LIC Jeevan Shree-I Plan is a special category plan as it is a Life Insurance Policy especially for the High Net Worth Individuals. It is basically an Endowment Plan with Limited premium Paying Term which caters to the requirements of high net worth individuals.
In this plan, premium
needs to be paid for a maximum period of 16 years but the life cover continues
for the entire policy term of a maximum of 25 years. The Sum Assured + accrued
Reversionary Bonus + Guaranteed Additions would be paid to the Life Insured on
the policy maturity or to his nominee on earlier death of the Life Insured.
Hence this plan is a simple Endowment Plan along with Bonus and Guaranteed Additions. This plan caters to the high net worth individuals because the minimum Sum Assured is Rs 5,00,000.
- This plan is an endowment plans which is especially for high net worth individuals
- This plan has limited premium paying term of a maximum of 16 years.
- The Sum Assured + Guaranteed Additions + accrued Bonus is payable on policy maturity or on earlier death.
- There are Guaranteed Additions every year for the first 5 policy years.
- Optional higher cover through 3 additional riders