Life Insurance Corporation of India (LIC)’s Jeevan Shiromani Policy is becoming quite popular these days. This policy is designed for people who want to get great returns in a limited period. Under this scheme, investors have to invest for a period of only 4 years, but at the end of this period, they can get a benefit of Rs 1 crore.
Features of LIC Jeevan Shiromani Policy
Investment period and premium payment
- You have to give 4 years time to invest in this policy.
- You can pay your premium on a monthly, quarterly, half-yearly or yearly basis.
Sum Assured
- A sum assured of Rs 1 crore is guaranteed under this policy.
- After buying this policy, you receive an amount of Rs 1 crore on completion of four years of the investment you have made.
Investment options
- If you don’t want to pay monthly, quarterly, half-yearly or yearly premium payment options are available.
Investment amount and returns
- If you invest Rs 94,000 every month for 4 years, the total investment in 4 years will be Rs 45,12,000.
- This investment will eventually yield a return of Rs 1 crore.
Age criteria
- If you invest for a period of 14 years, your age should be 55 years.
- For a period of 16, 18 and 20 years, the age criteria are 51, 48 and 45 years respectively.
Loan facility
- After buying the policy and investing, you can also avail loan facility.
Who can invest?
LIC Jeevan Shiromani policy can be bought by any individual who fulfils the age criteria and is willing to invest for a fixed period.
Conclusion
LIC’s Jeevan Shiromani policy is an excellent investment option, especially for those who want to earn high returns in a limited period. With a guaranteed sum of Rs 1 crore on regular investments over a period of 4 years, this policy can be an ideal way of safe and profitable investment.
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