LIC Bima Diamond 9980940508
LIC Bima Diamond Plan is a non-linked limited premium paying Money Back plan which means premium paying term is less than policy term. The money back will be provided at end of every 4 years and maturity at the end of policy term. This policy has unique feature of extended risk cover after policy term. As this is a close ended plan and available for sale up to 31-08-2017
Key features of LIC Jeevan Lakshya
Money Back Every 4th year
Extended Risk cover even after Maturity
Premiums payment term lesser than policy term
Survival and Maturity Benefit
For 16 year Policy: 15% of Sum Assured on completion of 4th, 8th and 12th policy years and on completion of 16th year(maturity), 55% of sum assured + Loyalty Addition.
For 20 year Policy: 15% of Sum Assured on completion of 4th, 8th, 12th and 16th policy years and on completion of 20th year(maturity), 40% of sum assured + Loyalty Addition.
For 24 year Policy: 12% of Sum assured on completion of 4th, 8th, 12th, 16th and 20th year and on completion of 24th year(maturity), 40% of sum assured + Loyalty Addition.
Eligibility Conditions and Other Restriction :
a) Minimum Basic Sum Assured : Rs. 1,00,000
b) Maximum Basic Sum Assured : Rs. 5,00,000 (The Basic Sum Assured shall be in multiples of Rs. 20,000/-)
c) Policy Term/Premium Paying Term : (16/10), (20/12) & (24/15) years
d) Minimum Age at entry : 14 years (completed)
e) Maximum Age at entry : 50 years (nearest birthday) for policy term 16 years
45 years (nearest birthday) for policy term 20 years
41 years (nearest birthday) for policy term 24 years
f) Maximum Age at Maturity : 66 years (nearest birthday) for policy term 16 years 65 years (nearest birthday) for policy term 20 and 24 years
g) Extended Cover Period : (Policy Term/2) years after elapsation of policy term applicable for policies which are inforce on the date of maturity
Date of commencement of risk: Under this plan the risk will commence immediately from the date of acceptance of the risk including minor lives