LIC’s Jeevan Shiromani Plan No.847 UIN No.512BN315V01 Launched on 19th December, 2017.
This plan is positioned for High Net worth Citizens or individual i.e., HNI Clients. While private company mostly targeted on HNI clients & Big ticket size policy on the contrary LIC’s does not had special plan to cater HNI Clients So, they launched specific plan to cater this segment.
- Money Back
- Limited Payment
- Guaranteed Addition
|Age Group||Policy Term|
|18-15 years||14 Years|
|18-51 Years||16 Years|
|18-48 Years||18 Years|
|18-45 Years||20 Years|
Minimum Basic Sum assured Rs.1 Crore
Term / Premium Payment Term
|Term||Premium Payment Term|
|14 Years||10 Years|
|16 Years||12 Years|
|18 Years||14 Years|
|20 Years||16 Years|
Payment Modes:- Yearly | Half Yearly | Quarterly | NACH (Monthly)
Jeevan Shiromani Survival Benefits Schedule.
|Survival Benefits Payable During the Year|
|10 Years||12 Years||14 Years||16 Years||18 Years||20 Years|
|*Final S.B with G.Addn.@Rs.50 ( First 5 Yrs ) & Rs.55 (Sub.Years) + Loyalty Additions|
|Death Benefit:- Death Sum Assured + Guaranteed Additions + Loyalty Additions|
Maturity Benefit:- Balance Sum Assured + Guaranteed Additions + Loyalty Additions
Inbuilt Critical Illness :-
|15 Critical Illness Covered|
|10% BSA is payable on Diagnosis of Critical Illness|
|Premium Deferred for 2 years without interest|
|Medical Second Option :-|
Second Opinion Option – Once in policy Term with No Cost to Policyholder
Stand Alone– Accident Benefit Rider for ONE CRORE
|Settlement option :-|
Settlement option removed for other plan but this plan has inbuilt Settlement Option
A] For Survival Benefit till Maturity with interest.
B] For Maturity Benefit / Death Benefit to be decided in advance for
1. 5 Years
2. 10 Years
3. 15 Years
U/S 80C & U/S 10(10)d
Plan Unique Features :-
- Combination of Life & Health Benefit
- Commencement of risk from day one.
- Guaranteed Additions – First 5 years Rs.50 per 1000 BSA
- Subsequent years – (After 5 Years only) if any based on Corporation’s Experience.
- Paid up Value – After Just 1 year
- Loan – Just After 1 Years
- The add on facility of life time subscription free credit card of LIC and Added facilities with this is also proposed.
- Special introduction kit and apps for such clients and dedicated servicing facilities proposed Tax benefits as per available tax provisions on premiums and maturity amounts
- Optional Riders available i.e.LIC’s
- Critical Illness Rider,
- New Term Assurance Rider
- Accident Benefit Rider OR Accidental Death & Disability
Just Log 6 to 8 Policies enough to become Qualify MDRT or COT