LIC Jeevan Shiromani Plan – USP’s

Let’s check some unique selling points of Jeevan Shiromani Plan

• Immediate risk cover of 125% os SA from day 1.
• Inbuilt Critical Illness Rider.
• Money back at regular intervels.
• Guaranteed Additional Bonuses.
• Standalone accidental rider up to ₹ 1 crore.
• Medical 2^nd opinion option is also available.
• Settlement options for money back and maturity/claim amount is also available.
• Double tax benefit of section 80C & section 10(10D) available.

Policy Benefits Of LIC Jeevan Shiromani Plan:

• 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 & 12^th Policy Anniversary

For Policy Term 16 Years: 35 % of Basic Sum Assured on 12^th & 14^th Policy Anniversary

For Policy Term 18 Years: 40 % of Basic Sum Assured on 14^th & 16^th Policy Anniversary

For Policy Term 20 Years: 45% of Basic Sum Assured on 16^th & 18^th 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 Of LIC Jeevan Shiromani plan:

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LIC Bima Shree Plan – USP’s

Let’s check some unique selling points of Bima Shree Plan

• Immediate risk cover of 125% of sum assured from day 1.
• Exclusive plan for the upper middle class.
• Money back at regular intervals.
• Guaranteed Additional Bonuses for full PPT.
• Loyalty Additions after 5 years.
• Premium Waiver Rider for minors.
• 4 year premium holiday.
• Settlement options for money back and maturity/claim amount is also available.
• LIC Bima Shree Plan is available with helpful add-on riders like Accidental Death and Disability Rider, Accident Benefit Rider, Term Assurance Rider & Critical Illness Rider.
• Double Tax Benefit of section 80C & section 10(10D) available.
• Paid up value after 2 years.
• Loan allowed after 2 years. 

Policy Benefits of LIC Bima Shree Plan:

• 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 annualized 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 & 12^th Policy Anniversary

For Policy Term 16 Years: 35 % of Basic Sum Assured on 12^th & 14^th Policy Anniversary

For Policy Term 18 Years: 40 % of Basic Sum Assured on 14^th & 16^th Policy Anniversary

For Policy Term 20 Years: 45% of Basic Sum Assured on 16^th & 18^th 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.

Eligibility Criteria:

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LIC New Money Back Plan – USP’s

Let’s check some unique selling points of New Money Back Plan

• Cover wide age group from 13 years to 45 years.
• Risk cover up to 125% of sum assured from day 1.
• Money back of 15% of sum assured every 5^th year.
• This Plan is available with helpful add-on riders like accidental rider and term rider for extra benefits to the policyholder.
• Double tax benefit of section 80C and 10(10D).
• Policyholders can avail loan facility on this plan after completing 3 years.

Maturity Benefit:

• 15% of Basic Sum Assured is Payable After 5th, 10th and 15th & 20th year of Policy, And at Maturity 40% of Basic Sum Assured + Vested Bonus + FAB.

Death Claim Benefit:

• Sum Assured on Death (125% of Basic Sum Assured) + Vested Bonus + FAB, if any

Eligibility Criteria:

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LIC New Money Back Plan – USP’s

Let’s check some unique selling points of New Money Back Plan

• Cover wide age group from 13 years to 50 years.
• Risk cover up to 125% of sum assured from day 1.
• Money back of 20% of sum assured every 5^th year.
• This Plan is available with helpful add-on riders like accidental rider and term rider for extra benefits to the policyholder.
• Double tax benefit of section 80C and 10(10D).
• Policyholders can avail loan facility on this plan after completing 3 years.

Maturity Benefit:

• 20% of Basic Sum Assured is Payable After 5th, 10th and 15th year of Policy, And at Maturity 40% of Basic Sum Assured + Vested Bonus + FAB.

Death Claim Benefit:

• Sum Assured on Death (125% of Basic Sum Assured) + Vested Bonus + FAB, if any

Eligibility Criteria:

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Key Features

• Cover age group from 15 Years to 66 years.
• Single Premium Plan Means No Future Premium Burden.
• Survival Benefits At Regular Interval (Every Three Year) Helps For Time To Time Expenses.
• Easy Liquidity Plan.
• The Policy Can Be Surrendered At Any Time During The Policy Term.
• Loan Facility Is Available Under This Plan After Completion Of One Policy Year.

Maturity Benefit:

Payment of Single Premium along with Loyalty Addition in case of Life Assured surviving to the end of the policy term.

Survival Benefit:

Payable as given below in case of Life Assured surviving to the end of the specified durations:

• For policy term 9 years: 15% of the Sum Assured at the end of each of 3rd & 6th policy year
• For policy term 12 years: 15% of the Sum Assured at the end of each of 3rd, 6th & 9th policy year
• For policy term 15 years: 15% of the Sum Assured at the end of each of 3rd, 6th, 9th & 12th policy year.

Death Claim Benefit:

• On death during the first five policy years: Sum Assured.
• On death after completion of five policy years: Sum Assured along with Loyalty Addition, if any.

Eligibility Criteria:

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