- 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) |
