New Delhi: Investing is a lifelong affair. An efficient plan has to be drawn up for saving and investing throughout the working years. Let us find out where to invest for maximum and safe returns. LIC has come up with a better investment option LIC Jeevan Shiromani Plan. Here you will get tremendous profit even in 1 rupee.
Jeevan Shiromani Plan, a policy from LIC, is one such great plan with a slew of investment options. Let’s take a look at the details of this policy. ,Also read: Do these banking related tasks at your fingertips, here’s how:,
Sum Assured of Rs 1 crore
LIC’s plan, Jeevan Shiromani is a non-linked plan. In this, you get a guaranteed sum assured of at least Rs 1 crore. ,Also read: Education Loan: Follow These Rules To Cover 100% Of Study Expenses In India Or Abroad, Here Are The Details,
What is Jeevan Shiromani Yojana?
Jeevan Shiromani, LIC’s table number 847 started the scheme on 19th December 2017. This is a non-linked, limited premium paying money-back plan. It is a market linked benefit scheme. This scheme is specially designed for high net worth individuals.
financial help
The plan provides financial assistance to the family of the policyholder in the form of 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 policyholder. Under this it is the payment process.
– 14 year policy -10th and 12th year 30-30 percent of Sum Assured
– 35-35% of the policy sum assured for 16 years-12th and 14th years
– 18 year policy -14th and 16th year 40-40 percent of Sum Assured
– 20 year policy -16th and 18th year 45-45% of the sum assured
loan facility
The feature of the policy is that during the policy term, the customer can take a loan based on the surrender value of the policy. Policy loans will be available at an interest rate as 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 multiples of 5 lakhs.)
– Policy term: 14, 16, 18, and 20 years
– By when to pay premium: 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.