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LIC Jeevan Shikhar Plan

LICs Jeevan Shikhar Plan

Life Insurance Corporation (LIC) of India has launched another endowment plan Jeevan Shikhar, just days after launching Jeevan Labh on January 4. Jeevan Shikhar launched on January 11, is a limited-period closed-ended plan, available for 120 days from the launch date i.e till March 31, 2016. This is a participating, non-linked, savings cum protection single premium plan wherein the risk cover is ten times of tabular single premium. Those in the age of 6-45 brackets can opt for this plan. You can choose the maturity sum assured and your single premium payable will depend on this amount and your age. The minimum sum assured is Rs 100,000 with no upper limit. The policy term is 15 years and the maturity sum assured will be in multiples of Rs 20,000. A loan facility is also available on this plan.

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Death Benefit
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Loyalty Addition
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Rebate on premium

Compare this plan with other Investment Plans

LIC Jeevan Shikhar Plan - Key Features

Death Benefit
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On death during first five policy years: Before the date of commencement of risk, single premium without interest is refunded. After the date of co...

Maturity Benefit
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if policyholder survives the term, maturity sum assured along with loyalty addition, if any, shall be payable.

Loyalty Addition
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Depending upon the corporation's experience, the policy shall participate in the profits in the form of Loyalty Addition. The loyalty addition, if ...

Rebate on premium
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The plan also offers a rebate in tabular premium on per Rs.1,000 maturity assured amount.
  • For maturity assured amount between Rs.2...

Loan facility
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Can be availed during the policy term after 3 months from the date of issuance or after the expiry of the free-look period, whichever is later. D...

How it Works?

On surviving the policy term, the policy holder gets maturity sum assured along with loyalty addition (applicable, if any). In case of death before the date of commencement of risks, single premium (not including any extra amount if charged under the policy due to underwriting decision and taxes) without interest will be refunded. However, after the date of commencement of risk, sum assured on death equal to 10 times the tabular single premium shall be payable. For those aged 8 years or more at entry, risk will commence immediately from the date of issuance of policy. However, if the age of life assured is less than 8 years, the risk under this plan will commence on policy anniversary coinciding with or immediately following the age of 8 years.
Age at entry (Nearest Birthday) Tabular Single Premium Rates (Rs.)
10 398.55
20 410.25
30 425.8
40 514.8

Eligibility conditions and other restrictions in LIC JEEVAN SHIKHAR

Entry Age Minimum: 6 years (completed)
Maximum: 45 years (nearer birthday)
Minimum Maturity Sum Assured: Rs. 100,000/-.
Maximum Maturity Sum Assured: No Limit.
Policy term: 15 years.
Premium Payment Mode: Single Premium.
Maturity Sum Assured: Multiple of Rs. 20,000/-.

LIC Jeevan Shikhar Plan - FAQs

angle right iconWhat if I Want to surrender your policy?
The Guaranteed Surrender Value shall be as under:
  • If policy is surrendered in first year: 70% of the single premium
  • Thereafter: 90% of the single premium
(This will not include any extra amount if charged under the policy due to underwriting decision and taxes)

If the policy is surrendered after completion of five policy years applicable loyalty addition (if any) will also be paid.