Mumbai, May 26 :    Mumbai, May 26:  Call it self-worth. Subhash Ghai has got himself an LIC policy worth Rs 18 crore - the highest life-cover for an individual in the country. Showman Ghai seems to have a penchant for insurance. His film Taal was insured for Rs 12 lakh, the first Indian film to be insured at all. He has also insured his latest offering Yaadein for a similar amount. But if there is anything bigger than his movies, it is he himself. The leading showman from Bollywood - known for his lavish birthday parties and even more lavish films like Khalnayak, Taal and Ram Lakhan - had initially wanted a policy of Rs 20 crore, said an official. But the Life Insurance Corporation of India, after weighing the pros and cons - health and wealth, not necessarily in that order - decided Ghai was worth 2 crore less. The 'Jeevan Shree' policy, under the 'Keyman Insurance Scheme', was handed over to Ghai by LIC chairman G.N. Bajpai here today. The scheme is for 10 years. An annual premium of Rs 3.92 crore will have to be paid for six years. Ghai's company, Mukta Arts, which is his nominee, is paying the premium for its 'key man'. Ghai may have the costliest policy, but other Bollywood names also sport multi-crore LIC policies - under the same 'Keyman' scheme, said H.K. Verma, the development officer who got the Ghai policy through, at the LIC headquarters. Superstar Shah Rukh Khan has one of Rs 7 lakh - the same amount as that of Ekta Kapoor. Ekta is the force behind Balaji Films, the soap factory that churns out Kyun Ki Saas Bhi Kabhi Bahu Thi. Leading light Aishwarya Rai is not far behind. She holds a policy of Rs 4 crore. Nagma, who also has films to her credit other than rumours about cricket, is worth 2.5 crore. All their premiums are being paid by companies with which they are associated. There are LIC rejects, too. 'Amitabh Bachchan had applied for a policy of Rs 50 crore. But the LIC only agreed to Rs 2 crore after considering various factors,' Verma said. Actress Karisma Kapoor, too, had applied for a Rs 5 crore policy. 'But LIC turned down the offer.' The Keyman policy, though it covers an individual, is in collaboration with a company with which the policy-holder is associated. 'The scheme ensures the health of the policy-holder's company. In case of a policy-holder's death, the money will go to his company, which is paying the premium for a 'key man' of the company. But if he lives on, at the end of the stipulated number of years, LIC will pay the company the total sum. The company may like to gift the 'key man' the money in return for his services,' Verma said. Assuming Ghai lives on for the 10 years of the policy, his company will get Rs 34 crore. The company will also get a tax benefit of 40 per cent on the approximately Rs 23 crore it deposits as premium. And you thought an LIC policy was mainly for the middle-class salaried persons anxious to save a few hundreds from the taxman?