LIC Jeevan Shikhar Plan Review
LIC Jeevan Shikhar Plan is a new endowment plan released by LIC India. Life Insurance Corporation of India is going to launch a new Jeevan Shikhar Plan( 837) from 11th January 2016. Jeevan Shikhar is a single premium, non-linked, savings cum protection, with profit, Close ended Plan. The Unique Identification Number (UIN) of LIC Jeevan Shikhar plan is 512N305V01. New Jeevan Shikhar LIC Plan is a comprehensive Endowment plan that ensures a financially secured life and guarantees your peace of mind. Jeevan Shikhar plan provides financial aid for the family of the deceased policyholder any time before the maturity. In new Jeevan Shikhar Plan, risk Cover is 10 times of the tabular Single premium. New LIC Jeevan Shikhar Plan will be available for sale from 11th January 2016 to 31st March 2016, i.e., the maximum period of 120 days from the date of launch.
New LIC Jeevan Shikhar is a single premium plan; it provides a facility to Choose options for the amount of Maturity Sum Assured. The premium payable shall depend on the chosen Maturity Sum Assured, and entry age of life assured. For detailed information regarding the New LIC Endowment Plan -Jeevan Shikhar, Refer the following sections.
LIC New Plan – Jeevan Shikhar Policy Benefits
LIC Jeevan Shikhar plan is a non-linked plan that offers an attractive combination of protection and saving features. Jeevan Shikhar Plan provides the best policies with a vast range of benefits for you and your family. LIC offers various Endowment plans for individuals, Family, etc. Jeevan Shikhar Plan 837 Policy Features, Benefits are mentioned below. New LIC Jeevan Shikhar provides customized policy that can enclose almost all need that you might have.
New LIC Jeevan Shikhar Plan Benefits
Death Benefit
On Death during first five policy years
- Before the date of commencement of the Risk: In case proposer/ Life Assured dies before the beginning of the risk, single premium amount without any interest will be refunded to the nominee.
- After the Commencement of Risk: In case Insured dies after the Commencement of Risk, “Sum Assured on Death” equal to 10 times of the tabular single premium will be payable to the nominee.
On Death after completion of 5 policy years but before the stipulated date of Maturity
- Sum Assured on Death equal to 10 times of the tabular Single premium along with Loyalty Additions, if any, shall be paid.
Maturity Benefit
- On life assured survives throughout the policy term, then Sum Assured on Maturity along with Loyalty Additions, if any, shall be paid.
Loyalty Additions
Loyalty Additions offered by LIC are only payable, In the case of Life Assured death or surrender, policy run for at least five years of time or policyholder surviving to the maturity. The policy under this plan will be appropriate in surplus profit in the form of Loyalty Addition, which depends on LIC.
LIC Jeevan Shikhar Plan 837 Terms & Eligibility Conditions
After the Successful launching of LIC Jeevan Labh Plan 836 in 2016, LIC India is going to Launch a new endowment plan that is called LIC Jeevan Shikhar Plan on 11/01/2016. The buyers who are willing to buy Jeevan Shikhar endowment plan should know the eligibility criteria. These details are very useful to know the entry age, coverage term, Monthly Income and other details of Jeevan Shikhar Plan. The following table provides brief details regarding the LIC Jeevan Shikhar policy.
| Entry age |
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| Policy Term |
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| Sum Assured |
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| Mode of Premium payment |
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LIC New Jeevan Shikhar 837 Policy Rebates
High Maturity Sum Assured Rebate
High Maturity Sum Assured Rebate for LIC Jeevan Shikhar are tabulated below.
| Maturity Sum Assured (M.S.A) | Reduction in Tabular Premium (per Rs. 1000/- M.S.A) |
| Below Rs. 2,00,000 | NIL. |
| Rs. 2,00,000 to Rs. 4,80,000 | Rs. 15. |
| Rs. 5,00,000 to Rs. 9,80,000 | Rs. 20. |
| Rs. 10,00,000 and above | Rs. 25. |
CEIS Rebate: Corporation Employees Insurance Scheme Rebate
The completed policy under Corporation Employees Insurance Scheme is eligible for CEIS rebate of 2% of the Tabular Single Premium.
LIC Jeevan Shikhar Policy Premium Calculator
LIC Jeevan Shikhar Premium Calculator helps you to calculate the premium and maturity amount for new LIC Plan 837 – Jeevan Shikhar. Before buying the Jeevan Shikhar policy, you have to check the premium rates for your desired sum assured using this Jeevan Shikhar Premium Calculator. The required data for calculating the premium rates in new Jeevan Shikhar Plan 837 using New LIC Jeevan Shikhar premium calculator are,
- Name.
- E-Mail Id.
- Mobile Number.
- Age.
- Policy Term.
- Sum Assured.
LIC Jeevan Shikhar Maturity Calculator
LIC Jeevan Shikhar Plan 837 Maturity Calculator helps you to calculate the maturity amount. Maturity amount is the amount that is payable to the policyholder during the maturity time. Maturity value is calculated based on previous year Bonus Rates. Along with Bonus rates LIC Jeevan Shikhar Endowment Plan Premium and Maturity Calculator uses some other parameters like Sum Assured (SA), Final Additional Bonus (FAB), etc. These are not exact amounts you will receive. But you will receive approximate or nearby maturity amount in this LIC Jeevan Shikhar 837 Plan Maturity Amount Calculator. Following are the required details to calculate maturity.
- Name.
- E-Mail Id.
- Mobile Number.
- Age.
- Policy Term.
- Sum Assured.
LIC New Jeevan Shikhar Endowment Plan Buying Procedure
Required documents to buy for LIC Jeevan Shikhar Plan is mentioned below.
- Application form/Proposal form.
- Revised Proposal Form No. 300, 340 and 360 issued by U&R Department.
- Proposal Form along with the photo.
- Address proof.
- Age proof.
- Medical reports(if required).
With the aid of the following above documents, you may contact nearest LIC branch to Buy a new LIC Jeevan Shikhar Plan.
What is the Claim Procedure for New LIC Plan – Jeevan Shikhar?
While lodging the claim in case of death of the Life Assured following documents is needed for claim procedure of LIC Jeevan Shikhar Plan were given below.
- Original policy document.
- NEFT form.
- Discharge form.
- Cancel check or Bank Passbook xerox.
- Medical treatment before the death.
- Death certificate.
- Proof of accident/Disability.
Additional Information of LIC New Jeevan Shikhar 837
- Surrender Value: The policy can be surrendered at any time during the policy term subject to realization of the premium cheque.
- Loan: Loan facility is available under LIC Jeevan Shikhar plan, any time the policy term after 3 months from the date of issuance of the policy.
- Suicide Clause: If the policyholder commits suicide for any of the reasons within 12 months of the date of commencement of risk or from the time of revival, then 80% of the premium for what he had paid will be returned to his assignees or nominees.
- Taxes: The amount of Income Tax payable as per the existing rates shall be payable by the policyholder on premiums. For more refer, www.taxqueries.in
- Free Look Period: If Customer is not satisfied with the “Terms & Conditions” of the LIC Jeevan Labh Plan, he/she may return the policy to the Corporation stating the reasons for objections, within 15 days from the receipt date of the policy.