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LIC launched the most awesome plan ever! You will get bumper return on investment of 5,000, bonus also guaranteed, know scheme details

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LIC Bima Ratna plan: Keeping in view the interest of the customers, LIC has launched a new policy named Bima Ratna scheme. It is a non-linked, non-participated, personal, savings life insurance plan, in which the customers will get the facility of both protection and savings simultaneously.


If you also want to take this plan, then you can buy this product of LIC through Corporate Agents, Insurance Marketing Firms (IMF), Agents, CPSC-SPV and POSP-LI. Let us know the details of this special plan.

What is LIC’s Bima Ratna Plan?
LIC’s Bima Ratna plan is a policy that provides financial assistance to the family after the unfortunate death of the policyholder. It also offers guaranteed bonuses to meet many other requirements. Apart from this, loan is also available under this scheme.

The policy term is for 15 years, 20 years and 25 years. However, the policy term will be 15 and 20 years if the policy is met from POSP-LI/CPSC-SPV. Under this, for a policy term of 15 years, you have to pay the premium for 11 years, while for 20 years and 25 years the premium paying term is 16 years and 21 years. The minimum age of Bima Ratna policy is 90 days and maximum age is 55 years. The minimum age for policy maturity is 20 years.

Under this special plan, if an insured survives till the stipulated date of maturity, they will get ‘Sum Assured on Maturity’ along with accrued Guaranteed Addition. Under this policy, a guaranteed bonus of Rs 50 per 1,000 from 1st year to 5 years, LIC Rs 55 bonus from 6th to 10th policy year and Rs 60 per thousand per year thereafter till maturity will be given.

Survival Benefits: LIC will pay 25% of the Basic Sum Assured at the end of every 13th and 14th policy year if the term of the plan is 15 years. For a 20 year term plan, LIC will pay 25% of the Basic Sum Assured at the end of each of the 18th and 19th policy years. If the policy plan is for 25 years, LIC will pay the same 25% at the end of every 23rd and 24th policy year.

Under this, LIC offers death benefit payout on the death of the life insured during the policy term after the date of commencement of the plan. That is, death benefits are available in it. LIC Sum Assured on Death is paid as higher of 125% of the Basic Sum Assured or 7 times the annualized premium.

Under this special scheme, you can deposit monthly, quarterly, half-yearly and annual installments. The minimum monthly installment in this is ₹5,000, while it is ₹15,000 quarterly, ₹25,000 half-yearly, and ₹50,000 annually. In this, LIC offers a minimum Basic Sum Assured of Rs 5 lakh. There is no limit on the maximum Basic Sum Assured.

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