BIMA DIAMOND - Money Back plan
LIC is celebrating Diamond Jubliee year (60th year) so the name of policy is kept as a Bima Diamond. BIMA DIAMOND is non-linked, traditional money back policy.
FEATURES OF THE PLAN: CONVENTIONAL MONEY BACK PLAN WITH EXTENDED COVER
*MINIMUM SUM ASSURED Rs. 1, 00,000(THEREAFTER IN MULTIPLES OF 20,000)
*MAXIMUM SUM ASSURED Rs. 5, 00,000.00
*POLCY TERM & P.P.T Rs.16 (10), 20(12), 24(15) YEARS
*MINIMUM AGE AT ENTRY 14 YEARS COMPLETED
*MAXIMUM AGE AT ENTRY 50 YEARS (NBD,)
*MAX MATURITY AGE 66 YEARS (nbd)
For 16 Years Term: 15% of Sum Assured ,4th, 8th & 12th year.
For 20 Years Term: 15% of Sum Assured, 4th,8th,12th & 16th year.
For 20 Years Term: 15% of Sum Assured, 4th,8th,12th & 16th & 20th year.
S.A. ON MATURITY + Loyalty Addition (if any)
Sum Assured on Maturity is – 55% of basic SA for 16yrs term and 40% for other terms
DURING FIRST 5 YEARS + S.A.ON DEATH
AFTER 5 YEARS+ S.S. ON DEATH
(Higher of 10 times of annualised prem OR basic SA+Loyalty Addition)
Note: Death Benefit shall not be less than 105% of all premiums paid
In case death during extended cover+ 50% of Basic sum Assured
Extended cover half of policy term -8, 10&12 for 16, 20 & 24 yrs terms
*MODE OF PAYMENT : Monthly ECS from Bank, Quartely, Half yearly and yearly
On all LIC plans,Tax exemptions are subject to Income Tax rules amended from time to time by Government of India under Income Tax Act.,