LIC Jeevan Shree 1 Policy

Sample Premiums for this plan
Healthy | (non-tobacco) | Male | Policy term = 25 years | Policy Payment Term = 16 years
5 Lakhs Cover
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Endowment plans
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Guaranteed Additions
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LIC Jeevan Shree-I Plan is a special category plan as it is a Life Insurance Policy especially for the High Net Worth Individuals. It is basically an Endowment Plan with Limited premium Paying Term which caters to the requirements of high net worth individuals.

In this plan, premium needs to be paid for a maximum period of 16 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 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 simple Endowment Plan along with Bonus and Guaranteed Additions. This plan caters to the high net worth individuals because the minimum Sum Assured is Rs 5,00,000.

Compare this plan with other Investment Plans

LIC Jeevan Shree 1 Policy - Key Features

This plan is an endowment plans which is especially for high net worth individuals
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This plan has limited premium paying term of a maximum of 16 years.
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The Sum Assured + Guaranteed Additions + accrued Bonus is payable on policy maturity or on earlier death.
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There are Guaranteed Additions every year for the first 5 policy years.
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There are 3 Additional Riders available:

  • Accident Benefit Rider
  • Term Assurance Rider
  • Critical Illness Rider
  • ...

LIC Jeevan Shree 1 Policy - Benefits

Death Benefit

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

Maturity Benefit

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

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 (10...

Eligibility conditions and other restrictions in LIC Jeevan Shree-I Plan

  Minimum Maximum
Sum Assured (in Rs.) 5,00,000 No Limit
Policy Term (in years) 5 25
Premium Payment Term (in years) 1 16
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

LIC Jeevan Shree 1 Policy - FAQs

angle right 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 right 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 right iconYou want a loan against your policy

Loan facility is available under this policy

Read Review of LIC Jeevan Shree 1 in Marathi > | LIC Jeevan Shree 1 in Hindi >