Jeevan Shiromani

Critical Illness Benefit in LIC Jeevan Shiromani
This plan also provides a critical illness benefit. On the first diagnosis of any one of the 15 Critical Illnessesmentioned below, the following benefits will be provided:

Lump Sum Benefit – 10% of Basic Sum Assured will be payable subject to the following:

• LIC is satisfied with the reports with specific deferment period (in respect to specific diseases). The benefit will be payable only once during the policy period.
• A Survival period of 30 days is applicable from the date of diagnosis of critical illness. If death occurs during the 30 days period, then no critical illness benefit will be payable.
• A waiting period of 90 days will apply from the date of commencement of risk or date of revival of risk (whichever is later).  However, such waiting period is not applicable for accidental cases.

Option to defer the payment of premiums if there is a critical illness claim – If LIC accepts the critical illness claim, then you can defer the premiums for the next two years. LIC will not charge any interest on such delayed payment. However, if there is a survival benefit dues to be payable to policyholder during this 2 years period, then LIC will pay the survival benefit by DEDUCTING the premiums which are due. The deferred premiums will have to be paid after 2 years. All future premiums will have to be paid as per schedule.

Medical Second Opinion – Under this benefit, the policyholder has an option to take the second opinion from the LIC empaneled healthcare providers or through reputed hospitals in India based on the arrangement made by LIC. This facility is available only once during the policy period, for which you no need to pay the cost and then reimburse the expense. 

Some restrictions which apply to the In-built Critical Illness benefit in the Jeevan Shiromani Plan:

• In some cases, a deferment period may apply to establish the permanence of the illness.
• In paid-up policies, only a proportional benefit amount will be paid.
• Waiting Period – There is a waiting period of 90 days from the Date of Commencement of Risk for the In-built Critical Illness Benefit. In case the policyholder is diagnosed with a critical illness within 90 days, the benefits will not be available in the plan at all. This waiting period also applies in the case of policy revival – 90 days from the date of policy being revived. This waiting period does not apply to a condition caused due to an accident.
• Survival Period – If death of the policyholder occurs within 30 days of diagnosis of the listed critical illness, no benefit is payable.
• Benefits will not be paid in case of critical illnesses due to the following situations:
  • Intentionally self-inflicted injury or attempted suicide, irrespective of mental condition.
  • Alcohol or solvent abuse, or the taking of drugs except under the direction of a registered medical practitioner.
  • War, invasion, hostilities (whether war is declared or not), civil war, rebellion, revolution or taking part in a riot or civil commotion.
  • Taking part in any act of a criminal nature.
  • Any Pre-existing medical condition.
  • HIV or AIDS
  • Failure to seek medical or follow medical advice (i.e. failure to undergo tests or treatments that a prudent person would normally undergo as recommended by a Medical Practitioner.
  • Radioactive contamination due to nuclear accident.

List of Critical Illnesses covered in Jeevan Shiromani for which the above mentioned benefits are provided are as follows:

1. Cancer of specified severity
2. Open chest CABG
3. Myocardial infarction
4. Kidney failure requiring regular dialysis
5. Major organ/bone marrow transplant (as recipient)
6. Stroke resulting in permanent symptoms
7. Permanent paralysis of limbs
8. Multiple sclerosis with persisting symptoms
9. Aortic Surgery
10. Primary (idiopathic) pulmonary hypertension
11. Alzheimer’s disease/dementia
12. Blindness
13. Third-degree burns
14. Open heart replacement or repair of heart valves
15. Benign brain tumor