LIC’s most popular money-back plan: LIC Jeevan Shiromani Plan 947

 For Policy Contact: 8121520197

LIC Jeevan Shiromani Plan

This is a money-back plan for High Net worth Individuals as the plan offers higher levels of sum assured. The USPs include the following –

• • Loyalty additions and guaranteed additions are added to the plan benefits which enhances them
  • Money-back benefits provide easy liquidity
  • There is an inbuilt critical illness benefit which covers 15 critical illnesses.
  • Four additional riders are available for customisation
  • The maturity and death benefits can be taken in instalments

Name of the LIC Plan	LIC’s Jeevan Shiromani Plan
Type of Plan	Money-back plan
Whom does the plan suit?	Risk-averse individuals who want to create savings with insurance and also need liquidity during the policy tenure.
Entry Age	18-55 years
Maximum Maturity Age	65-69 years depending on the policy term
Policy Tenure	14,16,18,20 years
Sum Assured	INR 1 crore onwards
Death Benefit	Sum Assured on death + Guaranteed additions + loyalty additions (if any)
Maturity Benefit	10% to 40% of the sum assured left after paying the money back benefit + Guaranteed additions + Loyalty additions

• Unit linked insurance plans
  Unit linked insurance plans, or ULIPs are they are popularly called, are investment-oriented life insurance plans which promise market-linked returns as well as insurance coverage. Their features are as follows –
  • The premium paid is invested in market-linked investment funds chosen by the policyholder
  • There is the flexibility of switching between the available funds and partial withdrawals
  • There are different funds with different risk profiles so that investors can plan their investments according to their risk appetites
  • The returns are not guaranteed and depend on the market movements.

  ULIPs provide the benefit of investment returns along with insurance and the premium grows along with the market trends. These provide the options of different funds to the policyholder and they can choose according to their risk-capability. However, ULIPs are different from other investment options such as mutual funds and conventional life insurance policies, the best ULIP plans along with their salient features are listed here.