Jeewan Sree I Policy from LIC

Jeewan Sree I Policy from LIC:Jeewan Sree is one of the Endowment policy targeted middle aged men or women where  policy providing Guaranteed Additions of Rs. 50/- per Thousand for each completed year on Assured amount up to first  five years of the policy.This policy primary aim to facilitating financial protection against death during the policy term maturity amount will be paid at the end of policy.   Premiums can be paid in  Single,quarterly,half-yearly,quarterly and also you can pay by salary deductions. As part of Lic insurance business On 6th year on wards Simple Reversionary Bunuses will be declared and it will added to Basic Assured amount annually and it will be treated as Guaranteed Benefit of the policy.Death Benefit:  The Sum Assured along with guaranteed additions and vested bonuses, if any, is payable in a lump sum on death of the life assured during the policy term.

In this policy Surrender Value and Guaranteed-surrender Value options are available after 3 years of plan from the beginning 30% of the basic premiums paid by excluding the first year premium  if it is single premium 90% of the premium will be paid by excluding any extra premium. Surrender value is available on Earlier termination of the Insurance Contract.

On Maturity  Assured amount,reversionary bonus  and guaranteed additions will be paid at the end of policy term.


Illustration.
Age at entry: 35 years
Policy term: 25 years
Premium Paying Term: 16 years
Sum Assured: Rs. 5,00,000/-
Yearly Premium: Rs. 25,186/-

End of year	Total premiums paid till end of year	Benefit payable on death / maturity at the end of year
		Guaranteed	Variable		Total
			Scenario 1	Scenario 2	Scenario 1	Scenario 2
1	25186	500000	0	0	500000	500000
2	50372	525000	0	0	525000	525000
3	75558	550000	0	0	550000	550000
4	100744	575000	0	0	575000	575000
5	125930	600000	0	0	600000	600000
6	151116	625000	9500	36500	634500	661500
7	176302	625000	19000	73000	644000	698000
8	201488	625000	28500	109500	653500	734500
9	226674	625000	38000	146000	663000	771000
10	251860	625000	47500	182500	672500	807500
12	377790	625000	95000	365000	720000	990000
15	402976	625000	104500	401500	729500	1026500
20	402976	625000	189500	729500	814500	1354500
25	402976	625000	253000	973000	878000	1598000

                             (Source:LIC officiall portal)


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