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Features of LIC Jeevan Shiromani :


•   This is an investment plan with life risk cover and money back option.
•   It has an inbuilt Critical Illness cover which would pay 10% of the Sum Assured if the policy holder is being diagnosed for any of the 15 Critical Illness.
•   Survival benefit would be provided as money back before 4 years and before 2 years from the date of maturity and lumpsum would be provided on maturity date.

LIC Jeevan Shiromani Eligibility Conditions :


Minimum

Maximum

Sum Assured (in Rs.) 1 crore -
Policy Term 14,16,18,20
Premium Paying Term Permium Term - 4 yrs
Entry Age of Policyholder 18 55 for 14 yrs term
51 for 16 yrs term
48 for 18 yrs term
45 for 20 yrs term
Maximum Age at Maturity - 69 for 14 yrs term
67 for 16 yrs term
66 for 18 yrs term
65 for 20 yrs term
Payment modes Yearly, Half-yearly, Quarterly and Monthly (only through ECS)


Benefits of LIC Jeevan Shiromani :


Maturity Return – At the maturity of the policy,
For 14 years term – 30% of Sum Assured will be paid on 10th and 12th year each and 40% of Sum Assured with Guaranteed additions and Loyalty Additions would be paid on 14th year.
For 16 years term – 35% of Sum Assured will be paid on 12th and 14th year each and 30% of Sum Assured with Guaranteed additions and Loyalty Additions would be paid on 16th year.
For 18 years term – 40% of Sum Assured will be paid on 14th and 16th year each and 20% of Sum Assured with Guaranteed additions and Loyalty Additions would be paid on 18th year.
For 20 years term – 45% of Sum Assured will be paid on 16th and 18th year each and 10% of Sum Assured with Guaranteed additions and Loyalty Additions would be paid on 20th year.

Death Benefit - In case of death of the Life Insured, the nominee will receive 100% of Basic Sum Assured with Guaranteed additions and Loyalty Addition (only if the policy has completed 5 years).

Income Tax Benefit – Available under Section 80 C for Premiums paid and under Section 10 (10D) for returns.
Loan on Policy - Available after payment of 3 full year premium.
Housing Loan Surity-Available.

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Sum Assured

 

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Policy Term (Yrs)
Double Accident Benefit

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LIC Jeevan Shiromani



Jeevan Shiromani is a money back plan with combination of investment and protection.
This plan has been specially designed for High Networth Individual (HNI) with a minimum Sum Assured of 1 crore.
It also has an inbuilt Critical illness rider which pays 10% of the Basic Sum Assured to the policy holder incase if the policy holder is being diagnosed for any Critical Illness.
It also has Guaranteed Addition of Rs.50 per thousand Sum Assured for the first 5 years and Rs.55 per thousand Sum Assured from 6th year onwards.
Loyalty Addition is available after the completion of the 5th policy year.

Service Tax is applicable on the premium paid for this policy, at the rate of 4.5% for the 1st year premium and 2.25% from 2nd year onwards.