What is LIC New Jeevan Sathi (Plan 889)?

LIC New Jeevan Sathi (Table 889) is a joint-life limited premium payment endowment policy designed for married couples. It covers both husband and wife under a single contract, waives all future premiums upon the demise of the first spouse, and provides full maturity benefits.

What happens on the death of one spouse in Plan 889?

On the first demise of either spouse, the Sum Assured on Death is paid immediately to the surviving spouse, and all future premiums are fully waived. The surviving spouse remains insured for the full sum assured until maturity.

Table No. 889Joint Life Limited PremiumUIN: 512N394V01

LIC New Jeevan Sathi (Plan 889): Two Lives, One Policy Guide

Joint life endowment insurance specifically designed for married couples. Offers dual life coverage, automatic waiver of future premiums upon the first death, and guaranteed maturity wealth building.

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Table 889Representative Policy Illustrations

LIC New Jeevan Sathi (Limited Pay) Premium & Maturity Examples

⚡ Pre-Calculated Tabular Rates (0% GST)

To help you compare real-world policy outcomes, below are three representative calculation examples for LIC New Jeevan Sathi (Limited Pay) (Plan 889) across different entry ages, policy tenures, and sum assured brackets.

Scenario 1

Young Couple (Ages 28 & 25)

Newly Married

Client Age:28 Years

Basic Sum Assured:₹5,00,000

Policy Term / PPT:20 Yrs / 12 Yrs

Premium Modes

Yearly₹39,500

Half-Yearly₹19,950

Quarterly₹10,070

Monthly (NACH)₹3,360

Total Premium Paid (12 yrs):₹4,74,000

Simple Bonus (Approx):+₹4,20,000

Final Addl. Bonus (FAB):+₹25,000

Total Maturity Return:₹9,45,000

* Dual life protection for 20 years with limited 12-year premium payment.

Scenario 2

Family Foundation (Ages 32 & 29)

Popular Choice ⭐

Client Age:32 Years

Basic Sum Assured:₹10,00,000

Policy Term / PPT:25 Yrs / 15 Yrs

Premium Modes

Yearly₹67,800

Half-Yearly₹34,240

Quarterly₹17,290

Monthly (NACH)₹5,765

Total Premium Paid (15 yrs):₹10,17,000

Simple Bonus (Approx):+₹11,25,000

Final Addl. Bonus (FAB):+₹2,50,000

Total Maturity Return:₹23,75,000

* Comprehensive joint cover for both husband & wife + ₹23.75 Lakh maturity payout.

ℹAll premium calculations are based on standard joint life underwriting rules with 0% GST direct mode.

ℹIn the event of demise of either spouse during the tenure, future premiums are 100% waived while risk cover on the surviving partner continues.

ℹMaturity amount includes Basic Sum Assured + Vested Simple Reversionary Bonus + FAB.

📋 Key Eligibility Criteria & Rules (Plan 889)

Parameter	Policy Specification
Policy Term	15 to 30 Years
Premium Paying Term (PPT)	Limited (Policy Term minus 5 or 8 Years)
Eligible Proposer & Spouse Age	18 to 55 Years (Nearer Birthday)
Minimum Sum Assured	₹2,00,000
Inbuilt Dual Risk Cover	Covers both Husband and Wife simultaneously under single policy
Demise Protection Mechanism	Death SA to surviving partner + 100% future premiums waived