LICs Jeevan Shiromani plan offers a combination of protection and savings. This plan is specially designed for High Net-worth Individuals.
At the Buyonlinelic Insurance Agency, we believe in helping you make the right decision based on your lifestyle and needs.
By law, all Life`s in operation in the state of India are required to be insured or bonded.
Jeevan Shiromani plan Details:
This plan provides financial support for the family in case of unfortunate death of the policyholders during the policy term. Periodic payments shall also be made on survival of the policyholder at specified durations during the policy term and a lump sum payment to the surviving policyholder at the time of maturity. In addition, this plan also provides for payment of a lumpsum amount equal to 10% of the chosen Basic Sum Assured on diagnosis of any of the specified Critical Illnesses.
- Survival Benefit: On the life assured surviving to each of the specified durations during the policy term, provided all due premiums have been paid, a fixed percentage of Basic Sum Assured shall be payable. The fixed percentage for various policy terms is as below: For policy term 14 years: 30% of Basic Sum Assured on each of 10th and 12th policy anniversary. For policy term 16 years: 35% of Basic Sum Assured on each of 12th and 14th policy anniversary. For policy term 18 years: 40% of Basic Sum Assured on each of 14th and 16th policy anniversary. For policy term 20 years: 45% of Basic Sum Assured on each of 16th and 18th policy anniversary.
- Maturity Benefit: On the life assured surviving to the end of the policy term, provided all due premiums have been paid, Sum Assured on Maturity along with accrued Guaranteed Additions and Loyalty Addition, if any, shall be payable. Where Sum Assured on Maturity is as under: 40% of Basic Sum Assured for policy term 14 years 30% of Basic Sum Assured for policy term 16 years 20% of Basic Sum assured for policy term 18 years 10% of Basic Sum assured for policy term 20 years.