LIC Jeevan Shiromani(947)

LIC Jeevan Shiromani (947)

LIC Jeevan Shromani(947) is a limited premium, non-linked, with profits; money back Plan with built-in critical illness benefits. Guaranteed additions will accrue @`50 per 1000 of Basic SA for first 5 years and @`55 per 1000 of Basic SA from 6th year onwards until the end of premium paying term. Loyalty additions are also payable from 6th year onwards.
SUM ASSURED ON DEATH: 125% of Basic SA.
DEATH BENEFIT: 
First 5 years: SA on Death + Accrued Guaranteed Additions
From 6th Year onwards: SA on Death + Accrued Guaranteed Additions + Loyalty Additions, if any

SURVIVAL and MATURITY BENEFITS

Policy Term Survival Benefits Maturity Benefits
14 years 30% of Basic SA at end of 10th & 12th
year 40% of Basic SA + GA + LA if any
16 years 35% of Basic SA at end of 12th & 14th
year 30% of Basic SA + GA + LA if any
18 years 40% of Basic SA at end of 14th & 16th
year 20% of Basic SA + GA + LA if any
20 years 45% of Basic SA at end of 16th & 18th
year 10% of Basic SA + GA + LA if any.
INBUILT CRITICAL ILLNESS BENEFIT: On First Diagnosis of any one of specified 15 Critical Illnesses:
1. 10% of Basic SA is paid immediately.
2. Option to defer the payment of premiums (including rider premiums) without interest for 2 years, falling due within 2 years from the date of admission of Critical illness claim.
3. Facility of taking second medical opinion whether a claim is admissible or not; at no extra cost to the policyholder. This facility is available only once during the policy term.
Features & Conditions:
Min. age at entry : 18 years
 Minimum S.A. : `1,00,00,000/- & in
multiples of ` 5,00,000 thereafter.
Maximum S.A. : No limit
Available Riders: 
1. ADDB Rider (Up to full Policy Term) OR AB Rider Up to PPT only. (Max 2 Crores under any option including all Plans)
2. Term Rider
3. Critical Illness Rider
Options:
1. Deferment of Survival Benefits till Maturity or earlier with interest.
2. Maturity in 5/10/15 years, option to be exercised 3 months before maturity.
3. Death Claim in 5/10/15 years, option to be exercised by proposer during his lifetime.
Mode of Payment:
Yearly, Half Yly, Qly & Mly (NACH & SSS only)
Rebates:
Mode Rebate
Yearly : 2%, Half Yly : 1 %
High Basic S.A. Rebate
Upto 1.95 Crores : Nil
2 Crores to 4.95 Crores : ` 0.03 %o Basic SA
5 Crores & Above : ` 0.05 %o Basic SA
Grace Period: One month, but Min 30 days.
15 days for monthly mode.
Claims Concessions: Available
Paid Up/ Surrender/Policy Loan:
After payment of premium of one full year.
Revivals: Within 2 years of FUP.
Back Dating:
Allowed with lean Month’s benefits.
Proposal Form: 300 or 340
Tax Benefits :
On Basic Premiums : u/s 80C
SB/Maturity/Death claim : u/s 10(10D)
LIC Jeevan Shiromani

LIC Jeevan Shiromani