LIC of India introduces LIC’s Bima Ratna (Plan 864)

Life Insurance Corporation of India introduced a new plan Bima Ratna with effect from 

27.05.2022 which is Non Linked, Non-participating, Individual, Savings Life Insurance Plan 

which offers a combination of protection and savings. It is a Limited Premium paying, 

Money Back Plan with Guaranteed Additions.

The plan is available for a term of 15, 20 and 25 years. Premium Paying term is 4 years less 

than Policy term. Plan provides 25% of Basic Sum Assured as Survival Benefit at the end of 

each year for the last two years of policy term (T-2 & T-1) , provided the policy is in force

and on maturity balance 50% of Sum Assured is payable along with Guaranteed Additions. 

The Guaranteed Additions shall increase in steps with the duration of the policy. The plan 

provides financial support for the family in case of unfortunate death of the Life Assured 

during the term of the policy after the commencement of risk. The Sum Assured on Death 

is higher of the 125% of Basic Sum Assured or 7 times of annualized premium and 

shall not be less than 105% of total premiums paid excluding Taxes, any extra premium and 

premium paid for riders.

The plan also takes care of liquidity needs through loan facility. Optional riders are available 

under this plan on payment of additional premium subject to conditions. Settlement option is 

available to receive maturity/death benefit in instalments over a period of 5 years instead of 

lump sum under an inforce as well as paid up policy.

The minimum Sum Assured under this plan is Rs.5 lakhs and can be increased on multiples 

of Rs.25000/-. There is no limit for maximum Sum Assured. The minimum age at entry 

ranges from 90 days to 5 years depending upon chosen Policy term. The plan is available 

for purchase only through LIC’s Corporate Agents (including Banks), Insurance Marketing 

Firms (IMF), Brokers, CPSC-SPV and POSP-LIs engaged by these intermediaries. 

Dated at Mumbai on 2 7

t h M a y 2 0 2 2 .

For Further Information please contact: Executive Director (CC)

LIC of India, Central Office, Mumbai. Email id:ed_cc@licindia.com

Visit us at www.licindia.in