LIC BIMA SHREE TABLE NO 848

LIC BIMA SHREE  TABLE NO 848

              LIC Bima Shree Table no 848  is a non-linked, with-profits, limited premium payment money back life insurance plan with minimum Basic Sum Assured of Rs. 10 lakh especially designed for targeted segment of High Net-worth Individuals.

              This is an Endowment Assurance plan offering the choice of many convenient premium paying terms. It provides financial protection against death throughout the term of plan with the payment of maturity amount on survival to the end of the policy term.

Premiums:

             Premiums are payable yearly, half-yearly, quarterly or through Salary deductions, as opted by you, throughout the premium paying term or till earlier death. Alternatively premium may be paid in one lump sum (Single premium).

Guaranteed Additions:

               The policy provides for the Guaranteed Additions at the rate of Rs. 50/- per thousand Sum Assured for each completed year for first five years of the policy. The Guaranteed Additions are payable along with the Basic Sum Assured at the time of claim.

Bonuses:

              The policy participates in the profits of the Corporation’s life insurance business from the 6th year onwards. It will get a share of the profits in the form of bonuses. Simple Reversionary Bonuses will be declared per thousand Basic Sum Assured annually at the end of each financial year. Once declared, they will form part of the guaranteed benefits of the plan.

Death Benefit:

                 The Sum Assured alongwith guaranteed additions and vested bonuses, if any, is payable in a lump sum on death of the life assured during the policy term.

Maturity Benefit:

             The Sum Assured alongwith guaranteed additions and reversionary bonuses, if any  is payable in a lump sum on survival to the end of the policy term.

Supplementary/Extra Benefits:

         These are the optional benefits that can be added to your basic plan for extra protection/option.  An additional premium is required to be paid for these benefits.

Surrender Value:

                    Buying a life insurance contract is a long-term commitment. However, surrender value is available on the plan on earlier termination of the contract.

Guaranteed Surrender Value:

             The policy may be surrendered after it has been in force for 3 years or more. The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium. In case of a single premium policy the guaranteed surrender value is 90% of the single premium paid excluding any extra premium.

Loan :
                   Loan Facillity is available under this plan, after payment of premiums for at least 2 full years.

Minimum Entry Age :

8 Years completed

Maximum Entry Age :

55 Years (Nearer Birthday) for Term 14

51 Years (Nearer Birthday) for Term 16

48 Years (Nearer Birthday) for Term 18

45 Years (Nearer Birthday) for Term 20

Maximum Maturity Age :

69 Years (Nearer Birthday) for term 14

67 Years (Nearer Birthday) for term 16

66 Years (Nearer Birthday) for term 18

65 Years (Nearer Birthday) for term 20

Minimum Sum Assured:

Rs 10 lakh (Multiple of 1 lakhs thereafter)

Maximum Sum Assured :

No Limit

Guaranteed Addition :

Rs 50/- per 1000 SA for 1st 5 years

Rs 55/- per 1000 SA for remaining PPT

On Death :
Death during 5 yrs : SA on Death + GA
Death after 5 yrs : SA on Death + GA + LA

*SA on Death* : 125% of BSA or 10 times AP or 105% of Premiums Paid

Survival Benefits :
For 14 yrs policy : 30% of BSA in 10th & 12th year
For 16 yrs policy : 35% in 12th & 14th year
For 18 yrs policy : 40% in 14th & 16th year
For 20 yrs policy : 45% in 16th & 18th year

Maturity time : Remaining SA with GA + LA

Lic’s Premium Waiver Benefit Rider available.

For more details Call\WhatsApp : 9900773971

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