LIC Bima Ratna
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LIC Bima Ratna is a life insurance policy offered by the Life Insurance Corporation of India (LIC). It is a money-back policy that provides financial protection to policyholders and their families. The policy provides for a lump sum payment at the end of the policy term, and also offers partial payouts during the policy term in case of emergencies. The policy is designed to provide financial security and peace of mind to policyholders, and it can be customized to meet their specific needs and requirements. Additionally, the policy offers tax benefits under sections 80C and 10(10D) of the Income Tax Act, of 1961.
Choose this plan to Avail Tax Benefit on premium paid Tax Free Maturity Amount Guaranteed Addition Every Year
Money-Back Policy: LIC Bima Ratna provides a lump sum payment at the end of the policy term, as well as partial payouts during the policy term in case of emergencies.
Customizable: The policy can be customized to meet the specific needs and requirements of the policyholder.
Tax Benefits: The policy offers tax benefits under section 80C and 10(10D) of the Income Tax Act, 1961.
Financial Security: The policy provides financial protection to policyholders and their families, ensuring that their future is secure.
Flexible Premium Payment Options: Policyholders can choose from a range of premium payment options, including yearly, half-yearly, quarterly, and monthly, to suit their convenience.
Death Benefit: In the event of the policyholder’s death, their nominees will receive the sum assured, along with any bonuses that have been accumulated.
Guaranteed Benefits: The policy offers guaranteed benefits, including the sum assured and bonus, which are paid out to the policyholder or their nominees in the event of their death.
Loan Facility: Policyholders can avail of a loan against their policy after it has acquired a surrender value.
Policy Term | 15 Years | 20 Years | 25 Years |
Minimum Entry Age | 5 years (Completed) | 90 days (Completed) | 90 days (Completed) |
Maximum Entry Age | 55 years | 50 years | 45 years |
Minimum Maturity Age | 20 years (Completed) | 20 years (Completed) | 25 years (Completed) |
Maximum Maturity Age | 70 years | 70 years | 70 years |
Premium Paying Term | 11 years | 16 years | 21 years |
Minimum Basic Sum Assured | Rs.5,00,000 | ||
Maximum Basic Sum Assured | No limit |
1. Death Benefit
2. Survival Benefit
Policy Term | Policy Year |
15 Years | 13th and 14th policy year |
20 Years | 18th and 19th policy year |
25 Years | 23rd and 24th policy year |
3. Maturity Benefit
4. Guaranteed Additions
5. Tax Benefit
“Tax benefit is subject to changes in tax laws. Standard T&C apply.”
- Surrender Benefit
- Paid-up Value
- Rider Benefit
- LIC’s Accidental Death and Disability Benefit Rider
- LIC’s Accident Benefit Rider
- LIC’s New Term Assurance Rider
- LIC’s New Critical Illness Benefit Rider
- LIC’s Premium Waiver Benefit Rider
- Free Look Period
- Grace Period
- Policy Revival
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