LIC Jeevan Shree 1

Jeevan Shree 1

Summary:
Jeevan Shree 1 Table No.162 is an Endowment Assurance plan.  Jeevan Shree-I is offering the choice of many convenient premium paying terms. It provides financial protection against death throughout the term of the plan with the payment of the maturity amount on survival to the end of the policy term. Jeevan Shree-I is suitable for high-worth individuals i.e Corporate Executives, Professionals, Software Engineers, Industrialists, Consultants, Estate owners, Builders, NRIs, Models, Film stars, etc.

Premiums:
Premiums are payable yearly, half-yearly, quarterly, monthly or through Salary deductions, as opted by you, throughout the premium paying term or till earlier death. Alternatively, the premium may be paid in one lump sum (Single premium).

Guaranteed Additions:
Jeevan Shree 1 comes with Guaranteed Additions at the rate of Rs. 50/- per thousand Sum Assured for each completed year for the first five years of the policy. The Guaranteed Additions are payable along with the Basic Sum Assured at the time of claim.

Bonuses:
The policy participates in the profits of corporations business from the 6th year onwards. Jeevan Shree-I will get a share of the profits in the form of bonuses. Also, a Simple Revisionary Bonuses will be declared per thousand Basic Sum Assured annually at the end of each financial year. Bonuses once declared, will form part of the guaranteed benefits of the plan and will be included on maturity.

Maturity Benefit:
The Sum Assured along with guaranteed additions and reversionary bonuses if any is payable in a lump sum on survival to the end of the policy term.

Death Benefits:
Sum Assured plus Guaranteed Additions at the rate of Rs. 50/- per thousand Sum Assured for the first five years of the policy.
And Death after first 5 years, S.A. + vested G.A. of Rs.50/- per 1000 S.A. per year for the first 5 years + accrued Reversionary Bonuses declared from 6th year onwards.

Accidental Benefit:
Accident benefit is available under Jeevan Shree-I up to a maximum of Rs.25 lakhs (inclusive of all other life insurance plans) An additional amount equal to the accident benefit sum assured is payable on death. In case of total and permanent disability arising due to an accident (within 180 days) this amount is paid over a period of 10 years in monthly installment.

Surrender Value:
Buying a life insurance policy is a long-term commitment.  However, surrender value is available on the plan on earlier termination of the contract. The policy may be surrendered after it has been in force for 3 years or more. The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium. In the case of a single premium policy, the guaranteed surrender value is 90% of the single premium paid excluding any extra premium

Jeevan Shree 1 Eligibility Conditions and Restrictions:

  • Minimum age at entry: 18 years completed
  • Maximum age at entry: 65 years
  • Maximum maturity age: 75 years
  • Minimum Term: 5 years
  • Maximum Term: 25 years
  • Minimum Sum Assured: Rs.5,00,000/-
  • Maximum Sum Assured: No Limit
  • Sum Assured should be in multiples of Rs.1,00,000/-
  • Accident Benefit per 1000/- S.A.: Allowed (With extra Premium)
  • Loan Available: Yes

Rebates:
Jeevan Shree -I is eligible for rebates depending on the mode of premium payment chosen and the extent of cover.

The yearly premium payment option entitles the policyholder to a 2% rebate on premiums; a sum assured of Rs 50 lakh entitles the insuree a Rs 0.50 per thousand sums assured rebate.

15-Days Cooling-Off Period:
If you are not satisfied with this policy, you have an option to return the policy within 15 days.

Revival:
The policyholder can revive his lapsed policy within 5 years from the date of the first unpaid premium by paying arrears of premium together with interest to be decided by the corporation from time to time subject to satisfactory evidence of health.


Update: Jeevan Shree 1 Plan No. 162 Has Been Discontinued.


Note:
The above is the product summary giving the key features of the plan. This is for illustrative purposes only. This does not represent a contract and for details please refer to your policy document.

17 thoughts on “Jeevan Shree 1”

  1. my policy no is 763481934
    till how much payment i have to make
    how much loan can i get it

  2. i was bought jeevan shree plan 112 policy on january-2002. i would like to know that after the completed 16yrs premium how much total amount must be paying me at the end of 25th year. please know me how the calculate the bonus.

  3. my nebhour policy no is (833784197)
    policy ppt = 112/25 but premium paid only 16 year so plz you tell me hoe was amount was insurance? and how to pay after 25 year? and wat benifit about death & accidentabout this policy

  4. RAFATHULLAH KHAN

    DEAR SIR, MY JEEVAN SHREE POLICY NO. IS 601447214. I TOOK IN THE YEAR MARCH 2012. THIS 5LAC RS POLICY. FOR 15 YEARS I WILL PAY THE PREMIUM, THE AMOUNT IS 33413RS. I AM REGULAR PAYER. WHAT BENEFITS I WILL GET NOW AND AFTER COMPLETING OF 15 YEARS. CAN I GET HOUSING LOAN ON THIS POLICY. IF YOU ADVISCE ME. I AM VERY MUCH GRATEFUL TO YOU. CAN I GET MAIL ID OF MY AGENT. HIS NAME IS MR. SRINIVAS. HABSIGUDA, BRANCH TARNAKA HYDERABAD,.

    THANKX AND REGARDS
    RAFATHULLAH KHAN

  5. I need clarification on lici policy table 151 term 25 yrs new jeevan sree policy which earns 70 guaranteed addition per 1k per year. This policy is not sold at present, but was sold in 2004. Is this a money back policy. If so for a 25 year 1 lak sum assured what are the payment years and amounts receivable before maturity date.
    pl reply – thanks, vvmurthy

  6. Hi sir i am ganesh form kumta i have jivan shre police i pej my police in sbi bank bank gays take a police suharndar alread 1 year is cplet how can go to retrun take police pls tel thanks pls help me

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