LIC Jeevan Shiromani - Review,Feature,Maturity,Premium Calculator

LIC Jeevan Shiromani Plan Details.

Add caption

LIC Jeevan Shiromani Plan is a Unique Money Back Plan for High Networth Customers.LIC Jeevan Shiromani Plan is a unique plan designed by LIC Of India.

As this policy provides a really good return compared to all other money back segment policies with very good money back option after a specific time.

This policy also provides you facility of Short premium Paying term and in this blog I am Vivek Kumar going to provide you entire details about this plan.

So,stay with us and get knowledge and then do the investment for your future as well for your family.

Feature Of LIC Jeevan Shiromani.

1. Jeevan Shiromani is a traditional policy and not linked with the share market. It means your investment is 100% safe and the maturity amount also assured and not risky.In Share market linked plan and policy a huge risk of money loss is there,but a traditional plan behaves just the opposite. Traditional lic policy will provide you a surety,that your money is secure and you will get it with additional interest.

2. Guaranteed Addition Bonus :-

Existing LIC policy holders are mostly familiar with the Guaranteed Addition Bonus term,but for new customers I will let you know the entire details about this. Actually LIC Invest in government sector and public sector.So,after investing in this LIC gets some benefit and those benefit LIC shared to policy holder in terms of Guaranteed addition bonus. LIC declares its bonus every year in his website and you can go there and check plan wise addition bonus details for specific year.

Now in LIC jeevan shiromani plan guaranteed additional bonus benefit is available and for the first 5 years of policy tenure policy holder will get Rs 50 for every Rs 1000 sum assured and from 6th year onwards policy holder starts receiving Rs 55 for every Rs 1000 sum assured taken. I will share you full maturity calculation formula on my upcoming blogs.So,that you can calculate your plan maturity amount from yourself without any agents help.

Critical Illness Cover :-

Jeevan Shirmani plan has inbuilt critical illness benefit.It means a policyholder,when diagnosed with any kind of Critical illness.Like Cancer ,then these diseases will be covered under this policy without any extra charges.

In the market if you look for policies specifically for critical illness,then it will cost you more than Rs 2000 to 5000,but here it's free. 

LIC Jeevan Shiromani Eligibility Condition :-

	Minimum	Maximum
Sum Assured	1 Crore
Policy Term	14 Year,16 Year	18 Year, 20 Year
Premium Paying Term	(Policy Term - 4 Years)	(Policy Term - 4 Years)
Entry Age Of Policyholder	18 Years	55 Year For 14 Year Term 51 Year For 16 Year Term 48 Year For  18 Year Term 45 Year For  20 Year Term
Maximum Age At Maturity	-	69 for 14 yrs term  67 for 16 yrs term  66 for 18 yrs term  65 for 20 yrs term

Premium Payment Mode :-

Jeevan Shiromani plan provides you premium payment modes as per your comfort.

You can make payment in Yearly,Half Yearly,Quarterly and monthly modes.

Lock In Period :-

Jeevan Shiromani Plan has a lock-in period of 3 Years.It means you can only able to surrender your policy after successful payments of 3 complete years. After 3 Years you are also eligible for Cash Loans and Home Loan in some condition.

Income Tax Benefit :-

Jeevan Shiromani plan provides you a  Tax benefit also under section 80C for premium paid and also under section 10D for maturity return amount.

Maturity Benefit :-

This is the most important point of any policy and everyone should have clear knowledge about the Maturity benefits and Death Benefit.I will share you details step by step.

As I told you that its a money back plan.So,that you will get money back also in 10th year and 12th year of policy in 14 Years Policy Term.

You will get 30% of Sum Assured as cash back,which is equivalent to Rs 30 lakh in 10th year and 30 lakh in 12th Year of policy.

Also at the time of maturity you will get 40% of Sum Assured + Guaranteed Additional Bonus + Loyalty Addition Bonus In Case of Survival.

Below Is an Example for Illustration.I Considered Sum Assured 1 Crore and policy Term 14 Year,In which you need to pay Premium only 10 Year.You will start getting money back from 10th Year.

Policy Term	10th Year (30%)	12th Year (30%)	14th Year (40% +Applicable Bonus)
Survival Benefit	Rs 30 lakh	Rs 30 lakh	Rs 40 lakh + Applicable Bonus
Event Of Unfortunate Death in 13th Year	Rs 30 Lakh	Rs 30 Lakh and Death Benefit also provided to Nominees on 13th Year,which is equivalent to Sum Assured.

As per above example you can calculate the maturity benefit as well Money Back details for other policy terms also.Below I will just share you the money back percentage in different policy term.

Policy Term / Premium Pay Term	Money Back	Amount (Assume Sum Assured = 1 Cr)	Maturity Benefit (Assume Sum Assured = 1Cr)
14 Year / 10 Year	30% of Sum Assured in 10th Year and 12th Year	Rs 30 Lakh in 10th Year and 12th Year Respectively	Rs 1.82 cr Approx
16 Year / 12 Year	35% of Sum Assured in 12th Year and 14th Year	Rs 35 Lakh in 12th Year and 14th Year Respectively	Rs 1.90 Cr Approx
18 Year / 14 Year	40% of Sum Assured in 14th Year and 16th Year	Rs 40 Lakh in 14th Year and 16th Year Respectively	Rs 2.10 Cr Approx
20 Year / 16 Year	45% of Sum Assured in 16th Year and 18th Year	Rs 45 Lakh in 16th Year and 18th Year Respectively	Rs 2.70 cr Approx

So,I am leaving this blog here and in my next blog I will share with you the details of the Maturity calculation formula in Detail.So,If you want to know that formula,then subscribe to my blog.

You can also subscribe to my youtube channel as well.Link is given below for my all social media account.

Twitter :- https://twitter.com/thepolicykart1

Facebook : 

Youtube : https://www.youtube.com/c/ViralVivek