Plan 947 Actuarion Engine 2026

LIC Jeevan Shiromani (Plan 947) Premium & Returns Calculator

Model LIC's premium HNI participating money-back plan. Calculate guaranteed additions, high survival benefits, and built-in critical illness benefit payout options.

Premium Plan: Exclusively designed for High Net-Worth Individuals

Guaranteed Additions: ₹50 per ₹1,000 SA for first 5 years, ₹55 thereafter

Inbuilt Critical Illness Cover: Covers 15 specified critical conditions

Periodic Survival Money-Back Payouts before maturity

Sovereign Tax Shield benefits u/s 80C and 10(10D)

LIC Jeevan Shiromani Inputs

LIC Jeevan Shiromani (Plan 947) specialized calculator. Adjust your sliders to recalculate active returns.

1. Basic Sum Assured (₹)₹1,00,00,000

2. Age of Proposer/Insured (Years)30 Years Old

Premium Payment Frequency

Plan 947

Estimated Maturity Returns

₹1,12,20,000

Estimated returns payout at policy maturity

Actuarial Projections

Sovereign-backed security of sum assured and returns u/s 10(10D).
Eligible for annual premium tax exemptions under Section 80C.
Loan and policy surrender values accumulate continuously.

$First Year Premium:₹36,575

Renewal Premium (Year 2+):₹35,788

Total Estimated Premiums Paid:₹4,30,243

Basic Sum Assured:₹1,00,00,000

Accumulated Endowment Bonuses:₹67,20,000

Total Survival Money-Back Payouts:₹60,00,000

Estimated Net Maturity Benefit:₹1,12,20,000

Returns Performance40.02x Return

Guide to LIC Jeevan Shiromani Plan (Plan 947)

LIC's Jeevan Shiromani (Plan 947) is a non-linked, participating, individual life assurance savings plan. It is specifically structured for high net-worth individuals with a minimum sum assured requirement of ₹1 Crore. Along with life cover and wealth accumulation through guaranteed additions and loyalty additions, the plan provides financial security via a built-in Critical Illness Benefit and loan facilities.

Plan Eligibility & Key Actuarial Limits

Policy parameter	Details and limits
Minimum Entry Age	18 Years (Completed)
Maximum Entry Age	45 Years (Term 14), 55 Years (Term 20)
Minimum Sum Assured	₹1,00,00,000
Maximum Sum Assured	No Limit (in multiples of ₹5 Lakhs)
Policy Term	14, 16, 18, or 20 Years
Premium Paying Term	Policy Term minus 4 Years

Tax Benefits & Payout Options

Premiums paid qualify for Section 80C tax relief up to ₹1.5 Lakhs annually. Maturity proceeds, survival benefits, and critical illness lump-sum payouts are 100% tax-free under Section 10(10D), subject to statutory conditions.

Frequently Asked Questions (FAQs)

What survival benefits are paid under Jeevan Shiromani?

For a 14-year term, 30% of Sum Assured is paid at the end of the 10th and 11th year. For a 16-year term, 35% is paid at the end of the 12th and 13th year. For an 18-year term, 40% is paid at the end of the 14th and 15th year. For a 20-year term, 45% is paid at the end of the 16th and 17th year.

What is the Critical Illness Benefit in Plan 947?

Upon diagnosis of any of the 15 specified critical illnesses, LIC pays a lump sum equal to 10% of the Basic Sum Assured and allows deferment of premium payments for the next two years.

Can I take a loan against Jeevan Shiromani?

Yes, policy loans are available after payment of at least 2 full years of premiums, capped at up to 90% of the surrender value.

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