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.

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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 This is a withdrawn plan.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



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


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:-
++Returns are 10 years returns of Nifty 100 Index benchmark

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