LIC Jeevan Pramukh Policy

LIC Jeevan Pramukh Plan is a special category plan as it is a Life Insurance Policy especially for the Very High Net Worth Individuals. It is basically an Endowment Plan with Limited premium Paying Term which caters to the requirements of very high net worth individuals.

In this plan, premium needs to be paid for a 3, 4 or 5 years but the life cover continues for the entire policy term of a maximum of 25 years. The Sum Assured + accrued Reversionary Bonus + Guaranteed Additions + Terminal Bonus, if any, would be paid to the Life Insured on the policy maturity or to his nominee on earlier death of the Life Insured.
Hence this plan is a very simple Endowment Plan along with Bonus and Guaranteed Additions and Terminal Bonus, if any. This plan caters to the very high net worth individuals because the minimum Sum Assured is Rs 10,00,000.

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Endowment Plan
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Guaranteed Additions
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Large Sum Assured rebate
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Key Features

This plan is an endowment plans which is especially for high net worth individuals
This plan has limited premium paying term of 3, 4 or 5 years
The Sum Assured + Guaranteed Additions + accrued Bonus + Terminal Bonus, if any, is payable on policy maturity or on earlier death.
There are Guaranteed Additions every year for the first 5 policy years.
This policy offers large Sum Assured rebate

There are no Additional Riders available:


Death Benefit

In case of death of the Life Insured, the nominee receives Sum Assured + Guaranteed Additions + Accrued Reversionary Bonus + Terminal Bonus, if any.

Maturity Benefit

At the maturity of the policy, the insured will get the remaining Sum Assured + accrued Reversionary Bonus + Guaranteed Additions + Terminal Bonus, if any.

Income Tax Benefit

Premiums paid under life insurance policy are exempted from tax under Section 80 C and maturity proceeds are exempted from tax under Section 10 (10D)


  Minimum Maximum
Sum Assured (in Rs.) 10,00,000 No Limit
Policy Term (in years) 5 25
Premium Payment Term (in years) 3,4 5
Entry Age of Policyholder 18 65
Age at Maturity - 75
Single Premium (in Rs.) NA NA
Payment modes Single, Yearly, Half-Yearly, Quarterly, Monthly and SSS


angle down iconYou stop paying the premium

If you stop paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions.

angle down iconYou want to surrender the policy

There is a Guaranteed Surrender Value after 3 policy years
Guaranteed Surrender Value = 30% of all premiums paid – 1st year’s premium

angle down iconYou want a loan against your policy

Loan facility is available under this policy