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On Diamond Jubilee year of LIC, Bima Diamond  plan is introduced by LIC proud of being 60 Years of Service and Trust. It is money back insurance plan which offers survival benefit every after 4 years with lump sum guaranteed payment at the end of term. Policy can be availed with duration of 16 Years, 20 Years and 24 years and can be taken any person between the age group of 14 years to 50 years. Maximum Sum Assured available is Rs. 500000 only.

Additional Accident Benefit

By paying small extra premium amount, you can secure your life for high insurance protection on natural or accidental death by opting DAB and Term Rider.


Profit Sharing as per Valuation

As per valuation result declare by LIC, profit is being shared among all policyholder even after premium payment term in the form of loyalty addition payable at the time of maturity


Offers Extended Risk Cover

This plan offers 50 % of basic sum assured as extended risk cover for half of the policy term after maturity without paying any extra premium.


Assured Money Back Return

Plan offers you assured money back return every after 4 years. For term 16 years and 20 years, 15 % of Sum Assured and for term 24 years, 12 % of sum assured will be payable.


Advantages

Avail Tax benefit on premium paid
Tax Free Maturity Amount
Tension Free Claim Settlement

Conditions


 MinimumMaximum
Age at entry14 Years completed age50 Years nearest birthday for policy term 16 Years
  45 Years nearest birthday for policy term 20 Years
  41 Years nearest birthday for policy term 24 Years
Term and PPT16/10    20/12   24/15
Maturity Age30 Years65 Years, if Term is 20 and 24 Years
  66 Years, if Term is 16 Years
Sum Assured₹ 1,00,000/-₹ 5,00,000/-
Mode of PaymentYearly, Half Yearly, Quarterly, SSS, Monthly (ECS)



Sum Assured shall be available in multiples of ₹ 20,000/-


DAB Conditions

Minimum Entry Age : 18 Years completed

Maximum Entry Age : 50 Years nearest birthday

Maximum Maturity Age : 65 Years nearest birthday for policy term 20 and 24 Years, 66 Years nearest birthday for policy term 16 Years

Minimum Sum Assured : ₹ 20,000/-

Maximum Sum Assured : ₹ 100 Lakh to not exceed to the Sum Assured under the basic plan


Sum Assured shall be in multiples of ₹ 20,000/-



Term Assurance Rider


Minimum Entry Age :18 Years completed
Maximum Entry Age :50 Years nearest birthday for Policy Term 16 Years
 45 Years nearest birthday for Policy Term 20 Years
 41 Years nearest birthday for Policy Term 24 Years
Minimum Sum Assured :₹ 1,00,000/-
Maximum Sum Assured :₹ 25 Lakh to not exceed to the Sum Assured under the basic plan
 
Sum Assured shall be in multiples of ₹ 20,000/-



Survival and Maturity Benefit


Policy Year16 Years20 Years24 Years
4th Year15 % of Basic Sum Assured15 % of Basic Sum Assured12 % of Basic Sum Assured
8th Year15 % of Basic Sum Assured15 % of Basic Sum Assured12 % of Basic Sum Assured
12th Year15 % of Basic Sum Assured15 % of Basic Sum Assured12 % of Basic Sum Assured
16th Year55 % of Basic Sum Assured along with Loyalty Additions, if Any15 % of Basic Sum Assured12 % of Basic Sum Assured
20th Year 40 % of Basic Sum Assured along with Loyalty Additions, if Any12 % of Basic Sum Assured
24th Year  40 % of Basic Sum Assured along with Loyalty Additions, if Any