LIC Jeevan Siromani Plan: If you belong to the high income group, then LIC has come up with a great policy for you. The name of this policy is LIC Jeevan Shiromani Plan. By investing in this scheme, you get huge returns in a short period of time. In this policy, you can make a thick fund of up to Rs 1 crore by investing in just 4 years.
LIC Jeevan Siromani Plan: What is LIC Jeevan Shiromani Policy?
LIC’s Jeevan Shiromani Plan is a non-linked, participating, individual, life insurance savings plan. This scheme is designed for high income people. If a policyholder dies before maturity, then in such a situation his family gets financial help. It is also a money back plan in limited premium, in which you get money from time to time.
Gets an insurance amount of 1 crore
In this policy, you get a sum assured of at least Rs 1 crore. At the same time, no limit has been fixed for the maximum sum insured. In this policy, you will have to deposit Rs 94,000 every month. This investment will be for 4 years only. After this you will start getting the return of the policy. You can pay the premium annually, 6 months, quarterly or every month.
Special thing about Jeevan Shiromani
You can buy this policy for 14, 16, 18 and 20 years.
The premium paying term of the policy is only 4 years.
The minimum age to invest in this policy is 18 years.
Whereas, the maximum age for investing in the policy is 55 years (policy term 14 years), 51 years (policy term 16 years), 48 years (policy term 18 years) and 45 years (policy term 20 years).
This benefit is available in the form of money back-
On a 14 year policy you get 30% Sum Assured in 10th and 12th year.
In 16 years policy you get 35% s assured in 12th and 14th year.
In an 18-year policy, you get 40% of the Sum Assured in the 14th and 16th years.
In a 20 year policy, 45% of the sum assured is available in the 16th and 1st year.
LIC’s Jeevan Shiromani plan is a non-linked plan. This is a limited premium money back plan. Whose minimum basic sum assured is Rs 1 crore. This scheme of the Life Insurance Corporation of India has been made keeping in mind the people of the high income group. In this policy, you will have to deposit an amount of Rs 94,000 every month for 4 years. Which you can pay annually, six months, three months or every month.
After which you will start getting its returns. In this plan, you get Basic Sum Assured at the rate of Rs 50 per thousand Basic Sum Assured for five years and at the rate of Rs 55 per thousand Basic Sum Assured from the sixth year till the date of premium payment. The special thing about this plan is that in this you get security as well as savings.
This means that if the policy holder dies in the middle of the policy term, the nominee gets a fixed amount. Along with this, you can also take a loan from the Jeevan Shiromani policy. For this, you have to pay at least one year’s policy premium. For which you also have to follow some conditions.
What is Survival Benefit :-
A fixed percentage of the sum assured is available in the survival benefit of the Jeevan Shiromani policy. For example, in a 14-year policy, 30% of the sum assured is available in the 10th and 12th years. Whereas, on a 16-year policy, 35% of the sum assured is available in the 12th and 14th years. You will get 40% Sum Assured in 14th and 16th year in 18 years policy. Similarly, on a 20-year policy, 45% of the sum assured is available in the 16th and 18th years.
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What are the special features of this scheme:-
People between the age of 18 years to 55 years can invest in Jeevan Shiromani policy. There are four policy terms in this plan. The age limit is 55 years for a policy term of up to 14 years. Similarly, it takes 51 years for a policy term of 16 years, 48 years for a policy term of 18 years and 45 years for a policy term of 20 years. The special thing about the policy is that there is no limit on the maximum sum insured.