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BIMA DIAMOND PLAN (Plan no. 841)
This is a Money back policy with Limited premium payment,
Non-linked, Conventional, with-profits plan.
Money Back is paid every 4th year.
| Eligibility Conditions & Restrictions | ||
|---|---|---|
| Minimum age | : | 14 years (Completed) |
| Maximum age | : |
50 years for 16 years policy term 45 years for 20 years policy term 41 years for 24 years policy term |
| Maximum maturity age | : |
66 years for 16 years policy term 65 years for 20 years policy term 65 years for 24 years policy term |
| Policy Term | : | 16 years / 20 years / 24 years |
| Premium paying term | : |
10 years for 16 years policy term 12 years for 20 years policy term 15 years for 24 years policy term |
| Minimum Sum Assured | : | Rs. 1,00,000 |
| Maximum Sum Assured | : | No limit |
| Premium payment | : | Yearly / Half yearly / Quarterly / Monthly (Thru Bank) |
| Loan | : | Eligible after 3rd year |
| Surrender | : | Eligible after 3rd year |
| Money Back is paid | : |
(a) For Policy term 16 years : 15 % of Sum Assured at end of
4th, 8th & 12th policy year (b) For Policy term 20 years : 15 % of Sum Assured at end of 4th , 8th, 12th & 16th policy year (c) For Policy term 24 years : 12 % of Sum Assured at end of 4th, 8th, 12th, 16th & 20th policy year |
| On Maturity | : |
55% of Sum Assured for policy term 16 years + Loyalty
addition 40% of Sum Assured for policy term 20 years + Loyalty addition 40% of Sum Assured for policy term 24 years + Loyalty addition |
| After Maturity | : | Extended Risk cover for 50% of the Sum Assured & Half of the Policy term |
| On Death | : |
Sum Assured (1st five years) Sum Assured + Loyalty addition (After 5 years) (Already paid Money back will not be deducted) |
| Income Tax Benefits | : |
(i) Premiums paid are eligible for Tax rebate u/s 80c (ii) Maturity amount / Death claim is non-taxable u/s 10(10d) |
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