Today we are telling you about a special policy of LIC. Which offers savings as well as protection.
LIC has many good policies to secure your life . About whom very few people know. Today we are telling you about a special policy of LIC. Which offers savings as well as protection. LIC’s Jeevan Shiromani Plan (Table No. 847) is a new money back plan launched by LIC on 19th December 2017.
This is a non-linked, limited premium payment money back plan. This is a market linked with profit scheme. This scheme is specially designed for HNIs (High Net Worth Individuals). The plan also provides cover for critical illnesses and has 3 optional riders available.
Get financial support after death
Jeevan Shiromani Plan provides financial support to the family of the policyholder in case of sudden death during the policy term. In this policy, the facility of payment during a fixed period has been given in case of survival of the policyholders. Apart from this, a lump sum amount is also given on maturity.
These are the Survival Benefit
Survival Benefit means a fixed payment is made on the survival of the policy holders, which is as follows-
>> 30-30 percent of the Sum Assured in the 10th and 12th years of the 14th year policy.
>> 35-35 percent of the sum assured in the 12th and 14th years of the 16-year policy.
>> 40-40 percent of the sum assured in the 14th and 16th years of the 18-year policy.
>> In a 20-year policy, 45-45 percent of the sum assured in the 16th and 18th years.
>Â Maximum age at maturity: 69 years for 14 year policy; 67 years for a 16 year policy; 66 years for an 18 year policy; 65 years for 20 year policy.
>Â Premium can be paid at yearly, half-yearly, quarterly or monthly intervals.
How much loan will
be available During the policy term, the customer can take a loan based on the surrender value of the policy, which will be available on the basis of LIC’s terms and conditions. The policy loan will be available at the rate of interest decided from time to time. This interest rate is currently around 9.5 percent.
for the treatment of illness,
apart from this, a lump sum amount of 10 percent of the basic sum assured is also paid for the treatment in case of any serious illness. Through this policy, you also get a loan easily, so that you can meet your immediate needs. However, the disease should be out of the 15 diseases mentioned in the policy.
Terms and Conditions
> Minimum Sum Assured – Rs.1 Crore
>Â Maximum Sum Assured: No Limit (Basic Sum Assured will be in multiples of Rs. 5 Lakhs.)
>Â Policy Term: 14, 16, 18 & 20 Years
 Premiums to be paid: 4 years
>Â Minimum age for entry: 18 years
>Â Maximum age for entry: 55 years for 14 year policy; 51 years for a 16 year policy; 48 years for an 18 year policy; 45 years for 20 year policy.
