If you have good savings and want protection and returns, you can choose the LIC Bima Shree plan. This special savings plan gives you regular money while keeping your family safe.
LIC Bima Shree Maturity Calculator
Are you looking to explore more LIC plans and calculate their benefits? Check out our range of LIC Premium Calculators below to find the perfect plan for your needs:
- LIC Jeevan Umang Premium Calculator
- LIC Jeevan Utsav Premium Calculator
- LIC Jeevan Tarun Premium Calculator
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Along with this you will receive money at fixed times during the plan period, and get extra bonus money for staying with the plan. Your family will get full protection if something happens to you, and a large amount at the end of the plan.
You should know more about this great plan, so let’s look at how it can help you and your family.
Key Features of LIC Bima Shree
- Guaranteed Additions: Earn additions annually during the premium-paying term.
- Survival Benefits: Receive fixed percentages of the Basic Sum Assured during specified durations.
- Loyalty Additions: Enjoy loyalty benefits upon maturity or in case of death after the fifth policy year.
- Flexible Terms: Choose policy terms of 14, 16, 18, or 20 years.
- High Coverage: The minimum Basic Sum Assured is ₹10,00,000, with no upper limit.
- Loan Facility: Avail of loans against your policy’s surrender value to meet urgent financial needs.
- Death and Maturity Benefits: Provides lump-sum payouts, ensuring financial security for you or your family.
Eligibility Criteria
- Minimum Basic Sum Assured: ₹10,00,000.
- Maximum Basic Sum Assured: No limit (in multiples of ₹1,00,000).
- Policy Term Options: 14, 16, 18, and 20 years.
- Premium Payment Term (PPT): 4 years less than the policy term.
- Minimum Entry Age: 8 years (for a 20-year term).
- Maximum Entry Age: Varies based on policy term:
- 55 years for 14 years.
- 51 years for 16 years.
- 48 years for 18 years.
- 45 years for 20 years.
- Maximum Maturity Age: 69 years for a 14-year term, 65 years for a 20-year term.
Benefits of LIC Bima Shree
1. Death Benefit:
- During the first five policy years, the nominee receives:
- Sum Assured on Death: Higher of 125% of Basic Sum Assured or 7 times the annual premium.
- Accrued Guaranteed Additions.
- After five years, the Death Benefit includes:
- Sum Assured on Death.
- Accrued Guaranteed Additions.
- Loyalty Additions, if applicable.
2. Survival Benefit: On survival to specified durations during the policy term, the following percentages of Basic Sum Assured are paid:
- 14-year term: 30% on the 10th and 12th policy anniversaries.
- 16-year term: 35% on the 12th and 14th policy anniversaries.
- 18-year term: 40% on the 14th and 16th policy anniversaries.
- 20-year term: 45% on the 16th and 18th policy anniversaries.
3. Maturity Benefit: At the end of the policy term, the life assured receives:
- Sum Assured on Maturity.
- Accrued Guaranteed Additions.
- Loyalty Additions, if declared.
4. Guaranteed Additions:
- ₹50 per ₹1,000 Basic Sum Assured annually for the first five years.
- ₹55 per ₹1,000 Basic Sum Assured annually from the 6th year until the end of the PPT.
5. Loyalty Additions:
- Payable at maturity or death after the fifth policy year.
- Depends on LIC’s profits and policy performance.
Premium Payment Details
Premium Payment Options:
- Yearly, half-yearly, quarterly, or monthly (via NACH).
Sample Annual Premiums (for Basic Sum Assured of ₹10,00,000):
| Policy Term (Years) | Premium Paying Term (Years) | Age 20 (₹) | Age 30 (₹) | Age 40 (₹) |
|---|---|---|---|---|
| 14 | 10 | 1,08,045 | 1,08,584 | 1,10,887 |
| 16 | 12 | 90,748 | 91,336 | 93,933 |
| 18 | 14 | 78,106 | 78,841 | 81,683 |
| 20 | 16 | 69,384 | 70,266 | 73,402 |
Detailed Illustration Table
Here’s an example for a 30-year-old policyholder with a Basic Sum Assured of ₹10,00,000 and a 16-year policy term:
| Policy Year | Annual Premium (₹) | Guaranteed Additions (₹) | Survival Benefit (₹) | Death Benefit (₹) |
|---|---|---|---|---|
| 1 | 91,336 | 50,000 | 0 | 1,25,00,000 |
| 5 | 91,336 | 2,50,000 | 0 | 1,27,50,000 |
| 10 | 91,336 | 5,00,000 | 0 | 1,30,00,000 |
| 12 | 0 | 55,000 | 3,50,000 | 1,35,00,000 |
| 14 | 0 | 55,000 | 3,50,000 | 1,35,00,000 |
| 16 (Maturity) | 0 | 0 | 0 | 10,00,000 + Bonuses |
Example Calculation:
- Annual Premium: ₹91,336.
- Total Premium Paid (16 Years): ₹14,61,376.
- Guaranteed Additions by Maturity: ₹8,80,000.
- Survival Benefits Received: ₹7,00,000.
- Maturity Payout: ₹10,00,000 + Bonuses.
Optional Riders
You can add these extra benefits to make your plan even better:
- Accidental Death and Disability Benefit Rider: Provides extra financial support in case of accidental death or disability.
- Accident Benefit Rider: Offers an additional lump sum in case of accidental death.
- New Term Assurance Rider: Adds an extra life cover to your policy.
- Premium Waiver Benefit Rider: Waives future premiums if the proposer passes away.
- Critical Illness Rider: You will get a lot of money if you are diagnosed with any serious illnesses covered in this plan.
Why Choose LIC Bima Shree?
- This plan works best for people with good savings, giving big coverage and guaranteed returns.
- Regular money will come to you while the plan runs, plus a big amount at the end.
- The best part is choosing your own payment time and plan duration.
- Bonus money keeps coming for staying loyal, and benefits grow bigger every year.
- Getting an urgent loan is also possible when needed.
Conclusion
LIC Bima Shree plan offers both savings and protection for your family. The plan gives you regular money while keeping your future safe. Your wealth keeps growing with guaranteed returns.
Trust comes naturally with LIC because they have helped families for many years. The Bima Shree plan carries forward this same trust to you.
This plan covers everything, from regular income to full protection. When you start this plan today, a secure future awaits your family.
