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Bima Shree (Table-948) Premium Calculator
LIC Bima Shree Plan 948 is a non-linked, limited premium payment plan offered by Life Insurance Corporation of India (LIC). It is a participating, non-linked, money-back life insurance plan that offers both protection and savings benefits. Here are the key features of LIC Bima Shree Plan 948.
LIC Bima Shree Plan 948 is a life insurance plan that offers a maturity amount of 22.45 lakhs at a premium of just Rs 198 per day. The plan is a limited premium paying money-back life insurance plan and requires a minimum basic sum assured of Rs. 10 lakhs.
What is LIC Bima Shree Plan?
The LIC Bima Shree plan is a life insurance policy provided by the well-known insurance company, Life Insurance Corporation of India (LIC). It is specially designed to offer individuals a comprehensive life insurance solution, providing guaranteed financial protection and savings benefits.
One notable feature of the LIC Bima Shree plan is its limited premium paying term. Policyholders are required to pay premiums for a predetermined period, such as 14, 16, or 18 years, depending on the policy term they choose. After completing the premium paying term, the policy remains active and continues to provide coverage until the end of the policy term.
To ensure sufficient financial support, the plan offers a guaranteed minimum sum assured of Rs. 10 lakhs. This means that in the unfortunate event of the policyholder’s demise, a significant payout is assured to provide financial stability to the family. Besides the basic life cover, the plan also includes money-back benefits at regular intervals throughout the policy term. These money-back benefits are a percentage of the sum assured and are paid to the policyholder to meet their financial needs and aspirations.
Upon reaching the end of the policy term, if the policyholder survives, they are entitled to receive the maturity benefit. This maturity benefit is a lump sum amount consisting of the remaining sum assured along with any accrued bonuses. Such payment serves as a valuable source of financial security or can be used to achieve long-term financial goals.
Furthermore, the LIC Bima Shree plan allows policyholders to participate in the profits of the corporation through regular bonuses. These bonuses, declared by LIC, are added to the policy, thereby increasing its overall value and returns.
Additionally, the plan offers optional riders for enhanced coverage. One such rider is the Accidental Death Benefit rider, providing an additional sum assured in case of accidental death. Another rider is the critical illness benefit rider, which offers a lump sum payment if the policyholder is diagnosed with a critical illness.
How to Use Bima Shree Premium Calculator?
Step-by-Step Guide to Using the LIC Bima Shree Premium Calculator
- 1. Visit the calculator – https://licpremiumcalculator.pro/bima-shree-table-948/
- Select the Bima Shree (Table – 948 Plan)
- Enter Your Age
- Choosing Policy Term From (14 to 20)
- Enter the Sum Assured
- Select One From Accidental Benefit Rider or Accidental Death & Disability Rider (ADDB)
- Then click on Calculate
FAQ
LIC Bima Shree Plan 948 is a non-linked, limited premium payment life insurance plan offered by Life Insurance Corporation of India (LIC). It is a participating, non-linked, money-back plan that provides both protection and savings benefits. The plan offers a maturity amount of Rs. 22.45 lakhs at a premium of just Rs. 198 per day and requires a minimum basic sum assured of Rs. 10 lakhs.
The premium paying term for LIC Bima Shree Plan 948 varies depending on the policy term chosen, such as 14, 16, or 18 years.
After completing the premium paying term, the policy remains active and continues to provide coverage until the end of the policy term.
LIC Bima Shree Plan 948 offers a guaranteed minimum sum assured of Rs. 10 lakhs to provide financial support in case of the policyholder’s demise.
Yes, besides the basic life cover, the plan includes money-back benefits at regular intervals throughout the policy term, a maturity benefit on survival till the end of the policy term, and participation in company profits through regular bonuses. It also offers optional riders like the Accidental Death Benefit rider and critical illness benefit rider for enhanced coverage.
Conclusion
LIC Bima Shree Plan 948 is a comprehensive life insurance policy provided by Life Insurance Corporation of India. It offers a limited premium payment term, guaranteed minimum sum assured, and various benefits such as money-back benefits, maturity benefits, and participation in company profits. With its additional optional riders for enhanced coverage, the plan ensures financial security and savings benefits for policyholders and their families. This plan is a reliable choice for individuals seeking a combination of protection and savings through a single policy.