LIC Launches New Jeevan Sathi Joint-Life Plans for Couples
Sales begin June 1, 2026, offering married couples guaranteed maturity and death benefits under a single policy.
Overview
- LIC publicly unveiled the two New Jeevan Sathi plans on May 27, 2026, with CEO R. Doraiswamy and managing directors R. Chander, Dinesh Pant and Ratnakar Patnaik announcing full product specifications.
- New Jeevan Sathi Single Premium (Plan 888) requires a one-time premium and includes guaranteed additions, flexible death-benefit options and the choice to receive payouts in instalments over 5, 10 or 15 years.
- New Jeevan Sathi Limited Premium (Plan 889) lets policyholders pay premiums for 5, 10 or 15 years, includes a premium-waiver on a spouse’s death during the payment term and guarantees additions tied to annual premiums.
- Both plans are non-linked, non-participating savings contracts with a minimum basic sum assured of Rs 3,00,000, a minimum entry age of 18 and no fixed upper sum-assured ceiling subject to LIC’s board-approved underwriting acceptance.
- Policies will be sold from June 1 through LIC agents, brokers, corporate channels and the LIC website, giving couples a single-policy option that combines long-term savings, loan facilities and joint spousal cover.