LIC: If you want a guaranteed amount of one crore rupees, then you can invest in LIC’s Jeevan Shiromani policy. This is a kind of money back policy. LIC started this policy on December 19, 2017. This policy is for those people whose income is very high. The plan also provides cover for critical illnesses. There are also 3 optional riders available in it. This policy has a minimum sum assured of at least Rs 1 crore, while there is no limit on the maximum in any way.
know also
Its policy term is 14, 16, 18 and 20 years. For this premium has to be paid for four years. The minimum age for entry in the scheme should be 18 years.
At the same time, the maximum age for entry should be 55 years for 14-year policy, 51 years for 16-year policy, 48 years for 18-year policy, 45 years for 20-year policy. Premiums can be paid annually, half yearly, quarterly or monthly.
Loan is also easily available
A lump sum payment of 10% of Basic Sum Assured is also done for treatment in case of any critical illness.
You can also easily get a loan through this policy, so that you can meet your immediate needs. However, the illness should be out of the 15 diseases mentioned in the policy.
During the policy term, the customer can take a loan on the basis of the surrender value of the policy, which will be available on the basis of LIC’s terms and conditions. Policy loan will be available at the rate of interest to be decided from time to time.
These benefits will be available on the survival of the policyholder
30-30 per cent of the sum assured in the 10th and 12th years in the policy of 14 years.
35-35% of the sum assured in the 12th and 14th years of the 16-year policy.
40-40 per cent of the sum assured in the 14th and 16th years of the 18-year policy.
45-45% of the sum assured in the 16th and 18th years in the policy of 20 years.
