LIC’s Jeevan Shiromani Plan947

LIC’s Jeevan Shiromani Plan947

This is at ltd premium non-linked with profits , money back plan with built in critical illness benefits , guaranteed additions will accrue. Rs.50 per 1000 basic  SA first 5 years and 55 per 1000 of basic SA from 6th year onwards till and premium paying term loyalty additions are also payable from 6th year onwards if any.

Sum assured on death -125% of basic SA

Death Benefit

First 5years –SA on death +  Accrue Guaranteed  Additions (GA)

From   6th years onwards .SA on death accrued GA. Loyalty additions(LA) if any.

Survival and maturity Benefits

Policy term Survival benefits Maturity Benefits
14 years 30% of basic SA at end 30% of basic SA at end
18 years 45% of basic SA at end 16th & 18th


In Built Critical illness Benefits

On first diagnosis of any one of  specified 15 critical illness.

1.)10% of basic SA is paid immediately.

2.) Option to defer the payment of premiums(including rider premiums)for 2years without interest .Falling due with 2 years  from date of admission of claim.

3.) Facility  of taking second medical opinion whether claim is admission or not at no extra cost to policy holder . This facility is available only once during the policy term.

Features & Condition

Minimum age at entry – 15 years

Maximum age at entry -50 years

Policy term – 9,12,15, yrs

  • Term 9years , Maximum at maturity 59 years , Minimum assured Rs.35,000
  • Term 12 years , Maximum at maturity 62 years , Minimum assured Rs.50,000
  • Term15 years ,Maximum at maturity 65years , Minimum assured Rs.70,000
  • Maximum sum assured –No limit
  • Sum assured in multiples – Rs.5000 only
  • Available Riders – ADDB and term rider for full policy term.

Mode of payment single premium high sum assured rebate(as% of tabular premium ) term 9years. Up to 70,000  – Nil

Rs.75,000 to 1,45,000 – 6%

Rs.1,50,000 & above – 8%

Term 12 years

Up to 95,000 – Nil ,Rs.1,00,000 to 1,95,000 – 4%,Rs2,00,000 above 6%

Term 15 years

Up to Rs.1,45,000 – Nil,1,50,000 to 2,95,000 – 3%,3,00,000 above  – 5%

Policy loan – Only after one policy year

Surrender –first year 75% of SP

2nd year onwards – 90% of SP less SB paid

Back dating allowed without loan months benefits . Interest will be charged for Exact no . of days from DOC of payments.

Tax Benefits

On basic premium  -U/S 80c up to 10% of SA, Maturity –Taxable, Death Claim –U/S 10 (10D)


New Plan 947 – LIC Jeevan Shiromani in Tamil

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