PERSONAL FINANCE
LIC keeps on offering many good policies to its customers to secure their lives. In this plan, you get a guarantee of at least Rs 1 crore sum assured.
When it comes to insurance, the policies of the Life Insurance Corporation of India (LIC) are considered to be much better in terms of risk. That's why people invest in it. Today, we are going to tell you about one such scheme of LIC in which you will get tremendous profit even in lieu of 1 rupee. This policy gives protection as well as savings. Let us know about this policy.
We are talking about Jeevan Shiromani Scheme. This is a savings investment plan, with which big profits can be made. LIC Jeevan Shiromani plan was launched on 19th December 2017. This is a non-linked, limited premium payment money back plan. This plan also provides insurance cover for critical illnesses. This is a market-linked profit scheme. Three optional riders are also provided on it.
LIC keeps on offering many good policies to its customers to secure their lives. In this plan, you get a guarantee of at least Rs 1 crore sum assured. That is, if you deposit one rupee for 14 years, you will get a total return of up to one crore.
It is a market-linked benefit scheme specially made for HNI (High Net Worth Individuals). Jeevan Shiromani plan provides financial support to the policyholder's family in the form of death benefits 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. Under this, the payment process is as follows:
1. 14 Year Policy: 10th & 12th Year - 30-30% of sum assured
2. Policy for 16 years: 12th and 14th year - 35-35% of sum assured
3. 18 Years 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 take a loan on the basis of the surrender value of the policy. But this loan will be available only on the terms and conditions of LIC. Policy loans will be available at the rate of interest to be decided from time to time.
Some terms and conditions for the scheme:
1. Minimum sum assured – Rs 1 crore
3. Maximum sum assured: No limit (Basic sum assured will be in multiple of 5 lakhs)
3. Policy Term: 14, 16, 18 and 20 years
4. Duration of premium payment: 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
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