LIC's JEEVAN SHIROMANI PLAN ( TABLE NO-847)

LIC's  Jeevan Shiromani Plan (T-847) is one of the plan which is specially designed for those clients who really want handsome money back amount with high maturity and the key part is in Lic’s Jeevan Shiromani Plan (T-847) is that this plan provides high risk cover which helps you living peaceful life.
LIC's Jeevan Shiromani Plan is non-linked with profit limited premium payment money back life insurance plan specially designed for targeted segment of high net worth individuals.
LIC's Jeevan Shiromani Plan is the first plan in Lic which has inbuilt 15 critical illnesses covered.
KEY FEATURES:

• LIC’s Jeevan Shiromani Plan is available with Inbuilt Critical Illness Rider along with Standalone Accidental Rider for Sum Assured of ₹ 1 Crore.
• Immediate Risk Cover of upto 125% of Sum Assured to the Family from Day 1.
• Jeevan Shiromani Plan Provides Financial Support to the Family in the form of Guaranteed Tax Free Money Back, Tax Free Maturity with Guaranteed Additions along with Loyalty Additions & also on Diagnosis of Specified Critical Illness.
• Jeevan Shiromani Plan is available with Guaranteed Additions of ₹ 50/- per thousand Sum Assured for the First Five Years (₹ 25 Lacks Guaranteed Bonus for SA of ₹ 1 Crore for first 5 years) & there after ₹ 55/- per thousand Guaranteed Additions from 6th year till the end of Premium Paying Term along with Loyalty additions.
• On first Diagnosis of any one of the 15 Critical Illnesses a Lump Sum Benefit of 10% of Basic Sum Assured shall be payable immediately and Premium Payment can be deferred up to 2 Years and no Interest will be Charged for Delayed Payment.
• A medical second opinion option is also available for the policyholder once during the policy term in case of Diagnosis of Critical Illnesses.
• A Waiting Period of 90 Days is Applicable for Critical Illnesses from Date of Commencement of Risk or Revival.
• A Survival Period of 30 Days is also applicable from the Date of Diagnosis of Critical Illness.
• Double Tax Benefit of Section 80C & Section 10(10D).
• Settlement options :
  • For Money Back till Maturity with Interest.
  • For Maturity/Death Benefit to be Decided in Advance for 5/10/15 Years.

POLICY BENEFITS:

Death Benefits:
On Death During First 5 Years: “Sum Assured on Death” along with Accrued Guaranteed Additions shall be payable.
On Death After Completion of 5 Policy Years But Before Maturity: “Sum Assured on death” along with Accrued Guaranteed Additions and Loyalty Additions shall be payable.
Where “Sum Assured on Death” is defined as the higher of :

• 10 times of annualised premium or
• Absolute amount assured to be paid on death, i.e. 125% Basic Sum Assured

Survival Benefits (Money Back):
On the Life Assured surviving the specified duration during the Policy Term, a Guaranteed Money Back shall be payable as below:
For Policy Term 14 Years: 30% of Basic Sum Assured on 10th & 12th Policy Anniversary
For Policy Term 16 Years: 35 % of Basic Sum Assured on 12th & 14th Policy Anniversary
For Policy Term 18 Years: 40 % of Basic Sum Assured on 14th & 16th Policy Anniversary
For Policy Term 20 Years: 45% of Basic Sum Assured on 16th & 18th Policy Anniversary
Maturity Benefits:
On the Life Assured surviving to the end of the Policy Term Sum Assured shall be payable as below:
For Policy Term 14 Years: 40% of Basic Sum Assured along with Accrued Guaranteed Additions & Loyalty Additions.
For Policy Term 16 Years: 30% of Basic Sum Assured along with Accrued Guaranteed Additions & Loyalty Additions.
For Policy Term 18 Years: 20% of Basic Sum Assured along with Accrued Guaranteed Additions & Loyalty Additions.
For Policy Term 20 Years: 10% of Basic Sum Assured along with Accrued Guaranteed Additions & Loyalty Additions.

Inbuilt Critical Illness Benefits:
The following 15 Critical Illnesses are covered under C.I. Rider:

• Cancer of Specified Severity
• Open Chest CABG
• Myocardial Infraction
• Kidney Failure Requiring Regular Dialysis
• Major Organ/Bone Marrow Transplant
• Stroke Resulting in Permanent Symptoms
• Permanent Paralysis of Limbs
• Multiple Sclerosis with Persisting symptoms
• Aortic Surgery
• Alzheimer’s Disease/Dementia
• Blindness
• Third Degree Burns
• Open Heart Replacement/Repair of Valves
• Benign Brain Tumour
• Primary Pulmonary Hypertension

Eligibility Criteria:

Minimum Age to Apply	18 Years(Completed)
Maximum Age to Apply	55 Years (Nearer Birthday) for policy term 14 years 51 Years (Nearer Birthday) for policy term 16 years 48 Years (Nearer Birthday) for policy term 18 years 45 Years (Nearer Birthday) for policy term 20 years
Policy Term	14, 16, 18 & 20 Years
Premium Paying Term (PPT)	Policy Term – 4 Years
Maximum Age at Maturity	69 Years (Nearer Birthday) for policy term 14 years 67 Years (Nearer Birthday) for policy term 16 years 66 Years (Nearer Birthday) for policy term 18 years 65 Years (Nearer Birthday) for policy term 20 years
Premium Paying Mode	Yearly, Half Yearly, Quarterly & Monthly (NACH)
Minimum Basic Sum Assured	₹ 1 Crore
Maximum Basic Sum Assured	No Limits (In Multiple of 5 Lacks)