LIC offers different insurance plans for different types of customers. If you have a high monthly income, the LIC Jeevan Shiromani Policy can be a great choice.
Under this plan, you pay premiums for four years and can receive returns of around ₹1 crore or more.
This policy guarantees returns — your payout will not be less than ₹1 crore, though it can be higher. Let’s understand how this plan works in detail.
Premium Payment and Eligibility
LIC’s Jeevan Shiromani Policy is a savings and life insurance plan, not linked to the stock market. You will need to pay ₹94,000 per month for four years.
To buy this plan, the minimum age required is 18 years, and the maximum age limit is 55 years.
The policy also provides periodic money-back returns, which makes it a money-back plan.
Loan and Additional Benefits
After completing one year and paying all premiums for that year, you may become eligible for a loan under this policy. The loan interest rate is decided by LIC from time to time.
In case of the policyholder’s death, the nominee receives a death benefit.
Additionally, if the policyholder is diagnosed with a serious illness, they can receive 10% of the policy amount for medical treatment.
For more details, you can visit LIC’s official website.
