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Product Information
Founded in 1956, Life Insurance Corporation of India (LIC) is the largest life insurance company in the country with a total income of Rs. 492626.60 crore and total assets worth Rs. 2572028.34 Cr It’s fully owned by the Government of India & is also the county’s largest investor.
Understand Life Insurance
Dhan Sanchay
Saral Jeevan Bima
Bachat Plus
New Endowment Plan
New Jeevan Anand
Aadhaar Stumb
Jeevan Labh
Aadhaar Shila
Jeevan Lakshya
Single Payment Endowment
Bima Jyoti
Jeevan Tarun
Jeevan Lakshya
New Children’s Money Back Plan
Jeevan Umang
New Jeevan Anand
Saral Pension
Jeevan Akshay- VII
Jeevan Shanti
Cancer Cover
Jeevan Arogya
Jeevan Amar
Jeevan Umang
Bima Shree
Jeevan Shiromani
New Money Back Plan 25 Years
New Money Back Plan
New Bima Bachat
Dhan Rekha
New Pension Plus
SIIP
Nivesh Plus
New Endowment Plus
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Plan No. 948
Bima Shree is a limited payment plan with money back at regular intervals
It offers the guaranteed bonus ranging from 5% to 5.5% of Sum Assured along with loyalty bonus as declared by LIC
It also offers the guaranteed risk coverage of 125% of Sum Assured from Day 1
The policy-holder gets regular guaranteed pay-outs at regular intervals
This plan has an option of choosing the Accidental Life cover, Disability Benefit & Critical illness cover.
In case of a minor, this plan also has the premium waiver benefit in case of death of the parent
This plan also has the option of taking the Maturity proceeds in instalments as the policy-holder can choose the no of year as 5, 10 or 15.
In a similar way, the policyholder also has the option of choosing the death benefit in instalments
LIC also offer the discount in the premium in case the mode of payment is Yearly.
The loan is also available to the policyholder after the completion of 2 years of the policy
Settlement option avilable on Maturity and Death in Installments of 5,10 or 15 Years
How Does This Policy Work
Sample illustration
Eligibility Criteria
Min.
Max.
Age
8 Years (Completed)
55 Years for Payment Term = 14 - 51 Years for Payment Term = 16
48 Years for Payment Term = 18 - 45 Years for payment term = 20
Policy Term
14, 16, 18, & 20 Years
Premium Payment Term
Policy Term 4 Years
Basic Sum Assured
Rs. 10 Lacs
No Limit
Maximum Maturity Age
69 Years of Term = 14 - 67 Years of Term = 16 66 Years of Term = 18 - 65 Years of Term = 20
Rider
LIC’s NEW CRITICAL ILLNESS BENEFIT RIDER(CIR)
Rider
LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER
Rider
LlC's ACCIDENT BENEFIT RIDER
Rider
LIC’s PREMIUM WAIVER BENEFIT RIDER (PWB) - If life assured is Minor
Rider
LIC's NEW TERM ASSURANCE RIDER (TR)
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