Jeevan Shiromani Plan No.847

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.

Special Features:-

  1. Non-Linked
  2. Money Back
  3. Limited Payment
  4. Guaranteed Addition

 

Eligibility Condition

 

Age GroupPolicy Term
18-15 years14 Years
18-51 Years16 Years
18-48 Years18 Years
18-45 Years20 Years

 

Minimum Basic Sum assured   Rs.1 Crore

 

      Term / Premium Payment Term

TermPremium Payment Term
14 Years10 Years
16 Years12 Years
18 Years14 Years
20 Years16 Years

 

Payment Modes:- Yearly  |  Half Yearly   |   Quarterly   | NACH (Monthly)

    Jeevan Shiromani Survival Benefits  Schedule.

Policy

Term

Survival Benefits Payable During  the Year
10 Years12 Years14 Years16 Years18 Years20 Years

14 Years

30%30%40%*XXX

16 Years

X35%35%30%*XX
18 YearsXX40%40%20%*

X

20 YearsXXX45%45%

10%*

*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

 

Tax Benefits:-

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
    1. Critical Illness Rider,
    2. New Term Assurance Rider
    3. Accident Benefit Rider OR Accidental Death & Disability

 

Just Log 6 to 8 Policies enough to become Qualify  MDRT or COT

 

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