Following premiums are sample and calculated as per parameters given in first table. Please use above calculator to calculate premiums and benefits as per your AGE, TERM and SUM ASSURED (SA).
| LIC Bima Diamond Plan (841) Sample Calculation | |||
|---|---|---|---|
| Sum Assured | 500000 | Age | 22 |
| Policy Term | 24 | Premium Paying Term (PPT) | 15 |
| Accidental Death & Disability Benefit (AD & DB) Rider | No | ||
| First Year Premium | ||||
|---|---|---|---|---|
| Mode | Premium | GST ( @4.5 % ) | Total Premium | |
| Yearly | 28023 | 1261 | 29284 | |
| Half Yearly | 14162 | 637 | 14799 | |
| Quarterly | 7156 | 322 | 7478 | |
| Monthly | 2385 | 107 | 2492 | |
| Second Year Onward Premium | ||||
|---|---|---|---|---|
| Mode | Premium | GST ( @2.25 % ) | Total Premium | |
| Yearly | 28023 | 631 | 28654 | |
| Half Yearly | 14162 | 319 | 14481 | |
| Quarterly | 7156 | 161 | 7317 | |
| Monthly | 2385 | 54 | 2439 | |
| Benefits Details | |
|---|---|
| Total Premium Paid (Approx) | 439260 |
| Minimum Risk Cover | 500000 |
| Money Backs & Maturity Details | ||
|---|---|---|
| At the End of 4th Policy Year | 60000 | Money Back: 1 (12% of SA) |
| At the End of 8th Policy Year | 60000 | Money Back: 2 (12% of SA) |
| At the End of 12th Policy Year | 60000 | Money Back: 3 (12% of SA) |
| At the End of 16th Policy Year | 60000 | Money Back: 4 (12% of SA) |
| At the End of 20th Policy Year | 60000 | Money Back: 5 (12% of SA) |
| At the End of 24th Year | 200000 + LA | Maturity (40% of SA + Loyalty Addition) |