LIC Jeevan Shiromani of LIC also
offers savings along with policy protection. This is a non linked plan, in
which a guarantee of a minimum of 1 crore is assured. The sum assured is the
amount that the customer definitely gets from a Life Insurance Corporation of
India. we are telling you about policy details of the special policy of LIC
Jeevan Shiromani. LIC Jeevan Shiromani Policy (Table number 847) of Life
Insurance Corporation is a LIC new money back plan scheme launched on December
19, 2016.
LIC Jeevan Shiromani a non linked, limited premium payment money
back plan. It is a market-linked profit scheme. This scheme is specially
designed for HNI (high net worth) customer. The LIC insurance also provides
cover for critical illnesses and there are 3 alternative riders available. you
can see full details of LIC policy Jeevan Shiromani on LIC site wwwlicindiain
Financial support is available after
death
Jeevan Shiromani plan provides
financial support to the family of policyholders on the occasion of sudden
death casualty during the policy term. In LIC Jeevan Shiromani, the facility
of payment is given during a certain period in case of survival of the
policyholders. Apart from this, a lump sum is also given on maturity to the nominee.
This is the survival benefit
The fixed payment is made on the survival of
the policyholders, which is as follows -
- 30-30 per cent of the sum assured in
the 10th and 12th years in a 14-year policy.
- 35 to 35 per cent of the 12th and the 14th-year sum assured in the 16-year policy.
- 40% of the sum assured in the 14th
and 16th years in the 18-year policy.
45-45 per cent of the sum assured of
16th and 18th years in a 20-year policy.
LIC policy maturity
The maximum age of the policyholder at
maturity is 69 years for a policy of 14 years, 67 years for a 16-year policy,
66 years for 18 years policy, 65 years for a 20-year policy. The premium can be
paid annually, half-yearly, quarterly or monthly mode.
During the LIC Jeevan Shiromani
policy term, the customer can take a loan based on the surrender value of the
policy, which will be based on the terms and conditions of the LIC. The LIC
life insurance policy loan will be available at the rate of interest to be
fixed from time to time. This interest rate is currently around 9.5 per cent.
In case of any type of critical
illness, a lump sum payment of 10 per cent of the basic sum assured is also made
for treatment. Through this LIC Jeevan Shiromani, you also get a loan easily,
so that you can meet your immediate needs. However, illness should be out of
the 15 diseases mentioned in the LIC Jeevan Shiromani.
Terms and conditions
- Minimum Sum Assured - Rs 1 Crore
- Maximum Sum Assured: No Limit
(Basic Sum Assured will be in multiples of 5 lakhs.)
-Policy term: 14, 16, 18 and 20 years
-What time the premium will have to
be deposited: 4 years
-Minimum age for entry: 18 years
-Maximum age for Entry: 55 years for
14 years policy; 51 years for a 16-year policy; 48 years for 18 years policy;
45 years for a 20-year policy.
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