Unlock ₹1 Crore with LIC Jeevan Shiromani: Imagine securing a future of financial freedom with just four years of premium payments. LIC Jeevan Shiromani is the answer for those who aspire to achieve this dream. This plan is a blend of savings and protection, tailored for high-net-worth individuals looking for long-term investment stability.
LIC Jeevan Shiromani Plan Details
The LIC Jeevan Shiromani scheme is a non-linked, with-profits, and money-back plan specifically designed for wealth creation and life coverage. It offers a comprehensive package that caters to the financial needs of policyholders at various stages of life.
Key Features of LIC Jeevan Shiromani
- Sum Assured: The policy starts with a minimum sum assured of ₹1 crore, ensuring substantial coverage.
- Premium Payment Term: The plan requires premium payments only for the first four years, making it a convenient option for investors.
- Policy Term: The policy term can range from 14, 16, 18, to 20 years, allowing flexibility in investment duration.
- Survival Benefits: Regular pay-outs during the policy term serve as survival benefits, providing liquidity when needed.
- Critical Illness Coverage
- Guaranteed Additions
Understanding the Benefits of LIC Jeevan Shiromani
LIC Jeevan Shiromani not only secures your financial future but also provides peace of mind with its additional benefits.
Benefits Overview
| Benefit Type | Description |
|---|---|
| Death Benefit | In the unfortunate event of the policyholder’s demise, the nominee receives the sum assured along with bonuses. |
| Critical Illness Benefit | Coverage against 15 critical illnesses is provided as a lump sum to aid in treatment expenses. |
| Guaranteed Additions | Guaranteed additions at the rate of ₹50 per thousand sum assured for the first five policy years. |
| Accrued Bonuses | Bonuses accrue over the policy term, enhancing the maturity amount. |
| Tax Benefits | Premiums paid qualify for tax deductions under Section 80C and maturity proceeds under Section 10(10D) of the Income Tax Act. |
| Loan Facility | The policy allows loan facilities after the completion of one policy year. |
| Maturity Benefit | On survival of the policy term, the policyholder receives the sum assured along with accrued bonuses. |
Eligibility Criteria for LIC Jeevan Shiromani
Before opting for LIC Jeevan Shiromani, ensure you meet the eligibility criteria set by LIC to enjoy its full benefits.
| Criteria | Minimum Requirement | Maximum Limit | Details | Notes |
|---|---|---|---|---|
| Entry Age | 18 years | 55 years | Age at nearest birthday | Must be within the range to opt for the policy |
| Maturity Age | — | 69 years | Age at policy maturity | Ensures coverage in senior years |
| Policy Term | 14 years | 20 years | Choice of policy term | Choose based on financial goals |
| Premium Payment Term | 4 years | 4 years | Fixed payment term | Short commitment with long-term benefits |
How to Apply for LIC Jeevan Shiromani
Applying for LIC Jeevan Shiromani is straightforward and can be done through various channels.
Application Process
- Online: Visit the official LIC website to apply digitally and conveniently.
- Offline: Approach any LIC branch or authorized LIC agent for assistance in application.
Required Documents:
- Identity Proof (Aadhaar, PAN Card, etc.)
- Address Proof (Utility bills, Voter ID, etc.)
Important Considerations
While planning to purchase the policy, consider the following pointers to make an informed decision.
- Consult with financial advisors to align the policy with your financial goals.
- Review policy terms and conditions carefully before finalizing.
- Assess your ability to pay premiums within the stipulated term.
Benefits of Choosing LIC Jeevan Shiromani
Opting for LIC Jeevan Shiromani offers numerous advantages to policyholders, ensuring a secure financial future.
सिर्फ ₹50,000 निवेश से ₹13.56 लाख का रिटर्न – SBI की PPF योजना में जानिए पूरी मैच्योरिटी कैलकुलेशन
| Advantage | Explanation | Impact | Details | Notes | Examples |
|---|---|---|---|---|---|
| High Sum Assured | Provides significant financial security | Ensures coverage against inflation | Protects against unforeseen events | Secures family financially | ₹1 crore base cover |
| Limited Premium Payment | Only four years of premiums | Reduces long-term financial burden | Encourages disciplined saving | Efficient financial planning | Saves on long-term costs |
| Critical Illness Cover | Financial aid during medical emergencies | Alleviates treatment expenses | 15 illnesses covered | Enhances policy value | Support in critical situations |
| Wealth Creation | Combines savings with protection | Long-term financial growth | Bonuses and additions | Promotes financial stability | Accumulates wealth over time |
LIC Jeevan Shiromani is a lucrative investment for those aiming for a secure and affluent future. With a minimum sum assured of ₹1 crore and premium payment for just four years, it paves the way for financial growth and stability.
FAQ Section
What is the premium payment term for LIC Jeevan Shiromani?
- The premium payment term is limited to just four years, making it a convenient option for investors.
Who is eligible to purchase LIC Jeevan Shiromani?
- Individuals aged between 18 and 55 years can purchase the policy, with the maturity age capped at 69 years.
How does the critical illness benefit work in this policy?
- The policy provides a lump sum amount to the policyholder if diagnosed with one of the 15 covered critical illnesses, aiding in medical expenses.
Is there any tax benefit associated with LIC Jeevan Shiromani?
The premiums paid and maturity proceeds of this policy qualify for tax exemptions under the Income Tax Act, making it a tax-efficient investment choice.
Can I apply for LIC Jeevan Shiromani online?
Yes, you can easily apply for the policy through the official LIC website or by visiting any authorized LIC branch.
