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Are you looking for a reliable life insurance plan that offers both protection and savings? Look no further than LIC Bima Shree! As the Best LIC Agent in Kolkata, I’m excited to share everything you need to know about this fantastic policy.
Table of Contents
Key Takeaways
- LIC Bima Shree offers a perfect blend of protection and savings for high net-worth individuals.
- The policy provides flexible terms, guaranteed additions, and periodic survival benefits.
- It offers substantial death and maturity benefits, ensuring financial security for you and your family.
- Optional riders are available to enhance your coverage.
- As the Best LIC Agent in Kolkata, I’m here to guide you through every step of your insurance journey.
What is LIC Bima Shree?
LIC Bima Shree (UIN: 512N316V02) is a non-linked, participating, individual life assurance savings plan designed for high net-worth individuals. It provides a perfect blend of financial protection and wealth accumulation, making it an ideal choice for those who want to secure their family’s future while building a substantial savings corpus.
Key Features of LIC Bima Shree
Let’s dive into the standout features that make LIC Bima Shree a popular choice among savvy investors:
- Flexible Policy Terms: Choose from 14, 16, 18, or 20-year policy terms to suit your financial goals.
- Guaranteed Additions: Enjoy guaranteed additions to your policy, enhancing your overall returns.
- Survival Benefits: Receive periodic payouts during the policy term, providing liquidity when you need it most.
- Maturity Benefit: Get a lump sum payment at the end of the policy term, helping you meet your long-term financial objectives.
- Death Benefit: Ensure your family’s financial security with a substantial death benefit payout.
- Tax Benefits: Take advantage of tax deductions under Section 80C and 10(10D) of the Income Tax Act, 1961.
Who Should Consider LIC Bima Shree?
LIC Bima Shree is an excellent choice for:
- High net-worth individuals looking for a comprehensive financial solution
- Those seeking a balance between protection and savings
- Individuals with long-term financial goals
- Anyone wanting to secure their family’s future while building wealth
Diving Deeper into LIC Bima Shree Benefits
Death Benefit
In the unfortunate event of the policyholder’s demise, LIC Bima Shree provides:
- During the first five years: Sum Assured on Death + Accrued Guaranteed Additions
- After five years: Sum Assured on Death + Accrued Guaranteed Additions + Loyalty Addition (if any)
The Sum Assured on Death is the higher of:
- 125% of Basic Sum Assured
- 7 times the annualized premium
Survival Benefit
LIC Bima Shree offers periodic payouts during the policy term, providing financial support when you need it. The survival benefit varies based on the policy term:
| Policy Term | Survival Benefit |
|---|---|
| 14 years | 30% of Basic Sum Assured on 10th and 12th policy anniversary |
| 16 years | 35% of Basic Sum Assured on 12th and 14th policy anniversary |
| 18 years | 40% of Basic Sum Assured on 14th and 16th policy anniversary |
| 20 years | 45% of Basic Sum Assured on 16th and 18th policy anniversary |
Maturity Benefit
At the end of the policy term, you’ll receive:
- Sum Assured on Maturity
- Accrued Guaranteed Additions
- Loyalty Addition (if any)
The Sum Assured on Maturity varies based on the policy term:
| Policy Term | Sum Assured on Maturity |
|---|---|
| 14 years | 40% of Basic Sum Assured |
| 16 years | 30% of Basic Sum Assured |
| 18 years | 20% of Basic Sum Assured |
| 20 years | 10% of Basic Sum Assured |
Eligibility Criteria
To be eligible for LIC Bima Shree, you must meet the following criteria:
- Minimum Age at Entry: 8 years (completed)
- Maximum Age at Entry:
- 55 years for 14-year term
- 51 years for 16-year term
- 48 years for 18-year term
- 45 years for 20-year term
- Minimum Basic Sum Assured: ₹10,00,000
- Maximum Basic Sum Assured: No limit (in multiples of ₹1,00,000)
Additional Riders for Enhanced Protection
LIC Bima Shree offers optional riders to boost your coverage:
- LIC’s Accidental Death and Disability Benefit Rider: Provides additional protection in case of accidental death or disability.
- LIC’s Accident Benefit Rider: Offers an extra payout in case of accidental death.
- LIC’s New Term Assurance Rider: Provides additional life coverage during the policy term.
- LIC’s New Critical Illness Benefit Rider: Offers financial support if diagnosed with any of the 15 specified critical illnesses.
- LIC’s Premium Waiver Benefit Rider: Waives future premiums in case of the proposer’s death (applicable for policies where the Life Assured is a minor).
Why Choose Me as Your LIC Agent in Kolkata?
As the Best LIC Agent in Kolkata, I offer:
- Personalized Service: I tailor my recommendations to your unique financial needs and goals.
- Expert Guidance: With years of experience, I can help you navigate the complexities of life insurance.
- Prompt Support: I’m always just a phone call away at 7980031260 for any queries or assistance.
- Hassle-free Process: I handle all the paperwork, making your insurance journey smooth and effortless.
Remember, LIC Bima Shree is more than just an insurance policy – it’s a comprehensive financial solution designed to secure your future. As your trusted LIC Agent in Kolkata, I’m here to help you make the most of this excellent plan. Don’t hesitate to reach out at 7980031260 for personalized advice and assistance. Let’s secure your financial future together!
Frequently Asked Questions
Can I surrender my LIC Bima Shree policy?
Yes, you can surrender your policy after paying premiums for at least two years. The surrender value will be higher of the Guaranteed Surrender Value or Special Surrender Value.
Is there a loan facility available with LIC Bima Shree?
Yes, you can avail a loan against your policy after paying premiums for at least two years, subject to LIC’s terms and conditions.
How are the guaranteed additions calculated?
Guaranteed additions accrue at ₹50 per thousand Basic Sum Assured for the first five years, and ₹55 per thousand Basic Sum Assured from the 6th year till the end of the premium paying term.
Can I defer my survival benefits?
Yes, LIC Bima Shree offers an option to defer your survival benefits. You can take the increased amount (original benefit plus interest) at any time during the policy term.
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