LIC Jeevan Shree Plan 112

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.

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