Lic Jeevan Shree 1 with convenient premium paying terms, this plan is like an Endowment plan suitable for high earning people. W.e.f. 01-09-2003

General Conditions:

  • Min. age at entry:  18 year (lbd).
  • Max. age at entry:  65 years (nbd).
  • Min. S.A.: Rs. 5 lakhs.
  • Max. SA.: Any amount.
  • SA in multiples: Rs. 1 lakh.
  • Max. Maturity age: 75 years (nbd).
  • Modes Allowed: ALL
  • Accident benefit per 1000 SA: Allowed** (with extra prem.).
  • Min Term: 5 years.
  • Max Term: 25 years.

Requirements in writing:

  • Female lives category: I/II/III
  • Non-Medical General :  Not Allowed
  • Non-Medical Professional:  Allowed
  • Non-Medical Special:  Allowed
  • Age proof: Std./NSAP-1/2
  • Form Number:  300
  • Dating Back @ 8%: Allowed
  • Risk Coverage:  SA+GA+Bonus
  • Actual Sum assured: Basic SA
Jivan Shree

Policy Servicing:

  • Term Rider Option: Yes.
  • Critical Illness Rider: Yes.
  • Policy Loan @ 9%: Yes.
  • Revival at 9%pa (payable HLLY): Yes.
  • Surrender of Policy: Yes.
  • Housing Loan: Yes.
  • Assignment: Yes.
Term 5 10 15 20 25
PPT 1, 2 or 3 1, 2, 3,
4 or 6
1, 2, 3, 4, 6, 8 or 10 1, 2, 3, 4, 6, 8, 10 or 12 1, 2, 3, 4, 6, 8, 10, 12 or 16
  • SA Rebate per 1000 SA: 50 lacs & above.
  • 0.50 for regular premium.
  • 2.00 for single premium.

Mode Rebate:

Yly : 2%

Hly : 1%

Death benefits:

  1. During first 5 policy years, for each completed year, Vested GA @ Rs 50 per 1000 SA + Basic SA.
  2. On death after 5 years, Accrued reversionary Bonuses declared from 6th year onwards + Basic SA + Vested GA of Rs 50 per 1000 SA per year for the first 5 years.

Maturity benefits:

  • Reversionary Bonus (6th Year onwards) + Basic SA + Vested GA @ Rs 50 per 1000 SA (for 1st 5 years).

==>After completion of 3 policy years, the policy can be surrendered for cash.

Paid-up Value:

  1. 2 full years premiums should have been paid for more than 10 years PPT.
  2. Atleast 1 full year’s premium should have been paid for PPT 10 years & less.

Term Assurance Rider Option:

  • Along with Basic SA, an amount equal to Term Assurance SA will be payable on Death during the policy term & during the PPT, premiums are payable.
  • In addition to the premium under the basic plan, premium for this option will be payable. Std/Sub Std lives up to class III EMR & Female Lives Category I & II allowed. Handicapped Lives, pregnant females, & persons attracting occupational extra of more than Rs. 4 per 1000 SA are not allowed.

GTD Surrender Value for:

  1. Single Premium: 90% excluding all extra premiums.
  2. Excluding the premium for the first year, it will be equal to 30% of the total amount of premiums paid for other modes.

Special Surrender Value:

  • While calculating SSV, the vested GA plus Reversionary Bonus if any, will be taken into account. SSV is available after completion of 1 policy year provided premiums have been paid atleast for 1/10th of PPT sub. to a minimum of 1 full year’s premium.

Accident Benefit:

  • Available for full term of the policy or till the policy Anniversary immediately following LA attaining 70 years of age.
  • Maximum of Rs. 50 lakhs (under all policies taken together).
Duration of Policy from the
Date of commencement.
SSV as percentage of Single Premium excluding extra and rider premium,
if any
Less than 1 year 70%
One year to less than 2 years 75%
Two years to less than 3 years. 85%
After completion of 3 years. As per SSV factor applicable to Endowment Table