The LIC Jeevan Shree 112 plan is a limited premium endowment assurance policy. It offers a flexible premium payment structure to the policyholders. The main objective of the plan is to offer financial protection to the family of policyholders in case of death during the tenure. The plan provides lump sum maturity benefits if the insured person survives the whole term of the policy.
The LIC Jeevan Shree 112 plan was introduced by Life Insurance Corporation of India on 16th January 1995. The plan is best for high-income people from urban areas, such as businessmen, industrialists, real estate investors, etc, who are seeking premium insurance coverage.
In this article, we will learn more about the LIC 112 plan details, the LIC plan 112 maturity calculator, and many more details.
Features of LIC Jeevan Shree Plan 112
The policy has various features offering exceptional benefits to the policyholder and their family.
- LIC Jeevan Shree 112 is a limited premium payment endowment assurance plan.
- The plan offers Guaranteed Additions of Rs. 75 per Rs. 1000 Sum Assured.
- The policyholder becomes eligible for Loyalty Additions after completing 5 years of the policy, as calculated using the LIC Jeevan Shree 112 maturity calculator.
- Policy does not offer Accidental Death Benefits and Extended Permanent Disability Benefits. However, the policyholder gets the permanent disability benefit of a maximum of Rs. 20,000.
Benefits of LIC Jeevan Shree Plan 112
Let’s take an example of a policyholder of 30 years of age, to understand the benefits of the LIC Jeevan Shree Plan 112:
| Age | 30 |
| Sum Assured | Rs. 5,00,000 |
| Term | 25 Years |
| Premium Paying Term | 16 Years |
The maturity benefits of the Jeevan Shree 112 plan include Basic Sum Assured, Guaranteed Additions at Rs. 75 per Rs. 1000 Sum Assured, and Loyalty Additions. Depending on the updated bonus structure, the loyalty addition for a 25-year term is Rs. 1100 per Rs. 1,000 sum assured. The guaranteed additions will be Rs. 37,500 per year. The structure of premiums and maturity benefits is explained in the table below:
| Premium | Maturity Benefit |
| Yearly Premium | Rs. 25272 |
| Sum Assured | Rs. 5,00,000 |
| Half-Yearly Premium | Rs. 12843 |
| Guaranteed Addition | Rs. 9,37,500 |
| Quarterly Premium | Rs. 6525 |
| Loyalty Addition | Rs. 5,50,000 |
| Monthly Premium | Rs. 2175 |
| Maturity Amount | Rs. 19,87,500 |
Eligibility Criteria for LIC Jeevan Shree Plan 112
To apply for the LIC Jeevan Shree 112 Plan, you need to fulfill certain eligibility criteria as mentioned below:
| Eligibility Factor | Description |
| Entry Age (Lower Limit) | 18 years |
| Entry Age (Upper Limit) | 60 years (65 years for Keyman insurance) |
| Age at Maturity | Up to 70 years (75 years for Keyman cases) |
| Minimum Premium Required | ₹2,500 |
| Basic Sum Assured | ₹5,00,000 onwards (₹1 lakh multiples) |
| Upper Limit of Sum Assured | No maximum limit (as per underwriting rules) |
| Available Payment Modes | Single, Yearly, Half-Yearly, Quarterly, Monthly, Payroll |
Premium Paying Term as Per Policy Tenure
The premium paying term of the LIC Jeevna Shree 112 plan depends on the policy duration. You can choose the best-suited premium payment period from the options offered by the plan.
| Policy 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 |
LIC Jeevan Shree Plan 112 Guaranteed Addition
LIC Jeevan Shree 112 Plan offers the guaranteed Additions at the rate of Rs. 50 per Rs. 1000 sum assured at the end of each year during the first 5 years. The policyholders get the guaranteed additions with the basic sum assured on maturity or death.
LIC Jeevan Shree (Plan 112) Loyalty Additions
As per the results from the LIC Jeevan Shree 112 maturity calculator, the plan is eligible for the loyalty additions as a one-time benefit during maturity or death, if the policy remains in force. The loyalty addition amount depends on the number of years completed by the policy on the date of maturity or death. If you surrender the policy, paid up or discontinued, the loyalty additions will not be provided. Here is an example of loyalty additions payable on maturity or death per Rs. 1000 Sum assured:
| Term of Policy -> | 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 |
What is the LIC Jeevan Shree 112 Maturity Calculator?
LIC Jeevan Shree Plan 112 Maturity calculator is an online tool for calculating the total amount that the policyholder will get at the end of plan maturity. You will get the estimated maturity value depending on various factors such as the sum assured and policy tenure. Premium paying term, guaranteed additions, and loyalty additions. The calculator offers clear details of the expected returns before investing in the plan. It makes financial planning easier. The maturity calculator helps the policyholder to compare the different premium options and choose the policy structure that suits them the best.
The example of maturity benefits calculation using the LIC Jeevan Shree 112 maturity amount calculator is mentioned below:
| Premium Payment Mode | Premium Amount (₹) | Maturity Benefit* (₹) |
| Yearly | 25,272 | 19,87,500 |
| Half-Yearly | 12,843 | 19,87,500 |
| Quarterly | 6,525 | 19,87,500 |
| Monthly | 2,175 | 19,87,500 |
| You may like to read: LIC Jeevan Shagun Plan 826
Conclusion
LIC Jeevan Shree 112 is a premium endowment plan. It offers long-term protection and great maturity benefits to the policyholder. This plan is best for high-income individuals for financial security and wealth creation. You can use the LIC Jeevan Shree Maturity Calculator or the LIC plan 112 maturity calculator to know the returns accurately and invest wisely in the plan.
LIC Jeevan Shree 112 – FAQs
What maturity benefits are offered by the LIC Jeevan Shree plan 112?
Ans. LIC Jeevan Shree plan 112 maturity benefits depend on the Sum assured, policy term, premiums, and bonuses. Generally, the maturity benefits include the sum assured along with Guaranteed Addition and bonuses. You can use the LIC Jeevan Shree Maturity Calculator for accurate details.
What is the loyalty addition offered by LIC Jeevan Shree 112?
Ans. The loyalty addition is offered at the rate of Rs. 1100 per Rs. 1000 sum assured for the 25-year policy term. So, if you have a 25-year policy term, your LA will be Rs. 37500.
