LIC’s Bima Shree Plan (T-948) is with profits Limited Premium Payment Money Back Plan . This plan is available with Guaranteed Additions specially designed for upper middle class citizens with a minimum Basic Sum Assured of ₹ 10 Lakhs. This Plan provides Financial Support to the Family both in case of Death during the Policy Term and in the form of money back to the policyholder at some important stages.
- Immediate Risk Cover to the Family from Day 1.
- Bima Shree Plan Provides Financial Support to the Family in the form of Guaranteed Tax Free Money Back, Tax Free Maturity with Guaranteed Additions along with Loyalty Additions.
- Bima Shree Plan is available with Guaranteed Additions of ₹ 50/- per thousand Sum Assured for the First Five Years & there after ₹ 55/- per thousand Guaranteed Additions from 6th year till the end of Premium Paying Term along with Loyalty additions.
- Accidental Death and Disability Rider, Accident Benefit Rider, Term Assurance Rider, Critical Illness Rider options are available with this plan making this more attractive.
- Along with these riders Premium Waiver Benefit Rider is also available for minors.
- Double Tax Benefit of Section 80C & Section 10(10D).
- Bima Shree plan provides a paid up value only after 2 years of term.
- Loan is also available under this plan after completion of 2 years.
- Settlement options :
- For Money Back till Maturity with Interest.
- For Maturity/Death Benefit to be Decided in Advance for 5/10/15 Years.
- 10 times of annualized premium or
- Absolute amount assured to be paid on death, i.e. 125% Basic Sum Assured
Survival Benefits (Money Back):
|Minimum Age to Apply||8 Years (Completed)|
|Maximum Age to Apply||55 Years (Nearer Birthday) for policy term 14 years|
|51 Years (Nearer Birthday) for policy term 16 years|
|48 Years (Nearer Birthday) for policy term 18 years|
|45 Years (Nearer Birthday) for policy term 20 years|
|Policy Term||14, 16, 18 & 20 Years|
|Premium Paying Term (PPT)||Policy Term – 4 Years|
|Maximum Age at Maturity||69 Years (Nearer Birthday) for policy term 14 years|
|67 Years (Nearer Birthday) for policy term 16 years|
|66 Years (Nearer Birthday) for policy term 18 years|
|65 Years (Nearer Birthday) for policy term 20 years|
|Premium Paying Mode||Yearly, Half Yearly, Quarterly & Monthly (NACH)|
|Minimum Basic Sum Assured||₹ 10Lakhs|
|Maximum Basic Sum Assured||No Limits (In Multiple of ₹ 1 Lakhs)|