LIC’s Bima Ratna

LIC’s Bima Ratna (UIN: 512N345V01)

A Non-Linked, Non-Participating, Individual Savings, Life Insurance Plan

LIC’s Bima Ratna combines the benefits of protection and savings, offering financial support in case of the policyholder’s death and periodical payments on survival. The plan also includes a loan facility to address liquidity needs.

Key Benefits:

  1. Death Benefit:
    • On the policyholder’s death during the policy term, the “Sum Assured on Death” along with accrued Guaranteed Additions is payable.
    • “Sum Assured on Death” is the higher of 125% of Basic Sum Assured or 7 times the annualized premium.
    • The Death Benefit will be at least 105% of total premiums paid.
    • For minors under 8 years old, if death occurs before the commencement of risk, the premiums paid will be refunded without interest.
  2. Survival Benefit:
    • Fixed percentages of the Basic Sum Assured are payable at specified durations:
      • 15-year term: 25% at the end of 13th and 14th policy years.
      • 20-year term: 25% at the end of 18th and 19th policy years.
      • 25-year term: 25% at the end of 23rd and 24th policy years.
  3. Maturity Benefit:
    • On surviving the policy term, 50% of the Basic Sum Assured along with accrued Guaranteed Additions is payable.
  4. Guaranteed Additions:
    • Guaranteed Additions accrue at the end of each policy year:
      • Rs 50 per Rs 1,000 Basic Sum Assured from the 1st to 5th year.
      • Rs 55 per Rs 1,000 Basic Sum Assured from the 6th to 10th year.
      • Rs 60 per Rs 1,000 Basic Sum Assured from the 11th to 25th year.
    • Guaranteed Additions cease if premiums are not duly paid.

Eligibility Conditions and Restrictions:

  • Minimum Basic Sum Assured: Rs. 5,00,000
  • Maximum Basic Sum Assured: No limit (in multiples of Rs. 25,000)
  • Policy Term: 15, 20, or 25 years
  • Premium Paying Term: 11, 16, or 21 years depending on the policy term
  • Age at Entry: 90 days to 55 years (varies by policy term)
  • Age at Maturity: 20 to 70 years

Commencement of Risk:

  • For policyholders under 8 years, the risk commences 2 years from the policy start date or on the policy anniversary following the 8th birthday, whichever is earlier.
  • For those aged 8 years or more, risk commences immediately.

Optional Benefits:


  • Accidental Death and Disability Benefit Rider
  • Accident Benefit Rider
  • New Term Assurance Rider
  • New Critical Illness Benefit Rider
  • Premium Waiver Benefit Rider

Settlement Option:

  • Maturity Benefit can be received in instalments over 5 years instead of a lump sum.
  • Instalment amounts have minimum thresholds based on the mode of payment.

For more detailed information, potential policyholders should refer to the LIC Bima Ratna brochure or contact the nearest LIC branch.