LIC Unveils New Jeevan Sathi: Joint-Life Cover For Couples With Savings And Protection

Revamped Joint-Life Plan For Couples

The refreshed Jeevan Sathi policy is designed as a joint-life, savings-cum-protection plan where both husband and wife are covered under a single policy. LIC has introduced two variants New Jeevan Sathi (Single Premium) and New Jeevan Sathi (Limited Premium) to cater to couples with different cashflow preferences. The product has been formally rolled out by LIC’s management and will be available for sale from June 1, 2026, through LIC’s agency and bancassurance network.

What The New Jeevan Sathi Offers
Coverage structure and eligibility

Under New Jeevan Sathi, both partners are treated as primary lives, with benefits payable on death of either or both, subject to policy terms. The minimum basic sum assured is Rs 3,00,000, while the maximum is subject to underwriting, effectively allowing higher covers for eligible couples. Entry age starts at 18 years, with upper limits varying depending on whether the single-premium or limited-premium option is chosen.

Savings, guarantees and payouts

The plan blends protection with savings through guaranteed additions and maturity benefits, making it suitable for long-term family goals such as children’s education or retirement planning. On surviving the policy term, the couple receives the maturity sum assured plus applicable additions; in case of death, the policy pays out the sum assured and benefits as per the joint-life structure. LIC highlights this as a way to consolidate two separate covers into one policy while retaining comprehensive protection.

Positioning In LIC’s Product Suite

LIC is positioning the revamped Jeevan Sathi as a core joint-life proposition for married couples, especially those in younger and mid-income segments looking for both discipline in savings and long-term risk cover. With rising awareness of dual-income households and financial planning for spouses, the insurer expects New Jeevan Sathi to strengthen its traditional endowment and joint-life portfolio. The launch also supports LIC’s broader push to refresh legacy plans with updated features, regulatory compliance and more contemporary benefit structures.

Key Highlights

1. LIC launches revamped New Jeevan Sathi joint-life savings-cum-protection plan for couples
2. Two variants introduced: New Jeevan Sathi (Single Premium) and New Jeevan Sathi (Limited Premium)
3. Minimum sum assured Rs 3,00,000; no fixed upper cap, subject to underwriting
4. Plan offers guaranteed additions, maturity benefits and joint-life death cover
5. Entry age from 18 years; maximum entry age varies by premium option
6. Available for sale from June 1, 2026, via LIC’s distribution network
7. Aimed at couples seeking combined life cover and disciplined long-term savings

Sources: LIC releases, LIC product brochures, Economic Times coverage