{"uin":"512N394V01","name":"LIC’s New Jeevan Sathi - Limited Premium","url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01","insurer":{"slug":"lic","name":"Life Insurance Corporation of India","url":"https://indiainsurances.com/insurer/lic"},"line":"life","category":"savings-life","category_name":"Endowment and savings plans","irdai_type":null,"kind":"product","status":"active","approved_on":null,"withdrawn_on":null,"summary":"LIC’s New Jeevan Sathi – Limited Premium is a non-par, non-linked individual savings plan for married joint lives with policy terms of 10, 15, 20 and 25 years. It pays the Sum Assured on Death on first death and, on second death, the Sum Assured on Death with accrued Guaranteed Additions at 7.00% of Total Tabular Annual Premium in respect of premiums paid.","analysis":{"state":"machine","analysed_at":"2026-10-20 00:51:56.102518+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"quote-verified","value":["Option I","Option II"],"display":"Option I and Option II death benefit options","note":"These are Death Benefit Options, not separate plan names.","quote":"Option | Sum Assured on Death\nI | Higher of 7 times of Tabular Annual Premium or Basic Sum Assured\nII | Higher of 10.5 times of Tabular Annual Premium or Basic Sum Assured","sources":[{"clause":"1(iii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-1-iii"}],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"quote-verified","value":"10, 15, 20 and 25 years.","display":"10, 15, 20 and 25 years","note":"From the sales brochure.","quote":"Policy Term | : 10, 15, 20 and 25 years\nfor both Options I & II","sources":[{"clause":"2(d)","heading":"Maximum Age at maturity","page":3,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11877#c-2-d"}],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"The policyholder or claimant must intimate LIC about the insured event resulting in a claim at the earliest possible time.","display":"At the earliest possible time","note":null,"quote":"Policyholder or the claimant, as applicable, is required to intimate the Corporation, about the happening of the insured event resulting into a claim under the insurance policy, at the earliest possible time.","sources":[{"clause":"4","heading":null,"page":2,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-4"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["claim forms, as prescribed by the Corporation","original Policy Document","NEFT mandate from the claimant for direct credit of the claim amount to the bank account","proof of title","proof of death","medical treatment prior to the death (if any)","school/college/employer’s certificate, whichever is applicable","proof of age of the Life Assured, if age is not admitted","First Information Report (FIR), Panchnama and Post Mortem report for unnatural death or accident death if called for","discharge form for maturity claim or surrender"],"display":"Death claim: claim forms, original Policy Document, NEFT mandate, proof of title, proof of death and applicable supporting documents. Maturity or surrender: discharge form, original Policy Document, NEFT mandate and proof of age if not admitted.","note":"The Corporation may also call for additional documents as required.","quote":"The normal documents which the claimant shall submit while lodging the claim in case of death of the Life Assured(s) shall be claim forms, as prescribed by the Corporation, accompanied with original Policy Document, NEFT mandate from the claimant for direct credit of the claim amount to the bank account, proof of title, proof of death, medical treatment prior to the death (if any), school/college/employer’s certificate, whichever is applicable, to the satisfaction of the Corporation. If the age is not admitted under the policy, the proof of age of the Life Assured shall also be submitted. ... In case of unnatural death or death on account of or arising from an accident, the Corporation reserves the right to call for the copies of First Information Report (FIR), Panchnama and Post Mortem report. ... Where the policy results in a Maturity Claim or in case of surrender of the policy, the Life Assured/Proposer shall submit the discharge form along with the original Policy Document, NEFT mandate from the claimant for direct credit of the claim amount to the bank account besides proof of age, if the age is not admitted earlier.","sources":[{"clause":"4(a)","heading":"Death Claim","page":16,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-4-a-3"},{"clause":"4(b)","heading":"Maturity Claim/Surrender","page":16,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-4-b-3"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"quote-verified","value":"The CIS states death claims not requiring investigations are settled in 15 days, early death claims requiring investigations take 45 days for decision and payment, and maturity claims are settled on the due date.","display":"Death claims without investigation: 15 days; early death claims requiring investigation: 45 days; maturity claims: on due date","note":"The CIS does not state from which date the 15 days or 45 days are counted.","quote":"1 | Death Claims | Death claims settlements not requiring Investigations | 15 days\nEarly Death Claims requiring investigations -decision & payment | 45 days ... 2 | Maturity Payment | Settlement of Maturity Claims | On due date","sources":[{"clause":"Row 1","heading":"Death Claims","page":4,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11854#c-row-1-2"},{"clause":"Row 2","heading":"Maturity Payment","page":4,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11854#c-row-2-2"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"First approach LIC through its Grievance Redressal Officers at Branch, Divisional, Zonal or Central Office, the Customer Portal, or co_complaints@licindia.com. If not satisfied or no response is received within 15 days, the customer may approach IRDAI, and claim-related grievances may also go to the Insurance Ombudsman.","display":"LIC GROs at Branch/Divisional/Zonal/Central Office, Customer Portal or co_complaints@licindia.com; then IRDAI after 15 days, and Ombudsman for claim grievances","note":null,"quote":"The Corporation has Grievance Redressal Officers (GROs) at Branch/ Divisional/ Zonal/ Central Office to\nredress | grievances | of | customers. ... Customers can also contact at e-mail id co_complaints@licindia.com for redressal of any grievances. ... In case the customer is not satisfied with the response or does not receive a response from us within 15 days, then the customer may approach the Policyholder’s Protection and Grievance Redressal Department ... For redressal of Claims related grievances, claimants can also approach Insurance Ombudsman","sources":[{"clause":"Section 45","heading":"of Insurance Act 1938","page":17,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-section-45"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"quote-verified","value":"The minimum Basic Sum Assured is Rs 3,00,000 and there is no maximum limit, subject to LIC's Board Approved Underwriting policy. Sum Assured on Death is higher of 7 times the Tabular Annual Premium or Basic Sum Assured under Option I, and higher of 10.5 times the Tabular Annual Premium or Basic Sum Assured under Option II.","display":"Minimum Basic Sum Assured Rs 3,00,000; maximum no limits subject to underwriting. Sum Assured on Death is higher of 7 times or 10.5 times Tabular Annual Premium and Basic Sum Assured, depending on option.","note":"Basic Sum Assured limits are from the sales brochure.","quote":"g. Minimum Basic Sum Assured : Rs 3,00,000/-.\nh. Maximum Basic Sum Assured: No limits. However, the maximum Basic Sum Assured allowed to each individual will be Subject to Board Approved Underwriting policy. ... Option | Sum Assured on Death\nI | Higher of 7 times of Tabular Annual Premium or Basic Sum Assured\nII | Higher of 10.5 times of Tabular Annual Premium or Basic Sum Assured","sources":[{"clause":"2(d)","heading":"Maximum Age at maturity","page":3,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11877#c-2-d"},{"clause":"1(iii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-1-iii"}],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"quote-verified","value":"On first death during the policy term under an in-force policy, Sum Assured on Death is paid to the surviving Life Assured and the policy continues. On second death, Sum Assured on Death plus accrued Guaranteed Additions is paid and the policy terminates; simultaneous death pays the sum of the first-death and second-death benefits. Sum Assured on Death is higher of 7 times Tabular Annual Premium or Basic Sum Assured under Option I, and higher of 10.5 times Tabular Annual Premium or Basic Sum Assured under Option II.","display":"First death: Sum Assured on Death to surviving Life Assured and policy continues. Second death: Sum Assured on Death plus accrued Guaranteed Additions, at least 105% of Total Premiums Paid up to death, and policy terminates. Simultaneous death: sum of applicable first and second death benefits.","note":"Further base-policy premiums from the policy anniversary following first death are waived, but rider premiums for the surviving Life Assured are not waived.","quote":"On first death during the Policy Term, after the date of commencement of risk, but before the stipulated Date of Maturity, “Sum Assured on Death” shall be payable to the surviving Life Assured. Such policy shall continue for the surviving Life Assured. ... On second death during the Policy Term, after the date of commencement of risk, but before the stipulated Date of Maturity, “Sum Assured on Death” along with accrued Guaranteed Additions shall be payable to the beneficiary(ies) and the policy shall terminate. This Death Benefit shall not be less than 105% of Total Premiums Paid up to the date of death. ... On simultaneous death of both lives assured after the date of commencement of risk, but before the stipulated Date of Maturity, Sum of applicable death benefit under first death and second death as specified above shall be payable to the beneficiary(ies) and the policy shall terminate.\nThe “Sum Assured on Death” shall depend upon the Death Benefit Option chosen and shall be as under:\nOption | Sum Assured on Death\nI | Higher of 7 times of Tabular Annual Premium or Basic Sum Assured\nII | Higher of 10.5 times of Tabular Annual Premium or Basic Sum Assured","sources":[{"clause":"1(i)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-1-i"},{"clause":"1(ii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-1-ii"},{"clause":"1(iii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-1-iii"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"quote-verified","value":"On survival of at least one of the lives assured on the stipulated Date of Maturity, under an in-force policy, Sum Assured on Maturity plus accrued Guaranteed Additions is payable. Sum Assured on Maturity is equal to Basic Sum Assured, and the Policyholder may take it in a lump sum and/or instalments through the Settlement Option.","display":"Sum Assured on Maturity, equal to Basic Sum Assured, plus accrued Guaranteed Additions; lump sum and/or Settlement Option instalments","note":null,"quote":"On survival of atleast one of the lives assured on the stipulated Date of Maturity, provided the policy is in-force, “Sum Assured on Maturity” along with accrued Guaranteed Additions for an in-force policy, shall be payable, where “Sum Assured on Maturity” is equal to Basic Sum Assured.\nThe Policyholder shall have an option to receive the Maturity Benefit in lumpsum as specified above and/ or in instalments (Settlement Option); as specified in Condition 9 of Part D of this Policy Document.","sources":[{"clause":"1(iii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-1-iii"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"Premiums are payable for 5, 10 or 15 years.","display":"5, 10 and 15 years","note":"From the sales brochure.","quote":"f. Premium Payment Term : 5, 10 and 15 years","sources":[{"clause":"2(d)","heading":"Maximum Age at maturity","page":3,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11877#c-2-d"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"Maximum age at maturity is 75 years nearer birthday under Option I and 60 years nearer birthday under Option II.","display":"Option I: 75 years; Option II: 60 years","note":"From the sales brochure.","quote":"d) Maximum Age at maturity : Option I: 75 years (nearer birthday) Option II: 60 years (nearer birthday)","sources":[{"clause":"2(d)","heading":"Maximum Age at maturity","page":3,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11877#c-2-d"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"quote-verified","value":"If either life assured or both lives assured simultaneously die by suicide within 12 months from commencement of risk or revival, the surviving Life Assured, nominee or beneficiary is entitled to 80% of Total Premium paid till death or the surrender value available on the date of death, whichever is higher, provided the policy is in-force. The clause does not apply to a policy lapsed without acquiring paid-up value, where nothing is payable.","display":"Within 12 months: 80% of Total Premium paid till death or surrender value, whichever is higher, if in-force","note":"Premium for this purpose excludes taxes, extra premium and rider premiums other than Term Assurance Rider premium.","quote":"In case of death due to suicide of either Life Assured or both Lives Assured simultaneously within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy as applicable, the surviving Life Assured /Nominee/ Beneficiary of the Policyholder, as applicable shall be entitled to 80% of the Total Premium paid till the date of death or Surrender value available as on the date of death, whichever is higher, provided the policy is in-force. ... The above mentioned clause shall not be applicable for a policy lapsed without acquiring paid-up value and nothing shall be payable under such policies.","sources":[{"clause":"2","heading":"Suicide Exclusion","page":16,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-2-5"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"quote-verified","value":"The policy can be surrendered after completion of the first policy year if one full year's premium has been paid. On surrender of an in-force or paid-up policy, LIC pays the higher of Guaranteed Surrender Value plus surrender value of accrued Guaranteed Additions, or Special Surrender Value; GSV is acquired after payment of at least two full years' premiums and SSV after completion of the first policy year with one full year's premium paid.","display":"Surrender after first policy year with one full year's premium paid; pays higher of GSV plus surrender value of accrued Guaranteed Additions or Special Surrender Value","note":"No surrender value is available on riders; upon payment of surrender value, the policy terminates.","quote":"The policy can be surrendered after completion of first policy year provided one full year’s premium(s) has been paid.\nOn surrender of an in-force or Paid-up policy, the Corporation shall pay the Surrender Value higher of ... a) Guaranteed Surrender Value (GSV) and Surrender Value of any accrued Guaranteed Additions; or ... b) Special Surrender Value. ... The policy shall acquire Guaranteed Surrender Value on payment of atleast two full year’s premiums. ... The policy shall acquire Special Surrender Value after completion of first policy year provided one full year’s premium(s) has been paid.","sources":[{"clause":"4","heading":"Surrender","page":12,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-4-4"},{"clause":"4(a)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-4-a"},{"clause":"4(b)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-4-b"},{"clause":"4(a)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-4-a-2"},{"clause":"4(b)","heading":null,"page":13,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-4-b-2"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"quote-verified","value":"If at least one full year's premium has been paid and later premiums are not duly paid on completion of the first policy year, the policy subsists as a paid-up policy until survival of one life assured or the end of the policy term, whichever is earlier. Death Paid-up Sum Assured and Maturity Paid-up Sum Assured are the respective original sums multiplied by the ratio of the premium-paid period to the maximum original premium-paying period, with accrued Guaranteed Additions for a paid-up policy.","display":"Paid-up after at least one full year's premium; death and maturity sums reduce by paid-premium-period divided by original premium-paying period","note":"Riders do not acquire any paid-up value.","quote":"If, after at least one full year premium(s) has been paid in respect of this policy and any subsequent premiums be not duly paid on completion of first policy year, this policy shall not be wholly void, but shall subsist as a paid-up policy till the survival of one of the lives assured or till the end of the Policy Term, whichever is earlier.\nThe “Sum Assured on Death” under a paid up policy shall be reduced to such a sum called “Death Paidup Sum Assured” and shall be equal to “Sum Assured on Death” multiplied by the ratio of the total period for which premiums have already been paid bears to the maximum period for which premiums were originally payable. ... The “Sum Assured on Maturity” under a paid-up policy shall be reduced to such a sum called “Maturity Paid-up Sum Assured” and shall be equal to “Sum Assured on Maturity” multiplied by the ratio of the total period for which premiums have already been paid bears to the maximum period for which premiums were originally payable.","sources":[{"clause":"2(ii)","heading":null,"page":10,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-2-ii"},{"clause":"2(iii)","heading":null,"page":11,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-2-iii"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"A lapsed policy may be revived during the lifetime of both lives assured, within the Revival Period and before maturity, by paying all arrears of premiums with interest and satisfying continued insurability. The Revival Period is five consecutive complete years from the date of first unpaid premium.","display":"Within five consecutive complete years from the date of first unpaid premium","note":"Revival is subject to LIC accepting continued insurability and issuing the revival receipt.","quote":"Revival Period means the period of five consecutive complete years from the date of first unpaid premium, during which period the Policyholder is entitled to revive the policy which was discontinued due to the non-payment of premium. ... A policy in lapsed condition may be revived during the life time of both the lives assured, but within the Revival period and before the Date of Maturity, as the case may be. The revival shall be effected on payment of all the arrears of premium(s) together with interest","sources":[{"clause":"47","heading":"Revival Period","page":6,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-47"},{"clause":"3","heading":"Revival of lapsed Policies","page":12,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-3-4"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"quote-verified","value":"Loan is available under the policy within the surrender value if at least one full year's premium has been paid. The maximum loan is up to 75% of surrender value for in-force policies and up to 50% for paid-up policies.","display":"Available after at least one full year's premium; up to 75% of surrender value for in-force policies and up to 50% for paid-up policies","note":null,"quote":"Loan shall be available under the Policy within the surrender value of the policy subject to the following terms and conditions: ... Loan can be availed by the Policyholder, provided at least one full year premium(s) has been paid. ... The maximum loan available as a percentage of surrender value shall be as under:\n• For inforce policies: upto 75 %\n• For paid-up policies: upto 50 %","sources":[{"clause":"5","heading":"Policy Loan","page":13,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-5-4"},{"clause":"5(i)","heading":null,"page":13,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-5-i"},{"clause":"5(ii)","heading":null,"page":13,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-5-ii"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"quote-verified","value":["LIC’s Accident Benefit Rider","LIC’s New Term Assurance Rider","LIC’s Critical Illness Health Rider"],"display":"LIC’s Accident Benefit Rider; LIC’s New Term Assurance Rider; LIC’s Critical Illness Health Rider","note":"Accident Benefit Rider can be opted within the base policy premium-paying term subject to at least five years outstanding; the New Term Assurance Rider and Critical Illness Health Rider are available only at inception.","quote":"The following three rider(s) (or amended version of these rider) shall be available under both the Options on payment of additional premium. These riders shall be available for both lives assured.\n1) LIC’s Accident Benefit Rider\n2) LIC’s New Term Assurance Rider\n3) LIC’s Critical Illness Health Rider","sources":[{"clause":"3","heading":"Rider Benefit","page":9,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-3-3"}],"law":[]},{"key":"section45","label":"Claims after 3 years (Section 45)","section":"Claims","meaning":"After 3 years a life policy cannot be questioned on any ground, and only for fraud with proof before that.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"not-stated","value":null,"display":null,"note":"The policy wording only states statutory taxes are payable separately and not counted for benefit calculation; no tax benefit is stated.","quote":null,"sources":[],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":null,"quote":"During the Free Look period of 30 days from the date of receipt of the electronic or physical mode of Policy Document, whichever is earlier, by the Policyholder, if the Policyholder is not satisfied with the Terms and Conditions of the policy, he/she may return the policy to the Corporation stating the reason of objections.","sources":[{"clause":"7","heading":"Free look period","page":14,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-7-3"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days for yearly, half-yearly or quarterly premiums; 15 days for monthly premiums","note":"The norm uses 30 days; monthly premium mode has a 15-day grace period.","quote":"A grace period of 30 days shall be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly premiums from the date of First Unpaid Premium.","sources":[{"clause":"5","heading":"Grace Period","page":9,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-5-3"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"quote-verified","value":"Minimum age at entry is 18 years completed for both lives. Maximum age at entry depends on Death Benefit Option, premium-paying term and policy term; the highest maximum shown is 50 years nearer birthday under Option I, while Option II maximums are 40 years or 35 years for 25-year policy terms.","display":"Minimum 18 years completed; maximum up to 50 years under Option I and up to 40 years under Option II, with 35 years for Option II 25-year terms","note":"Maximum age at entry is from the sales brochure.","quote":"Age is the age nearer birthday of the Life Assured(s) at the time of commencement of the policy except at the minimum age at entry which is 18 years completed. ... b) Maximum Age at entry (For both lives):\nPremium Payment Term (in years) | Policy Term (in years) | Maximum Age at Entry under Option I (in years) (nearer birthday) | Maximum Age at Entry under Option II (in years) (nearer birthday)\n5 | 10 | 45 | 40\n5 | 15 | 45 | 40\n5 | 20 | 45 | 40\n5 | 25 | 45 | 35\n10 | 15 | 50 | 40\n10 | 20 | 50 | 40\n10 | 25 | 50 | 35\n15 | 20 | 50 | 40\n15 | 25 | 50 | 35","sources":[{"clause":"1","heading":null,"page":5,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-1-2"},{"clause":"2(b)","heading":null,"page":3,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11877#c-2-b"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["yearly","half-yearly","quarterly","monthly intervals (monthly premiums through NACH only)","salary deductions"],"display":"Yearly, half-yearly, quarterly, monthly through NACH only, or salary deductions","note":"From the sales brochure.","quote":"Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly intervals (monthly premiums through NACH only) or through salary deductions.","sources":[{"clause":"6","heading":"PAYMENT OF PREMIUMS","page":11,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11877#c-6"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"quote-verified","value":["Limited Premium"],"display":"Limited Premium","note":null,"quote":"LIC’s New Jeevan Sathi – Limited Premium (UIN : 512N394V01)","sources":[{"clause":null,"heading":"LIC’s New Jeevan Sathi – Limited Premium (UIN : 512N394V01)","page":1,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-lics-new-jeevan-sathi-limited-premium-uin-512n39"}],"law":[]},{"key":"guaranteed_benefits","label":"Guaranteed benefits","section":"Cover","meaning":"What is guaranteed, in rupees or as a formula, regardless of the insurer's performance.","status":"quote-verified","value":"Under this non-par policy, benefits payable on death or maturity are guaranteed and fixed as per the policy terms. Guaranteed Additions accrue at 7.00% of Total Tabular Annual Premium in respect of premiums paid; Sum Assured on Maturity equals Basic Sum Assured, and Sum Assured on Death follows the selected Option I or Option II formula.","display":"Guaranteed death and maturity benefits; Guaranteed Additions at 7.00% of Total Tabular Annual Premium in respect of premiums paid","note":"Any applicable incentives increase the Rate of Guaranteed Additions and are specified in the policy schedule.","quote":"Under such non-par policies, the benefits payable on death or maturity are guaranteed and fixed as per the terms and conditions of the policy. ... Option | Sum Assured on Death\nI | Higher of 7 times of Tabular Annual Premium or Basic Sum Assured\nII | Higher of 10.5 times of Tabular Annual Premium or Basic Sum Assured ... “Sum Assured on Maturity” is equal to Basic Sum Assured. ... The Rate of Guaranteed Additions for an in-force policy shall be 7.00% of Total Tabular Annual Premium in respect of premiums paid.","sources":[{"clause":"33","heading":"Non-Par products","page":6,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-33"},{"clause":"1(iii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-1-iii"},{"clause":"2","heading":"Guaranteed Additions for In-force policy","page":8,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-2-3"}],"law":[]},{"key":"bonus","label":"Bonus type","section":"Cover","meaning":"Participating plans share profits as bonuses; these are NOT guaranteed.","status":"quote-verified","value":"There is no bonus or profit share under the base policy because it is a non-par product and such policies are not entitled to any share in surplus during the policy term.","display":"No bonus; non-par, not entitled to share in surplus","note":null,"quote":"Non-Par products means Products where policies are not entitled for any share in surplus (profits) during the term of the policy.","sources":[{"clause":"33","heading":"Non-Par products","page":6,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-33"}],"law":[]},{"key":"illustration_returns","label":"Illustrated returns","section":"Cover","meaning":"The benefit illustration at the IRDAI rates (4% and 8%); not a promise.","status":"not-stated","value":null,"display":null,"note":"The extracted clauses include sample benefit illustrations, but no IRDAI 4% and 8% illustrated returns are stated.","quote":null,"sources":[],"law":[]},{"key":"money_back","label":"Survival or money-back payouts","section":"Cover","meaning":"Instalments paid during the term.","status":"quote-verified","value":"No separate survival or money-back instalments during the policy term are stated. The survival benefit stated is the maturity benefit payable on the stipulated Date of Maturity if at least one life assured survives.","display":"No stated money-back instalments during the term; survival benefit is payable at maturity","note":"The policy also offers an instalment Settlement Option for the maturity benefit, but that is for maturity proceeds rather than instalments during the policy term.","quote":"The following benefits are payable under an in-force policy ... On survival of atleast one of the lives assured on the stipulated Date of Maturity, provided the policy is in-force, “Sum Assured on Maturity” along with accrued Guaranteed Additions for an in-force policy, shall be payable, where “Sum Assured on Maturity” is equal to Basic Sum Assured.","sources":[{"clause":"1","heading":"The following benefits are payable under an in-force policy","page":8,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-1-3"},{"clause":"1(iii)","heading":null,"page":8,"url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867#c-1-iii"}],"law":[]}],"documents":[{"kind":"wording","label":"Policy Document","pages":22,"fetched_at":"2026-10-17 19:50:14+00","source_url":"https://licindia.in/documents/20121/1795076/Final+Policy+Document-LIC%27s+New+Jeevan+Sathi_LP_22052026.pdf/49916f9f-398e-88eb-b1de-d14b4896e028?t=1779472137673","url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11867"},{"kind":"cis","label":"CIS LIC's Bima Lakshmi","pages":6,"fetched_at":"2026-10-17 19:49:52+00","source_url":"https://licindia.in/documents/20121/1795076/Final+CIS+_LIC%27s+New+Jeevan+sathi_LP_22052026.pdf/2b6d3e89-42f4-0132-4d2a-557e7452f050?t=1779472138428","url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11854"},{"kind":"brochure","label":"Sales Brochure","pages":32,"fetched_at":"2026-10-17 19:50:24+00","source_url":"https://licindia.in/documents/20121/1795076/102905+-+LIC%27s+New+Jeevan+Sathi+Limited+Premium+Sales+Brochure_14-April-2026.pdf/1928bab1-3b80-aecb-6b70-b381418f7e30?t=1779472135982","url":"https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01/document/11877"}],"versions":[],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"LIC official website","url":"https://www.licindia.in/","note":"Buy directly from the insurer."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"insurer","name":"Claims settlement requirements","url":"https://licindia.in/web/guest/claims-settlement-requirements","note":null},{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"insurer","name":"Grievance redressal","url":"https://licindia.in/web/guest/grievances","note":null},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"LIC’s New Jeevan Sathi - Limited Premium (UIN 512N394V01), IndiaInsurances, https://indiainsurances.com/policy/lic/lics-new-jeevan-sathi-limited-premium-512n394v01"}