Bima Diamond LIC Plan Features, Benefits, Review, Chart info
LIC is one of the best life insurance company in the world and currently they are celebrating their 60 years of Diamond Jubilee celebration so for this reason they started the one of the new plan which are known as Bima Diamond LIC Money back plan under the table no. 841.
As per the official news This Bima Diamond LIC plan is available till 31 August 2017 in their statement.
In LIC Official sources also said It is a with-profit, limited premium payment, money-back plan with policy terms of 16, 20 or 24 years while the premium paying terms are 10, 12, and 15 years, respectively.
See Full info of Bima Diamond LIC Plan here.
Under the Bima Diamond LIC Plan, This policy offers risk of Policy holders of a full sum assured ammount on the policy time while half the sum assured after the polocy during the extended period of equal or half of the policy time.
Check out below the LIC Bima Diamond Money Back Plan Features, Benefits, Sum Assured and charts with Premium calculation.
Lic’s Bima Diamond (841) Plan
Lic’s Bima Diamond (841) Plan is limited premium payment,non-linked, with profits money back plan. Which Offer a combination of Protection and Saving Plan.
Minium entry age : 14 years Completed
Maximum entry age :
Term 16 Year-50 years (Nearest Birthday)
Term 20 Year-45 years (Nearest Birthday)
Term 24 Year-41 years (Nearest Birthday)
Max.Maturity age :
Term 16 year-66 Years
Term 20 & 24 year-65 Years
Policy Term :
Premium pay term :
Term 16 Year ppt 10 Years
Term 20 Year ppt 12 Years
Term 24 Year ppt 15 Years
min.sum Assured : 1,00,000
Max.Sum Assured : 5,00,000
Premium pay Mode : Yearly,Halfly,Quarterly,Monthly(ECS)
Extended Cover after Completion Of Policy term.
Extended Cover Period equal to half of the Policy term.
Lic’s Bima Diamond Policy Benifits :
On death during first five Policy Years : Sum-Assured on death.
On death during after five Policy Years : Sum-Assured on death + Loyalty addition if any.
Where Sum-Assured on death is Basic Sum-Assured, Or 10 times of Annualized Premium, Or 105% of all Premiums Paid as on death, Whichever is Higher.
ON SURVIVAL : On Survival Sum assured on Maturity + Loyalty addition if any.
SURRENDERED VALUE : The Policy can be Surrendered at any time during the Policy term Provided atleast Three full Years Premiums have been paid.
Lic’s Bima Diamond LOAN : Loan Facillity is Available after payment of premiums for atleast Three full years.
INCOME TAX BENEFIT :Premium paid under this plan is eligible for TAX rebate under section 80c. and Maturity under this plan is free under sec 10(10D).