Following premiums are sample and calculated as per parameters given in first table. Please use above calculator to calculate premiums and benefits as per your AGE, TERM and SUM ASSURED (SA).
| LIC Jeevan Shiromani (847) Sample Calculation | |||||
|---|---|---|---|---|---|
| Sum Assured | 10000000 | Age | 25 | ||
| Premium Paying Term | 16 | Policy Term | 20 | ||
| ADB Rider | No | AD & DB Rider | Yes | ||
| First Year Premium | ||||
|---|---|---|---|---|
| Mode | Premium | GST ( @4.5 % ) | Total Premium | |
| Yearly | 697990 | 31410 | 729400 | |
| Half Yearly | 352498 | 15862 | 368360 | |
| Quarterly | 178000 | 8010 | 186010 | |
| Monthly | 59333 | 2670 | 62003 | |
| Second Year Onward Premium | ||||
|---|---|---|---|---|
| Mode | Premium | GST ( @2.25 % ) | Total Premium | |
| Yearly | 697990 | 15705 | 713695 | |
| Half Yearly | 352498 | 7931 | 360429 | |
| Quarterly | 178000 | 4005 | 182005 | |
| Monthly | 59333 | 1335 | 60668 | |
| Money Backs & Maturity Details | ||
|---|---|---|
| Total Premium Paid | 11434821 | |
| Minimum Risk Cover | 12500000 | |
| Maximum Risk Cover | 21050000 + Loyalty Addition(LA) | |
| Accidental Benefit (Additional) | 10000000 | |
| Money Backs (Survival Benefits) ( 45 % of Sum Assured) | 4500000 each at the end of 16th and 18th Policy Years | |
| Maturity (10 % of Sum Assured + Guaranteed Additions (GAs) + Loyalty Addition (LA) | 9550000 + Loyalty Addition (LA) | |
| Total | 18550000 + Loyalty Addition (LA) | |
The Rate of Guaranteed Addition (GAs) will be Rs. 50 per thousand of Sum Assured for first 5 Policy Years and Rs. 55 per thousand of Sum Assured from 6th policy years to year of last premium payment. Loyalty Addition (LA) will be on time amount to be paid in case of death or maturity applicable from 6th policy Year onwards.