LIC Jeevan Shree Policy offers the policyholder with number of premium payment term s depending on their convenience. It is an Endowment Assurance plan. The policyholder can pay the premiums once a year, twice a year, and and three times a year or can also opt for the payment of premiums through their salary. You can pay the premium till the end of the term or can choose to pay one time single premium.
The LIC Jeevan Shree Policy owner receives a Guaranteed Addition for every completed year during the first five years. These additions are at the rate of Rs 50 per thousand Sum Assured. At the time of claim, these Guaranteed Addition on LIC Jeevan Shree Policy are paid in addition to the basic sum that is assured at the time of claiming the policy.
If your LIC Jeevan Shree Policy completes 6 years then LIC offers you share in the profit that is earned by the corporation. This policy owner receives this share as bonus. These bonuses are revised from time to time and are declared per thousand Basic Sum Assured each financial year. Once they are declared they are included as guaranteed benefits of LIC Jeevan Shree Policy plan.