LIC New Jeevan Suraksha -I Bonus Rates

LIC New Jeevan Suraksha -I

LIC New Jeevan Suraksha-1 Plan is a non-unit linked pension plan with bonus deferred annuity plan. The collection is created to provide pension for old age after Vesting Date. In this plan, the premium is paid through the entire policy term, i.e. till the pension starts from the Vesting Date. At the beginning of the plan, the policy holder gets to select a Notional Cash Option which along with accrued bonuses forms the maturity proceeds.

25 per cent of the entire maturity proceeds including the bonus can be withdrawn by the policy holder, and receive a lump sum amount on Vesting. The remaining 75 per cent needs to be converted into annuity. A policy holder can choose from 5 annuity plans. An additional 3 % rebate would be provided on the purchase price of the annuity at the Vesting Date. At the time of Vesting, the annuity rates of LIC Jeevan Akshay VI Plan would be considered.

All premiums paid plus interest on the same is returned, if the policy holder dies before the start of pension. If the demise of policy holder occurs after the Vesting Date, then it entirely depends upon the pension option whether any Death Benefit would be payable or not.

LIC New Jeevan Suraksha -1 Plan Eligibility Criteria

Term Age Sum
Minimum 2 18 50000
Maximum 35 70 No Limits

Premium Ceasing Age– 79

Premium Ceasing Term– 0

Key Features of LIC Jeevan Suraksha- I

LIC Jeevan Suraksha- I is a profit personal pension plan suitable for everyone who wants to provide regular financial support to their family. This plan is more suitable for employees, businessmen and retired person.

Here are some key features of LIC Jeevan Suraksha-I Plan-

Paid Benefits-

In this policy, if two full years premiums are paid, and any subsequent premium is not duly paid, then the policy will not be considered wholly void, but the amount of Notional Cash Option will be reduced to a sum as will bear the same ratio to the original, as the number of premiums being actually paid will bear to the total number of premiums originally stipulated in the policy.

This way the policy will be free from all liabilities for payment of the within mentioned premiums, but will not be entitled to participate in future profits. The reduced annuity payable on vesting will be determined on the basis of existing vested bonus additions that will be attached to the reduced paid up policy. On the vesting age, the option of commutation of 25 per cent pension will also be available.

The LIC will have the right to change the mode of payment of annuity, if the annuity payable is less than the minimum of Rs. 250, to yearly, half-yearly or quarterly or to pay a lump sum which is subject to deduction of tax in any, as per taxation rules. The life cover will cease, the premiums are not paid within the days of grace.


  1. Term rider options are available.
  2. If the policy holder has opted for term assurance rider, and he or she dies, the term assurance sum assured along with all premiums excluding term Assurance premium and extra premium (if any) will be paid up to the date of death at the rate of 5 per cent per annum compounding or at the rate decided by the corporation from time to time will be paid to the nominee. When policy is not in action, only return of premiums with interest will be available.
  3. Those who do not opt for the Term Assurance Rider, all premiums will be accumulated at 5 per cent per annum compounding or at the rates decided by the corporation from time to time and will be paid to the nominee. Term Rider option will be only available on the Annual Premium Plan.

Annuitants can choose from below mentioned options at least 6 months before the date of vesting-

  • Pension for life
  • Pension guaranteed for 5, 10, 15, 20 years and life.
  • Pension for life with return of purchase price.
  • Pension for life with pension increasing at a simple rate of 3 per cent per annum.

Surrender Value-

  1. Surrender value is provided after two years from the date of commencement and during deferment stage for annual premium policies (if at least two years full premium has been paid).
  2. Surrender value is given one year after the date of commencement and during deferment period, for single premium policies.

LIC New Jeevan Suraksha- I Plan Bonus Rate

Plan Term Reversionary Bonus Rate
%o Sum Assured (**)
Interim Bonus Rate
% Sum Assured (**)
New Jeevan Suraksha – I (Plan 147) < 6 21 21
6 to 10 27 27
11 to 15 31 31
>15 35 35


LIC Jeevan Suraksha- I is a deferred pension plan with bonus facility. Under this, the Death Benefit after vesting date depends upon the annuity option chosen by the policy holder. The Notional Cash Option with reversionary bonuses and final additional bonuses will be converted into annuity.

Other LIC Plans :-

LIC New Jeevan Anand | LIC Jeevan Labh | LIC Jeevan Lakshya | LIC Jeevan Amrit | LIC Jeevan Market Plus | LIC Jeevan Bharti-I Plan | LIC Jeevan Madhur  | LIC Jeevan Pragati | LIC Jeevan Tarun | LIC Health Plan

LIC Services :-

LIC Premium Payment Options | LIC Premium Calculator | LIC Login Process | LIC e-Services | LIC Customer Care | Link Aadhaar with LIC Policy | LIC Penalty Fee for Late Premium Payment | LIC Premium through Credit Card

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