Most people desire to have fulfilling lives. However, leading a high-quality life is often an expensive endeavour that necessitates careful money management. Maintaining economic equilibrium has been the preferred strategy, not only in fancy cities but also in shabby ones.
The stock market offers numerous opportunities for profit, but if you want to invest in a place where your money is safe and your returns are great, the Jeevan Shiromani Plan is a superior option. Even if you only invest one rupee in this strategy, you can still make a significant profit. The "Jeevan Shiromani Plan" provides both security and financial savings. (Also Read: Invest Rs 1500 monthly in THIS scheme to get benefits up to Rs 35 lakhs, know details)
A non-linked plan, the Jeevan Shiromani Plan Benefits are provided by LIC. A basic sum assured of Rs 1 crore is offered by the Jeevan Shiromani Policy, and the policyholder just needs to invest in it for four years before receiving returns. The maturity terms for the LIC Jeevan Shiromani Policy are 14, 16, 18, and 20 years. The LIC Jeevan Shiromani policy's benefits must be paid for each month by the policyholder in the amount of about Rs 94,000.
The LIC Jeevan Shiromani plan also offers a loan opportunity, subject to certain restrictions, following the conclusion of one policy year and the payment of premiums for at least one full year.
LIC's Jeevan Shiromani table number 847 debuted on December 19, 2017. It's a benefit programme with a focus on the market. High net worth people were the target audience when this programme was developed. This plan also offers you protection in the event of a serious illness. There are also three available riders.
At the conclusion of the policy term, the Jeevan Shiromani plan provides a death benefit to the policyholder's family to assist them financially. The policy offers the choice of payment if the policyholders survive for a set amount of time. Additionally, upon maturity, a lump sum payment is made.
LIC's Jeevan Shiromani Plan: Survival benefit
14 year policy -10th and 12th year 30-30% of sum assured
16 year policy -12th and 14th year 35-35% of sum assured
18 year policy -14th and 16th year 40-40% of sum assured
20 year policy -16th and 18th year 45-45% of sum assured
How much loan can be taken?
The customer can borrow money during the policy term using the policy's surrender value as collateral, which is one of this insurance's distinguishing features. The terms and conditions of this loan are the only ones that LIC will issue. A variable interest rate that is regularly determined.
LIC's Jeevan Shiromani Plan: Rules
Minimum Sum Assured must be Rs 1 Crore and maximum sum assured has no limit (Basic Sum Assured will be in multiples of 5 lakhs)
Policy Term: 14, 16, 18 and 20 years
Premium to be paid: 4 Years
Minimum age for the entry is 18 years and maximum age limit is 55 years for policies of 14 years, 51 years for 16 years policy, 48 years for 14 year policy and 45 years for a 20 year policy.
