Q: Plan Benefit

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.

Q: Eligibility Criteria

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

Q: LIC Bima Ratna Plan Benefits

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.”

Q: Additional Policy Details

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

Question 1

Plan Benefit

Accepted Answer

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.

Question 2

Eligibility Criteria

Accepted Answer

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

Question 3

LIC Bima Ratna Plan Benefits

Accepted Answer

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.”

Question 4

Additional Policy Details

Accepted Answer

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

Choose this plan to Avail Tax Benefit on premium paid Tax Free Maturity Amount Guaranteed Addition Every Year

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