LIC Bima Diamond Money Back plan 841 is a non-linked, with-profits, premium payment money back insurance plan with protection and savings.

1. BIMA DIAMOND
(PLAN 841)
CLOSE ENDED ,NON LINKED,WITH-PROFIT,
LIMITED PREMIUM PAYMENT,MONEY BACK PLAN WITH
EXTENDED RISK COVER
(Available up-to 31st
AUGUST 2017 ONLY)

2. ELIGIBILITY CONDITIONS
MINIMUM AGE AT ENTRY 14 Yrs (Completed)
MAXIMUM AGE AT ENTRY
50 YRS ( NBD) FOR TERM 16(10)
45 YRS (NBD) FOR TERM 20(12)
41 YRS (NBD) FOR TERM 24(15)
POLICY TERM 16/20/24 Years
PREMIUM PAYING TERM 10/12/15 Years
AGE AT MTY
66 Years NBD For Policy Term 16 Yrs &
65 Years NBD for Policy term
20 & 24 Yrs
MODE
Yearly/Half Yearly/Qly/Monthly
(ECS OR THROUGH SALARY DEDUCTION)
MIN. BASIC S.A.
Rs. 100000/-
( Thereafter in multiple of Rs.20000/=)

3. • DATE OF COMMENCEMENT OF RISK –
IMMEDIATELY AFTER PAYING FIRST PREMIUM.
• HIGH SUM ASSURED REBATE –
SUM ASSURED REBATE per Rs.1000 BSA
1,00,000 – 1,80,000 NIL
2,00,000 – 4,80,000 2.50
5,00,000 3.00
• MODE REBATE –
YLY - 2% OF TABULAR PREMIUM
HLY - 1% OF TABULAR PREMIUM

4. DEATH BENEFIT
• During First 5 years : Sum Assured is Payable
• After completion of 5 years : Sum Assured with Loyality
Addition, if any is payable
“ SUM ASSURED ON DEATH” IS DEFINED AS 10 TIMES OF THE
ANNUALISED PREMIUM OR ABSOLUTE AMOUNT
ASSURED TO BE PAID ON DEATH i.e BASIC SUM ASSURED.
• THE DEATH BENEFIT SHALL NOT BE LESS THAN 105% OF
TOTAL PREMIUMS PAID AS ON DATE OF DEATH.
• THE PREMIUM MENTIONED ABOVE EXCLUDE
TAXES,EXTRA PREMIUM AND RIDER PREMIUM, IF ANY.

5. DEATH BENEFITS (AUTO COVER)
IF ATLEAST 3 FULL YEARS’ PREMIUMS HAVE
BEEN PAID & ANY SUBSEQUENT PREMIUM BE
NOT DULY PAID, IN THE EVENT OF DEATH OF THE
L.A. WITHIN 6 MONTHS FROM SUCH FUP, DEATH
BENEFIT WILL BE PAID AFTER DEDUCTION OF
O/S PREMIUMS WITH INTEREST & PREMIUMS
TO COMPLETE THE POLICY YEAR.

6. DEATH BENEFITS (AUTO COVER)
IF ATLEAST 5 FULL YEARS’ PREMIUMS HAVE BEEN
PAID & ANY SUBSEQUENT PREMIUM BE NOT
DULY PAID, IN THE EVENT OF DEATH OF THE L.A.
WITHIN TWO YEARS, DEATH BENEFIT WILL BE
PAID AFTER DEDUCTION OF O/S PREMIUMS
WITH INTEREST & PREMIUMS TO COMPLETE THE
POLICY YEAR.

7. SPECIAL FEATURES
EXTENDED COVER PERIOD
FREE RISK COVER PERIOD
EQUAL TO HALF OF THE POLICY TERM AND
BEGINNING FROM THE DATE OF MATURITY
FREE RISK COVER AMOUNT
Equal to 50 % of Basic Sum Assured shall be
payable on Death during the Extended Cover
Period

8. SURVIVAL BENEFIT
ON THE LIFE ASSURED SURVIVING TO THE END OF EACH OF THE
SPECIFIED DURATION ,THE FOLLOWING S.B. IS PAYABLE
FOR POLICY TERM 16 YEARS
15% OF BSA AT THE END OF EACH OF
4th
,8th
,& 12th
policy Year
FOR POLICY TERM 20 YEARS
15% OF BSA AT THE END OF EACH OF
4th
,8th
, 12th
& 16th
policy year
FOR POLICY TERM 25 YEARS
12% OF BSA AT THE END OF EACH OF
4th
,8th
, 12th
16th
& 20th
policy year

9. MATURITY BENEFITS
• 55 % OF THE BASIC SUM ASSURED WITH LOYALITY
ADDITION FOR POLICY TERM 16 YEARS .
• 40% OF THE BASIC S.A. WITH LOYALITY ADDITION
FOR POLICY TERM 20 & 24 YEARS IS PAYABLE.

10. LIC’s Accidental Death and Disability Benefit Rider
• ACCIDENT BENEFIT IS PAYABLE, IF OPTED AS RIDER BY
PAYMENT OF EXTRA PREMIUM
• MINIMUM ENTRY AGE 18 YRS
• MAXIMUM COVER CEASING AGE : 60 YRS FOR POLICY TERM 16
YRS & 65 YRS FOR POLICY TERM 20 & 24 YRS
• RIDER CAN BE OPTED FOR ON ANY POLICY ANNIVERSARY
WITHIN THE PREMIUM PAYING TERM OF BASE PLAN
PROVIDED THE OUTSTANDING PREMIUM PAYING TERM IS
ATLEAST 5 YEARS.
• THE BENEFIT COVER IN THIS RIDER SHALL BE AVAILABLE
DURING THE POLICY TERM.
• THE MAX. AGGREGATE LIMIT OF ASSURANCE UNDER ALL
POLICIES INCLUDING IN-BUILT ACCIDENT BENEFIT TAKEN IN
ALL PLANS SHALL NOT EXCEED Rs. 100 LACS

11. TERM RIDER
• LICs NEW TERM ASSURANCE RIDER IS AVAILABLE AT THE
INCEPTION ON PAYMENT OF ADDITIONAL PREMIUM.
• MAX. TOTAL TERM ASSURANCE RIDER TAKEN TOGETHER IN
ALL PLANS SHALL NOT EXCEED 25 LAKHS..
• UNDER THIS PLAN MIN 1 LAKH TERM ASSURANCE RIDER
CAN BE TAKEN.
• MAX. TERM RIDER SHALL BE LESS THAN OR EQUAL TO THE
BASIC S.A.
• MIN.AGE AT ENTRY FOR RIDER SHALL BE 18 YEARS.
• MAX. AGE AT ENTRY SHALL BE 50 YEARS NBD FOR POLICY
TERM 16 YEARS ,45 YEARS NBD FOR 20 YEARS TERM & 41
NBD FOR 24 YEARS POLICY TERM.

12. SURRENDER VALUE
• SURRENDER DURING THE POLICY TERM
: HIGHER OF THE SSV AND GSV WILL BE
PAID.
• SURRENDER DURING THE EXTENDED
COVER PERIOD : ONLY SPECIAL
SURRENDER VALUE SHALL BE
PAYABLE.NO GUARANTEED
SURRENDER VALUE WILL BE PAID.

13. • LOAN IS AVAILABLE AFTER 3 YEAR.
• MAXIMUM LOAN THAT CAN BE GRANTED AS A
PERCENTAGE OF SURRENDER VALUE –
• FOR INFORCE POLICIES – UPTO 90 %
• FOR PAID UP POLICIES – UPTO 80 %
• BACK DATING IS ALLOWED
• ASSIGNMENT IS ALLOWED.

14. • GRACE PERIOD –
• MODE GRACE PERIOD
YLY, HLY, QLY. 1 MONTH OR MIN. 30 DAYS
MLY 15 DAYS.
• REVIVAL –
DURING THE TERM OF THE POLICY BUT NOT
BEYOND 2 YEARS FROM FUP.

15. • COMMISSION TO AGENTS:
• 1st
YEAR 2nd
& 3rd
YR SUBSEQUENT YR
20 % 7.50 % 5 % FOR 10 & 12 Yr. PPT
25% 7.50 % 5 % FOR 15 year PPT
• BONUS COMMISSION : 40 % OF 1st
YEAR
COMMISSION.

16. USPs OF THE PLAN
• AGENT, DO AND CUSTOMER FRIENDLY.
• PPT OF 10/12/15 MAKE IT ATTRACTIVE TO OUR PROSPECTS.
• PEOPLE LIKE MONEY BACK TYPE PLANS FOR ITS LIQUIDITY AND
REGULAR PAYMENTS.
• EXTENDED COVER BENEFIT MAKES IT A CLASS APART.
• CUSTOMERS WHO BOUGHT BIMA GOLD OR NEW BIMA GOLD
WILL BE EASILY CONVINCED.
• CLOSE ENDED PLANS HAVE ALWAYS PROVED TO BE HOT CAKES
IN MARKET.
• THIS PRODUCT HAS A SENTIMENTAL VALUE AS A SPECIAL
PRODUCT IN DIAMOND JUBILEE YEAR.
• NEW PRODUCTS ALWAYS GIVE US AN OPPORTUNITY TO TALK OF
INSURANCE WITH OUR POLICYHOLDERS OR OTHER PROSPECTS.