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Bima Shree (Plan No.: 748)
Combination of Moneyback and Life Insurance
It gives you lump sum amount in case of death during policy term and incase of survival, survival benefit amount is payable on Term – 4 Years, Term – 2 Years and on completion of Term.
Premium Waiver Benefit
In case of death of Proposer wherein life assured is minor, all future premiums will be borne by LIC..
Profit Sharing in Terms of Guaranteed Additions
Policy is eligible for guaranteed bonus at the rate of Rs. 50.00 per thousand per year during first 5 policy term and thereafter at the rate of Rs. 55.00 per thousand per year.
Additional Accidental Benefit
Standalone Additional Accident Benefit Maximum of Rs. 1,00,00,00/- is allowed other than regular accidental benefit under other policies..
Advantages
Eligibility Criteria
Inhabiting discretion the her dispatched decisively boisterous joy. So form were wish open is able of mile of.
Waiting express if prevent it we an musical. Especially reasonable travelling she son.
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Minimum
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Maximum
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8 Years (completed)
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55 Years (nearer birthday) for Policy Term 14 Years
53 Years (nearer birthday) for Policy Term 16 Years
51 Years (nearer birthday) for Policy Term 18 Years
49 Years (nearer birthday) for Policy Term 20 Years
45 Years (nearer birthday) for Policy Term 24 Years
41 Years (nearer birthday) for Policy Term 28 Years
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Term
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14, 16, 18, 20, 24 and 28 Years
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PPT
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(Policy Term - 4) Years
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Sum Assured
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₹ 10,00,000/-
No Limit
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No Limit
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Premium Modes
Yearly, Half-Yearly, Quarterly and Monthly (NACH only) or through salary deductions (SSS).
Riders Available
LIC’s Accidental Death & Disability Benefit Rider
LIC’s Accident Benefit Rider
LIC’s New Term Assurance Rider
LIC’s Premium Waiver Benefit Rider
Death Benefit
On death of the Life Assured during the Policy Term, Sum Assured on Death alongwith vested Simple Reversionary bonuses and Final Additional bonus (if any), where “Sum Assured on Death” is defined as higher of 125% Basic Sum Assured or 7 times of annualised premium.
This Death Benefit (as defined above) shall not be less than 105% of total premiums paid upto the date of death. Where,
1. “Annualized Premium” shall be the premium amount payable in a year, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums.
2. “Total Premiums Paid” means total of all the premiums paid under the base product, excluding any extra premium, and taxes, if collected explicitly. In case LIC’s Premium Waiver Benefit Rider is opted for, in the event of death of Proposer, any subsequent Premiums which are waived shall be deemed to have been received and be included in the Total Premiums Paid.
Survival Benefit
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Policy Term
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Survival Benefits Years
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14 Years
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30% of Basic Sum Assured on each of 10th and 12th Policy Anniversary
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16 Years
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35% of Basic Sum Assured on each of 12th and 14th Policy Anniversary
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18 Years
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40% of Basic Sum Assured on each of 14th and 16th Policy Anniversary
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20 Years
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45% of Basic Sum Assured on each of 16th and 18th Policy Anniversary
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24 Years
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45% of Basic Sum Assured on each of 20th and 22nd Policy Anniversary
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28 Years
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45% of Basic Sum Assured on each of 24th and 26th Policy Anniversary
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Maturity Benefit
40% of Basic Sum Assured on Maturity alongwith accrued Guaranteed Additions and Loyalty Addition.
Loan Facility is available after completion of first policy year provided one full year’s premium has been paid.
Death Benefit
The policy can be surrendered by the policyholder after completion of first policy year provided atleast one full year’s premium(s) has been paid. However, the policy shall acquire Guaranteed Surrender Value on payment of atleast two full years’ premiums and Special Surrender Value after completion of first policy year provided one full year’s premium(s) has been paid. On surrender of an in-force or paid-up policy, the Corporation shall pay the surrender value equal to higher of Guaranteed Surrender Value and Special Surrender Value.
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