LIC Jeevan Shiromani Coverage: The Life Insurance coverage Company of India, or LIC caters to virtually each class of particular person or teams and comes out with curated insurance policies based mostly on gender, age and financial background. Aside from having nice insurance coverage insurance policies for the center or decrease center courses, the LIC has in place some insurance policies for the Excessive Web Price People or HNIs. Even when they’ve a excessive quantity of wealth on them, the concept of getting a life insurance coverage is to provide a steady life to ones household when they don’t seem to be round. Due to this fact, it’s needed for HNIs to have a great insurance coverage coverage to deal with unsure occasions.
Furthermore, the truth that the rate of interest of LIC coverage shouldn’t be depending on inventory market motion additionally makes it a beneficial choice particularly when they’re unstable. LIC Jeevan Shiromani Coverage is likely one of the most useful insurance policies launched by the corporate for HNIs.
What’s LIC Jeevan Shiromani Coverage?
As per the insurer’s web site, LIC Jeevan Shiromani coverage is a non-linked, collaborating, particular person, life assurance financial savings plan. It’s a restricted premium cost a reimbursement life insurance coverage plan with minimal Primary Sum Assured of Rs 1 crore particularly designed for focused phase of Excessive Web-worth People. Below this plan Assured Additions shall accrue on the fee of Rs 50 per thousand Primary Sum Assured for the primary 5 years and Rs 55 per thousand Primary Sum Assured from sixth coverage yr until the top of premium paying time period. As well as, the coverage shall take part within the earnings in type of Loyalty Additions.
LIC Jeevan Shiromani Coverage: Eligibility
The policyholder must be minimal 18 years previous to avail the LIC Jeevan Shiromani plan. The utmost age restrict is 55 years for coverage time period 14 years, 51 years for coverage time period 16 years, 48 years for coverage time period 18 years, and 45 years for coverage time period 20 years. Due to this fact, on the time of maturity, the policyholder can’t be older than 69 years.
Learn how to Get Rs 1 Crore with LIC Jeevan Shiromani Coverage?
The Jeevan Shiromani Coverage gives a primary sum assured of Rs 1 crore and the policyholder wants to take a position on this coverage for 4 years solely, after which she or he will get the returns. The LIC Jeevan Shiromani Coverage matures in 4 completely different phrases — 14, 16, 18 and 20 years. The policyholder has to pay a month-to-month premium of round Rs 94,000 every month to obtain the advantages of the LIC Jeevan Shiromani coverage.
A mortgage facility can be accessible underneath the LIC Jeevan Shiromani plan, after cost of premiums for a minimum of one full yr’s premium has been paid and on completion of 1 coverage yr topic to sure situations.
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