LIC Bima Account 1

By | February 2, 2011

LIC Bima Account 1 is a simple non-linked plan under which you can be covered without undergoing any medical examination. Its a unique plan with Insurance and investment with guaranteed return.

LIC Bima Account 1 features:

  • Simple endowment plan
  • High Liquidity
  • Guaranteed minimum return
  • No medical examination required
  • Transparent charges
  • High Risk cover

Under LIC Bima Account, (Plan No. 805) the premiums paid by you, after deduction of charges, will be credited to the the Bima Account.

Policyholder’s Account will consist of 2 parts:

  1. Bima account Regular Premium Account
  2. Top-up Premium Account

Your regular premiums will be credited in your regular account and if you top up your account it will be credited to your top up account.
LIC Bima Account
Loan facility will be available immediately after first policy anniversary.

6% guaranteed Interest:
Bima Account will earn an annual interest of 6% p.a. provided the policy is in force and 5% p.a. if the policy is paid-up. These interest is guaranteed for whole policy term. In addition to this guaranteed return, if all due premiums are paid, your account may earn an additional return depending upon the experience under Bima account plan.


Benefits payable on death:
In case of death of the Life Assured during the policy term, when the policy is inforce, the nominee will get the Sum Assured along with the balance in the Policyholder’s Account.

Benefits payable on maturity:
On life assured  surviving the date of maturity an amount equal to balance in the Bima Account is payable.

Eligibility conditions and terms of Bima account 1:

Minimum Entry Age:     11 (completed)
Maximum Entry Age:     50 (nearest birthday)
Policy Term:     5 to 7
Minimum Maturity Age:     18 (completed)
Maximum Maturity Age:     57 (nearest birthday)
Minimum Premium:

Yearly Rs.7,000
Half-yearly Rs.4,000
Quarterly    Rs.2,000
Monthly (ECS) Rs. 600
Top-up premium: Rs.1000

Minimum Sum Assured: 10 times the annualized premium.

Maximum Sum Assured:

  • 20 times of the annualized premium up to age 35 years
  • 14 times of the annualized premium for age between 36 to 45years
  • 10 times of the annualized premium for age between 46 to 50 years

Regular premium charges:

Expenses charge (including commission)
First Year 2nd & 3rd Years Thereafter
27.5% 7.5% 5%

Expense charge for top-up Premium:      2.5%

Category: Endowment Plan

About Deepak

Deepak is Authorized LIC Agent from Mumbai. He offers quick and personalized service to his clients in India and Abroad. For Life Insurance, Term Insurance, ULIP Investment and Child Insurance plan from LIC Of India contact him.

8 thoughts on “LIC Bima Account 1

  1. ranbir singh.

    i want to that my policy data information show in internet so please give me my policy information and code number in my computer.

  2. ganesh

    if i invest 7000 per annam for 5 years how much can i get back after 5 yaer.

  3. madhavanmullappilly

    what is the latest nav of lic’s market plus growth pollicy 181-policy no.776355519

  4. manzar khan

    I would like know more details about bima a/c for adopt this plan,

    warm rgds
    Manzar khan

  5. dipak patel

    dear sir,
    please i am old policy holder. you are request for new plan in this month.

  6. Bardack

    Dear Nilesh,I guess you have taken the LIC Pension Plus either on your own OR thru your revtiale agent. Assuming 10% growth every year over the 20 year period and mixed fund option (check your policy doc, whether fund option is mixed OR debt) for your LIC Pension Plus, then Rs 40 lakhs will accumulate at the end of 20 years. This accumulated amount will provide you monthly pension of Rs 24,000 per month till you are alive.

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