LIC's plan 841, BIMA DIAMOND is a non-linked, with-profit, limited premium payment money back life insurance plan.
Bima Diamond plan offers a combination of protection and savings. In case of unfortunate death of the policyholder, this plan provides financial support for the family not only during the policy term but also beyond the policy term during the Extended Cover Period (equal to half of the policy term and beginning from the date of maturity).
Periodic payments shall also be made on survival of the policyholder at specified durations during the policy term.
In addition, this plan also takes care of liquidity needs through its Auto Cover as well as loan facility.
Premium Payment Mode: Yearly, Half yearly, Quarterly, Monthly(ECS)
Term available :16 Year 20 Year 24 Year
Premium paying Term :
This plan is available for Minimum Age of : 14 Year Completed
Maximum Entry Age :
Minimum Sum Assured :Rs. 1,00,000/-
Maximum Sum Assured :Rs.5,00,000/-
Extended Cover after Completion of Policy term. Extended Cover Period equal to half of the policy term.
Policy Benefits :
On Survival : For Term 16:15% of Basic SA is payable after 4th, 8th and 12th year of
policy. Maturity Time 55% of Basic Sum Assured + Loyalty addition if any.
For Term 20: 15% of Basic SA is payable after 4th, 8th , 12th and 16th year of policy. Maturity Time 40% of Basic Sum Assured + Loyalty addition if any.
For Term 24: 12% of Basic SA is payable after 4th, 8th , 12th , 16th and 20th year of policy. Maturity Time 40% of Basic Sum Assured + Loyalty addition if any.
On Survival : For Term 16:15% of Basic SA is payable after 4th, 8th and 12th year of policy. Maturity Time 55% of Basic Sum Assured + Loyalty addition if any.
For Term 20: 15% of Basic SA is payable after 4th, 8th , 12th and 16th year of policy.
Maturity Time 40% of Basic Sum Assured + Loyalty addition if any.
For Term 24: 12% of Basic SA is payable after 4th, 8th , 12th , 16th and 20th year of policy. Maturity Time 40% of Basic Sum Assured + Loyalty addition if any.
On Death :
On death during first five policy years: Sum-Assured on death
On death after five policy years:Sum-Assured on death + Loyalty addition if any.where Sum-Assured on death is Basic Sum-Assured,OR 10 times of Annualized Premium, OR 105%of all Premiums paid as on death, WHICHEVER IS HIGHER.
Loan :
Loan Facility is available under this plan, after payment of premiums for at least 3 full years.
Income Tax Benefit :
Premium paid under this plan is eligible for TAX rebate under section 80C. Maturity under this plan is free under sec 10(10D).
Bima Diamond plan offers a combination of protection and savings. In case of unfortunate death of the policyholder, this plan provides financial support for the family not only during the policy term but also beyond the policy term during the Extended Cover Period (equal to half of the policy term and beginning from the date of maturity).
Periodic payments shall also be made on survival of the policyholder at specified durations during the policy term.
In addition, this plan also takes care of liquidity needs through its Auto Cover as well as loan facility.
Premium Payment Mode: Yearly, Half yearly, Quarterly, Monthly(ECS)
Term available :16 Year 20 Year 24 Year
Premium paying Term :
- For Term 16 Year Ppt 10 year
- For Term 20 Year Ppt 12 Year
- For Term 24 Year ppt 15 year
This plan is available for Minimum Age of : 14 Year Completed
Maximum Entry Age :
- For Term 16Year - 50 Year (Nearest Birthday)
- For Term 20 Year - 45 Year (Nearest Birthday)
- For Term 24 Year - 41 Year (Nearest Birthday)
- For Term 16Year - 66 Year
- For Term 20 & 24 Year - 65 Year
Minimum Sum Assured :Rs. 1,00,000/-
Maximum Sum Assured :Rs.5,00,000/-
Extended Cover after Completion of Policy term. Extended Cover Period equal to half of the policy term.
Policy Benefits :
On Survival : For Term 16:15% of Basic SA is payable after 4th, 8th and 12th year of
policy. Maturity Time 55% of Basic Sum Assured + Loyalty addition if any.
For Term 20: 15% of Basic SA is payable after 4th, 8th , 12th and 16th year of policy. Maturity Time 40% of Basic Sum Assured + Loyalty addition if any.
For Term 24: 12% of Basic SA is payable after 4th, 8th , 12th , 16th and 20th year of policy. Maturity Time 40% of Basic Sum Assured + Loyalty addition if any.
On Survival : For Term 16:15% of Basic SA is payable after 4th, 8th and 12th year of policy. Maturity Time 55% of Basic Sum Assured + Loyalty addition if any.
For Term 20: 15% of Basic SA is payable after 4th, 8th , 12th and 16th year of policy.
Maturity Time 40% of Basic Sum Assured + Loyalty addition if any.
For Term 24: 12% of Basic SA is payable after 4th, 8th , 12th , 16th and 20th year of policy. Maturity Time 40% of Basic Sum Assured + Loyalty addition if any.
On Death :
On death during first five policy years: Sum-Assured on death
On death after five policy years:Sum-Assured on death + Loyalty addition if any.where Sum-Assured on death is Basic Sum-Assured,OR 10 times of Annualized Premium, OR 105%of all Premiums paid as on death, WHICHEVER IS HIGHER.
Loan :
Loan Facility is available under this plan, after payment of premiums for at least 3 full years.
Income Tax Benefit :
Premium paid under this plan is eligible for TAX rebate under section 80C. Maturity under this plan is free under sec 10(10D).
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