Investment is a lifelong affair. One has to devise an efficient plan to save and invest throughout the working years. Let us figure out where one should invest for the maximum and secure return. LIC has brought a better investment option LIC Jeevan Shiromani plan. Here you will get tremendous profit even for 1 rupee.
New Delhi: Investment is a lifelong affair. One has to devise an efficient plan to save and invest throughout the working years. Let us figure out where one should invest for the maximum and secure return. LIC has brought a better investment option LIC Jeevan Shiromani plan. Here you will get tremendous profit even for 1 rupee.
Jeevan Shiromani Plan, a policy of LIC, is one such great plan where one has the banging options of investment. Let us have a look at the details of this policy.
Assured amount of Rs 1 crore
LIC’s plan, Jeevan Shiromani is a non-linked plan. In this, you get a guarantee of at least Rs 1 crore sum assured.
What is Jeevan Shiromani Plan?
Jeevan Shiromani, Table No. 847 of LIC started the scheme on 19th December 2017. This is a non-linked, limited premium payment money-back plan. It is a market-linked benefit scheme. This scheme is specially made for High Net Worth Individuals.
Financial support
The plan provides financial support to the policyholder’s family in the form of a death benefit during the policy term. Apart from this, a lump sum amount is also given on maturity.
Survival benefit
Survival Benefit i.e. a fixed payout is made on the survival of the policyholders. Under this, this is the payment process.
– 14 Year Policy -10th & 12th Year 30-30 percent of Sum Assured
– Policy for 16 years -12th and 14th year 35-35 percent of Sum Assured
– 18 Years Policy -14th & 16th Year 40-40 percent of Sum Assured
– 20-Year Policy -16th and 18th Year 45-45 percent of Sum Assured
Loan facility
The specialty of the policy is that during the policy term, the customer can take a loan on the basis of the surrender value of the policy. Policy loans will be available at a rate of interest to be decided from time to time.
Terms and conditions
– Minimum Sum Assured – Rs 1 crore
– Maximum Sum Assured: No Limit (Basic Sum Assured will be in multiple of 5 lakhs.)
– Policy Term: 14, 16, 18, and 20 years
– Till when the premium has to be paid: 4 years
– Minimum age: 18 years
– Maximum age: 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.
