If you are planning for your retirement and want a secure pension plan, then LIC New Jeevan Nidhi Plan 818 is one of the options you must know about.

What is LIC New Jeevan Nidhi Plan 818?

The LIC New Jeevan Nidhi Plan 818 is a deferred annuity pension plan offered by Life Insurance Corporation (LIC) of India. It helps you build a corpus during the premium payment term, which can then be used to buy an annuity after maturity, providing you a source of regular income post-retirement.

This plan is also a participating with-profits plan, which means it offers guaranteed additions and bonuses in addition to the sum assured.

Key Highlights of the Plan

• It offers two types of premium payment options: Single Premium (pay premium once) and Regular Premium (pay premiums yearly or as per frequency).
• Guaranteed additions are provided for the first five years.
• Simple reversionary bonuses are declared from the sixth year onwards.
• On maturity, the accumulated amount must be used to purchase an annuity plan from LIC.
• Optional riders for accidental death and disability are available.
• No loan facility is provided under this plan.
• The policy is designed to provide a pension from the maturity proceeds.

Launch Date and Withdrawal Date of LIC New Jeevan Nidhi Plan 818

The plan was originally launched several years ago. However, it was withdrawn from the market on 16th January 2020. This means new policies cannot be purchased after this date, but existing policyholders continue to receive the benefits as per the plan terms.​

Eligibility Criteria

Here is the basic eligibility criteria for LIC New Jeevan Nidhi Plan 818:

Criteria	Minimum	Maximum
Age at Entry (last birthday)	20 years	60 years (Single Premium) 58 years (Regular Premium)
Vesting Age (last birthday)	55 years	65 years
Premium Payment Term	5 years (Single Premium) 7 years (Regular Premium)	Up to 35 years
Sum Assured	₹1,50,000 (Single Premium) ₹1,00,000 (Regular Premium)	No limit

The policy term depends on the vesting age and entry age chosen by the policyholder.​

How Does LIC New Jeevan Nidhi Plan 818 Work?

This is a deferred annuity plan. You either pay a lump sum premium (single premium) or regular premiums over the years (regular premium). The money accumulates with guaranteed additions and bonuses until the maturity or vesting age.

At the end of the policy term:

• You will receive the accumulated corpus, including:
  • Sum Assured
  • Guaranteed Additions (Rs. 50 per 1000 Sum Assured for the first 5 years)
  • Vested Simple Reversionary Bonuses (from 6th year onwards)
  • Final Additional Bonus (if declared)
• The accumulated amount is then used to purchase an immediate or deferred annuity plan from LIC to provide you a pension.

Death Benefit

• In case of demise before the vesting date:
  • If death occurs within 5 years of policy purchase, nominee receives Sum Assured + Guaranteed Additions.
  • If death occurs after 5 years but before maturity, nominee receives Sum Assured + Guaranteed Additions + Vested Bonuses + Final Additional Bonus (if any).

Benefits of LIC New Jeevan Nidhi Plan 818

The plan has several benefits, explained simply below:

• Deferred Pension: Helps build a pension corpus for old age.
• Guaranteed Additions: Rs. 50 per 1000 Sum Assured every year for first 5 years.
• Bonuses: Simple reversionary bonuses are declared yearly from 6th year onwards.
• Tax Benefit: Investments up to Rs. 1.5 lakh get tax benefits under Section 80CCC (part of 80C limits). Lumpsum withdrawal on maturity is tax-exempt as per tax laws.
• Death Benefit: Nominee gets a lump sum in case of death before maturity.
• Optional Riders: Accidental death and disability riders can be added for extra protection.
• Flexible Premium Payment: Choose single or regular premiums as per your convenience.

LIC New Jeevan Nidhi Plan 818 Calculator

Calculating your potential returns using the LIC New Jeevan Nidhi Plan 818 calculator helps you understand exactly how much pension you can expect after maturity based on your premium payment and sum assured.

How to Use the Calculator?

The plan calculator usually requires these inputs:

• Your age at entry
• Premium amount (single or yearly)
• Premium payment term
• Policy term or vesting age
• Sum assured

The calculator then estimates the maturity value and expected pension. It factors:

• Guaranteed additions for first 5 years (Rs. 50 per 1000 Sum Assured each year)
• Estimated simple reversionary bonuses from 6th year onwards based on LIC’s declared bonus rates
• Final additional bonus (variable)
• Immediate annuity pension you can buy with the maturity corpus (calculated using rates from LIC’s annuity plans like Jeevan Akshay VI)

Benefits of Using the Calculator

• Helps plan your premium payments realistically.
• Understands maturity proceeds before investing.
• Compare pension options (immediate vs deferred annuity).
• Helps decide between single premium and regular premium plans.

Sample Calculation (Illustrative)

Suppose you enter the following in the LIC New Jeevan Nidhi Plan 818 calculator:

• Age at Entry: 30 years
• Sum Assured: ₹10,00,000
• Premium Type: Regular Premium
• Premium Payment Term: 15 years
• Policy Term/Vesting Age: 60 years (vesting at age 60)

The calculator will show you:

• Total premiums paid
• Guaranteed additions during first 5 years = ₹50 per 1000 Sum Assured * 5 years
• Accrued bonuses from 6th year to maturity
• Estimated final corpus value at maturity
• Possible immediate annuity pension based on corpus

This helps you estimate how much lump sum you will receive and how much monthly or yearly pension you can expect post-retirement.

You can find online versions of LIC New Jeevan Nidhi Plan 818 calculators on various insurance portals and LIC’s official website for exact calculations.​

Important Points to Remember

• The plan was withdrawn from sale on 16th January 2020.
• Existing policyholders can continue and enjoy the benefits until maturity.
• Premiums and sum assured affect the final pension amount.
• The plan requires you to purchase an annuity with the maturity amount; you will not get a lump sum payout except for 1/3rd amount (as per IRDA rules).
• If you choose to purchase a deferred annuity, you cannot withdraw any lumpsum.
• No loan facility is available under this plan.
• Bonus rates are declared yearly and may vary; hence actual maturity proceeds can differ.

LIC New Jeevan Nidhi Plan 818 Vs Other LIC Pension Plans

Feature	LIC New Jeevan Nidhi Plan 818	LIC Jeevan Akshay VI	LIC Jeevan Shanti
Plan Type	Deferred Annuity with Bonuses	Immediate Annuity	Deferred Annuity
Premium Payment	Single or Regular Premium	Single Premium	Single Premium
Bonus	Guaranteed additions + reversionary bonuses	No bonus (pension depends on annuity rates)	No bonus (pension depends on annuity rates)
Pension Payment	After maturity, buy an annuity.	Immediate pension after single premium	Pension starts after deferment
Loan Facility	Not available	Not available	Not available
Entry Age	20 to 60 years	30 to 80 years	30 to 80 years

Tax Benefits under LIC New Jeevan Nidhi Plan 818

Under this plan, you get tax benefits on the premiums paid under Section 80CCC of the Income Tax Act, subject to an overall limit of Rs. 1.5 lakhs under Section 80C. The lump sum received at maturity (which is invested to buy an annuity) is exempt from tax as per existing tax laws. However, pension income received thereafter is taxable as per the policyholder’s income tax slab.​

Why Choose LIC New Jeevan Nidhi Plan 818?

• Trusted LIC brand with government backing.
• Helps build a retirement corpus with guaranteed returns.
• Provides a stable pension post-retirement.
• Bonuses enhance the corpus value.
• Provides financial security for your family in case of death.
• Offers flexibility with single or regular payments.

Frequently Asked Questions

Conclusion

LIC New Jeevan Nidhi Plan 818 is a secure, simple-to-understand pension plan designed to provide financial stability post-retirement. Although the plan is withdrawn, existing policyholders retain the benefits, and it remains a good reference for pension planning. Using the LIC New Jeevan Nidhi Plan 818 calculator helps estimate your returns based on your inputs and plan preferences, making retirement planning efficient and transparent.