Money Back Plans

Jeevan Shiromani Plan 947

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 2^nd 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 & 12^th Policy Anniversary

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

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

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