New Delhi: In terms of risk, the policy of the Life Insurance Corporation of India (LIC) is considered to be much better. That’s why people put their money into it. We’re going to tell you about one of these LIC programs today. Even if you only invest 1 rupee in this program, you will make a huge profit. This coverage offers both protection and savings.
The Jeevan Shiromani scheme is what we’re talking about. It is a savings investment strategy that can generate substantial returns. On December 19, 2017, the LIC Jeevan Shiromani plan was announced. This is an unbound premium refund plan with a limited premium payment period. This plan also includes protection against critical illness. It is a profit strategy that is linked to the market. It also comes with three optional jumpers.
The Jeevan Shiromani Plan Benefits (LIC) plan is actually an unrelated plan. You will receive a guarantee of at least 1 crore in this case. LIC continues to provide its clients with a variety of good policies to protect their lives. In fact, the minimum return on the policy is Rs 1 crore. This example, if you put Re 1 in the bank for 14 years, you can get a total return of up to Rs 1 crore.
On December 19, 2017, Jeevan Shiromani of LIC launched this program. This is an unbound premium refund plan with a limited premium payment period. It is a market-linked benefit plan. This plan is designed specifically for High Net Worth Individuals. This plan also covers you in the event of catastrophic illness. It also contains three optional jumpers.
During the term of the policy, the Jeevan Shiromani plan provides financial support to the insured’s family in the form of a death benefit. The ease of payment is provided for in this policy in the event of the insured’s survival for a specified period. In addition, at maturity, a lump sum payment is made.
Survivorship benefit, a fixed payment that is made on the survival of the insured. Under this is the payment process.
Policy 1.14 years -10th and 12th year 30-30% of the sum insured
2. Policy 16 years -12 and 14 years 35-35% of the sum insured
3. Policy 18 years -14th and 16th year 40 of the insured capital- 40%
4. 20 year policy – 16th and 18th year 45-45% of the sum insured.
The unique feature of this policy is that the client can borrow against the cash value of the policy during the term of the policy. However, this loan will only be granted under the terms and conditions of LIC. The policy loan will be offered at an interest rate to be determined from time to time.
Terms and conditions
1. Minimum sum insured – Rs 1 Crore
3. Maximum sum insured: no limit (the basic sum insured will be in multiples of 5 lakhs.)
3. Policy term: 14, 16, 18 and 20 years
4. When should the premium be paid: 4 years
5. Minimum age
at enrollment: 18 years 6. Maximum age at enrollment: 55 years for policies of 14 years; 51 years for a 16-year contract; 48 years for an 18-year policy; 45 years for a 20-year policy.