LIC's Bima Shree
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LIC's Bima Shree (Plan No. 948, UIN: 512N316V02) was a non-linked, with-profits, limited premium payment money-back life insurance plan offered by the Life Insurance Corporation of India (LIC). This plan was specifically designed for high-net-worth individuals, combining life protection with periodic survival benefits and a lump sum at maturity.
🔑 Key Features
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Plan Type: Non-linked, with-profits, limited premium payment money-back life insurance plan.
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Policy Term Options: 14, 16, 18, or 20 years.
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Premium Paying Term: Policy term minus 4 years.
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Premium Payment Modes: Yearly, Half-yearly, Quarterly, Monthly (through NACH), or salary deductions.
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Loan Facility: Available after payment of premiums for at least two full years.
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Grace Period: 30 days for yearly, half-yearly, and quarterly premiums; 15 days for monthly premiums.
🎯 Eligibility Criteria
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Minimum Entry Age: 8 years (completed).
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Maximum Entry Age: Varies with policy term:
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14-year term: 55 years
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16-year term: 51 years
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18-year term: 48 years
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20-year term: 45 years
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Maximum Maturity Age: Varies with policy term:
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14-year term: 69 years
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16-year term: 67 years
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18-year term: 66 years
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20-year term: 65 years
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Minimum Basic Sum Assured: ₹10,00,000.
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Maximum Basic Sum Assured: No upper limit