LIC Bima Platinum (Plan 770)
Complete Features, Eligibility, Benefits & Return Analysis
LIC Bima Platinum Plan 770 – Overview
LIC Bima Platinum (Plan 770) is a life insurance savings plan designed to combine life protection with structured savings and policy benefits.
The plan is intended for customers looking for long-term financial planning along with life insurance protection and benefits payable according to the selected policy option and applicable terms.
Key Features at a Glance
Premiums can be paid for the applicable Premium Paying Term selected by the policyholder.
Guaranteed Additions are added according to the applicable plan terms and conditions.
Applicable policy options may provide regular income benefits after the Premium Paying Term.
A one-time booster benefit may be payable according to the selected option and policy conditions.
A maturity benefit is payable if the Life Assured survives until the end of the policy term, subject to policy conditions.
The policy provides life insurance protection during the applicable policy term.
Eligibility & Policy Parameters
| Parameter | Details |
|---|---|
| Plan Type | Non-Linked, Non-Participating Life Insurance Savings Plan |
| Premium Paying Term | Subject to the available plan options |
| Policy Term | Depends on the selected PPT and applicable option |
| Minimum Age | Depends on the selected Premium Paying Term |
| Maximum Age | Depends on the selected PPT and policy option |
| Basic Sum Assured | Subject to applicable LIC rules and underwriting |
| Maximum Sum Assured | Subject to LIC underwriting requirements |
Benefits of LIC Bima Platinum Plan 770
1. Guaranteed Additions
One of the important features of the plan is the Guaranteed Addition.
Guaranteed Additions are calculated according to the applicable rate, annualized premium and policy terms. These additions can contribute to the overall benefit payable under the policy.
2. Regular Income Benefit
Under the applicable plan option, the policy may provide Regular Income Benefits after completion of the Premium Paying Term.
Regular income can help customers plan for future financial requirements such as education, family expenses, retirement planning and other long-term goals.
3. Booster Benefit
A one-time Booster Benefit may become payable at the specified time according to the selected option and policy conditions.
4. Maturity Benefit
If the Life Assured survives until the end of the policy term, the applicable maturity benefit becomes payable according to the policy conditions.
5. Death Benefit
In case of death of the Life Assured during the policy term, the nominee becomes entitled to the applicable Death Benefit subject to the terms and conditions of the policy.
Illustrative Example
Consider an illustrative example where a 30-year-old individual selects an applicable Sum Assured and Premium Paying Term under LIC Bima Platinum.
- Premiums are paid during the selected Premium Paying Term.
- Applicable Guaranteed Additions may accumulate during the policy.
- Regular Income Benefits may become payable according to the selected option.
- A Booster Benefit may be payable at the specified time.
- The applicable Maturity Benefit becomes payable at policy maturity.
Why Consider LIC Bima Platinum Plan 770?
LIC Bima Platinum may be considered by individuals looking for a combination of:
Insurance protection for the Life Assured.
Structured savings over the selected policy term.
Applicable income benefits according to policy terms.
Can be considered for long-term financial goals.
Frequently Asked Questions
LIC Bima Platinum (Plan 770) is a life insurance savings plan that combines life protection with benefits defined under the applicable policy terms.
Yes, Guaranteed Additions are available according to the applicable plan terms and conditions.
Under the applicable option, Regular Income Benefits may be payable according to the specified policy conditions.
A Booster Benefit is available under the applicable plan option and is payable according to the specified conditions.
If the Life Assured survives until the end of the policy term, the applicable Maturity Benefit becomes payable.
A policy loan may be available subject to the applicable policy conditions and surrender value requirements.
Applicable LIC riders may be available subject to eligibility, underwriting and rider terms and conditions.
Want to Know Your LIC Plan 770 Benefits?
Get a personalised premium and benefit illustration based on your age, required Sum Assured and Premium Paying Term.
Contact your LIC Advisor for the latest official quotation.
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