LIC Bima Plus Plan

Unit Linked Insurance Plans, also known as ULIPs, are a combination of investment and life insurance plans. These cover the policyholder’s life by providing death benefits and gives the person insured an opportunity to invest in various funds for multiple income growth. So these plans offer a flexible approach to investment along with a protection cover.

Read more
Benefits of LIC Plans
Buy LIC policy online hassle free
Tax saving under Sec 80C & 10(10D)^
High returns market link plans
Sovereign guarantee as per Sec 37 of LIC Act
LIC life insurance
We are rated++
rating
9.7 Crore
Registered Consumer
51
Insurance Partners
4.9 Crore
Policies Sold
Now Available on Policybazaar
Grow your wealth with LIC
+91
Secure
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company
Get Updates on WhatsApp
We are rated++
rating
9.7 Crore
Registered Consumer
51
Insurance Partners
4.9 Crore
Policies Sold

The policy invests in different types of equity and debt funds. LIC Bima Plus Plan is such a unit-linked participating plan that provides an opportunity for the person insured to grow their funds and get a life cover at the same time. This plan also has a maturity benefit and tax benefits. This is a withdrawn plan.

Eligibility Conditions and Other Restrictions

Parameters

Details

Policy Tenure

10 years

Premium Paying Term

Single and regular premium payment term

Premium Paying Mode

Annually and semi-annually

Entry Age

LIC Bima Plus Policy-

Minimum - 12 years

Maximum - 55 years

For Rider-

Minimum - 18 years

Maximum - 55 years

Maturity Age

65 years

Grace Period

For annually and semi-annually, it is 30 days

Sum Assured

5 times the annualized premium

Liquidity

Not Available

Core Benefits of the LIC Bima Plus Plan

The benefits of the online LIC Bima Plus Plan are: -

  1. Maturity Benefit:

    5% of the total premiums paid plus the cash value of the funds available as on maturity date are paid as maturity benefit, considering the LIC Bima Plus policy status is active.

  2. Death Benefit:

    On the unfortunate demise of the policyholder except for accidental death, the nominee gets the following: -

    For plans in which the sum assured is up to 2 Lakh:

    • On the demise of the person insured in the first 6 months from the commencement of the policy, the person insured gets 30% of the sum assured plus cash value.
    • For the demise of the person insured in the next 6 months, the person insured gets 60% of the sum assured plus cash value.
    • After the 1st year, the person insured gets the full sum assured plus cash value for the death of the policyholder.
    • On the death of the person insured during the last policy year, the person insured gets the full sum assured plus cash value plus 5% of the total premiums paid.

    For plans in which the sum assured is greater than 2 lakhs:

    • On the death of the person insured, the nominee gets an amount equal to the sum assured and then bid value as on the date of death of the policyholder.
    • On the death of the policyholder during the final year, the policyholder gets 5% of all the premiums paid plus full sum assured plus cash value.
      • Surrender Value: On surrendering the policy, the person insured gets fund value. If the policy is surrendered before 5 years, some charges will be deducted.
      • Tax Benefit: There is a tax exemption on the premium paid under Section 80 C of the Income Tax Act, 1961 by the policyholder. *Tax benefits are subject to change with tax laws.

The Premium for LIC Bima Plus Plan

The LIC Bima Plus Plan premium is a single pay and regular payment plan. For the one-time premium payment, the minimum premium is Rs 20,000.

  • The minimum premium is Rs 2,500 for a half-yearly premium for the regular payment plan.
  • The minimum premium is Rs 5000 for the yearly premium for the regular payment plan.
  • There is no limit for the maximum premium for single pay as well as regular pay policy.

*Standard terms and conditions apply.

Use the LIC Bima Plus Plan calculator to calculate the premium amount.

Additional Riders for LIC Bima Plus Plan

The LIC Bima Plus policy has one rider, which is the accident benefit rider. The rider covers permanent disability or death due to an accident of the policyholder. The benefit is paid to the nominee. The maximum sum insured in this plan can be up to Rs 25 lakhs.

Eligibility for LIC Bima Plus Plan

The LIC Bima Plus Policy has the following eligibility condition: -

Entry Age -

  • Minimum - 12 years
  • Maximum - 55 years

Maturity Age - 65 years

What are the Documents Required to Buy this Policy?

To buy LIC Bima Plus Plan one must have the following documents: -

  • Address Proof: Aadhaar Card, Voter Card, Driving License, PAN Card, and others.
  • Identity Proof: Birth certificate, Ration Card, Passport, Aadhaar Card, etc.
  • Income Proof: Form 16, ITR, and salary slips.

How to Buy this Plan Online?

To buy LIC Bima Plus Plan, the policyholder must go to the policy seller’s website and do the following: -

  • The person insured chooses the LIC Bima Plus Policy below ULIP plans and selects the purchase now button.
  • The applicant must enter the birth date, name, email address, contact number, address, and other relevant information
  • Select the sum assured, premium mode, & the amount of the premium gets calculated on entering the details.
  • One needs to pay the premium by entering credit/debit card details.

On payment of premium, the plan documents get mailed to the policyholder at their registered email address. To check LIC Bima Plus Plan status, visit or contact LIC customer care center.

*Withdrawn Policy

Exclusions of LIC Bima Plus Plan

As per LIC Bima Plus Plan reviews, some of the exclusions are suicide, self-harm, insanity, death due to participation in adventure sports, injuries in riots, civil wars, breach of the law, etc.


*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Tax benefit are for Investments made up to Rs.2.5 L/ yr and are subject to change as per tax laws.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
++Returns are 10 years returns of Nifty 100 Index benchmark
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

LIC of India
Need guidance? Ask here
LIC Plans
LIC Amritbaal
LIC Index Plus
LIC Jeevan Dhara II-872
LIC Jeevan Utsav
LIC Jeevan Kiran
LIC Dhan Vriddhi
LIC Monthly Investment Plans
LIC Jeevan Azad
LIC 1 Crore Endowment Plans
LIC Jeevan Labh 1 Crore
LIC Crorepati Plan
LIC Dhan Varsha - Plan No. 866
LIC Pension Plus Plan
LIC New Jeevan Shanti
LIC Bima Ratna
LIC Group Plans
LIC Fixed Deposit Monthly Income Plan
LIC Savings Plans
LIC’s New Jeevan Anand
LIC New Jeevan Anand Plan 915
LIC's Saral Jeevan Bima
LIC's Dhan Rekha
LIC Jeevan Labh 836
LIC Jeevan Jyoti Bima Yojana
LIC Child Plans Single Premium
LIC Child Plan Fixed Deposit
LIC Jeevan Akshay VII
LIC Yearly Plan
LIC Bima Jyoti (Plan 860)
LIC’s New Bima Bachat Plan 916
LIC Bachat Plus Plan 861
LIC Policy for Girl Child in India
LIC Samriddhi Plus
LIC New Janaraksha Plan
LIC Nivesh Plus
LIC Policy for Women 2025
LIC Plans for 15 years
LIC Jeevan Shree
LIC Jeevan Chhaya
LIC Jeevan Vriddhi
LIC Jeevan Saathi
LIC Jeevan Rekha
LIC Jeevan Pramukh
LIC Jeevan Dhara
LIC Money Plus
LIC Micro Bachat Policy
LIC Endowment Plus Plan
LIC Endowment Assurance Policy
LIC Bhagya Lakshmi Plan
LIC Bima Diamond
LIC Anmol Jeevan
LIC Bima Shree (Plan No. 948)
LIC Jeevan Saathi Plus
LIC Jeevan Shiromani Plan
LIC Annuity Plans
LIC Jeevan Akshay VII Plan
LIC SIIP Plan (Plan no. 852) 2025
LIC Jeevan Umang Plan
LIC Jeevan Shanti Plan
LIC Online Premium Payment
LIC Jeevan Labh Policy-936
LIC Money Plus Plan
LIC Komal Jeevan Plan
LIC Jeevan Tarang Plan
LIC Bima Bachat Plan
LIC’s New Money Back Plan-25 years
LIC Money Back Plan 20 years
LIC Limited Premium Endowment Plan
LIC Jeevan Rakshak Plan
LIC New Jeevan Anand (Previously LIC Plan 149)
LIC New Endowment Plan
LIC Varishtha Pension Bima Yojana
LIC Investment Plans
LIC Pension Plans
Show More Plans

LIC of India articles

Recent Articles
Popular Articles
Prime Minister Modi Launches LIC Bima Sakhi Yojana to Empower Women

10 Dec 2024

4 min read

Prime Minister Narendra Modi has launched the Bima Sakhi Yojana
Read more
LIC Bima Sakhi Yojana

10 Dec 2024

3 min read

The Bima Sakhi Yojana, launched by Prime Minister Narendra Modi
Read more
LIC Yuva Term Plan Calculator

20 Nov 2024

3 min read

LIC Yuva Term Plan Calculator is an online tool designed to
Read more
LIC Index Plus Plan Details

15 Oct 2024

2 min read

The LIC Index Plus plan is a ULIP offered by the Life Insurance
Read more
How to Buy LIC Index Plus from Policybazaar?

15 Oct 2024

3 min read

The LIC Index Plus combines the benefits of insurance and
Read more
LIC Online Premium Payment

3 min read

The LIC Online Payment by Policybazaar enables policyholders to pay their insurance premiums online at their
Read more
How to Check the Maturity Amount of LIC Policies?

4 min read

The LIC maturity value is the amount payable to the policyholders at the end of their policy term. To calculate
Read more
Surrendering LIC Policy Before Maturity Time: Your Guide!

3 min read

The surrender value of an LIC policy is the amount given to the policyholder if they cancel their policy before
Read more

top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL