Get benefit of Rs 1 crore with LIC's Jeevan Shiromani Plan, check all details here

If you are planning to invest, then LIC's Jeevan Shiromani Plan is a good option for you. Here, you will get good profit as LIC has prepared the policy keeping all the people in mind. The Jeevan Shiromani Plan offers both protection and savings.

The Jeevan Shiromani Plan is a non-linked plan. In this, you get a guarantee of at least 1 crore of the sum assured. LIC keeps on offering many good policies to its customers to secure their lives.

What is the complete plan?

LIC had started Jeevan Shiromani (Table No. 847) on December 19, 2017. This is a non-linked, limited premium payment money back plan. It is a market-linked benefit scheme and is specially made for HNI (High Net Worth Individuals). This plan also provides cover for critical illnesses. Also, there are three optional riders available in it.

The plan provides financial support to the policyholder's family in the form of death benefit during the policy term. In this policy, the facility of payment has been given during the fixed period in the event of survival of the policyholders. Apart from this, a lump sum amount is also given on maturity.

Survival Benefit i.e. a fixed payout is made on the survival of the policyholders. Below is the payment process.

1. 14 Year Policy -10th & 12th Year 30-30% of Sum Assured
2.  16 Year Policy -12th and 14th year 35-35% of Sum Assured
3.  18 Year Policy -14th & 16th Year 40-40% of Sum Assured
4.  20 Year policy -16th and 18th year 45-45% of the sum assured.

The speciality of this policy is that during the policy term, the customer can also take a loan on the basis of the surrender value of the policy. This loan will be available only on the terms and conditions of LIC. Policy loan will be available at the rate of interest to be decided from time to time.

Terms and conditions

1. Minimum Sum Assured – Rs 1 crore
3. Maximum Sum Assured: No Limit (Basic Sum Assured will be in multiples of 5 lakhs.)
3. Policy Term: 14, 16, 18 and 20 years
4. Till when the premium has to be paid: 4 years
5. Minimum age for entry: 18 years
6. Maximum age for entry: 55 years for a policy of 14 years; 51 years for a 16-year policy; 48 years for an 18-year policy; 45 years for a 20-year policy.