LIC Jeevan Shree-I
What is the nature of this policy?
LIC Jeevan Shree-I plan is one of the endowment assurance policy which offers various convenient premium paying terms. It gives financial protection in the happening of death throughout the end of policy term. The protection is given along with the maturity amount on survival during the end of policy term. It is suitable for rich individuals like corporate executives, professionals, software engineers, consultants, film stars etc.
The premiums are paid based on yearly or the half – yearly or the monthly or throughout the premium paying term etc. It can also be paid as a lump sum which acts as the single premium.
What are the guaranteed additions along with this policy?
LIC Jeevan Shree - I is available with the guaranteed additions at the rate of Rs. 50. These guaranteed additions are paid along with the basic sum assured at the time of claim.
It will get a share of the profits in the form of bonuses. The simple reversionary bonuses are given as the basic sum at the end of each financial year. After declaration, they become part of the guaranteed benefits of the plan.
What are the various features of this policy?
The various features of LIC Jeevan Shree - I are as listed below.
- You can transfer the policy from one employer to another.
- Maturity benefits are available in five installments.
- Loans are provided.
- Provides limited premium paying term with the risk cover for a longer period.
- It offers both the single and the limited premium terms.
Accidental benefits are provided up to a maximum of twenty five lakhs rupees under LIC Jeevan Shree - I. The additional amount along with the accident benefit sum are payable after the end of life.