LIC runs a variety of schemes, keeping in mind the different needs of its customers. One of these special schemes is Jeevan Shiromani. This scheme is designed for those who have a good income and want to keep their investment safe.
In LIC’s Jeevan Shiromani policy, you have to pay a premium for only four years, although this premium is slightly higher. Jeevan Shiromani guarantees a sum assured of at least Rs 1 crore. There is no limit on the maximum sum assured. So, if you also want protection with high returns, then know the special features of this scheme.
Get benefits worth crores by depositing around ₹94,000 every month
Jeevan Shiromani Policy is a savings scheme that is not linked to the stock market. It is an individual life insurance plan. In this, you have to deposit about ₹ 94,000 every month for 4 years. If you want, you can pay this premium every month, every three months, every six months, or even once a year. To avail of this plan, the policyholder must be at least 18 years old.
If we talk about the upper age limit, then the age for a 14-year policy is 55 years, for a 16-year policy is 51 years, for an 18-year policy, the maximum age should be 48 years, and for a 20-year policy, the maximum age should be 45 years. This is a great option for those who want to make a big investment in a short time.
You will keep getting money from time to time
Under Jeevan Shiromani Yojana, you keep getting money back from time to time. That is why it is also called a money-back plan. If you take a 14-year policy, you will get 30% of your basic insurance amount in the 10th and 12th year. If you take a policy for 16 years, then this amount will be 35% in the 12th and 14th year.
Similarly, if you take a policy for 18 years, then you will get 40% in the 14th and 16th year, and if you take a policy for 20 years, then you will get 45% in the 16th and 18th year. On completion of the policy, the remaining amount will be given to you at once. This facility makes this policy even more attractive.
You can get a big amount with some rules
After one year of taking the policy and if you have paid the premium for a full year, then you can also take a loan with some rules. Apart from this, the death benefit is also included in it. Customers can also take a loan based on the surrender value of the policy. The interest rate that will be charged on taking a loan on the policy will be decided from time to time.
If the policyholder suffers from a serious illness, they get 10% of the insurance amount at once. Money is also received in case of death during the policy term. For more information, you can visit LIC’s website https://licindia.in/. This policy also provides you with financial support in times of need.