NEW BIMA SHREE – LIC Plan No 848

बीमा श्री टेबल 848 लॉन्चिंग 16 मार्च

LIC is launching new insurance plan – NEW BIMA SHREE, Table No 848.

LIC’s Bima Shree plan is a non-linked, with-profits, limited premium payment money back life insurance plan with minimum Basic Sum Assured of Rs. 10 lakh especially designed for targeted segment of High Net-worth Individuals. Under this plan Guaranteed Additions shall accrue at the rate of Ra.50 per thousand Basic Sum Assured for the first five years and Rs.55/- per thousand Basic Sum Assured from 6th policy year till the end of premium paying term

In short this is a mini J.Shiromani plan where SA reduced from 1 cr to 10 Lacs.

Best plan covering all things, GA, Money back, short term.
Starting on 1⃣6⃣⛔3⃣⛔1⃣8⃣

Plan No 848 – Bima Shree with profit
This is a non-linked LIMITED payment money back plan with inbuilt critical illness for high net worth individuals.

Benefits: 

GA payable every year @ Rs 50/- per 1000 SA for 1st 5 years and Rs 55/- till end of PPT and LA if any.

Death benefit:

  • 1st 5 years: 125% of Basic Sum assured + Accrued Guaranteed Addition
  • Thereafter: 125% of Basic Sum Assured + Accrued Guaranteed Addition + Loyalty Addition

Additional features:

  • Option to defer payment of Survival benefit with payment of increased S B due at any time.
  • Settlement option: To take maturity amount in 5, 10 or 15 years installment.
  • Option to take death benefit in installment in 5, 10 or 15 years installment.

Eligibility & Features:

  • Mini Sum assured – Rs 10 lakhs.
  • Maximum Sum assured  – No Limit (Depends of Income)
  • Policy term – 14, 16, 18, 20 years
  • Premium term  – Policy term less 4 years. (i.e., 10, 12, 14 and 16 years.)
  • Minimum Age at entry – 8 completed. For rest age nearer Birthday.
  • Maximum age – 55yrs (NBD) for 14, 51yr for 16, 48yr for 18 and 45 yr. for 20 years term
  • Maximum Maturity – Age 69 yrs. (NBD) for 14, 67 yr. for 16, 66 yr. for 18 and 65 yr. for 20 years term
  • Rider –  PWB, DAB& EPDB, DAB, Term and critical illness riders allowed.
  • Mode – Yearly, Half yearly, Qly, SSS AND monthly under NACH.
  • Grace period – 30 days.
  • Paid value – After payment of 2 yearly premium, PAID VALUE acquired and proportionate
    benefit like SB due, Maturity value or death payable based on such
    “Maturity Paid Value Sum assured” or “death paid up sum assured”.
  • Loan/Surrender – Allowed.
  • Medical – Non-Medical and Medical as per age and sum proposed (Juvenile or Chart 1 or 2).
  • Female category – Categories A 1, A-2, A-3 & B 1 and B 2 allowed.
  • Back date – Allowed with lean month benefit.
  • Age proof – Only standard proof acceptable.
  • Cooling off – As per IRDAI rules allowed.
  • NRI & FNIO – NRI from Gr 5 allowed. FNIO & Mail order NOT allowed.

Survival Benefit

bima shree