Official Confirmation: LIC’s Nav Jeevan Shree (Plan No. 912, UIN 512N387V01) is listed as withdrawn during FY 2025-26 on LIC’s official page (licindia.in/withdrawn-plans, updated February 19, 2026). It’s Sr. No. 3 in the list.licindia+2
Key takeaway: New sales have stopped. Existing policyholders are fully protected. If seeking similar benefits + tax-saving before March 31 (Old Regime 80C), focus on currently available LIC plans.
Here’s the corrected, complete picture – no hype, just facts from official sources.
Accurate Plan Details (From Official LIC Brochure)
Launch: July 2025
Type: Non-par, non-linked endowment plan with guaranteed additions
Correct Specifications:policybazaar+2
- Premium Paying Term (PPT): 6, 8, 10, or 12 years only
- Policy Term: 10-20 years (e.g., 10-20 years for PPT 6; 16-20 years for PPT 12)
- Entry Age: 30 days to 60 years
- Minimum Sum Assured: ₹5 lakh (no upper limit, subject to underwriting)
- Guaranteed Additions: 8.5%-9.5% of total tabular annual premium (vested at maturity/death)
- Benefits:
- Maturity: Sum Assured + Guaranteed Additions
- Death: Higher of (10x annualized premium, Sum Assured, or 105% claims) + Guaranteed Additions
- No survival benefits (not money-back)
- No bonuses/loyalty additions (non-participating)
Why popular: High guaranteed returns + life cover + Section 80C eligibility (Old Regime).
Why LIC Withdrew Plan 912 (Normal Industry Practice)
LIC withdraws 20-50+ plans yearly due to:
- IRDAI product lifecycle rules (2-5 year shelf life)
- Pricing updates (interest rates, mortality, claims experience)
- Newer competitive products
- Regulatory rationalization
Timeline:
- July 2025: Launched
- ~Jan/Feb 2026: Withdrawn (exact date not public; listed Feb 19)
- March 31 urgency: Not applicable – withdrawal unrelated to FY-end/tax deadline
Reality check: No new sales possible post-withdrawal notice. “Pending applications” at branches unlikely after 1-2 months.
Existing Policyholders: Nothing Changes
100% Protected (standard for all withdrawn LIC plans):policybazaar+1
✅ Continue to maturity – full Sum Assured + Guaranteed Additions
✅ Premiums: Pay as scheduled
✅ Death benefit: Tax-free under Section 10(10D)
✅ Maturity: Tax-free if premium ≤10% Sum Assured + ₹5 lakh aggregate cap rules met
✅ Surrender/Loan: Per policy terms (early surrender = poor value)
Action needed:
- Pay premiums on time
- Update nomination if changed
- Avoid early surrender (lose 30-50% premiums in first 3-5 years)
Can You Still Buy Plan 912 Before March 31?
No – new business closed. Don’t waste time chasing branches/agents for “pending” applications (rare post-withdrawal).
For FY 2025-26 tax-saving (Old Regime 80C): Buy from active LIC plans below before March 31.
3 Accurate LIC Alternatives (All Currently Active)
1. LIC’s Jeevan Utsav (Plan 871) – Strong Long-Term Income Option
Type: Whole-life non-par with Guaranteed Additions + post-premium income
Key Features:bankbazaar+2
- Guaranteed Additions: ₹40 per ₹1,000 Sum Assured during PPT
- Post-PPT Income: 10% annual Sum Assured (Regular option) or Flexi-interest
- PPT: 15-21 years
- Cover: Lifelong (to age 100)
- Tax: 80C premiums + 10(10D) payouts
Best for: Long-term guaranteed income + cover (not exact 912 match, but solid).
2. LIC’s New Jeevan Anand (Plan 815/915 variants) – Whole Life Protection
- Limited PPT (10-26 years)
- Maturity benefit + whole-life death cover continues post-maturity
- Lower guaranteed returns vs endowment, higher protection
- Tax: 80C + 10(10D)
Best for: Lifelong family security.
3. LIC’s Saral Jeevan Bima (Plan 859) – Pure Term Protection
- Low cost: ₹50 lakh cover ~₹10,000/year (age 30, non-smoker)
- No maturity/savings – 100% protection
- Tax: 80C eligible; death benefit 10(10D) tax-free
Best for: Max cover at min premium (invest surplus elsewhere).
Quick Comparison Table (Goal-Based)
| Goal | Best Active Plan | Why? | 80C Eligible? |
|---|---|---|---|
| Guaranteed Savings + Cover | Jeevan Utsav 871 | Additions + lifelong income | ✅ Yes |
| Lifelong Protection | New Jeevan Anand 815/915 | Whole life post-maturity | ✅ Yes |
| Max Protection (Low Cost) | Saral Jeevan Bima 859 | ₹50L for ₹10k/year | ✅ Yes |
All qualify for Old Regime 80C (up to ₹1.5 lakh total) + Section 10(10D) tax-free payouts (conditions apply).cleartax+1
Action Plan Before March 31, 2026
No Plan 912 Policy?
- Skip Plan 912 – withdrawn, unavailable
- Calculate need: 10-15x income + loans (use licindia.in calculator)
- Choose active plan above based on goal
- Get quote today – licindia.in or branch
- Pay premium by March 31 (Old Regime 80C)
- Term first (859), then savings if needed
Have Plan 912?
- Continue premiums – fully protected
- Don’t surrender early
- Top-up coverage if inadequate (add term plan)
Everyone:
☐ Check YOUR plans: licindia.in/withdrawn-plans
☐ Old vs New Regime tax calculation
☐ Ensure ₹1 crore+ total family cover
☐ Annual policy review reminder
FAQ: Top Questions Answered
“Is Plan 912 completely dead?”
New sales: Yes. Existing policies: No – continue fully.
“Recent premium paid – can I cancel?”
Free-look period (15-30 days). Contact branch immediately.
“Will other LIC plans disappear?”
Normal: 20-50/year withdrawn. Check withdrawn list monthly.
“Tax-saving still possible?”
Yes – active plans qualify for 80C (Old Regime) before March 31.
Get Clarification (No Pressure)
Shagun Verma – LIC Advisor, Himachal Pradesh
Free help: Check your plans’ status, coverage needs, quotes, tax regime analysis.
WhatsApp “LIC CHECK” to 7651032666
lifeinsuranceadvisor.in
No sales push – just verify facts, get quotes from official sources.
Important Disclaimer (Educational Only)
Information from licindia.in (March 6, 2026). Verify yourself.
- Withdrawals: licindia.in/withdrawn-plans
- Tax: Income Tax Act (80C/10(10D)); consult CA
- Premiums/Benefits: Vary by age/health; exclude GST (18%)
- IRDAI: Insurance has risks. Read brochure/policy document before buying.
