Jeevan Shiromani - 947

LIC's Jeevan Shiromani plan offers a combination of protection and savings. This plan is specially designed for High Net-worth Individuals. This plan provides financial support for the family in case of unfortunate death of the policyholders during the policy term. Periodic payments shall also be made on survival of the policyholder at specified durations during the policy term and a lump sum payment to the surviving policyholder at the me of maturity. In addition, this plan also provides for payment of a lumpsum amount equal to 10% of the chosen Basic Sum Assured on diagnosis of any of the specified Crical Illnesses. This plan also takes care of liquidity needs through loan facility.

Survival Benefit: On the life assured surviving to each of the specified durations during the policy term, provided all due premiums have been paid, a fixed percentage of Basic Sum Assured shall be payable. The fixed percentage for various policy terms is as below:

For policy term 14 years: 30%of Basic Sum Assured on each of 10^th and 12^th policy anniversary.

For policy term 16 years: 35%of Basic Sum Assured on each of 12^th and 14^th policy anniversary.

For policy term 18 years: 40%of Basic Sum Assured on each of 14^th and 16^th policy anniversary.

For policy term 20 years: 45%of Basic Sum Assured on each of 16^th and 18^th policy anniversary.

1. Benefits payable under an inforce policy (where all due premiums have been paid): Maturity Benefit: On the life assured surviving to the end of the policy term, provided all due premiums have been paid, “Sum Assured on Maturity” along with accrued Guaranteed Additions and Loyalty Addition, if any, shall be payable.

Where “Sum Assured on Maturity” is as under:

40%of Basic Sum Assured for policy term 14 years

30%of Basic Sum Assured for policy term 16 years

20%of Basic Sum assured for policy term 18 years

10%of Basic Sum assured for policy term 20 years

Inbuilt Critical Illness Benefit:

I. Benefit: On first diagnosis of any one of the 15 critical illnesses as mentioned below, provided the policy is inforce on the date of diagnosis by payment of all premiums due under the policy, the following benefits/ facilities shall be available:

i) Lump sum Benefit: Inbuilt Critical Illness Benefit equal to 10% of Basic Sum Assured shall be payable provided the claim is admissible.

Provided the policy has completed five policy years and at least 5 full years' premium have been paid, then depending upon the Corporation's experience the policies under this plan shall be eligible for Loyalty Addition at the _me of exit in the form of Death during the policy term or Maturity, at such rate and on such terms as may be declared by the Corporation. Under a paid-up policy, Loyalty Addition shall be payable for the completed policy years for which the policy was inforce.

In addition, Loyalty Addition, if any, shall also be considered in Special Surrender

Value calculation on surrender of policy during the policy term, provided the policy has completed five policy years and at least 5 full years' premium have been paid. In case of surrender of policy, Loyalty Addition shall be payable for the completed policy year for which the policy was inforce.

The actual allocation to policyholders, out of the surplus emerging from the actuarial investigation, shall be as approved by Central Government in accordance with provisions in this regard under LIC Act, 1956.

Guaranteed Additions shall accrue at the end of each policy year during the Premium Paying Term (PPT), provided all due premiums have been paid till date.

The rate of Guaranteed Additions shall be as follows:

• Rs. 50 per thousand Basic Sum Assured for first five years

• Rs.55 per thousand Basic Sum Assured from 6th policy year_ll end of PPT

In case of a paid-up policy or on surrender of a policy the Guaranteed Addition for the policy year in which the last premium is received will be added On proportionate basis in proportion to the premium received for that year.

Eligibility Conditions and Other Restriction :

a) Minimum Basic Sum Assured : Rs. 1,00,00,000

b) Maximum Basic Sum Assured : No limit (The Basic Sum Assured shall be in multiples of Rs. 5,00,000/-)

c) Policy Term : 14, 16 , 18 and 20 years

d) Premium Paying Term : (Policy term– 4) years

e) Minimum Age at entry : 18 years (completed)

f) Maximum Age at entry : 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 (nearest birthday) for policy term 20 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

Date of commencement of risk under the plan:

Risk will commence immediately from the date of acceptance of the risk.

For Consultation Call Us @ +91 - 9028917175, +91 - 7892795163