Plan806

LIC’s BIMA Diamond

  • Basic Features: This is a non – linked with profits, limited premium money back type plan with extended risk cover equal to 50% of S.A. for half the policy term after maturity.
  • Survival Benefit:
    • 16 Years Policy Term & 10 Years Paying Term – 15 % of Sum Assured on 4th,8th & 12th Years.
    • 20 Years Policy Term & 12 Years Paying Term – 15 % of Sum Assured on 4th,8th,12th & 16th Years.
    • 24 Years Policy Term & 15 Years Paying Term – 12 % of Sum Assured on 4th,8th,12th,16th & 20th Years.
  • Maturity Benefit:
    • For 16 Years Policy Term: 55% of SA + Loyalty Additions
    • For 20/24 Years Policy Term: 40% of SA + Loyalty Additions if any
  • Death Benefit: During Policy Term: During first 5 years Sum assured on death is payable. After completion of 5 policy years sum assured on death + Loyalty additions, if any
  • Accident Death Benefit: Available subject to payment of additional premium.
  • Salient Features:
  • Plan Available for Ages: 14 years(lbd) to 50/45/41 Years (as per Paying Term)
  • Policy Term: 16/20/24 Years (Fixed)
  • Premium Paying Term: 10/12/15 Years (Fixed)
  • Minimum Sum Assured: 1 Lac(in multiples of 20000)
  • Maximum Sum Assured: 5 Lac
  • Mode Rebate: Yearly 2%,Half Yearly 1% (Both on tabular premium)
  • Premium Can Be Paid: Yearly/Half Yearly/Quarterly/Monthly(BEFTN)
  • HIGH SUM ASSURED Rebate: 2 Lac to 4.80 Lac – 2.5% of Basic Sum Assured- 5 Lac – 3.00% of Basic Sum Assured
  • Guaranteed Surrender Value, paid up value will be available after 3 full years premiums are paid.
  • Loan: Loan facility available after 3 full years premiums have been paid.
  • Special Surrender value of extended risk cover is allowed after maturity at any time.
  • Auto Cover:
    • Between 3 to 5 years of premium payment – 6 months from date of First Unpaid Premium.
    • After 5 years of premium payment – 1 Year from date of First Unpaid Premium. Auto Cover does not apply under extended revival period.