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LIC Jeevan Shiromani Plan

LIC Jeevan Shiromani,money back plan designed specifically for HNIs

LIC Jeevan Shiromani Plan is a limited premium money back with profit participating plan especially designed for the high net worth individuals. It offers regular payouts, lump sum maturity benefit and interesting optional riders.

LIC Jeevan Shiromani Plan Features:

  • Minimum Sum Assured for LIC Jeevan Shiromani Policy is Rs.1 Crore.
  • 4 Policy terms of 14,16,18 and 20years.
  • Minimum entry age is 18 while maximum ranges between 45-55 depending on the policy term.

Benefits of LIC Jeevan Shiromani Policy:

  • Death Benefit shall be payable as Sum Assured on Death defined as higher of 125% of Basic Sum Assured, 10 times of annualized premium or Sum Assured on Maturity. It can never be less than 105% of total premiums paid till the date of death.
    Death within first 5years – Sum Assured + Guaranteed Additions

    Death between 6years to policy mature date – Sum Assured + Guaranteed Addition + Loyalty Additions

  • Guaranteed Additions: Rs.50 per Rs.1000 Sum Assured for first five years which increases to Rs.55 6th year onwards
  • Maturity Benefits paid as Sum Assured on Maturity along with guaranteed and loyalty additions if the policyholder survives through the policy
Policy TermSum Assured on Maturity
(% of Basic Sum Assured)

Survival Benefits paid at specified intervals if the insured survives through each of these policy anniversaries

Policy TermPaid on% of Basic Sum Assured

LIC Jeevan Shiromani Plan Critical Illness Benefits

LIC Jeevan Shormani plan is the only plan with built in Critical illness rider which makes this plan suitable for HNIs and professionals. The below given Illness are over under this plan. They are:

1. Cancer of specified severity
2. Open chest CABG
3. Myocardial infarction
4. Kidney failure requiring regular dialysis
5. Major organ/bone marrow transplant (as recipient)
6. Stroke resulting in permanent symptoms
7. Permanent paralysis of limbs
8. Multiple sclerosis with persisting symptoms
9. Aortic Surgery
10. Primary (idiopathic) pulmonary hypertension
11. Alzheimer’s disease/dementia
12. Blindness
13. Third-degree burns
14. Open heart replacement or repair of heart valves
15. Benign brain tumor

LIC Jeevan Shiromani Policy further details and benefits include:

  • Critical Illness Benefit Rider covers 15 critical illnesses paying 10% of Basic Sum Assured
  • Defer Survival benefits to be availed along with death or maturity claims. The survival amount earns interest too.
  • Avail maturity benefits in instalments over 5, 10, or 15 years


1. Can the premiums be waived off in case of critical illness in LIC Jeevan Shiromani plan?

the premium can only be deferred for 2 years and but are not waived off. Survival benefits if due at this period will be paid after deduction of premium amount.

2. Are Jeevan Shiromani and Bima Shree same?

Both are money back plans, however, there is a difference in the Sum Assured amount.
Minimum Sum Assured for Jeevan Shiromani = Rs.1 Crore
Minimum Sum Assured for LIC Bima Shree = Rs. 10 Lacs

3. Is this money back plan good for HNIs?

This plan starts from Rs. 1 Crore Life cover which makes best insurance cover for HNIs. Money back before maturity makes this plan a flexible

4. Money back paid during premium payment term are taxable?

No, all returns from LIC like survival benefits, maturity and claims are tax free.

Sum AssuredRs. 1 CroreNo Limit
Policy Term14,16,18 and 20 years14,16,18 and 20 years
Premium Paying TermPolicy term - 4 yearsPolicy term - 4 years
Entry Age of Policyholder (last birthday)18 Years (Completed)(I) 55 Years for 14 Year term
(II) 51 Years for 16 year term
(III) 48 Years for 18 year term
(IV) 45 years for 20 year term
Age here refers to nearest birthday
Maximum Age at Maturity18 Years (Completed)(I) 69 Years for 14 Year Term
(II) 67 Years for the 16-year term
(III) 66 Years for the 18-year term
(IV) 65 years for the 20-year term
Age here refers to nearest birthday
Premium Payment ModesYearly, Half Yearly, Quarterly and Monthly
Monthly mode is through NACH and Salary deductions only
Yearly, Half Yearly, Quarterly, and Monthly
The monthly mode is through NACH and Salary deductions only

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