |
| Entry age | 20 to 58 years (single premium: up to 60) |
| Vesting age | 55 to 65 years |
| Deferment period | 5 to 35 years |
| Minimum sum assured | ₹1,00,000 regular, ₹1,50,000 single (no maximum) |
| Premium modes | Yearly, half-yearly, quarterly, monthly (ECS/salary), single |
| Grace period | 1 month (15 days for monthly mode) |
| Guaranteed additions | ₹50 per ₹1,000 sum assured in years 1 to 5 |
| Bonus | Reversionary bonus from year 6, plus final additional bonus |
| Loan | Not available |
| Status | Withdrawn on 1 December 2013 |
How the premium is estimated
The premium depends on your entry age, the deferment period and the sum assured. The calculator sets a level premium that pays for the sum assured and the guaranteed additions over the deferment, adds a small charge for life cover and gives a 2% rebate on covers of ₹3 lakh or more. Half-yearly, quarterly and monthly instalments carry a small loading. No GST is added: individual life and pension premiums are GST-exempt from 22 September 2025. Before that date, LIC charged 4.5% in year one and 2.25% after.
Worked example: a 35-year-old buys ₹5 lakh sum assured with vesting at 60 (25 years of deferment).
- Estimated premium: ₹25,943 a year, the full amount payable as no GST applies
- Total premiums over 25 years: ₹6,48,575
- Guaranteed additions: ₹1,25,000
- Reversionary bonus at an assumed ₹45 for 20 years: ₹4,50,000
- Final additional bonus, assumed at 5% of sum assured: ₹25,000
- Corpus at 60: about ₹11,00,000
For a single premium, a 45-year-old with ₹3 lakh sum assured vesting at 60 would pay about ₹2,13,744 once, with an estimated corpus of ₹5,25,000.
Tip: bonus is not guaranteed. Try the calculator with ₹35 and with ₹50 to see how much the corpus could swing.
Vesting: lump sum and pension
At vesting you may commute (take in cash) up to one-third of the corpus tax-free. The remaining two-thirds must buy an annuity from LIC at the rates that apply on that date. In the example, one-third is ₹3,66,667. If the balance earns a 7% annuity, the pension is about ₹51,333 a year (₹4,278 a month). Change the annuity rate field to test other rates.
Death benefit
- Death in the first five years: sum assured plus guaranteed additions.
- Death after five years: sum assured, guaranteed additions, reversionary bonuses and any final additional bonus.
The table below the calculator shows the estimated claim amount by policy year. Suicide within the first year leads to a limited payout under the policy’s exclusion clause.
Surrender, riders and tax
- Surrender: allowed after three full years of premiums and before vesting. Our surrender value calculator gives a rough estimate.
- Rider: an accidental death and disability benefit rider was available for an extra premium.
- Tax: premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80CCC). The commuted lump sum is tax-free, while the pension is taxed as income.
Plan 812 vs Plan 169 and Plan 818
Compared with Jeevan Nidhi 169, Plan 812 narrowed the vesting window to 55–65 (from 40–75), set the minimum entry age at 20, and doubled the minimum sum assured to ₹1 lakh. The ₹50-per-₹1,000 guaranteed additions stayed the same. Plan 818, the next version, kept the 55–65 vesting range but required at least 7 years of deferment for regular premium. None of the three can be bought now. For fresh retirement planning, use our LIC pension calculator.
How to use this calculator
Take your entry age, vesting age and sum assured from the policy bond, select regular or single premium, and pick your payment mode. The results show the premium, the total you will pay, the corpus at vesting, the tax-free lump sum and an estimated pension. All figures are estimates; your policy documents and LIC’s bonus statements give the exact values.
Frequently asked questions
Is LIC New Jeevan Nidhi 812 still available?
No. Plan 812 was on sale for about a year, from 24 December 2012 to 1 December 2013. Existing policies run until vesting. LIC then launched New Jeevan Nidhi 818, which has also since been withdrawn.
What is the vesting age in New Jeevan Nidhi 812?
You choose a vesting age between 55 and 65 when you buy the policy. The gap between your entry age and vesting age is the deferment period, which must be 5 to 35 years. Your pension starts at the vesting age.
How much guaranteed addition does Plan 812 give?
For the first five policy years, LIC adds ₹50 for every ₹1,000 of basic sum assured each year. A ₹5 lakh policy therefore earns ₹1.25 lakh in guaranteed additions. Reversionary bonuses, which are not guaranteed, are added from the sixth year.
What does the nominee get if the policyholder dies before vesting?
In the first five years, the nominee gets the sum assured plus guaranteed additions. After that, the claim is the sum assured, guaranteed additions, accrued reversionary bonuses and any final additional bonus. The amount can be taken as cash or used to buy an annuity.
Can I take a loan on New Jeevan Nidhi 812?
No. As a pension product, Plan 812 does not offer policy loans. The policy can be surrendered after three full years of premiums, but the surrender value is usually much lower than the corpus you would get at vesting.
How is the New Jeevan Nidhi 812 pension taxed?
Premiums qualified under Section 123 (earlier 80CCC) within the ₹1.5 lakh limit (old tax regime). Up to one-third of the corpus can be commuted tax-free at vesting. The pension you receive afterwards is taxable as income in the year it is paid.
What was the minimum sum assured in Plan 812?
The minimum basic sum assured was ₹1,00,000 for regular premium and ₹1,50,000 for single premium, with no upper limit. That is twice the ₹50,000 minimum of the older Jeevan Nidhi Plan 169.
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.