Jeevan Shiromani Plan (T-847)

Jeevan Shiromani Plan (T-847)

LIC Jeevan Shiromani Plan is a Limited Premium Payment Money Back Plan which is specially designed for HNI customers as the minimum sum assured in this plan is ₹ 1 Crore. This plan is available with Inbuilt Critical Illness Rider so Jeevan Shiromani plan is having benefits like-Life Cover, Money Back, Critical Illness Cover & Guaranteed Additions.

 

LIC Jeevan Shiromani Plan – USP’s

Let’s check some unique selling points of Jeevan Shiromani Plan

  • Immediate risk cover of 125% os SA from day 1.
  • Inbuilt Critical Illness Rider.
  • Money back at regular intervels.
  • Guaranteed Additional Bonuses.
  • Standalone accidental rider up to ₹ 1 crore.
  • Medical 2nd opinion option is also available.
  • Settlement options for money back and maturity/claim amount is also available.
  • Double tax benefit of section 80C & section 10(10D) available.

Policy Benefits Of LIC Jeevan Shiromani Plan:

  • Death Benefits:

On Death During First 5 Years:  “Sum Assured on Death” along with Accrued Guaranteed Additions shall be payable.

On Death After Completion of 5 Policy Years But Before Maturity:  “Sum Assured on death” along with Accrued Guaranteed Additions and Loyalty Additions shall be payable.

Where “Sum Assured on Death” is defined as the higher of :

  • 10 times of annualised premium or
  • Absolute amount assured to be paid on death, i.e. 125% Basic Sum Assured

 

  • Survival Benefits (Money Back):

On the Life Assured surviving the specified duration during the Policy Term, a Guaranteed Money Back shall be payable as below:

For Policy Term 14 Years: 30% of Basic Sum Assured on 10th & 12th Policy Anniversary

For Policy Term 16 Years: 35 % of Basic Sum Assured on 12th & 14th Policy Anniversary

For Policy Term 18 Years: 40 % of Basic Sum Assured on 14th & 16th Policy Anniversary

For Policy Term 20 Years: 45% of Basic Sum Assured on 16th & 18th Policy Anniversary

 

  • Maturity Benefits:

On the Life Assured surviving to the end of the Policy Term Sum Assured shall be payable as below:

For Policy Term 14 Years: 40% of Basic Sum Assured along with Accrued Guaranteed Additions & Loyalty Additions.

For Policy Term 16 Years: 30% of Basic Sum Assured along with Accrued Guaranteed Additions & Loyalty Additions.

For Policy Term 18 Years: 20% of Basic Sum Assured along with Accrued Guaranteed Additions & Loyalty Additions.

For Policy Term 20 Years: 10% of Basic Sum Assured along with Accrued Guaranteed Additions & Loyalty Additions.

 

  • Inbuilt Critical Illness Benefits:

The following 15 Critical Illnesses are covered under C.I. Rider:

  • Cancer of Specified Severity
  • Open Chest CABG
  • Myocardial Infraction
  • Kidney Failure Requiring Regular Dialysis
  • Major Organ/Bone Marrow Transplant
  • Stroke Resulting in Permanent Symptoms
  • Permanent Paralysis of Limbs
  • Multiple Sclerosis with Persisting symptoms
  • Aortic Surgery
  • Alzheimer’s Disease/Dementia
  • Blindness
  • Third Degree Burns
  • Open Heart Replacement/Repair of Valves
  • Benign Brain Tumour
  • Primary Pulmonary Hypertension

 

Eligibility Criteria Of LIC Jeevan Shiromani plan:

Minimum Age to Apply 18 Year Completed
Maximum Age to Apply 55 Years (Nearer Birthday) for policy term 14 years
51 Years (Nearer Birthday) for policy term 16 years
48 Years (Nearer Birthday) for policy term 16 years
 Policy Term  14, 16, 18 & 20 Years
 Premium Paying Term (PPT)  Policy Term – 4 Years
 Maximum Age at Maturity  69 Years (Nearer Birthday) for policy term 14 years
 67 Years (Nearer Birthday) for policy term 16 years
 66 Years (Nearer Birthday) for policy term 18 years
 65 Years (Nearer Birthday) for policy term 20 years
 Premium Paying Mode  Yearly, Half Yearly, Quarterly & Monthly (NACH)
 Minimum Basic Sum                 Assured                  ₹ One Crore
 Maximum Basic Sum               Assured  No Limits (In Multiple of ₹ 5 Lacks) 


LIC Jeevan Shiromani Plan T-847

2 responses to “Jeevan Shiromani Plan (T-847)”

  1. ritu says:

    I saw yor website about LIC. its really very informative . All informations are useful.

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