New Delhi: The majority of people want to spend a quality life. Quality life, however, is typically an expensive endeavor that calls for careful financial planning. Not only in posh cities but also in graceless cities, maintaining economic balance has become the go-to method. 


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The stock market provides many prospects for profit, but the Jeevan Shiromani Plan is a better choice if you want to invest in a place where your money is secure and your returns are high. You can still profit greatly from this plan even if you simply invest one rupee. This plan, known as the "Jeevan Shiromani Plan," offers both protection and savings. (Also Read: Invest Rs 1500 per month in Post Office Gram Suraksha Yojana, get up to Rs 35 lakhs: Check maturity benefits, return calculator)


The Jeevan Shiromani Plan Benefits offered by LIC is a non-linked plan. In this instance, you would be given a guarantee worth at least Rs 1 crore. The minimal return under the programme is actually Rs 1 crore. In the previous illustration, if you saved one rupee in the bank for 14 years, you could get a total return of up to one crore rupees. (Also Read: LIC Saral Pension Yojana: Pay single premium, get Rs 50,000 annually for a lifetime)


LIC's Jeevan Shiromani table number 847 was introduced on December 19, 2017. It is a benefit programme with a market-based component. This programme was created with high net worth individuals in mind. You are also protected by this plan in the event of a severe sickness. Three other optional riders are included.


The Jeevan Shiromani plan pays a death benefit to the policyholder's family at the end of the policy term to help them financially. If the policyholders live for a predetermined amount of time, the policy provides the option of payment. Additionally, a lump sum payment is made upon maturity.


Survival benefit


14 year policy -10th and 12th year 30-30 per cent of sum assured


 16 year policy -12th and 14th year 35-35 per cent of sum assured


18 year policy -14th and 16th year 40 of sum assured- 40 per cent


20 year policy -16th and 18th year 45-45 per cent of the sum assured.


How much loan you can take?


This policy's distinctive feature is that the customer can borrow money during the policy term using the policy's surrender value as collateral. However, LIC will only offer this loan under its terms and conditions. An interest rate that will be decided on a regular basis.


Guidelines


Minimum Sum Assured – Rs 1 Crore 


 Maximum Sum Assured: No Limit (Basic Sum Assured will be in multiples of 5 lakhs.)


Policy Term: 14, 16, 18 and 20 years


Premium to be paid: 4 Years


Age limit


Minimum age for entry: 18 years 


Maximum age for entry: 55 years for policies of 14 years


51 years for a 16-year policy.


48 years for an 18 year policy.


45 years for a 20 year policy.


(Disclaimer: This article is for information purpose. The calculator and premium chart is also mostly based on an assumptive figures to give an example of certain type. The article does not intend to give any financial advice of any sorts. Investors/subscribers must check with their portfolio managers before investing in any scheme/policies.)