You’ve probably heard of LIC – the Life Insurance Corporation of India. It’s known for offering insurance plans for every income group.
But the plan we’re talking about today is a bit special. It’s called ‘Jeevan Shiromani’, and it’s designed for those who want to make a large investment with guaranteed returns and security.
What is LIC Jeevan Shiromani?
LIC’s Jeevan Shiromani is a non-linked, individual savings and insurance plan.
This means it is not connected to the stock market, so your money is completely safe. It offers life cover and also returns on your investment.
One of the best features of this plan is that you only need to pay premiums for 4 years, and then you continue receiving benefits for the entire term of the policy.
Minimum Sum Assured: ₹1 crore (no upper limit – invest as much as you want).
Type of Plan: Money-back policy – you get money at regular intervals before the policy matures.
Who Can Buy This Policy?
To buy this policy, your minimum age must be 18 years. The maximum age depends on the policy term you choose:
| Policy Term | Maximum Age |
|---|---|
| 14 years | 55 years |
| 16 years | 51 years |
| 18 years | 48 years |
| 20 years | 45 years |
When Do You Get the Money?
You receive a part of your money at fixed times during the policy term. Here’s how it works:
14-year policy: 30% of the basic sum in the 10th and 12th year
16-year policy: 35% in the 12th and 14th year
18-year policy: 40% in the 14th and 16th year
20-year policy: 45% in the 16th and 18th year
The remaining amount + bonus is paid when the policy matures.
Additional Benefits
Critical Illness Cover: The policy includes cover for 15 serious illnesses. If diagnosed, you get a lump sum amount to help with treatment.
Bonus: Jeevan Shiromani is a Participating Plan, which means you also get a share of LIC’s profits as a bonus, added to your maturity amount.
A Great Option for High-Income Investors
If you earn well and are looking for a safe investment with good returns, LIC’s Jeevan Shiromani is a great choice.
The premium is high, but so are the benefits and payouts. With guaranteed money-back, critical illness cover, and bonus earnings – this policy offers both security and growth.
