LIC’s Bima Shree – Plan 848 – is an innovative Money back plan specially designed for ‘High End Customers’. This plan can also be called as ‘Mini Shiromani plan’ as it is designed on the basic frame work of LIC’s Jeevan Shiromani Plan. Unlike Shiromani, which is having a minimum Sum Assured of one Crore, Bima Shree is having a minimum Sum Assured of 10 lakh.
‘Premium and Benefit Calculator for LIC’s Bima Shree Plan 848’ can give you a complete idea on the premium and benefits of the plan. Supply the details as you wish and get complete details of the plan.
LIC’s Bima Shree (Plan 848) – Key features.
- Minimum Basic Sum Assured of the plan shall be Rs. 10,00,000 (Ten Lakh).
- Guaranteed Additions at the rate of Rs. 50 per thousand Sum Assured for the first five years and Rs. 55 per thousand Sum Assured for the remaining years of premium paying term, shall be accrued to the policy.
- The policy shall participate in the profit of the corporation in the form of loyalty additions. Loyalty Additions shall be available at the time of exit from the policy, either due to death claim or maturity and is available after premium payment and completion of 5 full years.
- Critical Illness Benefit coverage for fifteen specified critical illnesses available as optional rider.
- Policy term can be opted from 14, 16, 18 and 20 years.
- Premium paying term will be four years lesser than the term of the plan opted.
- Survival benefits available under the plan can also be deferred, as per the wish of the policy holder, which adds to the flexibility of the plan.
- Settlement option for 5, 10 or 15 years shall be available for maturity as well as death benefits under the plan
LIC’s Bima Shree (Plan 848) – Death benefits
In this plan risk will commence immediately from the date of issuance of the policy. The death benefit under the plan varies depending on the period completed.
- Death occur during the first 5 years of the plan – 125% of the Basic Sum Assured + Accrued guaranteed additions shall be paid.
- If the death occur after completion of 5 years – 125 % of Basic Sum Assured + Accrued guaranteed additions + Loyalty additions shall become payable.