The LIC Jeevan Shree plan 112 is an endowment warranty plan that is taken into consideration to be distinctly accessible on the subject of its payment terms. It was introduced on 16/01/1995.
The key aim of this particular life coverage policy is for people to experience economic safety against Death throughout the plan, along with the regular charge of the adulthood amount on survival while the coverage tenure ends.
This policy is for the top strata of the ordinary city society who are high-income Individuals, film star experts, models, industrialists, consultants, business companions, and estate owners because they want protection that fits their profile. Read more to know about LIC Jeevan Shree plan 112, LIC Jeevan Shree 112 maturity amount, premium, etc
LIC Jeevan Shree (Plan 112): Features
Here are the features of LIC Jeevan Shree Plan 112.
- Limited price endowment warranty plan.
- Guaranteed Additions of Rs 75 per 1000 Sum Assured.
- After 5 years of completion, the policy becomes eligible for ‘Loyalty Additions’ along with the LIC Jeevan Shree maturity calculator.
- Additional Accidental Death Coverage (DAB) and Extended Permanent Disability Benefit (EPDB) are not available. Everlasting disability benefit (of the main Rs.20000 on all guidelines held collectively) is available.
LIC Jeevan Shree (Plan 112): Benefits
Let us have a look at the case of Jeevan Shree Policy. Let the details of the person be as follows.
| Age | 30 | Sum Assured | 5,00,000 |
| Term | 25 Years | Premium Paying Term | 16 Years |
The adulthood benefit of the coverage includes the Sum Assured + Guaranteed Additions at the cost of 75 per 1000 Sum Assured + Loyalty Additions. According to the new bonus charges, Loyalty additions for the 25 years are Rs 1100 per thousand Sum Assured. Guaranteed additions per year and month shall be 37500. The Maturity benefit and the top class of the coverage are as below:
| Premium and Maturity Benefit of Jeevan Shree – 112 | |||
| Premium | Maturity Benefit | ||
| Yearly Premium | 25272 | Sum Assured | 5,00,000 |
| Half Yearly Premium | 12843 | Guaranteed Addition | 9,37,500 |
| Quarterly Premium | 6525 | Loyalty Addition | 5,50,000 |
| Monthly Premium | 2175 | Maturity Amount | 19,87,500 |
LIC Jeevan Shree (Plan 112): Eligibility
| Eligibility Criteria | ||
| Age at Entry (Min) | 18 years | |
| Age at Entry (Max) | 60 years(65 years in case of keyman) | |
| Max age of Maturity | 70 years(75 years in case of keyman) | |
| Min Premium Payable | Rs. 2,500 | |
| Min Sum Assured | Rs. 500,000(increment in multiples of 1 lac) | |
| Max Sum Assured | No limit subject to medical and financial underwriting | |
| Mode Available | Single, Annual, Semi-Annual, Quarterly, Monthly, payroll savings program | |
| Policy Term wise PPT | Policy Term | Premium Paying Term |
| 5 | 1,2,3 | |
| 10 | 1,2,3,4,6 | |
| 15 | 1,2,3,4,6,8,10 | |
| 20 | 1,2,3,4,6,8,10,12 | |
| 25 | 1,2,3,4,6,8,10,12,16 | |
LIC Jeevan Shree (Plan 112) Guaranteed Addition
The coverage presents for the Guaranteed Additions at the rate of Rs. 50/- per 1000 Sum Assured for each completed year for the first 5 years of the policy. The Guaranteed Additions are payable together with the Basic Sum Assured at the time of declaration.
LIC Jeevan Shree (Plan 112) Loyalty Additions
As per LIC Jeevan Shree Maturity Calculator, The coverage is entitled to get hold of loyalty additions on the event on the time of leave as a one-time fee. Loyalty addition will depend on finished in-force years of the policy as at the date of maturity or date of demise. No loyalty addition is payable in the event of coverage for surrender discounted or paid up. The contemporary Loyalty addition rates of Jeevan Shree plan 112 are:
| Loyalty Addition payable on Maturity or Death per 1000 Sum Assured | ||||||||
| Term of Policy-> | 19 | 20 | 21 | 22 | 23 | 24 | 25 | |
| Term/ Policy Year
on Death or Maturity |
19 | 450 | 200 | 190 | 130 | 100 | 90 | 90 |
| 20 | 550 | 210 | 195 | 130 | 105 | 100 | ||
| 21 | 650 | 220 | 190 | 130 | 110 | |||
| 22 | 800 | 250 | 220 | 140 | ||||
| 23 | 1000 | 270 | 240 | |||||
| 24 | 1050 | 300 | ||||||
| 25 | 1100 | |||||||
LIC Jeevan Shree (Plan 112) Maturity Calculator
The policy members are in the income of the Corporation’s life coverage business from the 6th year onwards. As per, LIC Jeevan Shree plan 112 maturity calculator, It will get a proportion of the income in the form of bonuses. Once declared, they will become a part of the guaranteed benefits of the plan.
| Premium | Maturity Benefit | |
| Yearly Premium | 25272 | 5,00,000 |
| Half Yearly Premium | 12843 | 9,37,500 |
| Quarterly Premium | 6525 | 5,50,000 |
Read more: LIC New Bima Gold Plan 179 Maturity Calculator
Conclusion
LIC Jeevan Shree plan 112 is a plan that provides the benefits of a life coverage policy and endowment centers. Many people opt for this plan because it lets in for complete support to their own family. As soon as the plan matures, you can withdraw all the cash to fulfill your financial needs.
FAQs
What is the tax fee on the LIC maturity amount?
Ans. Since the adult fee is above Rs 1 lakh, the coverage organization is at risk of deducting tax on the adult proceeds. The insurance enterprise is vulnerable to deducting tax at 5% of the income issue of the payment, before liberating the costs to the taxpayer.
Can I get the loan on Jeevan Shree plan 112?
Ans. You can take a Loan against the coverage after regularly paying a premium for a particular period. This precise coverage plan is for people with very high net worth. Hence, the sum assured has no higher limit.
