LIC’s Bima Shree Plan (Table No – 848) is a Non-Linked, with profit, limited premium payment money back policy which has the provision of guaranteed addition.This plan is specially designed for High Net worth Investors (HNI) or High-End Customers.The tagline for this policy is “Live every moment tension free, buy LIC’s Bima Shree”.Under this plan Gauranteed additions shall accured at the rate of Rs.50 per thousand on basic sum assured for first five year and their after Rs.55 per thousand on basic sum assured from 6th policy year to end of the premium paying term. in addition the policy shall participate in the profits in form of loyalty additions also.

Key features of Bima Shree Plan:

 Non-Linked, Money Back, Limited Payment, Guaranteed Addition Plan

 Premium Waiver Benefit (PWB) Rider in case of Minor Policy Holder.

 Availability of Accidental Death & Disability Benefit (AD & DB), Term Assurance riders.

 Critical Illness Benefit coverage for fifteen specified critical illnesses available as an optional rider.

The flexibility of policy term. Policy term can be opted from 14, 16, 18 and 20 years.

Paid premiums are exempted from income tax under 80C.

Tax free Money Backs and Maturity u/s 10(10)D.

Bima Shree Plan Eligibility Criteria
Minimum Age At Entry8 Years (Completed)
Maximum Age At Entry55 Years For 14 Year Term
51 Years For 16 Year Term
48 Years For 18 Year Term
48 Years For 18 Year Term
Maximum Maturity Age70 Years(Nearest Birthday)
Policy Term(Premium Paying Term)14 Years(10 Years), 16(12), 18(14), 20(16)
Minimum Sum Assured10,00,000/-
Maximum Sum AssuredNo Limit (Shall Be In Multiples Of 1,00,000/-)
Policy ModeYearly, Half-Yearly, Quaterly, Monthly (NACH Only)
Rebate Of Mode Of PremiumYearly – 2% 
Half-Yearly – 1%
Quaterly & Monthly – Nil

Death Benefit:

On death during first five years: Death Benefit defined as sum of “Sum Assured on Death” and accrued. Guaranteed Addition shall be payable.

On death after completion of five policy years but before the date of maturity: Death Benefit defined as

sum of “Sum Assured on Death” and accrued Guaranteed Addition and Loyalty Addition, if any, shall be payable.

Where “Sum Assured on Death” is defined as the highest of

 10 times of annualised premium; or

 Sum Assured on Maturity as defined in 1. c) below; or

 Absolute amount assured to be paid on death, i.e. 125% of Basic Sum Assured.

This death benefit shall not be less than 105% of all the premiums paid as on date of death. Premiums referred above shall not include any taxes, extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any.

Survival Benefit:

On the life assured surviving to each of the specified durations during the policy term, provided all due premiums have been paid, a fixed percentage of Basic Sum Assured shall be payable. The fixed percentage for various policy terms is as below:

Policy Years1st Money Back2nd Money Back
For 14 Years Policy30% Of SA At End Of 10th Policy Year30% Of SA At End Of 12th Policy Year
For 16 Years Policy35% Of SA At End Of 12th Policy Year35% Of SA At End Of 12th Policy Year
For 18Years Policy40% Of SA At End Of 14th Policy Year40% Of SA At End Of 14th Policy Year
For 20 Years Policy45% Of SA At End Of 16th Policy Year45% Of SA At End Of 16th Policy Year

Maturity Benefits:

On the survival till the maturity term. Following maturity benefit is payable.

 For 14 Years Policy – 40% of Basic Sum Assured + Accrued guaranteed additions + Loyalty additions

 For 16 Years Policy – 30% of Basic Sum Assured + Accrued guaranteed additions + Loyalty additions

 For 18 Years Policy – 20% of Basic Sum Assured + Accrued guaranteed additions + Loyalty additions

For 20 Years Policy – 10% of Basic Sum Assured + Accrued guaranteed additions + Loyalty additions