LIC Bima Shree Plan 848 is a non-linked LIMITED premium payment money back plan with inbuilt critical illness for high net worth individuals.
Policy Term Options
Option – 1 : 14 years
Option – 2 : 16 years
Option – 3 : 18 years
Option – 4 : 20 years
Age Group – Policy Term
18 – 55 yrs - 14 yrs
18 – 51 yrs - 16 yrs
18 – 48 yrs - 18 yrs
18 – 45 yrs - 20 yrs
Term – 4 = Premium Paying Term
14 yrs – 10 yrs
16 yrs – 12 yrs
18 yrs – 14 yrs
20 yrs – 16 yrs
LIC Bima Shree Money Back Plan 848 Benefits
Guaranteed Addition payable every year @ Rs 50/- per 1000 SA for 1st 5 years and Rs 55/- till end of Premium Paying Term and Loyalty Addition if any.
Death benefit:
1st 5 years: 125% of Basic Sum assured + Accrued Guaranteed Addition
Thereafter 125% of Basic Sum Assured + Accrued Guaranteed Addition + Loyalty Addition
Additional features
- Option to defer payment of Survival benefit with payment of increased S B due at any time.
- Settlement option: To take maturity amount in 5, 10 or 15 years installment.
- Option to take death benefit in installment in 5, 10 or 15 years installment.
Option – 1 : 14 years
Option – 2 : 16 years
Option – 3 : 18 years
Option – 4 : 20 years
LIC Bima Shree Money Back Plan 848 Features & Details
Age Group – Policy Term
18 – 55 yrs - 14 yrs
18 – 51 yrs - 16 yrs
18 – 48 yrs - 18 yrs
18 – 45 yrs - 20 yrs
Term – 4 = Premium Paying Term
14 yrs – 10 yrs
16 yrs – 12 yrs
18 yrs – 14 yrs
20 yrs – 16 yrs
LIC Bima Shree Money Back Plan Benefits Chart
- Minimum Sum assured Rs 10 lakhs.
- Maximum Sum assured No Limit (Depends of Income)
- Policy term 14, 16, 18, 20 years
- Premium term Policy term less 4 years. (i.e., 10, 12, 14 and 16 years.)
- Mini Age at entry 8 completed. For rest age nearer Birthday.
- Maximum Age 55yrs (NBD) for 14, 51yr for 16, 48yr for 18 and 45 yr. for 20 years term
- Max Maturity age 69 yrs. (NBD) for 14, 67 yr. for 16, 66 yr. for 18 and 65 yr. for 20 years term
- Rider PWB, DAB& EPDB, DAB, Term and critical illness riders allowed.
- Mode Yearly, Half yearly, Qly, SSS AND monthly under NACH.
- Grace period 30 days.
- Paid value after payment of 2 yearly premium, PAID VALUE acquired and proportionate benefit like SB due, Maturity value or death payable based on such “Maturity Paid Value Sum assured” or “death paid up sum assured”
- Loan/Surrender Allowed.
LIC Bima Shree Money Back Plan 848 Survival Benefits
If a policyholder survives to each of the specified duration during the policy term, fixed percentage (%) of Basic Sum Assured (BSA) will be payable as given below.
For 14 Yrs Policy - 30% of Basic Sum Assured on each 10th and 12th policy year.
For 16 Yrs Policy - 35% of Basic Sum Assured on each 12th and 14th policy year.
For 18 Yrs Policy - 40% of Basic Sum Assured on each 14th and 16th policy year.
For 20 Yrs Policy - 45% of Basic Sum Assured on each 16th and 18th policy year.
LIC Bima Shree Money Back Plan 848 Death Benefits
Death Sum Assured + Guaranteed Additions + Loyalty AdditionsLIC Bima Shree Money Back Plan 848 Maturity Benefits
If policyholder survives up to the policy period, then he/she will receive the below maturity benefits.
For 14 Yrs Policy - 40% of Basic Sum Assured + Guaranteed Addition + Loyalty Addition.
For 16 Yrs Policy - 30% of Basic Sum Assured + Guaranteed Addition + Loyalty Addition.
For 18 Yrs Policy - 20% of Basic Sum Assured + Guaranteed Addition + Loyalty Addition.
For 20 Yrs Policy - 10% of Basic Sum Assured + Guaranteed Addition + Loyalty Addition.