LIC Jeevan Shiromani Policy assures to make you a Crorepati in 4 years, Read to know how much to invest and where. The policy provides a basic sum assured of Rs 1 crore, and the policyholder must invest in this policy for only four years before receiving the profits.
Indians often use the Life Insurance Corporation, or LIC, to buy insurance policies. As a result, the LIC has selected specialized approaches for a specific demographic. For people of all ages and classes, the government-backed organization provides a wide range of insurance alternatives. A LIC insurance is a smart alternative because the interest rate is unaffected by changes in the stock market, especially during market fluctuations. One of the most effective policies that the company has ever introduced, is the LIC Jeevan Shiromani Policy.
Additionally, the fact that LIC policies’ interest rates are independent of stock market movement makes them a desirable choice, particularly when those markets are unstable. In accordance with which, makes the LIC Jeevan Shiromani Policy one of the most advantageous policies of all time.
The LIC Jeevan Shiromani policy is a participating, non-linked individual life assurance savings plan. It is a limited premium payment money back life insurance plan, designed exclusively for the targeted group of High Net-worth Individuals, with a minimum Basic Sum assured of Rs. 1 crore. In accordance with the terms of this plan, Guaranteed Additions will form at a rate of Rs. 50 per thousand Basic Sum Assured for the first five years and Rs. 55/- per thousand Basic Sum Assured beginning with the sixth policy year and continuing through the conclusion of the premium payment period. Additionally, the policy will receive Loyalty Additions as a portion of the profits.
To be eligible for the LIC Jeevan Shiromani plan, the policyholder must be at least 18 years old. For policies with a 14-year term, the maximum age is 55; 51 for those with a 16-year term; 48, for those with an 18-year term; and 45 for those with a 20-year term. Therefore, the policyholder cannot be older than 69 years at the time of maturity. The policy offers a basic sum assured of Rs 1 crore, and the policyholder simply needs to make investments for four years before receiving profits. The maturity terms for the LIC Jeevan Shiromani Policy are 14, 16, 18, and 20 years. To get the desired benefits, the policyholder must pay a monthly premium of about Rs 94,000.