LIC's Jeevan Nidhi is a deferred annuity (pension) plan that provides risk cover during the deferment period and guaranteed pension payments after vesting. Premiums can be paid annually or as a lump sum. The plan offers guaranteed additions, bonuses, and a choice of annuity payout options at vesting between 40-75 years old. Rider benefits include term assurance, critical illness coverage, and premium waiver in case of critical illness. The plan aims to provide retirement income after one stops earning or earns less.

1. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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2. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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• Retirement PlanningRetirement Planning
– Why?Why?
» To support and sustain the existing lifestyle afterTo support and sustain the existing lifestyle after
retirement when income either ceases or declinesretirement when income either ceases or declines
considerably.considerably.
– What are the solutions?What are the solutions?
» PensionPension
– What is Pension?What is Pension?
» Regular or periodic payments made in considerationRegular or periodic payments made in consideration
either of past service or contributions to the pensioneither of past service or contributions to the pension
fund.fund.

3. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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• Retirement PlanningRetirement Planning
– NeedNeed
» Increased longevityIncreased longevity
» Declining incomeDeclining income
» Rising medical costsRising medical costs
» Disintegration of traditional joint family systemDisintegration of traditional joint family system
» Maintenance of same standard of livingMaintenance of same standard of living
– FactsFacts
» Persons aged > 60 will be 113 million by 2016Persons aged > 60 will be 113 million by 2016
» Average educated Indian is expected to live 20 yearsAverage educated Indian is expected to live 20 years
beyond his retirement at 60 yearsbeyond his retirement at 60 years

4. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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• Introduction:Introduction:
– LIC’s JEEVAN NIDHI is a with profitsLIC’s JEEVAN NIDHI is a with profits DeferredDeferred
AnnuityAnnuity (Pension) plan.(Pension) plan.
– On survival of the policyholder beyond term of the policy theOn survival of the policyholder beyond term of the policy the
accumulated amount (i.e. Sum Assured + Guaranteedaccumulated amount (i.e. Sum Assured + Guaranteed
Additions + Bonuses) is used to generate a pension (annuity)Additions + Bonuses) is used to generate a pension (annuity)
for the policyholder.for the policyholder.
– The plan also provides a risk cover during the defermentThe plan also provides a risk cover during the deferment
period.period.
– The USP of the plan being the pension can commence at 40The USP of the plan being the pension can commence at 40
years.years.

5. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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• FeaturesFeatures
– Risk Cover:Risk Cover:
» Sum Assured under basic plan + Optional accidental riskSum Assured under basic plan + Optional accidental risk
cover, term assurance rider, critical illness rider andcover, term assurance rider, critical illness rider and
premium waiver benefits.premium waiver benefits.
– Profits:Profits:
» Guaranteed additions @ Rs. 50/- per thousand sumGuaranteed additions @ Rs. 50/- per thousand sum
assured per year for the first five years and in theassured per year for the first five years and in the
subsequent years simple reversionary bonus and terminalsubsequent years simple reversionary bonus and terminal
bonus, if anybonus, if any
– Income Tax rebate:Income Tax rebate:
» Rebate allowed up to Rs. 10,000/- under section 80(CCC)Rebate allowed up to Rs. 10,000/- under section 80(CCC)
of Income Tax Act, 1961.of Income Tax Act, 1961.

6. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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• BenefitsBenefits
– Before Vesting:Before Vesting:
» Death Benefit on death before annuity vests:Death Benefit on death before annuity vests: On theOn the
death of the Life Assured during the deferment period ofdeath of the Life Assured during the deferment period of
the policy, i.e. before the annuity vests, an amount equalthe policy, i.e. before the annuity vests, an amount equal
to the Sum Assured under the Basic plan along with theto the Sum Assured under the Basic plan along with the
accrued Guaranteed Additions, simple Reversionaryaccrued Guaranteed Additions, simple Reversionary
Bonuses and Terminal Bonus, if any, will be paid in aBonuses and Terminal Bonus, if any, will be paid in a
lump sum to the appointed nominee, provided the policylump sum to the appointed nominee, provided the policy
is in force for full Sum Assured. Nominee will also haveis in force for full Sum Assured. Nominee will also have
the option to purchase an annuity with this amount.the option to purchase an annuity with this amount.

7. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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• BenefitsBenefits
– After Vesting:After Vesting:
» Guaranteed additionsGuaranteed additions @ Rs. 50/- per thousand sum@ Rs. 50/- per thousand sum
assured per year for the first five years and in theassured per year for the first five years and in the
subsequent years simple reversionary bonus andsubsequent years simple reversionary bonus and
terminal bonus, if anyterminal bonus, if any
» Option to commuteOption to commute up to 1/3rd of the amount availableup to 1/3rd of the amount available
on vesting, which shall include the Sum Assured underon vesting, which shall include the Sum Assured under
the Basic Plan together with accrued Guaranteedthe Basic Plan together with accrued Guaranteed
Additions, simple Reversionary Bonuses and TerminalAdditions, simple Reversionary Bonuses and Terminal
Bonus, if any.Bonus, if any.
» Annuity as per the option selectedAnnuity as per the option selected: Annuity on the: Annuity on the
balance amount if commutation is exercised, otherwisebalance amount if commutation is exercised, otherwise
annuity on the full amount.annuity on the full amount.

8. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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• Annuity Options:Annuity Options:
On vesting, the annuity instalment, mode of annuity paymentOn vesting, the annuity instalment, mode of annuity payment
and type of annuity which shall be made available to the Lifeand type of annuity which shall be made available to the Life
Assured (Annuitant) / Nominee will depend upon the thenAssured (Annuitant) / Nominee will depend upon the then
prevailing Immediate Annuity plan of the Life Insuranceprevailing Immediate Annuity plan of the Life Insurance
Corporation of India and its terms and conditions.Corporation of India and its terms and conditions.
Currently the following options are available under LIC’sCurrently the following options are available under LIC’s
immediate annuities:immediate annuities:
Annuity for life:Annuity for life: The annuity is paid to the life assured as longThe annuity is paid to the life assured as long
as he/she is alive.as he/she is alive.
Annuity Guaranteed for certain periods:Annuity Guaranteed for certain periods: The annuity is paid toThe annuity is paid to
the life assured for periods of 5 or 10 or 15 or 20 years asthe life assured for periods of 5 or 10 or 15 or 20 years as
chosen by him/her, whether or not he/she survives that period.chosen by him/her, whether or not he/she survives that period.
After the chosen period, the annuity is paid to the life assuredAfter the chosen period, the annuity is paid to the life assured
as long as he/she is alive.as long as he/she is alive.

9. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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• Annuity Options:Annuity Options:
Annuity with return of purchase price on death:Annuity with return of purchase price on death: The annuity isThe annuity is
paid to the life assured as long as he/she is alive. On the deathpaid to the life assured as long as he/she is alive. On the death
of the life assured, the purchase price of the annuity is paid asof the life assured, the purchase price of the annuity is paid as
death benefit. The purchase price includes the Sum Assureddeath benefit. The purchase price includes the Sum Assured
under the Basic Plan, the accrued Guaranteed Additions andunder the Basic Plan, the accrued Guaranteed Additions and
any accrued bonuses, excluding the commuted value, if any.any accrued bonuses, excluding the commuted value, if any.
Increasing annuity:Increasing annuity: The annuity is paid to the life assured asThe annuity is paid to the life assured as
long as he/she is alive. The amount of annuity increases everylong as he/she is alive. The amount of annuity increases every
year at a simple rate of 3% per annum.year at a simple rate of 3% per annum.
Joint Life Last Survivor AnnuityJoint Life Last Survivor Annuity:: The annuity is paid to the lifeThe annuity is paid to the life
assured as long as he/she is alive. On death of the life assured,assured as long as he/she is alive. On death of the life assured,
50% of the annuity is payable to the nominated spouse as long50% of the annuity is payable to the nominated spouse as long
as the spouse is alive.as the spouse is alive. ..

10. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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ELIGIBILITY CONDITIONS/RESTRICTIONSELIGIBILITY CONDITIONS/RESTRICTIONS
For Basic BenefitFor Basic Benefit
Minimum age at entryMinimum age at entry 18 years18 years (completed)(completed)
Maximum age at entryMaximum age at entry 65 years65 years
Minimum age at vestingMinimum age at vesting 40 years40 years
Maximum age at vestingMaximum age at vesting 75 years75 years
Policy termsPolicy terms 6 to 35 years under Single Premium6 to 35 years under Single Premium
policies and 5 to 35 years underpolicies and 5 to 35 years under
Regular Premium policiesRegular Premium policies
Modes of premium paymentModes of premium payment Yearly, Half-yearly, Quarterly, SSS &Yearly, Half-yearly, Quarterly, SSS &
Single PremiumSingle Premium
Sums Assured allowedSums Assured allowed Rs.50,000/- and in multiples ofRs.50,000/- and in multiples of
Rs.5,000/- thereafter, with no upperRs.5,000/- thereafter, with no upper
limit.limit.
Minimum Annual PremiumMinimum Annual Premium Rs.3,000/-Rs.3,000/-
Minimum Single premiumMinimum Single premium Rs.10,000/-Rs.10,000/-

11. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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ELIGIBILITY CONDITIONS/RESTRICTIONSELIGIBILITY CONDITIONS/RESTRICTIONS
For Term Assurance Rider OptionFor Term Assurance Rider Option
Minimum age at entryMinimum age at entry 18 years18 years (completed)(completed)
Maximum age at entryMaximum age at entry 50 years50 years
Maximum age at vestingMaximum age at vesting 60 years60 years
Policy termsPolicy terms 6 to 35 years under Single Premium6 to 35 years under Single Premium
mode and 10 to 35 years under regularmode and 10 to 35 years under regular
premium modepremium mode
Minimum Sum AssuredMinimum Sum Assured Rs. 1,00,000/-Rs. 1,00,000/-
Maximum Sum AssuredMaximum Sum Assured An amount equal to the Sum AssuredAn amount equal to the Sum Assured
under the Basic plan subject to a limitunder the Basic plan subject to a limit
of Rs. 25,00,000/- taking all Termof Rs. 25,00,000/- taking all Term
Assurance Rider Sum Assured underAssurance Rider Sum Assured under
all policies of a life assuredall policies of a life assured
Multiples of Sum AssuredMultiples of Sum Assured Rs. 25,000/-Rs. 25,000/-

12. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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ELIGIBILITY CONDITIONS/RESTRICTIONSELIGIBILITY CONDITIONS/RESTRICTIONS
ForFor Critical Illness Rider OptionCritical Illness Rider Option
Minimum age at entryMinimum age at entry 20 years20 years (completed)(completed)
Maximum age at entryMaximum age at entry 50 years50 years
Maximum age at vestingMaximum age at vesting 60 years60 years
Policy termsPolicy terms 10 to 35 years10 to 35 years
Minimum Sum AssuredMinimum Sum Assured Rs. 50,000/-Rs. 50,000/-
Maximum Sum AssuredMaximum Sum Assured An amount equal to the Sum AssuredAn amount equal to the Sum Assured
under the Basic plan subject to a limitunder the Basic plan subject to a limit
of Rs.5,00,000/- taking all Criticalof Rs.5,00,000/- taking all Critical
Illness Rider Sum Assured under allIllness Rider Sum Assured under all
policies of a life assuredpolicies of a life assured
Multiples of Sum AssuredMultiples of Sum Assured Rs. 10,000/-Rs. 10,000/-

13. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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RidersRiders
Term Assurance Rider Option:Term Assurance Rider Option: Term Assurance as optional riderTerm Assurance as optional rider
will be available under this plan. Premiums for this option are payablewill be available under this plan. Premiums for this option are payable
during the premium paying term and an amount equal to Termduring the premium paying term and an amount equal to Term
Assurance Sum Assured will be payable on death during the policyAssurance Sum Assured will be payable on death during the policy
term. The maximum cover for this rider will be Rs.25 lakh under allterm. The maximum cover for this rider will be Rs.25 lakh under all
policies of the Life Assured with the Corporation taken together.policies of the Life Assured with the Corporation taken together.
Critical Illness Rider Option:Critical Illness Rider Option: An amount equal to the Critical IllnessAn amount equal to the Critical Illness
Rider Sum Assured as optional rider will be payable in case ofRider Sum Assured as optional rider will be payable in case of
diagnosis of defined categories of Critical Illness subject to certaindiagnosis of defined categories of Critical Illness subject to certain
terms and conditions. The maximum cover for this rider will be Rs.5terms and conditions. The maximum cover for this rider will be Rs.5
lakh under all policies of the Life Assured with the Corporation takenlakh under all policies of the Life Assured with the Corporation taken
together.together.
Premium Waiver Benefit Option:Premium Waiver Benefit Option: In case the Life Assured is diagnosedIn case the Life Assured is diagnosed
with any of the Critical Illnesses covered under the policy, the totalwith any of the Critical Illnesses covered under the policy, the total
future premiums in respect of the policy will be waived. Sum Assuredfuture premiums in respect of the policy will be waived. Sum Assured
under all such policies with the Corporation taken together will notunder all such policies with the Corporation taken together will not
exceed Rs.5 lakhexceed Rs.5 lakh

14. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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End ofEnd of
yearyear
Total premiums paidTotal premiums paid
till end of yeartill end of year
Benefit payable on death / Amount available on survival up to the date of vestingBenefit payable on death / Amount available on survival up to the date of vesting
for purchase of annuityfor purchase of annuity
GuaranteedGuaranteed VariableVariable TotalTotal
Scenario 1Scenario 1 Scenario 2Scenario 2 Scenario 1Scenario 1 Scenario 2Scenario 2
11 4,1214,121 1,00,0001,00,000 -- -- 1,00,0001,00,000 1,00,0001,00,000
22 8,2428,242 1,05,0001,05,000 -- -- 1,05,0001,05,000 1,05,0001,05,000
33 12,36312,363 1,10,0001,10,000 -- -- 1,10,0001,10,000 1,10,0001,10,000
44 16,48416,484 1,15,0001,15,000 -- -- 1,15,0001,15,000 1,15,0001,15,000
55 20,60520,605 1,20,0001,20,000 -- -- 1,20,0001,20,000 1,20,0001,20,000
66 24,72624,726 1,25,0001,25,000 2,3002,300 7,3007,300 1,27,3001,27,300 1,32,3001,32,300
77 28,84728,847 1,25,0001,25,000 4,6004,600 14,60014,600 1,29,6001,29,600 1,39,6001,39,600
88 32,96832,968 1,25,0001,25,000 6,9006,900 21,90021,900 1,31,9001,31,900 1,46,9001,46,900
99 37,08937,089 1,25,0001,25,000 9,2009,200 29,20029,200 1,34,2001,34,200 1,54,2001,54,200
1010 41,21041,210 1,25,0001,25,000 11,50011,500 36,50036,500 1,36,5001,36,500 1,61,5001,61,500
1515 61,81561,815 1,25,0001,25,000 23,00023,000 73,00073,000 1,48,0001,48,000 1,98,0001,98,000
2020 82,42082,420 1,25,0001,25,000 48,50048,500 1,57,5001,57,500 1,73,5001,73,500 2,82,5002,82,500
2525 1,02,3051,02,305 1,25,0001,25,000 63,50063,500 2,06,0002,06,000 1,88,5001,88,500 3,31,0003,31,000
Illustration 1:Illustration 1:
Age at entryAge at entry: 35 years;: 35 years; Policy Term:Policy Term: 25 years;25 years; Premium paying term:Premium paying term: 25 years25 years
Mode of premium payment:Mode of premium payment: Yearly;Yearly; Annual Premium:Annual Premium: Rs.4,121;Rs.4,121; Sum Assured:Sum Assured: Rs.1,00,000Rs.1,00,000

15. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
IllustrationIllustration
End ofEnd of
yearyear
Total premiums paidTotal premiums paid
till end of yeartill end of year
Benefit payable on death / Amount available on survival up to the date of vestingBenefit payable on death / Amount available on survival up to the date of vesting
for purchase of annuityfor purchase of annuity
GuaranteedGuaranteed VariableVariable TotalTotal
Scenario 1Scenario 1 Scenario 2Scenario 2 Scenario 1Scenario 1 Scenario 2Scenario 2
11 53,75053,750 1,00,0001,00,000 -- -- 1,00,0001,00,000 1,00,0001,00,000
22 53,75053,750 1,05,0001,05,000 -- -- 1,05,0001,05,000 1,05,0001,05,000
33 53,75053,750 1,10,0001,10,000 -- -- 1,10,0001,10,000 1,10,0001,10,000
44 53,75053,750 1,15,0001,15,000 -- -- 1,15,0001,15,000 1,15,0001,15,000
55 53,75053,750 1,20,0001,20,000 -- -- 1,20,0001,20,000 1,20,0001,20,000
66 53,75053,750 1,25,0001,25,000 2,5002,500 12,40012,400 1,27,5001,27,500 1,37,4001,37,400
77 53,75053,750 1,25,0001,25,000 5,0005,000 24,80024,800 1,30,0001,30,000 1,49,8001,49,800
88 53,75053,750 1,25,0001,25,000 7,5007,500 37,20037,200 1,32,5001,32,500 1,62,2001,62,200
99 53,75053,750 1,25,0001,25,000 10,00010,000 49,60049,600 1,35,0001,35,000 1,74,6001,74,600
1010 53,75053,750 1,25,0001,25,000 12,50012,500 62,00062,000 1,37,5001,37,500 1,87,0001,87,000
1515 53,75053,750 1,25,0001,25,000 25,00025,000 1,24,0001,24,000 1,50,0001,50,000 2,49,0002,49,000
2020 53,75053,750 1,25,0001,25,000 53,50053,500 2,68,0002,68,000 1,78,5001,78,500 3,93,0003,93,000
2525 53,75053,750 1,25,0001,25,000 70,00070,000 3,50,5003,50,500 1,95,0001,95,000 4,75,5004,75,500
Illustration 2:Illustration 2:
Age at entryAge at entry: 35 years;: 35 years; Policy Term:Policy Term: 25 years;25 years; Premium paying term:Premium paying term: 1 year1 year
Single Premium:Single Premium: Rs.53,750;Rs.53,750; Sum Assured:Sum Assured: Rs.1,00,000Rs.1,00,000

16. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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FrequentlyFrequently Asked QuestionsAsked Questions
What are annuities?What are annuities?
Annuities are contracts whereby the insurance company makes a seriesAnnuities are contracts whereby the insurance company makes a series
of payments at regular intervals from a fixed dateof payments at regular intervals from a fixed date (vesting) until the deathuntil the death
of the annuitant.of the annuitant.
What is the vesting age?What is the vesting age?
It is the age at which the policy benefits will be available for purchase ofIt is the age at which the policy benefits will be available for purchase of
an annuity.an annuity.
What is the right amount pension?What is the right amount pension?
A simple thumb rule – 2.5 times your current monthly expenditureA simple thumb rule – 2.5 times your current monthly expenditure

17. IntroIntro FeaturesFeatures BenefitsBenefits FAQ’sFAQ’s
LIC’s Jeevan NidhiLIC’s Jeevan Nidhi [Table No. 169]
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FrequentlyFrequently Asked QuestionsAsked Questions
Is pension related to inflation?Is pension related to inflation?
No. However, there is an option of pension wherein pension increasesNo. However, there is an option of pension wherein pension increases
@ 3 % p.a.@ 3 % p.a. (simple)(simple)
Is policy loan available?Is policy loan available?
Jeevan Nidhi is designed to help you build a corpus which will yield aJeevan Nidhi is designed to help you build a corpus which will yield a
handsome pension on vesting. To shield the corpus from any withdrawals,handsome pension on vesting. To shield the corpus from any withdrawals,
there is no facility for loan. Policy loan can be availed from other plans viz;there is no facility for loan. Policy loan can be availed from other plans viz;
Jeevan Pramukh, Jeevan Shree, Endowment, etcJeevan Pramukh, Jeevan Shree, Endowment, etc
Is the Sum Assured Guaranteed?Is the Sum Assured Guaranteed?
Yes, it is guaranteedYes, it is guaranteed