LIC New Janaraksha Plan

LIC New Janaraksha Planis an endowment assurance plan. It provides financial protection against death to the policyholder.  The policy serves as a safety net for the insured’s family in times of distress. The maturity amount is automatically payable on survival and upon maturity of the LIC New Janaraksha Policy.  The premiums for this policy can be paid on a monthly, quarterly, half-yearly, or yearly basis.

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The option for the premiums to be deducted from the salary of the policyholder is also available to them, as long as the policy is active.

Eligibility Criteria of LIC New Janaraksha Plan

The entry age of a policyholder to be eligible for the LIC New Janaraksha Planis kept at a minimum of 18 years and a maximum of 50 years for anyone buying the LIC policy. 

The maximum maturity age for a policyholder with the LIC New Janaraksha Policyis kept at a maximum of 70 years.

Benefits of LIC New Janaraksha Policy

There are numerous benefits that a policyholder can avail of under the LIC New Janaraksha Plan.:

  1. Death Benefit

    This benefit is payable upon the death of the policyholder.  The Sum Assured is payable as a lump sum upon the death of the policyholder along with all the bonuses accumulated to date in the policy term.

  2. Accident Benefit

    In the event of the policyholder's accidental death, the sum assured (subject to a limit of Rs 5 Lakh) is payable as a lump sum amount during the policy term.  If the policyholder is to suffer from a permanent disability due to the accident, the benefit is payable in installments during the policy term.

  3. Maturity Benefit

    The sum assured, along with all the bonuses accumulated up to the maturity date of the LIC New Janaraksha Policy, is paid to the insured or his nominee as a lump sum amount on survival to the policy term-end.

  4. Supplementary/Extra Benefit

    These are extra benefits that a policyholder can add to his basic plan upon payment of an additional amount as a premium.

  5. Surrender Value

    Purchasing the LIC New Janaraksha Planinvolves a commitment for the long term.  Surrender value is, however, available to the policyholder if the policy contract terminates earlier.

  6. Guaranteed Surrender Value

    A policyholder may surrender the LIC New Janaraksha Planafter it has been effective for a minimum of 3 years.  The Guaranteed Surrender Value that a policyholder can claim is 30% of the basic premiums paid till the date of surrender, which excludes the first year's premium.

  7. Corporation's Surrender Policy 

    LIC usually pays a special surrender value to the holders of the LIC New Janaraksha Policy.  This value is either equal to or more than the GSV or the Guaranteed Surrender Value.  The benefit paid to a policyholder reflects the discounted value of the claim amount that is reduced. This is supposed to be paid on the policyholder’s death or at maturity.  

    This value depends upon two factors, the policy duration and the time period for which the premiums have been paid, at the date of the surrender.  

    The Surrender Values are subject to change, by the Corporation, depending on a number of factors e.g., economic environment, market experience, and many other factors.  

Documents Required

The following documents are required in order to claim aLIC New Janaraksha Policy:

In case of death of a policyholder

  • Form 'A' in Form No.3783. 
  • Certified extract from death register. 
  • The original policy document with Deed/s of assignment/s, if any. 

In case of maturity claims

  • Discharged Receipt in Form No.3825 

The Process to buy LIC New Janaraksha Plan Online 

The most convenient method to purchase LIC New Janaraksha Policy is online at the corporation website or through any official agents. The standard steps involved are:

Step 1: Locate the company website and click on the “Buy Online” option.

Step 2: Enter personal details like name, gender, date of birth, address, and contact number.

Step 3: Choose the financial parameters and upload scanned copies of required documents.

Step 4: Review the quote received and pay the premium online to complete the process of purchase.

Key Exclusions

The LIC New Janaraksha Planis considered null and void in the event of a policyholder committing suicide.  The following conditions are taken into consideration.

  • Suppose the policyholder commits suicide at any time within a year from the date of risk commencement.  In such a case, LIC will deny any claims under this policy except a payout that equals 80% of the total premiums paid till the date of death, provided the policy has not lapsed.
  • If a LIC New Janaraksha Policyholder dies by suicide within 12 months from the policy revival date, then  the death payout is higher of :

80% of all premiums paid till the date of death OR the Policy Surrender Value existing as on the date of death. 

The nominee will not be able to make any other claim for benefits under the policy. 

*For more information about exclusions, please refer to the plan brochure or the policy document.


  • Q1. What are the advantages of using net/phone banking to pay the premiums of the LIC New Janaraksha Policy?

    A1. Following are the benefits that a policyholder can avail if he chooses to use net/phone banking:
    • Unlimited access to the net ensures that the policyholder can make changes to the policy and issue instructions regarding it at any time, without leaving the comfort of his home.
    • The policyholder saves time by not having to stand in lines at a branch office to make payments.
    • A policyholder will save money that would otherwise be spent on postage/courier.
    • He can use the services free of charge without paying an additional cost to an authorized agent.
    • The policyholder can make the payment for the premium from any bank of his choice and decide beforehand the date he wants the premium amount to debit his account.
  • Q2. Is it possible to surrender the LIC New Janaraksha Policy?

    A2. The policyholder can surrender the policy and avail of surrender value benefit before the termination of the contract, though that is not advisable unless unavoidable.
  • Q3. What is the claim procedure for LIC New Janaraksha Plan?

    A3. In case of death of a policyholder:
    The nominee of the policyholder, who receives the policy monies, is required to intimate the specific branch handling the claim. He should be in possession of all the required documents.
    In case of maturity claims:
    The concerned branch usually sends maturity claim intimations two months in advance. All the documents required for the facilitation of the policy should be submitted at least a month in advance to allow the payment to be received before the due date of maturity claims. If intimation is not received, then the concerned branch should be contacted.
  • Q4. How can a policyholder add the LIC New Janaraksha Plan details on the service provider's website authorized by LIC?

    A4. One can add details on the service providers by following the steps below:
    • A policyholder can log in to the account page at the insurer's website using his login and password.
    • He then has to add the LIC under the Biller section with the LIC New Janaraksha Plandetails and other information, e.g., policy number, installment premium, etc.  This is to be done once for each of the policies.
  • Q5. In which cities can the authorized service providers of LIC be found?

    A5. can be found in Mumbai, Delhi, and Bangalore. can be found in Delhi, Kolkata, Mumbai, Chennai, Hyderabad, Ahmedabad, Bangalore, and Pune. can be found in Delhi, Mumbai, Chennai, Kolkata, and Bangalore, Ahmedabad, Baroda, Pune, and Surat.
  • Q6. How does LIC acknowledge the registration of the LIC New Janaraksha Policy?

    A6. The company follows the underlying steps to acknowledge a policy:
    • The bank or the authorized service provider sends details of the policy to the company for authentication and confirmation at regular intervals.
    • LIC follows the procedure for authentication and passes the information regarding the status of registration back to the bank. This process generally takes a week's time.
    • LIC also maintains and updates a combined database of all registered policies.  Changes are made in this database from time to time on the basis of information received from the banks.
    • LIC also sends auto–mailers to the policyholders, intimidating them on the status of their policies.
  • Q7. How does LIC update the policyholder regarding payment of their premiums?

    A7. LIC payment can be updated in the following ways:
    • LIC sends bills/invoices with the due dates mentioned to the policyholder.  These bills also contain information on the premium amount, validity date, late fees, etc.  This is sent once the registration has been confirmed.
    • LIC also sends the bills to the authorized bank or the service provider as and when the policy becomes payable.  The bank/service provider then displays this information on the policy holder’s account's net – banking home page.


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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
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