Skip to content
15August.in

15August.in

  • Home
  • Trending Content
    • Sports Schedule
      • Australia tour of India 2023 Schedule
      • ICC Womens T20 World Cup 2023
    • Narendra Modi Daily Routine
    • SIP Mutual Fund
    • Best Mutual Funds
    • Mumbai Ahmedabad Bullet Train
    • Delhi Mumbai Expressway
    • Vande Bharat Express Trains
  • Gold Rates
    • 18k Gold Rates
      • 18k Gold Price in Ahmedabad
      • 18k Gold Price in Coimbatore
      • 18k Gold Price in Delhi
      • 18k Gold Price in Hyderabad
      • 18k Gold Price in Jaipur
      • 18k Gold Price in Kerala
      • 18k Gold Price in Kochi
      • 18k Gold Price in Kolkata
      • 18k Gold Price in Mumbai
      • 18k Gold Price in Pondicherry
      • 18k Gold Price in Chennai
      • 18k Gold Price in Trichy
      • 18k Gold Price in Pune
      • 18k Gold Price in Visakhapatnam
      • 18k Gold Price in Bangalore
      • 18k Gold Price in Vijayawada
      • 18k Gold Price in Kolhapur
    • Today Gulf Gold Rate
      • Gulf Gold Rate in Ajman
      • Gulf Gold Rate in Al ain
      • Gulf Gold Rate in Al khobar
      • Gulf Gold Rate in Buraidah
      • Gulf Gold Rate in Dammam
      • Gulf Gold Rate in Jubail
      • Gulf Gold Rate in Kuwait
      • Gulf Gold Rate in Muscat
      • Gulf Gold Rate in Oman
      • Gulf Gold Rate in Qatar
      • Gulf Gold Rate in Ras al khaimah
    • 23k Gold Rates
      • 23k Gold Price in Amritsar
      • 23k Gold Price in Bareilly
      • 23k Gold Price in Bhopal
      • 23k Gold Price in Bhubaneswar
      • 23k Gold Price in Chhattisgarh
      • 23k Gold Price in Dehradun
      • 23k Gold Price in Delhi
      • 23k Gold Price in Gorakhpur
      • 23k Gold Price in Gujarat
      • 23k Gold Price in Haryana
      • 23k Gold Price in Jabalpur
      • 23k Gold Price in Jalandhar
      • 23k Gold Price in Jalgaon
      • 23k Gold Price in Karnal
      • 23k Gold Price in Lucknow
      • 23k Gold Price in Ludhiana
      • 23k Gold Price in Maharashtra
      • 23k Gold Price in Meerut
      • 23k Gold Price in Mumbai
      • 23k Gold Price in Nagpur
      • 23k Gold Price in Pune
      • 23k Gold Price in Punjab
      • 23k Gold Price in Raipur
      • 23k Gold Price in Satna
      • 23k Gold Price in Uttarakhand
    • Gold Rate in Ahmadabad
    • Gold Rate in Bhubaneswar
    • Gold Rate in Coimbatore
    • Gold Rate in Hyderabad
    • Gold Rate in Jaipur
    • Gold Rate in Kerala
    • Gold Rate in Kolkata
    • Gold Rate in Lucknow
    • Gold Rate in Mumbai
    • Gold Rate in Nashik
    • Gold Rate in Patna
    • Gold Rate in Surat
    • Gold Rate in Vadodara
    • Gold Rate in Madurai
    • Gold Rate in Chennai
    • Gold Rate in Mysore
    • Gold Rate in Mangalore
    • Gold Rate in Bangalore
    • Gold Rate in Chandigarh
    • Gold Rate in Pune
    • Gold Rate in Delhi
    • Gold Rate in Vijayawada
    • Gold Rate in Nagpur
    • Gold Rate in Vizag
  • Business India
    • 33 Small Business Ideas
    • Business Ideas In Delhi
    • Business Ideas In Bangalore
    • Business Ideas In Hyderabad
    • Business Ideas for Women
    • Business Starts Rs.10000
    • Unique Online Business
    • Passive Income Ideas
  • Platinum Price in India
    • Platinum Price in Ahmedabad
    • Platinum Price in Bhubaneswar
    • Platinum Price in Chandigarh
    • Platinum Price in Vizag
    • Platinum Price in Bangalore
    • Platinum Price in Chennai
    • Platinum Price in Delhi
    • Platinum Price in Hyderabad
    • Platinum Price in Kerala
    • Platinum Price in Kolkata
    • Platinum Price in Lucknow
    • Platinum Price in Mumbai
  • Petrol Price In India
    • Petrol Price in Ahmedabad
    • Petrol Price in Jaipur
    • Petrol Price in Bangalore
    • Petrol Price in Chennai
    • Petrol Price in New Delhi
    • Petrol Price in Hyderabad
    • Petrol Price in Kolkata
    • Petrol Price in Mumbai
    • Petrol Price in Patna
    • Petrol Price in Pune
  • Diamond Rate in India
    • Diamond Rate in Bangalore
    • Diamond Rate in Chennai
    • Diamond Rate in Delhi
    • Diamond Rate in Guwahati
    • Diamond Rate in Hyderabad
    • Diamond Rate in Kanpur
    • Diamond Rate in Karnataka
    • Diamond Rate in Kerala
    • Diamond Rate in Kolkata
    • Diamond Rate in Lucknow
    • Diamond Rate in Maharashtra
    • Diamond Rate in Mumbai
    • Diamond Rate in Patna
    • Diamond Rate in Pune
    • Diamond Rate in Tamil nadu
    • Diamond Rate in Uttar pradesh
  • Toggle search form

Review of LIC Jeevan Shikhar [Table No 837]

Posted on March 19, 2022March 21, 2022 By indiashine
LIC india has announced single premium endowment plan, LIC Jeevan Shikhar, which is for limited time only. If you want to buy LIC Jeevan Shikhar than you can buy it between 11th January to 31st March,2016.

Review of LIC Jeevan Shikhar [Table No 837]

LIC Jeevan Shikhar
As mentioned in above This is limited time offer, only to target late tax planners.Same like last year when LIC Jeevan Sangam was announced for limited time, this year LIC launched Jeevan Shikhar which also single premium endowment policy.
Below is features and benefits of LIC Jeevan Shikhar plan;

Features of LIC JEEVAN Shikhar plan

In this plan, you need to choose what is your Maturity sum assured (MSA) based on your maturity sum assured, you need to pay single premium. For example, if you choose Rs.1 lac as maturity sum assured than you need to pay Rs.44,124 of single premium. Check out more features;
  • Sum assured on death of proposer :- 10 Times of single premium
  • Minimum MSA :- Rs.100000/-
  • Maximum MSA :- No Limit (but it should be on multiple of Rs.20000/-).
  • Policy term :- 15 year
  • Minimum and maximum entry age :- 6 years and 45 years.

Benefits of LIC Jeevan Shikhar Plan;-

Death benefit :- If the proposer got unfortunate death during first five years of policy term, Before date of commencement of risk, single premium  will be paid to nominee. And after covering commencement risk, basic sum assured (10 times of single premium) will be paid.
If death happens in stipulated date of maturity, than proposer’s nominee will receive 10 times of single premium and loyalty additional bonus.
  • Maturity benefit: –  In Jeevan shikhar plan, on maturity you will get maturity sum assured (that you choose) and loyalty addition.
  • Loyalty Addition :- Loyalty addition will be paid on death of policy holder, at maturity or even at surrendering policy. (if you surrender after 5 years).
  • Surrender Value :-  You can surrender policy anytime soon but you will get 70 % of single premium if you surrender on first year, after first year you will get 90% single premium (minus extra premiums paid and taxes).
  • Loan facility available after 3 years of policy.

So How much interest rate will be paid in Jeevan Shikhar?

Quite easy to calculate. Though we don’t get figure of Loyalty addition since it will be decided on maturity but looking at past plans of LIC. We assume that LIC will pay 10% of Sum assured as Loyalty.
Than for example Mr.x buys Rs.1,00,000/- of LIC Jeevan Shikhar than on first year he has to pay Rs.44,124/- premium. Since it is single premium plan, no need to pay 2nd premium. So, now calculating return, you paid Rs.44,124 on first year and after 15 year (policy term) you will get sum assured of Rs.1,00,000/- plus loyalty addition (which we assuming 10% of sum assured, which is Rs.10,000/-). Means total you get Rs.1,10,000/- (approx) after 15 years for 44,124 of single premium which is just 6.28%. Too Low.

Should we buy this policy or not?

Only good thing about LIC Jeevan Shikhar is that you will get 10 times of your single premium, also single premium is good thing. Also, you can save tax + get loan after 3 year. But LIC should also paid bonus with maturity benefit. Also, proposer will not get loyalty addition, only premium amount will be paid in case of death before commencement of risk.
Also, return of this policy is low as 6-7% which is less than even fixed deposit return. So, if you are buying for expecting good return, avoid this policy and for risk coverage, there are many term plans available in market.
To get high return, you should invest in Best Mutual funds where you can get atlest 12-15% return. Even you can do Mutual fund SIP for better financial planning.

So, its BIG NO to Jeevan Shikhar. LIC should come up with better return plan than just to fetch tax payer’s money.

Last date to apply for LIC Jeevan Shikhar is 31st march, 2016.

Also Read:-

  • Benefits LIC Jeevan Lakshya
  • Benefits of LIC Jeevan Pragati Plan No. 838
  • LIC Jeevan Sangam – Features and Benefits
  • LIC Jeevan Tarun Policy Table 832 Review
  • LIC Children’s Money Back Plan 2015
Help India, Insurance Policy

Post navigation

Previous Post: 11 Tax Saving Options via Section 80C IT Act
Next Post: 9 Benefits of Pradhan Mantri Fasal Bima Yojana

Jan Suraksha Schemes

  • Gold Monetizaton Scheme
  • Buy Sovereign Gold Bond
  • Atal Pension Yojana
  • PM Suraksha Bima Yojana
  • PM Jeevan Jyoti Bima Yojana

Upcoming Sports Schedules

  • Australia tour of India 2023 Schedule
  • ICC Womens T20 World Cup 2023 Schedule
  • PSL 2023 Schedule
  • ODI World Cup 2023 Schedule
  • ISL Match Today 2022-23

Helpful Links

  • Duplicate Voter ID Card
  • Apply For Duplicate PAN Card
  • How To Apply for PF Account
  • How to Apply for Learning License Online
  • How to Apply for Permanent Driving License
  • How to Apply for Pan Card India
  • How to Apply for Passport
  • How to Join Swachch Bharat
  • Register Complain Indian Railways
  • File Complaints in Consumer Court
  • Independence Day Speech By PM
  • How to File RTI
  • Download Sample WILL Format

Useful Links 15august

  • Benefits of Sukanya Samriddhi
  • LPG GAS subsidy Scheme
  • Kisan Vikas Patra
  • Beti Bachao Beti Padhao
  • Soil Health Card
  • Statue of Unity
  • Sansad Adarsh Gram Yojana
  • Gold Price in USA Today

New LIC Plans

  • LIC Jeevan Pragati
  • LIC Jeevan Labh
  • LIC Jeevan Akshay
  • LIC Credit Cards
  • LIC Jeevan Tarun Policy Table 832
  • Varishtha Pension Bima Yojana
  • LIC Jeevan Sangam
  • LIC Children’s Money Back Plan
  • LIC Jeevan Lakshya
  • LIC Kanyadan Policy

Important Days

  • Rashtriya Ekta Diwas
  • Independence Day Celebration
  • Bal Swachhta Mission – 14th November
  • Pravasi Bhartiya Divas
  • Republic day 26th January
  • Good Governance Day – on 25th December

Wifi Router Settings

  • 192.168.10.1
  • 192.168.1.1
  • 192.168.0.1
  • 10.0.0.0.1

Best Investment Ideas

  • 10 Best SIP Mutual Funds
  • Top 10 Best Stocks to Buy
  • Best Mutual Funds to Invest
  • Best Small Cap Shares to Invest
  • Mutual Fund SIP Return Calculator Online

All Business India

  • Stand Up India-Small Business Loans
  • Small Business with Investment of Rs.10000
  • Business ideas for Women
  • 10 Passive Income Ideas (Extra Income)
  • Business Lessons from Mukesh Ambani
  • Take Loan From Mudra Bank
  • Online VAT Registration Process
  • Start Selling on Flipkart, Amazon
  • Websites to Earn Money Online
  • How Start Restaurant Business in India ?
  • Small Business Ideas
  • Top 10 Best Business Ideas In Bangalore
  • Top 10 Best Small Business Ideas In Hyderabad 
  • Top 10 Small Business Ideas In Delhi

Pradhan Mantri Yojana

  • 3 New Urban Development Schemes
  • PM Jan Suraksha Schemes
  • Atal Pension Yojana
  • Give Up LPG Subsidy
  • Pradhanmantri Jan-Dhan Yojana
  • Pradhan Mantri Suraksha Bima Yojana
  • Pradhan Mantri Jeevan Bima Yojana
  • Sansad Adarsh Gram Yojana
  • Beti Bachao Beti Padhao

Copyright © 2022 India Shine.

Powered by PressBook WordPress theme