The universe is full of stars. But some shine brighter than the rest and consequently they stand out! LIC's Jeevan Shree policy is an exclusive policy catering to the needs and requirements of the elite. This list includes film stars, musicians, estate owners, industrialists, keyman in an enterprise or any dynamic individual successful in his/her area of work. LIC is one of the very few insurance companies to have a policy launched on similar lines. This policy is indeed very novel and innovative in its outlook and presentation.

• This is an endowment plan.
• The minimum age for entering this policy is 18 years while the maximum age is 65 years.
• The duration of this policy is for a minimum of 5 years and a maximum of 25 years.
• Thus sum assured for this policy is a minimum of Rs.5 lakhs after which it increases in multiples of Rs.1 lakh. There is no limit to the sum assured under this policy.
• The life insurance cover continues even after the premium paying term.
• This plan is participating in nature. From the sixth year onwards the policyholder shall be entitled to receive bonuses declared as per the rules of the corporation.
• On maturity the basic sum assured together with accrued guaranteed additions together with accrued bonuses will be paid to the policy holder. In case of death the entire sum assured along with bonuses if any will be paid provided the policy is in force for the full sum assured.
• A grace period of 30 days will be given for paying the premium.
• The policy will acquire a surrender value after at least one full years premium has been paid where the premium paying term is less than ten year. In cases where the premium paying term is greater than ten years the policy acquires surrender value after two full years premiums have been paid.
• This policy can be surrendered for cash after the completion of three policy years.
• Loans may be taken subject to the policy of the corporation.
• The riders available are the term assurance rider and accident death and disability rider.

Term Assurance is an optional rider available with this plan. Premiums for this option are payable during the Premium Paying Term and an amount equal to the Term Assurance Sum Assured will be payable on death during the Policy term. The premium rates for this option will be payable separately. The necessary conditions that need to be fulfilled for this rider are:

• Applicable age limit 18 years to 50 years
• Maximum maturity age - 60 years
• Minimum sum assured - Rs.1,00,000
• Maximum sum assured - an amount up to the basic sum assured subject to a maximum of Rs.25 lakhs overall option limit under all policies of the life assured.

Accident benefit is available up to a maximum of Rs.25 lakhs (inclusive of all other life insurance plan) subject to payment of additional premium. An additional amount equal to the accident benefit sum assured is payable on death. In case of total and permanent disability arising due to accident (within 180 days) this amount is paid over a period of 10 years in monthly instalment. This disability should be total and such that the person is unable to carry out any work to earn the living. The following disabilities are covered:

• Irrevocable loss of the entire sight of both eyes
• Amputation of both hands at or above the wrists
• Amputation of both feet at or above ankles
• Amputation of one hand at or above the wrist and one foot at or above the ankle