LIC’s Jeevan Shiromani

LIC’s Jeevan Shiromani

Product Summary:

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 time 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 Critical Illnesses.This plan also takes care of liquidity needs through loan facility.

Premium Payment Mode

Yly, Hly, Qly, Mly

Mode and High S.A. Rebates:

Mode Rebate:

  • Yearly mode – 2% of Tabular Premium
  • Half-yearly mode – 1% of Tabular premium
  • Quarterly & Monthly – NIL

High Sum Assured Rebate:

  • Basic Sum Assured (B.S.A) Rebate (Rs.)
  • 100,00,000 to 195,00,000 – Nil
  • 200,00,000 to 495,00,000 – 0.030 ‰ B.S.A.
  • 500,00,000 and above – 0.050 ‰ B.S.A.

Policy Term : 14 years, 16 years, 18 years, 20 years

Premium Paying Term : Policy Term – 4 years

Minimum Entry Age : 18 years (completed)

Maximum Entry Age : 55/51/48/45 years for policy term 14/16/18/20 years

Maximum Maturity Age : 69/67/66/65 years for policy term 14/16/18/20 years

Minimum Basic Sum Assured : 1,00,00,000 (Multiples of 5,00,000)

Maximum Basic Sum Assured : No upper limit

Guaranteed Addition : Rs. 50 per 1000 Sum Assured for 1st 5 years and Rs. 55 per 1000 Sum Assured for remaining Premium Paying Term

Optional Rider LIC’s Accidental Death and Disability Benefit Rider,LIC’s Accidental Benefit Rider, LIC’s New Term Assurance Rider, LIC’s New Critical Illnesses Benefit Rider

Policy Benefits:

On Death

Death during first 5 years : Sum Assured on Death + Guaranteed Additions

Death after 5 years : Sum Assured on Death + Guaranteed Additions+Loyalty Additions

“Sum Assured on Death” : 125% of Basic Sum Assured or 10 times of Annualized Premium or 105% of Premium Paid

Survival Benefits

For 14 year Policy : 30% of Basic Sum Assured in 10th and 12th year

For 16 year Policy : 35% of Basic Sum Assured in 12th and 14th year

For 14 year Policy : 40% of Basic Sum Assured in 14th and 16th year

For 14 year Policy : 45% of Basic Sum Assured in 16th and 18th year

On Maturity : Remaining Sum Assured + Guaranteed Additions + Loyalty Additions

Surrender Value

The policy can be surrendered provided at least one full years’ premiums have been paid and after completion of one policy year.

Policy Loan

Loan can be availed during the policy term provided the policy has acquired a surrender value and subject to the terms and conditions as the Corporation may specify from time to time.


The amount of applicable taxes, as per the prevailing rates shall be payable by the policyholder on premiums payable under the policy, which shall be collected separately over and above in addition to the premiums payable by the policyholder. The amount of tax paid shall not be considered for the calculation of benefits payable under the plan.

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