Plan Features
Bima Shree (948)
Product Summary
Bima Shree (948) is a non-linked with-profits, limited premium money back insurance plan. specially designed and targeted at medium to high networth individuals(HNIs). Minimum sum assured of the plan is restricted to 10 lakh.
Premium Payment Mode :
Yearly, Half Yearly, Quartely, Monthly(SSS and NACH)
Annuity Mode
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Optional Benefits
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Term :
14/10, 16/12, 18/14 AND 20/16 years
Premium Paying Term :
14/10, 16/12, 18/14 AND 20/16 years
Minimum Age at Entry :
18 Years completed
Maximum Age at Entry :
55 years for term 14, 51 years for term 16, 48 years for term 18 and 45 year for term 20.
Annuity Options
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Minimum Purchase Price
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Deferment Period
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Joint Annuity
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Maximum Cover Ceasing Age:
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Maturity Age:
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Sum Assured
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Maturity Benefit
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Death Benefit
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Minimum Basic Sum Assured :
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Minimum age at the end of Premium Paying Term
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Maximum Maturity Age :
69 Years for term 14, 67 years for term 16, 66 years for term 18, 65 years for term 20.
Minimum Premium:
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Maximum Premium:
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Minimum Basic Sum Assured :
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Sum Assured on Death
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Minimum Sum Assured :
Rs 10 Lakh and Multiple of 1 lakh there after.
Maximum Sum Assured :
No Limit (Subject to other conditions)
Guaranteed Additions
Rs 50 per 1000 Sum Assured for first 5 years. Rs 55 per 1000 Sum Assured for remaining premium paying term.
Survival Benefits
For 14 year policy: 30% of Basic Sum assured in 10th and 12th year. For 16 year policy: 35% of Basic Sum assured in 12th and 14th year. For 18 year policy: 40% of Basic Sum assured in 14th and 16th year. For 20 year policy: 45% of Basic Sum assured in 16th and 18th year.
Riders Available
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Accidental Death and Disability benefit (ADDB) :
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Policy Benefits
On Death :
For first five years: Sum Assured of death + GA . Death after five years: Sum Assured on Death + Guaranteed additions + Loyalty additions(if any).
On Survival :
Maturity Benefit: Remaining Sum Assured (After payment of survival benefits) + Guaranteed additions + Loyalty additions (if any).
On detection of Early Stage Cancer
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On detection of Major Stage Cancer
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Settlement Option :
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Multiple Allowed
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Surrender Value :
Policy can be surrendered at any time during the policy term provided at least 1 full year premium have been paid and one full year completed since inception of policy.
Loan :
Loan can be availed at any time during the policy term provided at least 1 full year premium has been paid and one full year completed since inception of policy.
Income Tax Benefit :
Premium paid under the policy is eligible for Tax rebate under section 80C. Maturity benefit under this policy is tax free under section 10 (10 D) of income tax act.
Proposal Form :
Form No 300 for major lives and Form No 360 for minor lives.