LIC introduces Bima Diamond plan
On the occasion of LIC’s Diamond Jubilee a special plan ‘LIC’s Bima Diamond’ has been introduced. LIC’s Bima Diamond is a closed ended plan available for sale <g data-gr-id="27">upto</g> 31st <g data-gr-id="26">August,</g> 2017 coinciding with the Diamond Jubilee year of the corporation.
It is a with-profits, limited premium payment money-back plan with policy terms of 16, 20 or 24 years, while the premium paying terms are 10, 12, and 15 respectively.
The plan offers risk cover of full sum assured during the policy term and half the sum assured beyond the policy term during the extended cover period (equal to half of the policy term).
A fixed percentage of sum assured is payable on survival at the end of specified durations during the policy term and balance sum assured payable on maturity.
Auto cover is available after payment of 3 years premiums optional accidental death and disability benefit rider and term assurance rider are also available. Loyalty Addition is payable on certain conditions. Liquidity under the plan is available through Loans.