Jeevan Shree Plan 112 is introduced by the LIC for the high-paying income segment market. It is a limited payment Endowment Assurance plan where the policyholder gets the guaranteed addition of Rs. 75 per 1000 Sum assured and minimum sum assured of Rs. 5 lakhs. Here we will discuss the details of Jeena Shree Plan 112.
Jeevan Shree (Plan 112) Features
The key features of LIC Jeevan Shree Plan 112 are:
- It is a limited payment endowment assurance plan.
- Policyholders get guaranteed additions of Rs 75 per 1000 Sum assured.
- The policy becomes eligible for “Loyalty Additions” with maturity benefits after completing 5 years of premiums.
- Additional Accidental Death Coverage (DAB) and Extended Permanent Disability Benefit (EPDB) are unavailable. The policy offers permanent Disability Benefits.
- After 1 policy year, the plan acquires the special surrender value but the premiums must be paid for 1/10th of the premium paying term.
LIC Jeevan Shree (Plan 112) Eligibility and Restrictions
| Minimum | Maximum | |
| Entry Age | After 18 years of completion | 60 Years at nearer birthday |
| Sum Assured | 5 lakh and multiple of 1 Lakh afterwards | No limit |
| Policy Payment Term | ||
| Term | Premium Paying Term | |
| 5 | 1, 2, 3 | |
| 10 | 1, 2, 3, 4, 6 | |
| 15 | 1, 2, 3, 4, 6, 8, 10 | |
| 20 | 1, 2, 3, 4, 6, 8, 10, 12 | |
| 25 | 1, 2, 3, 4, 6, 8, 10, 12, 16 | |
Jeevan Shree (Plan 112) Guaranteed Addition
Endowment plans generally have profits and the profit is shared by bonuses declared and added to the account of policy yearly. Jeevan Shree plan 112 does not provide any bonus but it offers Guaranteed Additions. For example:
Let the sum assured by Rs 7,00,000
Guaranteed Additions = Sum assured x 75 / 1000
= 7,000,00 x 75 / 1000
52,500
LIC Jeevan Shree (Plan 112) Loyalty Additions
The policy offers Loyalty additions at the time of exit (in case of maturity or death). It is received as a one-time payment. Loyalty addition is provided as per completed years in policy. If you surrender the policy or discount or make pay up, you will not get a Loyalty addition.
The table depicts the Loyalty additions below:
| Policy term | 19 | 20 | 21 | 22 | 23 | 24 | 25 | |
| Term/Policy year on death or maturity | 19 | 450 | 200 | 190 | 130 | 100 | 90 | 90 |
| 20 | 550 | 210 | 195 | 130 | 105 | 100 | ||
| 21 | 650 | 220 | 190 | 130 | 110 | |||
| 22 | 800 | 250 | 220 | 140 | ||||
| 23 | 1000 | 270 | 240 | |||||
| 24 | 1050 | 300 | ||||||
| 25 | 1100 | |||||||
Jeevan Shree (Plan 112) Premium, Maturity Calculator
Jeevan Shree plans 112 maturity calculator allows the policyholders to know the benefits of the plan. You need to enter the details of the plan such as sum assured, term, premium term, and age.
Let’s understand the working of lic jeevan Shree 112 maturity calculator with the example:
| Age | 30 | Sum Assured | 5,00,000 |
| Term | 25 years | Premium Term | 16 years |
The lic jeevan shree policy maturity amount includes Sum assured + Guaranteed Additions + Loyalty Additions. According to the latest bonus rates, the lic loyalty addition rate for 25 25-year policy is Rs. 1100 per 1000 sum assured, and Guaranteed Additions will be 37500. The table explains it clearly:
| Premium | Maturity Benefits | ||
| Yearly Premium | 25272 | Sum Assured | 5,00,000 |
| Half-yearly Premium | 12843 | Guaranteed Addition | 9,37,500 |
| Quarterly Premium | 6525 | Loyalty Addition | 5,50,000 |
| Monthly Premium | 2175 | Maturity Amount | 19,87,500 |
| Also read: LIC Jeevan Lakshya Plan 833: Details, Features, and Benefits
Conclusion
LIC Jeevan Plan 112 offers benefits of life coverage and an endowment plan. People buy this plan as it supports their family and at maturity, they can withdraw an amount to meet their financial goals. The plan provides guaranteed additions and loyalty additions to the customers.
LIC Jeevan Shree 112 – FAQs
How much is the lic jeevan shree 112 maturity amount tax-free?
Ans. If maturity exceeds Rs. 1 lakhs, the plan deducts the tax on the maturity amount. The insurance company deducts a 5% tax on the income portion of the policyholder before disbursing the amount to the taxpayer.
Does Jeevan Saral Plan 112 offer a loan option?
Ans. Yes, you can take out a loan against the coverage of the plan if you have paid the premiums regularly for a specific period.
What is the maturity value of Jeevan Shree plan 112?
Ans. The policyholder gets Sum Assured + Guaranteed Additions + Loyalty additions at the time of maturity. The latest bonus guidelines of the plan offer Rs. 1100 per 1000 sum assured for 25 years policy term.
What are the benefits of the LIC Jeevan Shree 112 Plan?
Ans. The policyholders get various benefits such as guaranteed additions, participation bonuses, lump sum maturity amount, and financial protection of the nominee.
What is LIC Jeevan Shree Plan 112?
Ans. Jeevan Shree Plan 112 is offered by LIC as a whole life insurance plan providing financial security and savings. It provides guaranteed additions, and various bonuses to the policyholder.
