• It requires an annual premium payment for 16 years, with the premium linked to the sum assured and the age of the applicant. LIC insists on a `simple' medical examination for the Jeevan Shree.
  
• The premium payments stop after 16 years, but the returns, a lumpsum, come at the end of the 25th year.
• Though the premium payment stops after the 16th year, the insurance cover continues till the 25th year.
• The risk cover - amount paid to nominees in case the policyholder fails to survive the policy's duration - increases with time. If, for instance, the risk cover is for Rs 5 lakh at the outset, the size of the cover increases with the passage of time to account for the returns on the investment made by LIC.
• Loan facility available.
• Option for single and limited premium terms.
• Ideal as gift.
• Transfer of policy from one employer to another.

• Maturity Benefit: Basics S.A. + vested G.A. @ Rs.50/- per 1000 S.A. (for 1st 5 years) + Reversionary Bonus (6th year onwards).
  
• Death Benefits:
  • During first 5 policy years: Basic S.A. + vested G.A. @ Rs.50/- per 1000 S.A. for each completed year.
  • On Death after first 5 years: Basic S.A. + vested G.A. of Rs.50/- per 1000 S.A. per year for the first 5 years + accrued Reversionary Bonuses declared from 6th year onwards.
• Term Assurance Rider Option: Premiums are payable during the PPT & an amount equal to Term Assurance S.A. will be payable on death during the policy term along with Basic S.A. Premium for this option will be payable in addition to the premium under the basic plan. Std./Sub. Std. lives (upto Class III EMR) & Female Lives Category I & II allowed. Pregnant Females, Handicapped Lives & Persons attracting Occupational Extra of more than Rs.4/- per 1000/- S.A. are not allowed.
• Paid-up Value:
  • For PPT 10 years & less, atleast 1 full year's premium should have been paid.
  • For more than 10 years PPT 2 full year's premiums should have been paid.
• Keyman Insurance: Policy is considered for Keyman employee & if the Keyman leaves the service & joins another employer subject to fulfillment of 3 conditions to transfer the policy from one employer to another:
  • The old employer requests for the transfer and is prepared to execute an assignment in favour of the New Employer
  • The Life Assured employee is the Keyman of the new Employer
  • The policy is in full force
• Accident Benefit: Will be available for the full term of the policy or till the policy Anniversary immediately following the Life Assured attaining 70 years of age. Maximum or Rs.25,00,000/-.

Premium Paying Term (PPT):

Restrictions

• Minium age at entry: 18 years completed
• Maximum age at entry: 65 years
• Maximum maturity age: 75 years
• Minimum Term: 5 years
• Maximum Term: 25 years
• Minium Sum Assured: Rs.5,00,000/-
• Maximum Sum Assured: No Limit
• Sum Assured should be in multiples of Rs.1,00,000/-
• Accident Benefit per 1000/- S.A.: Allowed (With extra Premium)

Premium Calculator