LIC Bima Diamond Plan 2023 Benefits, Feature, Details, Reviews

LIC Bima Diamond Plan –LIC Bima Precious stone arrangement is pretty much a cash back plan with restricted premium installment residency. Likewise a non-connected strategy offers a scope of advantages. The strategy can likewise be given up, relegated, or selected to a recipient. The policyholder might in fact take a credit against the strategy under determine conditions being met. LIC’s Bima Jewel plan offers a mix of insurance and investment funds. In the event of lamentable demise of the policyholder, this plan offers monetary help for the family during the arrangement term as well as past the strategy term during the Lengthy Cover Time frame (equivalent to half of the approach term and starting from the date of development). Occasional installments will likewise be made on endurance of the policyholder at indicated spans during the arrangement term.

LIC Bima Diamond Plan 2023 has been released! This document provides insights into the LIC Bima’s diamond plans for the next two years. The plans cover a wide range of topics, including the pricing of diamond products, the licensing of diamond mines, and the distribution of diamonds. It’s an important document that will help you understand LIC Bima’s strategy for the diamond market.

LIC Bima Diamond Plan 2023

LIC Bima Precious stone Strategy (Table No: 841) is a non-connected ( Not subject to share market) restricted premium repaying Cash plan which implies premium paying term is not as much as strategy term, for instance, in the event that strategy term 24 has been chosen, premium will be paid for a very long time in particular. The cash back will be given at end of at regular intervals and development toward the finish of strategy term. This strategy has one of a kind component of expanded risk cover after approach term. As this is a nearby finished plan and ready to move up to 31-08-2017.

LIC Bima is all set to unveil the much-awaited LIC Bima Diamond Plan 2023. This is a comprehensive and multi-layered insurance cover that offers protection to both travelers and business operators. The plan has been design with the rising trend of online travel in mind, and it caters to a variety of needs and preferences. Here’s a quick overview of what you can expect from this innovative plan.

LIC Bima Diamond Plan

LIC Bima Diamond Plan Details

Name Of Article LIC Bima Diamond Plan
LIC Bima Diamond Plan Click Here
Category Insurance
Official Website Click Also

Eligibility Criteria of LIC Bima Diamond Plan

For buying the LIC Bima Precious stone strategy, an individual must be a bonafide resident of India according to the Citizenship Demonstration of 1955. Coming up next are different measures for buying the arrangement: Particulars Minima Maxima
1 Sum assured 1 Lakh 5 Lakh
2 Policy tenure 16 years 20 years 24 years
3 Entry Age 14 years For 16 years For 20 years For 24 years
50 years 45 years 41 years
4 Maturity Age NA For 16 years For 20 years For 24 years
60 years 65 years
5 Premium Payment Term For 16 years For 20 years For 24 years
10 years 12 years 15 years

Benefits of LIC Bima Diamond

There are many benefits to buying a LIC Bima Diamond. This type of jewellery is made from the finest quality diamonds, and it is often chosen by luxury brands. Not only is it beautiful to look at, but it also has many practical benefits. For example, a LIC Bima Diamond will last a long time and it is resistant to scratches and damages. Plus, it is a good choice if you want to buy jewellery that will reflect your personality and style. If you’re interest in buying a LIC Bima Diamond, be sure to visit a reputable jeweller.

The following benefits are provided by the LIC Bima Diamond Policy:

  • Passing Advantage in the event of the demise of the policyholder in no less than five years of taking the strategy, the nominee(s) of the protected will be paid the aggregate guaranteed on death, for example is the most elevated among either multiple times the Yearly Premium or the Development Total Guaranteed or Essential Aggregate Guaranteed.
  • On the off chance that the policyholder passes on following five years however before the development period, the nominee(s) of the policyholder is/are qualified for get the Demise Aggregate Guaranteed in addition to any pertinent steadfastness augmentations.
  • In any case, the demise benefit payable won’t ever be under 105% of the all out expenses up until recently paid that prohibit any extra superior paid including that of rider(s) settled on (if any).
  • Notwithstanding, assuming the passing of the protected happens in the lengthy cover period, for example comparable to half of the strategy residency after the fruition of the strategy residency; an aggregate identical to a portion of the essential total guaranteed will be paid.
Sum assured Rs. 1,00,000 Rs. 5,00,000
Policy term 16,20 and 24 years
Premium payment term 10 years for policy term 16 years
12 years for policy term 20 years
15 years for policy term 24 years
Entry age 14 years 50 years
Age at maturity 66 years for policy term 16 years
65 years for policy term 20 and 24 years
Premium payment frequency Yearly, half-yearly, quarterly and monthly

Survival Benefit

A proper extent of the Essential Total Guarantee will be payable in the event that the safeguarded finishes the strategy residency.

  • Assuming the approach residency is 16 years, 15% of the aggregate guarantee toward the finish of the fourth, eighth, and twelfth arrangement years will be paid.
  • Assuming the approach residency is 20 years, 15% of the aggregate guarantee toward the finish of the fourth, eighth, twelfth and sixteenth arrangement years will be paid.
  • Assuming the approach residency is 24 years, 12% of the aggregate guarantee toward the finish of the fourth, eighth, twelfth, sixteenth, and twentieth arrangement years will be paid.

Maturity Benefit

The total guaranteed on development will be payable alongside reliability expansion, if pertinent; assuming the policyholder finishes the strategy residency. The aggregate guarantee on development will be 55% of the essential total guaranteed assuming the arrangement residency is of sixteen years and 40% of the fundamental total guarantee in the event that the strategy residency is of twenty or 24 years.


The LIC Bima Precious stone Strategy offers two discretionary rider advantages to the policyholder viz. Unplan Demise and Inability Advantage and LIC’s New Expression Confirmation Rider.

LIC’s New Term Assurance Rider

This rider will come at an extra exceptional that will be at the same time paid with the base premium and premium for different riders settl on if any. The most extreme cover sum that can be picked is Rs.25 Lakh and on the hapless end of the guaranteed, the LIC will pay the aggregate guaranteed under this rider alongside the fundamental total guaranteed under the base arrangement.

Loyalty Addition

The LIC Bima Jewel Plan will be qualified for taking part in the benefits of the LIC following five years of finishing the strategy residency as death or development.

Tax Benefits

The LIC Bima Jewel Strategy is qualified for charge concession in accordance with Sec. 80(C) of the Annual Expense Demonstration of 1961 and Sec. 10(10D) of a similar demonstration. (*Tax benefit is liable to changes in charge regulations.)

LIC Bima Diamond Premium Structure

The policyholder will undoubtedly pay the base arrangement premium alongside the premium of the riders picked if any on the due date. The expenses can be paid month to month, quarterly, bi-yearly, or every year. A 15-days’ elegance period from the due date will be accommodate regularly schedule installments and a 30-days effortlessness period will be accommodated every year, bi-every year, and quarterly methods of premium installment.

On the off chance that the hapless destruction of the safeguarded happens inside the elegance period, the full advantages qualified for the nominee(s) will be payable in the wake of deducting the neglected premium.

Auto Cover Period

In the event that charges for three sequential years however not in excess of five successive years have been paid and the ensuing expenses were not paid, an auto cover time of a half year beginning from the main neglect premium due date will be presente on the policyholder.

Documents Required

Anybody who needs to buy the LIC Bima Precious stone strategy needs to give the accompanying archives:

  • Age confirmation
  • Pay verification
  • Address verification like Skillet card, AADHAAR card, Driving Permit, Visa duplicate, service bills, and so forth.
  • 2 late visa size photos and any clinical report in the event that ask by the safety net provider need to likewise be given.

The Process to Buy LIC Bima Diamond Online

If you’re interest in buying a LIC Bima diamond online, you’ll want to read this article first. Here we’ll discuss the steps you need to take to buy a diamond online securely and without any problems. We’ll also provide some tips on how to choose the best LIC Bima diamond for your needs. So whether you’re looking to purchase a diamond for your personal use or as a gift, read on and get start!

One requirements to follow the means underneath to purchase LIC Bima Precious stone strategy on the web:

  • Clients can get to the LIC India official site to purchase LIC Bima Precious stone Arrangement.
  • Find “Apply Now” in the strategy area.
  • It opens an information structure and the client needs to fill in private subtleties in it. This incorporates his name, address, city, pin code, DOB, age, and contact subtleties like wards, and family pay.
  • They can click “Submit” in the wake of approving LIC delegates to reach them.
  • One of the LIC agents will reach them to help them with the arrangement buy.

Key Exclusions

  • The arrangement slips
  • The policyholder intentionally covers any applicable data about him/her at the hour of marking the approach archive
  • Assuming that the policyholder ends it all in the span of a year from the date of marking the strategy or date of strategy restoration.

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