LIC Policy: If you’re considering investing, this news may be important for you. LIC is the country’s largest insurance company, providing reliable plans for people from all walks of life. LIC policies are beneficial for investors who want a secure future without any risk. The LIC Jeevan Shiromani policy is one such scheme, providing coverage for up to 100 years and providing excellent returns on investment.
What is the LIC Jeevan Shiromani policy?
This is a non-linked, individual, and savings-based life insurance plan specifically designed for those in the higher income bracket who want stability and security for their investments. This policy offers a balanced benefit of both life insurance and investment, making it a premium-based plan.
Investment Amount and Eligibility
If you wish to purchase this policy with a sum assured of ₹1 crore, the minimum premium starts at approximately ₹94,000 per month. Premiums are paid for four years, and payment options are available monthly, quarterly, semi-annually, or annually.
The minimum age for this scheme is 18 years. The maximum age limit varies depending on the policy term: 55 years for a 14-year term, 51 years for a 16-year term, 48 years for an 18-year term, and 45 years for a 20-year term.
Coverage up to 100 years
A key feature of this LIC policy is that it provides life cover to the policyholder until the age of 100. This means the family remains financially secure under any circumstances. This feature distinguishes it from traditional insurance plans, as it offers lifetime protection along with savings.
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Why is the Jeevan Shiromani policy special?
This policy is ideal for those in a stable income bracket who want to plan for the long term, keeping in mind their family’s future financial needs. It offers a balance of stable interest rates, tax benefits, and liquidity. Furthermore, LIC’s credibility further strengthens its position.