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  LIC's Bima Jyoti

LIC's Bima Jyoti is a Non-Linked, Non-Participating, Individual, Savings Plan which offers an attractive combination of protection and savings. This plan provides financial support for the family in case of unfortunate death of the policyholders during the policy term and guaranteed lumpsum payment to the surviving policyholder at the time of maturity.

Under this plan, Guaranteed Additions shall accrue at the rate of Rs.50 per thousand Basic Sum Assured at the end of each policy year throughout the policy term. This plan will also be available through online application process.

Maturity Benefit

On the life assured surviving to the end of the policy term, "Sum Assured on Maturity" along with accrued Guaranteed Additions, shall be payable.

Guaranteed Additions

Provided the policy is inforce, a Guaranteed Addition at the rate of Rs.50 per thousand Basic Sum Assured shall accrue at the end of each policy year for which full year’s premiums have been paid throughout the policy term. In case the premiums are not duly paid, the Guaranteed Additions shall cease to accrue under a policy.

Death Benefit

On death during the policy term before the date of commencement of risk: Return of premiums paid excluding taxes, any extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any.

On death during the policy term after the date of commencement of risk: "Sum Assured on Death" along with accrued Guaranteed Additions.

Where "Sum Assured on Death" is defined as the higher of 125 % of Basic Sum Assured or 7 times of annualized premium. This death benefit shall not be less than 105% of all the premiums paid upto the date of death. Premiums referred above shall not include taxes, any extra amount chargeable under the policy due to underwriting decision and rider premium(s), if any.

Optional Rider Benefits

  • LIC's Accidental Death and Disability Benefit Rider UIN (512B209V02)
  • LIC's New Term Assurance Rider (UIN 512B210V01)

Option Available Under The Base Plan

Settlement Option (for Maturity Benefit): Settlement Option is an option to receive Maturity Benefit in installments over the chosen period of 5 or 10 or 15 years. The installments shall be paid in advance at yearly or half-yearly or quarterly or monthly intervals.

Option to take Death Benefit in Instalments: This is an option to receive Death Benefit in installments over the chosen period of 5 or 10 or 15 years instead of lump sum amount under an inforce as well as paid up policy.

Rebate for online Sale

Proposal to be completed under online sales shall be eligible for rebate on tabular premium at the following rates:

Premium Paying Term Online Sale (Rate of rebate)
10 to 14 years 7.5%
15 years 10%

Rebate For Higher Basic Sum Assured

Basic Sum Assured (B.S.A) Rebate on tabular premium per Rs 1000 B.S.A.(Rs.)
1,00,000 to 2,75,000 NIL
3,00,000 to 4,75,000 4.00
5,00,000 to 9,75,000 5.00
10,00,000 and above 6.00

Eligibility Conditions And Other Restrictions:

Minimum Sum Assured Rs. 100,000
Maximum Sum Assured No limit
Minimum age at entry 90 days (completed) (However for online plans, minor life is not allowed. You can purchase offline from any nearest branch.
Maximum age at entry 60 Years (nearer birthday)
Maximum Maturity age 75 years (nearer birthday)
Minimum Maturity age 18 years (Completed)
Policy Term 15 to 20 years
Premium Paying Term Policy Term less 5 years
Mode of payment Yearly, Half Yearly, Quarterly, and Monthly (NACH only)
Surrender The policy can be surrendered at any time during the Policy Term provided atleast two full year’s premium have been paid.
Loan Loan facility is available under this plan, after payment of premiums for atleast two full year’s have been paid.
LIC's Bima Jyoti Plan Benefit Illustration LIC's Bima Jyoti Plan Leaflets Buy Online