1. Health & Lifestyle

Know About the Features, Eligibility & Benefits of LIC’s Navjeevan Plan 853

Abha Toppo
Abha Toppo
LIC Navjeevan

The Life Insurance Corporation (LIC) has introduced a new plan for its customers – ‘Navjeevan Plan No.853’; a new non-linked, with profit endowment assurance plan effective from 18th March 2019.

Navjeevan Plan, which means a new life, is available in 2 premium modes for the customers.

  • Single premium (one-time payment)

  • Five year limited premium period.

Key Features of Navjeevan Plan No.853

Here are the most important features of the new LIC Navjeevan Plan:

  • 10 to 18 years term plan.

  • Premium paying term – Single or Five

  • For the single payment mode – absolute death sum assured will be 10 times of tabular single premium - 10 times of annualized premium or 7 times of annualized premium.

  • If an individual is below 45 years of age then absolute death sum assured will be 10 times of annualized premium.

  • Loan facility is available in this plan.

  • This plan is provided with optional accidental rider & disability benefit rider.


Eligibility of Navjeevan Plan No.853

Premium Mode




Single Premium

Age at Entry

90 Day Completed

44 years

Regular Premium

Age at Entry

90 days (option 1)

45 Years (option 2)

60 years

65 years



10 years

18 years



1 Lakh

No Limit

Premium and Benefit Calculator

Online premium and benefit calculator of LIC’s new Navjeevan Plan No.853 is aimed at helping the customers understand all the benefits of the plan without any difficulty. It will also help the customers calculate premium payable for different modes and avail the benefits like maturity benefit, insurance coverage and tax benefits.

Navjeevan Plan No.853 Maturity Benefit

If the policyholder survives till the end of the policy period and the entire due premium payments have already been made - ‘Sum Assured on Maturity’ along with Loyalty Additions or LA if any are payable. (Note: sum assured on maturity is equal to basic sum assured.)


Navjeevan Plan No.853 Death Benefit

If by chance the life assured dies prior to the date of maturity and policy is in force condition then the benefits payable to the nominee or assignee is as follows:

1. On death during the first 5 policy years

Before the date of beginning of risk - Refund of premium without any interest.

After the date of commencement of the risk - “Sum Assured on Death” is payable

2. On death during after completion of five policy years but before the date of maturity

Sum Assured on Death with Loyalty Addition if any, will be payable

Unique Benefits of Navjeevan Plan No.853

The LIC’s Navjeevan plan has some unique features for their customers that may be useful at times. Let’s have a look at it:

  • Is Income Tax Ready

  • Is Single Premium with DAB

  • Is Senior citizen Ready – Max age at entry of 65 years

  • Is Tax Free Pension Ready

 For more details and information you can visit the official website of LIC – www.licindia.in

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