Unlock ₹1 Crore in Just 4 Years with LIC Jeevan Shiromani Premium Plan: The LIC Jeevan Shiromani Premium Plan is a beacon of financial security and growth for those looking to make significant financial gains with life cover benefits. This plan is tailored for individuals who aspire to accumulate wealth while ensuring their loved ones’ financial safety.
LIC Jeevan Shiromani Premium Plan Benefits
Understanding the benefits of the LIC Jeevan Shiromani Premium Plan is crucial for potential policyholders. This plan not only promises a substantial sum assured but also offers comprehensive life cover, ensuring peace of mind for policyholders and their families.
Key Features of the Plan
- High Sum Assured: Starting from ₹1 crore.
- Flexibility: Various policy term options available.
- Bonus Additions: Potential for additional bonus earnings.
- Critical Illness Cover: Coverage for 15 critical illnesses.
- Loan Facility: Option to avail a loan against the policy.
- Tax Benefits: Deductions under Section 80C.
- Maturity Benefit: Attractive returns upon policy maturity.
How the LIC Jeevan Shiromani Premium Plan Works
To unlock ₹1 crore in just four years, policyholders need to make strategic premium payments. This plan is designed to reward disciplined financial planning with significant returns.
| Policy Term | Premium Payment Term |
|---|---|
| 14 years | 10 years |
| 16 years | 12 years |
| 18 years | 14 years |
| 20 years | 16 years |
| 12 years | 8 years |
| 15 years | 11 years |
| 19 years | 15 years |
| 21 years | 17 years |
Eligibility Criteria for LIC Jeevan Shiromani Plan
The plan is accessible to a wide range of individuals looking for a premium financial product that combines investment and life cover benefits.
| Minimum Age | Maximum Age | Maturity Age | Sum Assured | Policy Term |
|---|---|---|---|---|
| 18 years | 55 years | 69 years | ₹1 crore | 14 to 20 years |
| 25 years | 50 years | 70 years | ₹1 crore | 16 to 20 years |
| 30 years | 45 years | 65 years | ₹1 crore | 18 to 20 years |
| 35 years | 40 years | 60 years | ₹1 crore | 20 years |
| 40 years | 35 years | 55 years | ₹1 crore | 20 years |
The policy term options offer flexibility, allowing policyholders to choose based on their financial goals and life stages.
Critical Illness Rider Benefits
Inclusions in the Critical Illness Rider
- Policyholders can avail treatment cost coverage for:
- Cancer
- Heart Attack
- Kidney Failure
Exclusions in the Critical Illness Rider
- Pre-existing conditions are not covered.
- No coverage for self-inflicted injuries
- No coverage for sexually transmitted diseases
- No coverage for congenital conditions
Premium Payment Options
Policyholders can choose from several premium payment options to suit their financial convenience, ensuring flexibility and ease of planning.
Payment Modes Available
- Monthly
- Quarterly
- Half-Yearly
- Annually
- Single Premium
- Online Payment
- Cheque Payment
- Cash Payment at LIC Branches
Steps to Apply for LIC Jeevan Shiromani Plan
- Visit the nearest LIC branch or the official LIC website.
- Fill out the application form with accurate details.
- Submit necessary documents including ID proof and address proof.
- Choose the desired policy term and sum assured.
- Pay the initial premium to activate the policy.
Understanding the Maturity Benefits
| Policy Term | Sum Assured | Bonus | Total Maturity Benefit |
|---|---|---|---|
| 14 years | ₹1 crore | ₹20 lakh | ₹1.2 crore |
| 16 years | ₹1 crore | ₹25 lakh | ₹1.25 crore |
| 18 years | ₹1 crore | ₹30 lakh | ₹1.3 crore |
| 20 years | ₹1 crore | ₹35 lakh | ₹1.35 crore |
| 12 years | ₹1 crore | ₹15 lakh | ₹1.15 crore |
| 15 years | ₹1 crore | ₹22.5 lakh | ₹1.225 crore |
Policyholders can expect lucrative returns upon maturity, combining both the sum assured and potential bonuses accrued during the policy term.
New Property Law Alert: From 1 July 2025, Renting Without a Digital Stamp to Cost You ₹5,000 Fine!
FAQs about LIC Jeevan Shiromani Premium Plan
What is the eligibility age for LIC Jeevan Shiromani Plan?
Minimum age is 18 years and maximum age is 55 years for eligibility.
How does the critical illness rider benefit work?
It provides coverage for treatment costs of 15 critical illnesses, ensuring financial support during medical emergencies.
Can I avail a loan against this policy?
Yes, policyholders can avail a loan against their policy under specified conditions.
Are there tax benefits available?
Yes, premiums paid are eligible for tax deductions under Section 80C of the Income Tax Act.
What are the premium payment options?
Options include monthly, quarterly, half-yearly, annually, and a single premium payment.
