LICs New Jeevan Shiromani Plan 847

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LIC is going to launch new plan specially crafted for Mumbai on 19 Dec 2017

Jeevan Shiromani 847 Plan

Minimum Sum Assured 1 Cr.
Non linked with profit money back limited premium paying Term
Guaranteed Returns ₹50/1000 for the first 5 years and thereafter ₹55/1000

Age  - 18 to 55

Term - PPT
14 - 10
16 - 12
18 - 14
20 - 16

Benefits of Jeevan Shiromani Plan 847
Death Benefit : Death SA + Guaranteed Additions+ LA.
14 years Term
30% on 10/12 Anniversary
16 years Term
35% on 12/14 Anniversary
18 years Term
40% on 14/16Anniversary
20years Term
45% on 16/18 Anniversary
Maturity Benefit : Balance SA plus GA plus LA.

CANCER COVER PLAN by LIC - Table No 905

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It is a non-linked, regular premium payment health insurance plan which provides fixed benefit in
case the Life Assured is diagnosed with any of the specified Early and/or Major Stage Cancer
during the policy term, subject to certain terms and conditions.
The policy can be purchased Offline as well as Online.

Click to know more about LICs Cancer Cover Plan 905 





NEW SINGLE PREMIUM PLAN - JEEVAN UTKARSH Plan No 846

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LIC to introduce New single premium close ended plan JEEVAN UTKARSH (Plan No.846), for a maximum period of 270 days. LIC’s Jeevan Utkarsh is a single premium, non-linked, with-profits, savings cum protection plan wherein the risk cover is ten times of Tabular Single Premium. 


Benefits of Jeevan Utkarsh Plan:

Death Benefit:

On death during first five policy years
Before the date of commencement of risk: Refund of Single Premium without interest. Single Premium mentioned above shall not include any taxes, extra premium chargeable under the policy due to underwriting decision and rider premium, if any. 
After the date of commencement of risk: “Sum Assured on Death” shall be payable. 

On death after completion of five policy years but before the stipulated Date of Maturity: “Sum Assured on Death” equal to 10 times the Tabular Single Premium along with Loyalty Addition, if any, shall be payable. Where “Sum Assured on Death” is defined as the highest of
125% of the single premium; or
Guaranteed Sum Assured on Maturity i.e. Basic Sum Assured ; or
“Absolute amount assured to be paid on death” i.e. 10 times of Tabular Single Premium
Tabular single premiums mentioned above shall not include any extra amount if charged under the policy due to underwriting decision or taxes and is before applying any rebate for high Basic Sum Assured.

Maturity: On the Life Assured surviving to the end of the policy term, “Sum Assured on Maturity” along with Loyalty Addition, if any, shall be payable. Where “Sum Assured on Maturity” is equal to Basic Sum Assured.

Loyalty Addition: Depending upon the Corporation’s experience the policies under this plan shall be eligible for Loyalty Addition at the time of exit after completion of five policy years in the form of Death during the policy term or Maturity, at such rate and on such terms as may be declared by the Corporation. In addition, Loyalty Addition, if any, shall also be considered in Special Surrender Value calculation on surrender of policy during the policy term, provided the policy has completed five policy years.

Optional Benefit: LIC’s Accidental Death and Disability Benefit Rider shall be available under this plan. LIC’s Accidental Death and Disability Benefit Rider.
LIC’s Accidental Death and Disability Benefit Rider shall be available as an optional rider by payment of additional premium. This rider can be opted for at inception only. The benefit cover under this rider shall be available during the policy term of the base plan. If this benefit is opted for, an additional amount equal to the Accident Benefit Sum Assured is payable on death due to accident, provided the rider is inforce at the time of accident. In case of accidental permanent disability (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly installments spread over 10 years. If the policy becomes a claim by way of death before the expiry of the said period of 10 years, the disability benefit instalments which have not fallen due will be paid along with the claim amount. Beyond the specific details as mentioned in this circular in respect of this rider, for any additional details like refund to be made in respect of this rider on surrender of base plan, requirements of claim, definition of disability etc.,

Eligibility Conditions and Restrictions:
For Base Plan:
a) Minimum Entry Age : 6 years (completed)
b) Maximum Entry Age : 47 years (nearer birthday)
c) Mode of premium payment : Single premium only
d) Minimum Basic Sum Assured : Rs.75,000/-
e) Maximum Basic Sum Assured : No Limit
f) Policy Term : 12 years

Basic Sum Assured shall be in multiples of: Rs. 5,000 – if Basic Sum Assured under a policy is below Rs. 3,00,000 Rs. 20,000 – if Basic Sum Assured under a policy is Rs. 3,00,000 and above Age at entry for the Life Assured is to be taken as age nearer birthday except for the minimum age at entry i.e. 6 years, where it is in completed years. Date of commencement of risk: In case the age at entry of the Life assured is less than 8 years, the risk under this plan will commence from one day before the policy anniversary coinciding with or immediately following the completion of 8 years of age. For those aged 8 years or more, risk will commence immediately.



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