LIC Jeevan Sathi Calculator
New Jeevan Sathi – 2026
Estimated Benefits
Death Benefit Calculation
Basic Sum Assured ₹0
Premium Multiple 10.5×
Premium Based SA ₹0
Sum Assured on Death ₹0
LIC Jeevan Sathi Plan 889 Calculator: LIC’s New Jeevan Sathi – Limited Premium (Plan 889, UIN 512N394V01) is a joint life savings and protection plan for a married couple. Both spouses are covered under one policy. You pay premiums for 5, 10 or 15 years, the policy runs for 10, 15, 20 or 25 years, and the minimum Basic Sum Assured is ₹3,00,000. Benefits are fixed and guaranteed. They do not depend on the stock market or on LIC’s profits.
A calculator for this plan helps you estimate the yearly premium, the guaranteed additions, the maturity amount and the death benefit before you speak to an agent. This guide explains each number in simple words and shows the maths using LIC’s own sample figures.
What Is LIC Jeevan Sathi Plan 889?
LIC announced its New Jeevan Sathi plans in the last week of May 2026. Plan 888 is the single premium version, and Plan 889 is the limited premium version. Both became available for purchase from 1 June 2026. People also search for this plan as LIC Jeevan Saathi 889 or LIC New Jeevan Sathi Limited Premium. They all mean the same plan.
In plain language, it is a joint life endowment plan. One spouse is the Primary Life Assured and becomes the policyholder. The other spouse is the Secondary Life Assured. If the primary life dies, the secondary life becomes the policyholder.
Two labels matter here:
- Non-linked means your money is not invested in the stock market. Market ups and downs do not change your benefits.
- Non-participating means the policy does not share in LIC’s profits. There is no yearly bonus. Every benefit is written in the policy from day one.
Key Features at a Glance
| Feature | Details |
|---|---|
| Plan name | LIC’s New Jeevan Sathi – Limited Premium |
| Plan number / UIN | 889 / 512N394V01 |
| Plan type | Non-Par, Non-Linked, Joint Life Endowment Savings Plan |
| Who can buy | A married individual with his or her spouse |
| Premium Paying Term (PPT) | 5, 10 or 15 years |
| Policy Term | 10, 15, 20 or 25 years |
| Minimum Basic Sum Assured | ₹3,00,000, in multiples of ₹10,000 |
| Maximum Basic Sum Assured | No fixed limit, subject to LIC underwriting |
| Guaranteed Additions | 7.00% of total tabular annual premium paid, plus any incentives |
| Death benefit | Two options (Option I and Option II) |
| Premium waiver | Yes, after the first death during the premium paying term |
| Premium modes | Yearly, half-yearly, quarterly, monthly (NACH only) or salary deduction |
| Loan | Available after the first policy year |
| Where to buy | LIC agents, corporate agents, brokers, insurance marketing firms, or online at licindia.in |
The plan is not sold through POSP-LI or CPSC-SPV channels.
Who Is Eligible? Entry and Maturity Age
Both spouses must be at least 18 years old (completed). The maximum entry age depends on the premium paying term, the policy term and the death benefit option you choose.
| PPT (years) | Policy Term (years) | Max Entry Age – Option I | Max Entry Age – Option II |
|---|---|---|---|
| 5 | 10 | 45 | 40 |
| 5 | 15 | 45 | 40 |
| 5 | 20 | 45 | 40 |
| 5 | 25 | 45 | 35 |
| 10 | 15 | 50 | 40 |
| 10 | 20 | 50 | 40 |
| 10 | 25 | 50 | 35 |
| 15 | 20 | 50 | 40 |
| 15 | 25 | 50 | 35 |
The age limits apply to both lives. Age is counted at the nearer birthday. The minimum age at maturity is 28 years. The maximum age at maturity is 75 years under Option I and 60 years under Option II.
The table also shows which combinations exist. A 10-year policy is only available with a 5-year paying term, and a 15-year paying term needs a policy term of 20 or 25 years.
What Does a LIC Jeevan Sathi Plan 889 Calculator Do?
A calculator takes a few details and gives you an estimate of the premium and the benefits. This saves you from reading the full brochure and doing every step by hand.
What you enter:
- Age of the husband and the wife
- Basic Sum Assured
- Premium Paying Term (5, 10 or 15 years)
- Policy Term (10, 15, 20 or 25 years)
- Death benefit option (Option I or Option II)
- Premium mode (yearly, half-yearly, quarterly or monthly)
What you should see in the result:
- Yearly premium and total premium over the paying term
- Guaranteed Additions, year by year
- Maturity benefit
- Death benefit on the first death and on the second death
- Approximate surrender value, if the tool shows it
Treat every figure as an estimate. Your final premium depends on exact ages, underwriting, rebates and any riders. The only official figures are in the benefit illustration LIC gives you when you apply.
Sample Premiums Straight from LIC’s Brochure
LIC’s brochure gives sample yearly premiums for a Basic Sum Assured of ₹3,00,000. These are for standard lives, both spouses of the same age, offline sale, and exclude taxes.
Option I
| Age of both lives | 15-year term (5-year PPT) | 20-year term (10-year PPT) | 25-year term (15-year PPT) |
|---|---|---|---|
| 20 | ₹68,505 | ₹33,045 | ₹20,715 |
| 35 | ₹75,705 | ₹37,035 | ₹25,095 |
| 45 | ₹1,12,470 | ₹50,265 | ₹35,055 |
Option II
| Age of both lives | 15-year term (5-year PPT) | 20-year term (10-year PPT) | 25-year term (15-year PPT) |
|---|---|---|---|
| 20 | ₹71,670 | ₹33,510 | ₹20,715 |
| 25 | ₹72,825 | ₹34,140 | ₹21,330 |
| 35 | ₹84,135 | ₹39,525 | ₹25,095 |
You can see the pattern. A shorter paying term means a higher yearly premium, because the same money is collected over fewer years.
How the premium mode changes what you pay
If you do not pay yearly, LIC multiplies the yearly premium by a conversion factor.
| Mode | Conversion factor | Example (yearly premium ₹37,035) | Total paid in one year |
|---|---|---|---|
| Yearly | 1.0000 | ₹37,035 | ₹37,035 |
| Half-yearly | 0.5090 | ₹18,851 | ₹37,702 |
| Quarterly | 0.2568 | ₹9,511 | ₹38,042 |
| Monthly | 0.0861 | ₹3,189 | ₹38,265 |
Paying monthly costs about 3.3% more over a year than paying yearly. Monthly premiums are collected only through NACH.
How Guaranteed Additions Work
Guaranteed Additions (GA) are the main reason the maturity amount is higher than the sum assured. Many people misread them, so here is the exact rule.
- The base rate is 7.00% of the total tabular annual premium paid.
- At the end of each policy year, LIC adds this rate multiplied by the total of all yearly premiums paid so far.
- After the paying term ends, the total of premiums paid stops growing, but the addition continues every year until maturity.
- The 7% is a formula applied to your premiums. It is not a 7% yearly return on your money.
“Tabular annual premium” means the premium for your sum assured and death benefit option, before rebates, extra charges, taxes and rider premiums.
Incentives that raise the GA rate
Your GA rate can be higher than 7.00% in these cases. The incentives add up.
1. Higher Basic Sum Assured (extra percentage points added to the rate)
| Basic Sum Assured | 10-year term | 15-year term | 20-year term | 25-year term |
|---|---|---|---|---|
| ₹3 lakh to under ₹5 lakh | 0.00% | 0.00% | 0.00% | 0.00% |
| ₹5 lakh to under ₹10 lakh | 0.15% | 0.15% | 0.20% | 0.40% |
| ₹10 lakh to under ₹15 lakh | 0.30% | 0.30% | 0.45% | 0.80% |
| ₹15 lakh and above | 0.35% | 0.35% | 0.55% | 1.00% |
2. Online purchase without an agent
| Premium Paying Term | Extra GA rate |
|---|---|
| 5 years | 0.75% |
| 10 years | 0.95% |
| 15 years | 1.25% |
3. Existing LIC policyholders, and nominees or beneficiaries of a deceased LIC policyholder
| Premium Paying Term | Extra GA rate |
|---|---|
| 5 years | 0.05% |
| 10 years | 0.10% |
| 15 years | 0.10% |
The existing-policyholder incentive applies to someone who has an in-force LIC policy, or whose LIC policy matured within one year before applying, or who is a nominee or beneficiary of a policyholder who died within one year before applying.
A Worked Example Using LIC’s Own Illustration
Let us follow LIC’s first sample illustration step by step.
The policy:
- Option I
- Both spouses aged 35
- Basic Sum Assured: ₹10,00,000
- Policy Term: 25 years
- Premium Paying Term: 15 years
- Yearly premium: ₹83,650
- Sold offline
Step 1: Total premium paid. ₹83,650 × 15 years = ₹12,54,750
Step 2: Find the GA rate. Base rate 7.00% + 0.80% (Basic Sum Assured of ₹10 to 15 lakh, 25-year term) = 7.80%
Step 3: Calculate GA for the early years.
- End of year 1: 7.80% × ₹83,650 = ₹6,525
- End of year 2: 7.80% × ₹1,67,300 (premiums paid so far) = ₹13,049. Total GA so far = ₹19,574
- End of year 3: 7.80% × ₹2,50,950 = ₹19,574. Total GA so far = ₹39,148
Step 4: After the paying term ends. From year 15 onward, premiums paid so far stay at ₹12,54,750. The yearly GA becomes 7.80% × ₹12,54,750 = about ₹97,871 every year until year 25.
Step 5: Total GA at maturity. LIC’s illustration shows accrued GA of ₹17,61,669 at the end of year 25.
Step 6: Maturity benefit. ₹10,00,000 (Basic Sum Assured) + ₹17,61,669 (GA) = ₹27,61,669
Step 7: Death benefit. On the first death, the survivor receives the Sum Assured on Death. Under Option I this is the higher of 7 × ₹83,650 = ₹5,85,550 or the Basic Sum Assured of ₹10,00,000. So it is ₹10,00,000. The policy continues and future premiums are waived.
On the second death, the nominee receives ₹10,00,000 plus the GA accrued so far. For example, at the end of year 10, that would be ₹10,00,000 + ₹3,58,859 = ₹13,58,859.
A second example with Option II
LIC’s second illustration uses Option II, both spouses aged 35, ₹10,00,000 Basic Sum Assured, 20-year term and 10-year paying term. The yearly premium is ₹1,31,750.
- Sum Assured on Death = 10.5 × ₹1,31,750 = ₹13,83,375, which is higher than the Basic Sum Assured
- Total premiums paid = ₹13,17,500
- Maturity benefit = ₹25,21,383
What Return Does the Plan Actually Give?
This is the question many buyers forget to ask. We worked it out ourselves from the two LIC illustrations above. This is a rough estimate that assumes both spouses survive to maturity and ignores the cost of life cover.
| Illustration | Premiums paid | Maturity benefit | Approx. yearly return |
|---|---|---|---|
| Option I, 25-year term, 15-year PPT | ₹12,54,750 | ₹27,61,669 | about 4.4% |
| Option II, 20-year term, 10-year PPT | ₹13,17,500 | ₹25,21,383 | about 4.2% |
So a “7% guaranteed addition” does not mean a 7% return. The effective return is closer to 4% to 4.5% a year, in exchange for certainty. Compare this with other fixed-return options available to you today, and remember that part of what you pay also buys life cover for two people.
Death Benefit Options Explained
You must choose one option when you buy the policy. It cannot be changed later.
| Option | Sum Assured on Death |
|---|---|
| Option I | Higher of 7 times the tabular annual premium, or the Basic Sum Assured |
| Option II | Higher of 10.5 times the tabular annual premium, or the Basic Sum Assured |
What is paid, and when:
| Event | What happens |
|---|---|
| First death during the policy term | Sum Assured on Death is paid to the surviving spouse. The policy continues. |
| Second death during the policy term | Sum Assured on Death plus accrued Guaranteed Additions is paid to the nominee. The policy ends. |
| Both die together | The first-death and second-death benefits are added together and paid. |
| Survival to maturity | Basic Sum Assured plus accrued Guaranteed Additions is paid (if at least one spouse is alive). |
On the second death, the payout will not be less than 105% of the total premiums paid up to the date of death.
Premium Waiver: The Feature That Sets This Plan Apart
If one spouse dies during the premium paying term, all further base premiums are waived from the next policy anniversary. The surviving spouse stays covered for the rest of the policy term without paying more base premium.
One detail is easy to miss. Premiums for any rider on the surviving spouse’s life are not waived. They continue as per the rider rules.
Optional Riders
You can add riders for both spouses by paying extra premium.
| Rider | Key points |
|---|---|
| LIC’s Accident Benefit Rider | Can be added at any time within the paying term if at least 5 years of paying term remain. Pays an extra amount on accidental death. |
| LIC’s New Term Assurance Rider | Only at the start of the policy. Pays the rider sum assured on death during the policy term. |
| LIC’s Critical Illness Health Rider | Only at the start of the policy. Option 1 covers 15 major illnesses. Option 2 covers 40 major illnesses and includes an Assisted Living Benefit. |
All life insurance riders together cannot cost more than 30% of the base plan premium.
Surrender, Paid-Up Value, Loan and Other Rules
Surrender. You can surrender the policy after the first policy year if at least one full year’s premium has been paid. A Guaranteed Surrender Value applies after two full years of premiums. For example, in policy year 2 the factor is 30% of total premiums paid, in year 3 it is 35%, and in years 4 to 7 it is 50%. The surrender value of accrued Guaranteed Additions is added. After surrender, the policy ends.
Paid-up policy. If you stop paying after at least one full year of premiums, the policy does not become void. It continues as a paid-up policy with reduced death and maturity benefits, in proportion to the premiums you paid.
Loan. You can borrow after the first policy year if one full year’s premium has been paid. The loan can be up to 75% of the surrender value for an in-force policy and 50% for a paid-up policy. The interest rate is reset every year. LIC’s brochure quotes 9.50% a year, compounded half-yearly, for loans sanctioned between 1 May 2025 and 30 April 2026. Check the current rate with LIC before you apply.
Grace period. 30 days for yearly, half-yearly and quarterly premiums, and 15 days for monthly premiums.
Revival. A lapsed policy can be revived within 5 years of the first unpaid premium, and before the policy term ends. You pay the overdue premiums with interest, and both spouses must satisfy LIC’s continued insurability check.
Free look. You have 30 days from receiving the policy document to return it if you do not agree with the terms.
Suicide clause. If either life assured dies by suicide within 12 months of the policy starting or being revived, the nominee gets 80% of premiums paid or the surrender value, whichever is higher.
Taking Maturity or Death Benefit in Instalments
Instead of one lump sum, you can choose to receive the maturity benefit or the death benefit over 5, 10 or 15 years. Payments can be monthly, quarterly, half-yearly or yearly, and are made in advance.
| Instalment mode | Minimum instalment |
|---|---|
| Monthly | ₹5,000 |
| Quarterly | ₹15,000 |
| Half-yearly | ₹25,000 |
| Yearly | ₹50,000 |
If the amount is too small for the minimum instalment, it is paid as a lump sum. To use the settlement option for maturity, you must tell LIC at least 3 months before the maturity date. The interest used to work out instalments is set each year by LIC, and it is not lower than the 10-year government bond yield minus 2%.
Tax and GST
Taxes on the premium are charged on top of the premium and are not counted when benefits are calculated. LIC’s sample illustrations note that GST is currently exempt on this premium, but tax rules can change. For income tax on premiums and payouts, please speak to a qualified tax adviser, because the answer depends on your own situation and the law in force at the time.
Plan 889 vs Plan 888: What Is the Difference?
| Point | Plan 888 (Single Premium) | Plan 889 (Limited Premium) |
|---|---|---|
| How you pay | One-time premium | Premiums for 5, 10 or 15 years |
| Premium waiver on first death | Not applicable | Yes, during the premium paying term |
| Guaranteed Additions | ₹70 per ₹1,000 of Basic Sum Assured every year | 7% of total tabular annual premium paid |
| Suits | Couples with a lump sum to invest once | Couples who prefer to pay in parts |
Frequently Asked Questions
What is LIC Jeevan Sathi Plan 889? It is LIC’s New Jeevan Sathi – Limited Premium plan. It is a non-linked, non-participating joint life endowment plan for a married couple, with guaranteed additions and a premium waiver on the first death.
What is the UIN of Plan 889? The UIN is 512N394V01.
Is LIC Jeevan Sathi 889 linked to the stock market? No. It is non-linked and non-participating. Benefits are fixed and do not change with market movement or LIC’s profits.
Who can buy Plan 889? A married individual can buy it along with his or her spouse. Both must be at least 18 years old, and the maximum entry age depends on the paying term, policy term and death benefit option.
What premium paying terms and policy terms are available? Premium paying terms are 5, 10 and 15 years. Policy terms are 10, 15, 20 and 25 years.
What is the minimum sum assured? ₹3,00,000, in multiples of ₹10,000. There is no fixed upper limit, but the maximum is subject to LIC’s underwriting.
How are Guaranteed Additions calculated? At the end of each policy year, LIC multiplies the applicable GA rate (7.00% plus any incentives) by the total tabular annual premium paid so far.
What is the premium for ₹10 lakh sum assured? It depends on age, term and option. LIC’s own sample shows ₹83,650 a year for Option I, both lives aged 35, 25-year term and 15-year paying term. For Option II with a 20-year term and 10-year paying term at the same ages, the sample shows ₹1,31,750 a year.
What are the two death benefit options? Option I pays the higher of 7 times the tabular annual premium or the Basic Sum Assured. Option II pays the higher of 10.5 times the tabular annual premium or the Basic Sum Assured. The choice cannot be changed later.
What happens if one spouse dies? The Sum Assured on Death is paid to the surviving spouse, the policy continues, and base premiums are waived from the next policy anniversary if the death happens during the premium paying term.
What happens at maturity? If at least one spouse is alive at maturity, LIC pays the Basic Sum Assured plus all accrued Guaranteed Additions.
Can I take a loan on this policy? Yes, after the first policy year if one full year’s premium has been paid. The loan can go up to 75% of the surrender value for an in-force policy.
Can I pay premiums monthly? Yes, monthly payment is possible through NACH. You can also pay yearly, half-yearly or quarterly, or through salary deduction.
Can I buy Plan 889 online? Yes. It is available on LIC’s website licindia.in, and also through agents, corporate agents, brokers and insurance marketing firms. Online buyers without agent help get an extra Guaranteed Addition rate.
Is the calculator result exact? No. A calculator gives an estimate. Your exact premium and benefits are shown only in LIC’s official benefit illustration for your policy.
Is LIC Jeevan Sathi 889 a good plan? It depends on what you need. It offers guaranteed benefits and joint cover with a premium waiver, but the effective return is around 4% to 4.5% a year and the life cover is modest for the premium. Compare it with other options and speak to a licensed adviser before you decide.
Final Word
LIC Jeevan Sathi Plan 889 is built for couples who want one guaranteed policy for two lives. Its main features are Guaranteed Additions, two death benefit options and a premium waiver on the first death. A calculator makes the numbers easy to see, but remember that the guaranteed addition formula is not a yearly return, and the official LIC illustration is the final word. Run your own numbers, compare them with other options, and read the brochure before you sign.