LIC Jeevan Shiromani Plan (Table No. 847) is a new money back plan launched by LIC on 19th December 2017. It is a non-linked, limited premium payment money back plan. It is a with-profits participating plan. This plan is especially designed for HNIs (High Networth Individuals).

It provides a life insurance cover, payouts at regular intervals during the policy term and a lumpsum amount on maturity.This plan also provides cover for critical illnesses and has 3 optional riders.

	Minimum	Maximum
Sum Assured	Rs. 1 Crore	No Limit
Policy Term	14,16,18 and 20 years
Premium Paying Term	Policy term - 4 years
Policyholder’s Age	18 Years (Completed)	55 Years for 14 Year term 51 Years for 16 year term 48 Years for 18 year term 45 years for 20 year term Age here refers to nearest birthday
Maximum Age at Maturity	69 years for 14 years term 67 years for 16 years term 66 years for 18 years term 65 years for 20 years term Age here refers to nearest birthday
Premium Payment Modes	Yearly, Half Yearly, Quarterly and Monthly  Monthly mode is through NACH and Salary deductions only

LIC Jeevan Shiromani provides the following benefits:

• Death Benefit
• Survival Benefit
• Maturity Benefit
• Critical Illness Benefit

The Sum Assured on Maturity in LIC Jeevan Shiromani depends on the policy term and is as follows:

• For 14 Yrs Policy - 40% of Basic Sum Assured
• For 16 Yrs Policy - 30% of Basic Sum Assured
• For 18 Yrs Policy - 20% of Basic Sum Assured
• For 20 Yrs Policy - 10% of Basic Sum Assured

Survival Benefit in LIC Jeevan Shiromani Plan

If policyholder survives each of the specified duration during the policy term, a fixed % of Basic Sum Assured will be payable. This fixed % is as below:

• For 14 Yrs Policy - 30% of Basic Sum Assured on the 10th and 12th policy anniversary.
• For 16 Yrs Policy - 35% of Basic Sum Assured on the 12th and 14th policy anniversary.
• For 18 Yrs Policy - 40% of Basic Sum Assured on the 14th and 16th policy anniversary.
• For 20 Yrs Policy - 45% of Basic Sum Assured on the 16th and 18th policy anniversary.

Maturity Benefit in LIC Jeevan Shiromani

If policyholder survives till the end of the policy term, then he will receive the below benefits in addition to the Survival Benefits mentioned above.

• For 14 Yrs Policy - 40% of Basic Sum Assured + Guaranteed Addition + Loyalty Additions.
• For 16 Yrs Policy - 30% of Basic Sum Assured+Guaranteed Addition + Loyalty Additions.
• For 18 Yrs Policy - 20% of Basic Sum Assured+Guaranteed Addition + Loyalty Additions.
• For 20 Yrs Policy - 10% of Basic Sum Assured+Guaranteed Addition + Loyalty Additions.

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