LIC Bima Diamond Plan – LIC New Money Back Plan 2016
LIC of India has completed 60 years of their service in India and recently they have celebrated their Diamond Jubilee on 1st September 2016. On that node they have launched a new money back policy on the name of LIC Bima Diamond Plus, a typical non-linked, traditional Money Back policy.
In fact LIC has declared a bonus of up to 6% of the sum assured to policy holders this year on its 60th anniversary.
This new lic Bima Diamond Plan is promising to provide a triple advantage like i) enhanced protection, ii) Money-back & iii) Auto cover and accordingly they have started promoting this product as well using their wide range of lic agents. So far in 2016, LIC has launched total 4 policies including this Bima Diamond Plan. Other 3 policies launched were LIC Jeevan Labh Plan, LIC Jeevan Shikhar Plan and LIC Jeevan Pragati Plan.
In this article I am going to share every single detail about this policy covering the exclusive review of LIC Bima Diamond Plus money back policy, key features, how to use lic premium calculator to find the return on investment, maturity value, surrender value, survival benefits, rider details and many more.
Key Features of LIC Bima Diamond Plus Plan
Below are the key features of LIC’s new money back policy, Bima Diamond Plan. Although the official lic website is not yet updated with this new policy, but here are few key highlights you would love to explore.
- Enhanced Protection : Extended cover period for half of the policy term after end of the policy term.
- Money-Back (Survival Benefits) : Money back at an interval of every 4th year.
- Auto cover feature : On a policy of at least 5 full years on which subsequent premium is not duly paid, auto cover period of 2 years is available.
- Minimum Sum assured is Rs. 1,00,000 and max is Rs. 5,00,000
- Minimum entry age 14 yrs (Completed)
- Policy term -16, 20, 24 Years
- Premium Paying Term – 10, 12, 15 Years
We will update this page with more information about this policy like Benefits under Bima Diamond Policy, Illustration of LIC Bima Diamond Plan, LIC Bhima Diamond Plus Plan & Calculation of Returns on maturity , My Opinion on LIC’s Bima Diamond Plan etc shortly. Keep a track of our website for more updates.
Should I Buy LIC Bima Diamond Plan?