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Are you a high net worth individual looking for a life insurance plan that offers both protection and savings? Look no further than LIC Jeevan Shiromani. As the best LIC Agent in Kolkata, I’m excited to share everything you need to know about this premium plan designed specifically for those with substantial financial assets.
Table of Contents
Key Takeaways:
- LIC Jeevan Shiromani is designed for high net worth individuals
- Offers high sum assured starting from ₹1 crore
- Provides regular survival benefits and lump sum maturity benefit
- Includes inbuilt critical illness coverage
- Flexible options for policy term and premium paying term
- Tax benefits under Section 80C and 10(10D)
What is LIC Jeevan Shiromani?
LIC Jeevan Shiromani is a non-linked, participating, individual life assurance savings plan. It’s tailor-made for high net worth individuals who want to secure their family’s future while also building a substantial savings corpus.
Key Features:
- High Sum Assured: Starting from ₹1 crore
- Flexible Policy Terms: Choose from 14, 16, 18, or 20 years
- Premium Paying Terms: 10, 12, 14, or 16 years
- Survival Benefits: Regular payouts during the policy term
- Maturity Benefit: Lump sum payment at the end of the policy term
- Inbuilt Critical Illness Benefit: Coverage for 15 critical illnesses
Why Choose LIC Jeevan Shiromani?
- Financial Security: With a minimum sum assured of ₹1 crore, your family’s future is well-protected.
- Regular Income: Survival benefits provide a steady stream of income during the policy term.
- Tax Benefits: Enjoy tax deductions under Section 80C and 10(10D) of the Income Tax Act.
- Loyalty Additions: Boost your returns with loyalty additions after the 5th policy year.
- Flexibility: Option to defer survival benefits and take them later with interest.
How Does LIC Jeevan Shiromani Work?
Let’s break down the benefits:
Death Benefit:
If the policyholder passes away during the policy term, the nominee receives:
- Sum Assured on Death (higher of 125% of Basic Sum Assured or 7 times the annualized premium)
- Accrued Guaranteed Additions
- Loyalty Additions (if applicable)
Survival Benefit:
Depending on your chosen policy term, you receive a percentage of the Basic Sum Assured at specified intervals:
| Policy Term | Survival Benefit |
|---|---|
| 14 years | 30% at 10th and 12th year |
| 16 years | 35% at 12th and 14th year |
| 18 years | 40% at 14th and 16th year |
| 20 years | 45% at 16th and 18th year |
Maturity Benefit:
At the end of the policy term, you receive:
- Sum Assured on Maturity
- Accrued Guaranteed Additions
- Loyalty Additions (if any)
Inbuilt Critical Illness Benefit:
If diagnosed with any of the 15 covered critical illnesses, you receive:
- 10% of Basic Sum Assured as a lump sum
- Option to defer premium payments for up to 2 years
- Facility for medical second opinion
Who Should Consider LIC Jeevan Shiromani?
This plan is ideal for:
- High net worth individuals
- Business owners
- Senior executives
- Anyone looking for a high-value life insurance policy
How to Buy LIC Jeevan Shiromani?
As the best LIC Agent in Kolkata, I can help you navigate the application process seamlessly. Here’s what you need to do:
- Contact me: Call me at 7980031260 to discuss your requirements.
- Choose your policy details: We’ll determine the best sum assured and policy term for your needs.
- Complete the application: I’ll guide you through the paperwork.
- Medical examination: A standard requirement for high-value policies.
- Policy issuance: Once approved, your policy will be issued.
Remember, life insurance is a long-term commitment. As your trusted LIC Agent in Kolkata, I’m here to help you make the best decision for your financial future. Don’t hesitate to reach out if you have any questions or want to explore LIC Jeevan Shiromani further. Your financial security is my top priority!
Call me at 7980031260 to get started on your journey to financial protection with LIC Jeevan Shiromani.
FAQs:
What is the minimum sum assured for LIC Jeevan Shiromani?
The minimum sum assured is ₹1 crore.
Can I increase my sum assured later?
No, the sum assured is fixed at the time of policy issuance.
Are there any tax benefits?
Yes, you can claim tax deductions under Section 80C and 10(10D) of the Income Tax Act.
What happens if I miss a premium payment?
There’s a grace period of 30 days for yearly, half-yearly, and quarterly modes, and 15 days for monthly mode. If you don’t pay within this period, the policy may lapse.
Can I surrender the policy?
Yes, you can surrender the policy after paying premiums for at least one year and completing one policy year. However, it’s advisable to continue the policy for the full term to enjoy maximum benefits.
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