LIC Jeevan Shiromani policy:
The Life Insurance Corporation of India or LIC caters almost to every group or individual and offers curated policies based upon gender, age, and economic background.
The LIC offers great insurance policies to the middle and lower middle classes.
However, it also has policies for high net worth individuals (HNIs).
Even if the HNIs have substantial wealth, the purpose of life insurance is to provide a secure life for their family.
HNIs should have a good policy to help them cope with uncertain times.
Moreover, the LIC policy interest rate is not affected by stock market movements making it a favourable choice especially for volatile markets.
The HNIs will find the LIC Jeevan Shiromani Policy to be one of the best policies.
What’s the LIC Jeevan Shiromani policy?
According to the insurer’s website, LIC Jeevan Shiromani policy can be considered a savings plan for life insurance that is not linked, participatory, or linked.
This plan is a money-back life insurance plan that has a minimum basic sum assured of Rs 1 million.
It is limited in premium payments and designed to be affordable for high net-worth individuals.
Guaranteed additions will accrue at Rs 50 per thousand Basic sum Assured in the first five years, and Rs 55 per 1,000 Basic Sum Assured starting with the 6th policy year.
The policy will also be eligible to receive Loyalty Additions.
LIC Jeevan Shiromani Policy : Eligibility
To be eligible for the LIC Jeevan Shiromani policy, the policyholder must be at least 18 years of age.
Maximum age is 55 for policy terms 14 and 16, 51 for policy terms 16 and 18, 48 for policy terms 18 and 18 years, 45 for policyterm 20 years.
The policyholder must be at least 69 years old by the time of maturity.
H owe to Get Rs1 Crore with LIC Jeevan Shiromani policy?
Jeevan Shiromani Policy offers a basic amount assured of Rs 1 Crore. The policyholder must invest for four years to get the returns.
The LIC Jeevan Shiromani Policy matures over four terms: 14, 16, 18, and 20 years.
To enjoy the benefits of the LIC Jeevan Shiromani Policy, the policyholder must pay a monthly premium around Rs 94,000.
The LIC Jeevan Shiromani Plan also offers a loan facility, subject to certain conditions.
This is after you have paid your premiums for at minimum one year.