LIC’s Jeevan Shree Plan 112 -All details with calculators

(Last Updated On: February 24, 2019)

Jeevan Shree (Plan No 112) was the first plan specially introduced by LIC of India to cater to the needs of the high-income segment of the market. Jeevan Shree is a limited payment Endowment Assurance plan with a guaranteed addition of Rs 75 per 1000 Sum Assured and a minimum Sum Assured of Rs. 5,00,000.

Jeevan Shree was introduced on 16/01/1995 and withdrawn on 01/02/2002. Hence it is no more available for sale. Here at InsuranceFunda, we get a lot of queries about this plan. This article will help you to understand all its details. Calculators provided in this article can help you to understand the maturity benefit, insurance coverage and other details of the plan.

Jeevan Shree (Plan 112) – Salient features

  • Limited payment endowment assurance plan.
  • Guaranteed Additions of Rs 75 per 1000 Sum Assured.
  • If at least 5 full years premiums have been paid, the policy will become eligible for ‘Loyalty Additions’ along with the maturity benefit.
  • Additional Accidental Death Coverage(DAB) and Extended Permanent Disability Benefit(EPDB) is not available but permanent disability benefit (of the first Rs.20000 on all policies held together) is available.
  • The policy will acquire special surrender value after completion of even a single policy year, provided the premiums have been paid for at least 1/10th of premium paying term.

Jeevan Shree (Plan 112) – Eligibility and restrictions

Jeevan Shree (112) Eligibility and restrictions
Minimum Maximum
Age at entry 18 Years Completed 60 Years Nearer Birthday
Sum Assured 5 Lakh and multiple of 1 lakh there after No Limit
Policy Term and Premium Paying 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

Generally, endowment plans are ‘with profit’ plans and profit is shared by bonuses declared and added to the policy account every year. Eventhough Jeevan Shree is an endowment plan it does not have bonuses. Instead Guaranteed additions @ 75 per 1000 Sum Assured is added to the policy every year.

Guaranteed additions of LIC Jeevan Shree 112

Jeevan Shree (Plan 112) Loyalty Additions

The policy shall be entitled to receive loyalty additions as declared by the corporation from time to time at the time of exit (by way of maturity or death) as a one-time payment. Loyalty addition will depend on completed in force years of the policy as on the date of maturity or date of death. No loyalty addition shall be payable in the event of policy being surrendered or discounted or made paid up.

Latest Loyalty additions rates of Jeevan shree plan 112 is given below.

Loyalty Addition payable on maturity or death per 1000 sum assured
Term of Policy-> 17 18 19 20 21 22 23 24 25
Term/
Policy
year
on
death
17 450 300 200 145 120 100 85 70 70
18 560 350 200 150 125 105 85 85
19 680 260 200 150 125 105 105
20 810 260 200 150 125 125
21 950 250 190 150 150
22 1090 300 250 200
23 1200 325 275
24 1250 350
25 1300

Jeevan Shree (Plan 112) Premium, Maturity and Benefits Calculator

Jeevan Shree (Plan 112) – Online calculator can help you to understand all the benefits of the plan easily. Enter your details such as sum assured, term, premium paying term and age to get all the details of the plan.

Jeevan Shree Plan 112 – Example of benefits

Let us consider an example of person who have taken a Jeevan Shree policy. Let the details of the person be as follows.

Age 30 Sum Assured 5,00,000
Term 25 Years Premium Paying Term 16 Years

Maturity benefit of the policy includes the Sum Assured + Guaranteed additions at the rate of 75 per 1000 Sum Assured + Loyalty Additions. As per the latest bonus rates declared by LIC of India Loyalty additions for the 25 Year term is Rs 1300 per 1000 Sum Assured. Guaranteed Additions per year shall be 37500. The Maturity benefit and the premium of the policy shall be as shown below.

LIC Jeevan Shree all details with calculators plan 112
Premium and Maturity benefit for the example considered

Other benefits of the plan like insurance coverage and total premium paid can be understood from the illustration given below.

Jeevan Shree Plan 112 illustration of benefits

Picture courtesy Freepik

Anish L J
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Anish L J

Anish L J is a 'Financial Planner' and member of Chartered Insurance Institute(CII), London and Insurance Institute of India. He is also a finance, insurance and software consultant. He thoroughly follows the developments in finance, insurance, and other related sectors.
Anish L J
Follow me

Anish L J

Anish L J is a 'Financial Planner' and member of Chartered Insurance Institute(CII), London and Insurance Institute of India. He is also a finance, insurance and software consultant. He thoroughly follows the developments in finance, insurance, and other related sectors.

6 thoughts on “LIC’s Jeevan Shree Plan 112 -All details with calculators

  • February 24, 2019 at 4:39 pm
    Permalink

    Thank You Anish for a very detailed explanation and providing the calculator. Can you please clarify if the Guaranteed additional bonus is for the premium paying term (16 years) or Policy Term (25 Years). Also the Loyalty addition, it is as of now 1300 per 1000 . How often will this change? is there a possibility of going down also? My policy matures in 2027, can this amount change by then? Thanks again, I had no clarity on the maturity amount, but your article is pretty clear to understand. Calculator is cherry on top of cake.

    Reply
    • February 25, 2019 at 3:41 pm
      Permalink

      Hi Hari,
      Happy to know that the article has helped you. Guaranteed addition is payable to the policy every year until the end of the term(25 Years). Loyalty addition can change every year slightly depending on the death claim experience of the corporation during that year(among Jeevan Shree policyholders). Actually, you will get only the loyalty addition declared in the year 2027.

      Reply
  • February 26, 2019 at 12:53 pm
    Permalink

    Hi Anish, Very nice and easy understandable calculation. Does Jeeven shree have Final Additional Bonus for 15+ yrs policy term?

    Reply
    • February 26, 2019 at 3:33 pm
      Permalink

      Jeevan Shree does not have Final Additional Bonus. Instead, it has Loyalty additions. Loyalty Addition rates are mentioned in the post.

      Reply
  • March 7, 2019 at 8:42 am
    Permalink

    Hi Anish,
    Can you share the maturity amount i can expect to get from Jeevan shree 112 plan, 5L life cover, Term 20 years, Premium paying term 12 years. Current status : fully paid up. No slippage and active policy. I used calculator and used formulas, am still confused on the exact final maturity amount that i will receive at end of 20 years. Can you help.
    Regards,
    Sudarsan

    Reply
    • March 7, 2019 at 4:20 pm
      Permalink

      16.55 lakhs is your return if the policy matures this year. (Guaranteed Addition of 7.5 lakhs + Sum Assured 5 lakh + Loyalty Addition) Loyalty addition rate can change slightly every year.

      Reply

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