Premium will have to be paid for 16 years, then this policy of LIC will get a ₹ 1 crore return

Life Insurance Corporation of India (LIC) offers a variety of investment options keeping in mind the needs of the people of the country. If you are looking for a plan with assured benefits with bumper returns, So a plan from LIC can end your search. The name of this plan is LIC Jeevan Shiromani Plan.

Know About This Plan

LIC’s Jeevan Shiromani Plan is a non-linked, participating, individual, life assurance savings plan. This is a limited premium payment money-back life insurance plan. This plan is for high-net-worth individuals.

Age Limit to avail This Plan

If you want to take this plan of LIC, then you have to take this plan with a basic sum assured of at least one crore rupee. There is no limit on the maximum sum assured in this. A person in the age group of 48 years to 51 years can take this policy for a maximum period of 16 years. At the same time, a person up to 55 years can take this plan with a maximum policy term of 14 years.

In this way, it is clear that any person can take this plan with the policy term of 14, 16, 18, and 20 years.

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You can also take a loan

A loan facility is also available with this plan. You can take a loan after paying the premium for at least one year. You can take a loan according to the terms attached to the plan.

This is the premium to be paid for the sum insured of one crore

According to the LIC calculator, if a person of 29 years old takes this policy for 20 years, then he will have to pay a premium for 16 years. He will have to pay a premium of Rs 61,438 including taxes every month for the first year. At the same time, from the second year, the person will have to deposit a premium of Rs 60,114.82 every month. On maturity, you will get Rs 1,34,50,000. Policyholders also get survival benefits. Apart from this, on the death of the policyholder during the policy term, a certain sum-insured nominee gets it.