LIC’s Bima Shree Plan 848 Calculator
A non-linked, with-profit, limited premium payment money back life insurance plan
Plan Highlights
- Minimum Basic Sum Assured: ₹10,00,000
- Policy Terms: 14, 16, 18 & 20 years
- Premium Paying Term = Policy Term – 4 years
- Guaranteed Additions ₹50 / ₹55 per ₹1000 BSA
- Money Back + Maturity + Loyalty Benefits
- Yearly Mode Rebate: 2% | Half-Yearly: 1%
Policy Illustration
| Policy Year | Benefit | Amount |
|---|
• Guaranteed Addition: ₹50 per ₹1000 BSA for first 5 years, ₹55 thereafter till PPT completion.
• Loyalty Addition is illustrative only.
• Death Benefit: Higher of: 125% BSA OR 10× annual premium.
• GST extra as applicable.
• Values are approximate brochure-based illustrations.
Available Riders in LIC Bima Shree Plan 848
Policyholders can enhance their insurance coverage by adding optional rider benefits such as:
- Accidental Death Benefit Rider
- Term Assurance Rider
- Critical Illness Rider
- Premium Waiver Rider
These riders provide additional financial protection against unforeseen situations and improve the overall coverage of the policy.
Introduction to LIC Bima Shree Plan 848
Life insurance plays a major role in protecting families from financial uncertainties and future risks. Life Insurance Corporation of India, one of India’s leading insurance providers, offers several insurance and savings plans designed for different financial needs.
Among these plans, LIC Bima Shree Plan 848 is considered a premium money-back insurance policy that combines life insurance protection with guaranteed returns and periodic payouts.
What Is LIC Bima Shree Plan 848?
LIC Bima Shree Plan 848 is a non-linked, with-profits money-back life insurance policy designed for individuals who want both long-term financial protection and periodic cash benefits during the policy term.
The plan falls under the category of limited premium payment money-back insurance plans. This means policyholders are required to pay premiums only for a limited duration, while the policy benefits continue for a longer term.
Under this policy, the policyholder receives:
- Survival benefits at specified intervals
- Life insurance protection during the policy term
- Lump sum maturity benefits at policy completion
The plan is generally considered suitable for high-net-worth individuals looking for:
- Guaranteed additions
- Loyalty additions
- Flexible premium payment options
- Long-term wealth planning with insurance protection
Major Features of LIC Bima Shree Plan 848
Understanding the main features of LIC Bima Shree Plan 848 helps policyholders evaluate whether the policy aligns with their financial goals.
Minimum Sum Assured
- Minimum Basic Sum Assured: ₹10,00,000
- Available in multiples of ₹1,00,000
Policy Term Options
The plan offers multiple policy duration choices:
- 14 years
- 16 years
- 18 years
- 20 years
Limited Premium Payment Structure
The premium payment term is always four years shorter than the selected policy term.
For example:
- A 16-year policy requires premium payment for only 12 years.
Guaranteed Additions
The policy offers guaranteed additions to increase overall policy value:
- ₹50 per ₹1,000 Sum Assured annually during the first 5 years
- ₹55 per ₹1,000 Sum Assured for the remaining premium-paying term
Loyalty Additions
The plan may also provide loyalty additions payable:
- At policy maturity, or
- In case of death after completion of 5 policy years
Money-Back Survival Benefits
Periodic survival benefits are paid at specified intervals during the policy term, helping provide liquidity and financial flexibility.
Flexible Premium Payment Modes
Policyholders can choose from:
- Yearly
- Half-yearly
- Quarterly
- Monthly premium modes
Rebates may also apply for yearly and half-yearly premium payment options.
Optional Rider Benefits
Additional riders available under the plan include:
- Accident Death & Disability Benefit Rider
- Accident Benefit Rider
- Term Assurance Rider
- Critical Illness Rider
- Premium Waiver Rider (especially useful for minor lives)
Tax Benefits
The policy may qualify for tax advantages under prevailing tax laws:
- Premiums paid may be eligible for deduction under Section 80C
- Maturity and death benefits may qualify for exemption under Section 10(10D) subject to applicable rules
These features make LIC Bima Shree Plan 848 a comprehensive insurance and savings solution for individuals seeking financial protection along with guaranteed long-term benefits.
Benefits of LIC Bima Shree Plan 848
LIC Bima Shree Plan 848 offers a balanced combination of insurance protection, guaranteed returns, periodic payouts, and bonus benefits for long-term financial planning.
Money-Back Survival Benefits
During the policy term, the policyholder receives guaranteed money-back payouts at specific policy years based on the selected policy duration.
Survival Benefit Structure
| Policy Term | 1st Money Back | 2nd Money Back | Maturity Benefit |
|---|---|---|---|
| 14 Years | 30% of SA in 10th year | 30% of SA in 12th year | 40% SA + Guaranteed Additions + Loyalty Addition |
| 16 Years | 35% of SA in 12th year | 35% of SA in 14th year | 30% SA + GA + LA |
| 18 Years | 40% of SA in 14th year | 40% of SA in 16th year | 20% SA + GA + LA |
| 20 Years | 45% of SA in 16th year | 45% of SA in 18th year | 10% SA + GA + LA |
SA = Sum Assured, GA = Guaranteed Additions, LA = Loyalty Additions
These periodic payouts help improve liquidity during important financial stages of life.
Death Benefits and Insurance Protection
Death During First 5 Years
If the policyholder passes away during the first five years, the nominee generally receives:
- 125% of the Basic Sum Assured
- Guaranteed Additions at ₹50 per ₹1,000 Sum Assured annually
Death After 5 Years
If death occurs after completion of five years but before maturity, the nominee receives:
- 125% of the Basic Sum Assured
- Guaranteed Additions at higher applicable rates
- Loyalty Additions
This structure provides stronger financial protection for the policyholder’s family.
Guaranteed Additions and Loyalty Additions
Guaranteed Additions
Guaranteed additions continue accumulating every year during the premium-paying term and help increase the overall maturity and death benefits.
Loyalty Additions
Loyalty additions are bonus benefits declared by Life Insurance Corporation of India and become payable after completion of five policy years, subject to policy conditions.
Eligibility Criteria for LIC Bima Shree Plan 848
| Criteria | Minimum | Maximum |
|---|---|---|
| Entry Age | 8 years completed | 55 years (14-year term), 51 years (16-year term), 48 years (18-year term), 45 years (20-year term) |
| Sum Assured | ₹10 lakh | No limit |
| Policy Term | — | 14, 16, 18, or 20 years |
| Premium Paying Term | — | Policy term minus 4 years |
| Maturity Age | — | 65–69 years depending on policy term |
How to Use LIC Bima Shree Plan 848 Calculator
The LIC Bima Shree Plan 848 Calculator helps estimate premium amounts, survival benefits, maturity value, and insurance coverage based on individual policy details.
Steps to Use the Calculator
Step 1: Enter Your Age
Provide your entry age according to the selected policy term eligibility.
Step 2: Choose the Policy Term
Select one of the available policy terms:
- 14 years
- 16 years
- 18 years
- 20 years
Step 3: Enter Desired Sum Assured
Input the preferred sum assured amount, starting from ₹10 lakh.
Step 4: Select Premium Payment Frequency
Choose:
- Yearly
- Half-yearly
- Quarterly
- Monthly
Step 5: Add Optional Riders
Select additional riders if enhanced coverage is required.
Step 6: Calculate Policy Benefits
The calculator displays:
- Premium payable
- Survival benefit payouts
- Maturity value
- Death benefits
This helps policyholders compare policy options and plan finances more efficiently.
Example of LIC Bima Shree Plan 848 Calculation
Suppose a 25-year-old individual chooses:
- Policy Term: 20 years
- Premium Paying Term: 16 years
- Sum Assured: ₹15,00,000
Estimated Policy Benefits
- Guaranteed additions at ₹50 per ₹1,000 Sum Assured for the first 5 years
- Higher guaranteed additions afterward during the remaining premium-paying period
- Survival benefits of 45% of the sum assured during the 16th and 18th years
- Maturity payout including 10% of the Sum Assured along with guaranteed additions and loyalty bonuses
The exact premium amount depends on the selected premium payment mode and applicable taxes.
Why Choose LIC Bima Shree Plan 848?
Major Advantages
- Guaranteed returns with life insurance protection
- Periodic money-back payouts during the policy term
- Flexible policy and premium payment options
- Loyalty additions that improve overall returns
- Loan facility availability after the first policy year
- Multiple rider options for enhanced protection
- Tax-saving benefits under prevailing tax laws
- Paid-up value available after payment of two years’ premiums
Important Points to Remember
Before purchasing the policy, consider the following:
- Maximum entry age depends on the selected policy term
- Premium-paying term is always four years shorter than the policy term
- Premium rebates apply mainly to yearly and half-yearly payment modes
- Death benefit protection is comparatively higher than many traditional money-back plans
- Survival benefits may be deferred according to policyholder preference
- Always use official LIC calculators or trusted insurance tools for accurate premium and benefit estimates
How to Purchase LIC Bima Shree Plan 848
The policy can generally be purchased through:
- LIC branch offices
- Official LIC website
- LIC agents and authorised advisors
Basic Purchase Process
- Use the LIC Bima Shree Plan 848 Calculator to estimate benefits
- Fill out the proposal form
- Submit personal, nominee, and medical details
- Select riders if required
- Pay the initial premium amount
A medical examination may be required depending on age and selected sum assured.
Frequently Asked Questions About LIC Bima Shree Plan 848
What Is LIC Bima Shree Plan 848?
LIC Bima Shree Plan 848 is a money-back life insurance policy offered by Life Insurance Corporation of India that provides guaranteed additions, survival benefits, maturity payouts, and life insurance protection.
What Is the Premium Paying Term Under This Policy?
The premium-paying term is always four years shorter than the selected policy duration.
What Are Guaranteed Additions in LIC Bima Shree Plan 848?
The policy provides guaranteed additions of:
- ₹50 per ₹1,000 Sum Assured during the first 5 policy years
- ₹55 per ₹1,000 Sum Assured during the remaining premium-paying term
What Money-Back Benefits Does the Plan Offer?
The policy provides two survival benefit payouts during the policy term along with a maturity benefit at the end of the policy duration.
What Happens If the Policyholder Dies During the Policy Term?
In case of the policyholder’s death, the nominee generally receives:
- 125% of the Basic Sum Assured
- Guaranteed Additions
- Loyalty Additions (subject to policy conditions)
Final Conclusion
LIC Bima Shree Plan 848 is considered a strong combination of insurance protection and guaranteed savings benefits for individuals seeking long-term financial security. Features such as guaranteed additions, loyalty benefits, periodic money-back payouts, and flexible premium payment options make the policy attractive for wealth planning and family protection.
Additionally, the LIC Bima Shree Plan 848 Calculator helps users estimate premiums, maturity value, survival benefits, and death coverage with greater transparency. This allows policyholders to plan investments more accurately and make informed financial decisions according to their future goals.
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