Bima Shree Plan (T-848)

LIC Bima Shree Plan is a Limited Premium Payment Money Back Plan which is specially designed for customers who are looking for the high-risk cover plan as the minimum sum assured in this plan is ₹ 10Lakhs. This plan is launching on 16th March 2018 and having benefits like-Life Cover, Money Back, Guaranteed Additions & Loyalty Additions.

LIC Bima Shree Plan – USP’s

Let’s check some unique selling points of Bima Shree Plan

• Immediate risk cover of 125% of sum assured from day 1.
• Exclusive plan for the upper middle class.
• Money back at regular intervals.
• Guaranteed Additional Bonuses for full PPT.
• Loyalty Additions after 5 years.
• Premium Waiver Rider for minors.
• 4 year premium holiday.
• Settlement options for money back and maturity/claim amount is also available.
• LIC Bima Shree Plan is available with helpful add-on riders like Accidental Death and Disability Rider, Accident Benefit Rider, Term Assurance Rider & Critical Illness Rider.
• Double Tax Benefit of section 80C & section 10(10D) available.
• Paid up value after 2 years.
• Loan allowed after 2 years. 

Policy Benefits of LIC Bima Shree Plan:

• Death Benefits:

On Death During First 5 Years:  “Sum Assured on Death” along with Accrued Guaranteed Additions shall be payable.

On Death After Completion of 5 Policy Years But Before Maturity:  “Sum Assured on death” along with Accrued Guaranteed Additions and Loyalty Additions shall be payable.

Where “Sum Assured on Death” is defined as the higher of :

• 10 times of annualized premium or
• Absolute amount assured to be paid on death, i.e. 125% Basic Sum Assured

• Survival Benefits (Money Back):

On the Life Assured surviving the specified duration during the Policy Term, a Guaranteed Money Back shall be payable as below:

For Policy Term 14 Years: 30% of Basic Sum Assured on 10th & 12^th Policy Anniversary

For Policy Term 16 Years: 35 % of Basic Sum Assured on 12^th & 14^th Policy Anniversary

For Policy Term 18 Years: 40 % of Basic Sum Assured on 14^th & 16^th Policy Anniversary

For Policy Term 20 Years: 45% of Basic Sum Assured on 16^th & 18^th Policy Anniversary

• Maturity Benefits:

On the Life Assured surviving to the end of the Policy Term Sum Assured shall be payable as below:

For Policy Term 14 Years: 40% of Basic Sum Assured along with Accrued Guaranteed Additions & Loyalty Additions.

For Policy Term 16 Years: 30% of Basic Sum Assured along with Accrued Guaranteed Additions & Loyalty Additions.

For Policy Term 18 Years: 20% of Basic Sum Assured along with Accrued Guaranteed Additions & Loyalty Additions.

For Policy Term 20 Years: 10% of Basic Sum Assured along with Accrued Guaranteed Additions & Loyalty Additions.

Eligibility Criteria: