LIC's New Plan Bima Diamond (Plan No. 841)

This year from 01/09/2016 Life Insurance Corporation of India (LIC) is celebrated it’s Diamond Jubilee year. On this occasion, LIC had launched plan “Bima Diamond” Table No. 841. This policy is available for sale up to 31 August 2017. LIC’s Bima Diamond is a Non-linked, with profits,  limited premium payment money back plan. It provided money back at an interval of every 4th year. LIC’s Bima Diamond provided extended life cover up to the half of the policy term after the completion of the policy term. Unique Identification of LIC’s Bima Diamond Plan is 512N307V01.

हिन्दी में पढें: एलआईसी की नयी योजना बीमा डायमंंड (प्लान न. 841)

Auto Cover in LIC’s Bima Diamond

“Auto Cover period” in a paid-up policy will be the period from the due date of first unpaid premium (FUP), which includes the grace period. “Auto Cover period” is the period during which full risk cover is available for the life assured even if the regular premium is not paid during this period.  The duration of “Auto Cover period” will be available as follows:

  1. If at least three full years’ but less than five full years’ premium have been paid and any subsequent premium is not duly paid: “Auto Cover period” of six months from the due date of the first unpaid premium will be available
  2. If at least five full years’ premium have been paid and any subsequent premium is not duly paid: “Auto Cover period” of 2 years from the due date of the first unpaid premium will be available

Eligibility Conditions and Restrictions in LIC’s Bima Diamond


Benefits in LIC’s Bima Diamond

Benefits which are payable in inforce LIC’s Bima Diamond Policy are

Death Benefits in LIC’s Bima Diamond

In case of the death of Life Assured before the date of Maturity

During the first 5 policy years “Sum Assured on Death” will be paid to the nominee.

After completion of 5 policy years but before the date of maturity: “Sum Assured on Death” and Loyalty addition (if any) will be paid to the nominee of the Life Assured.

The death benefit will not be less than the 105% of all the premium paid in the policy as at the date of death of the life assured. (The premium referred above will not include any taxes, extra amount charged due to underwriting decision and rider premium, if any.)

In case of the death of Life Assured during the extended cover period

An amount equal to 50% of Basic sum assured will be paid to the nominee.

Survival Benefits in LIC’s Bima Diamond

If life assured survives to the specified duration during the policy term, then a fixed percentage of Basic Sum Assured is  will be payable to the life assured. The fixed percentage in various terms are mentioned below:


Maturity Benefits in LIC’s Bima Diamond

If the Life Assured survives till the end of the policy term, “Sum Assured on Maturity” along with Loyalty Addition, if any will be payable to the Life Assured.

Where “Sum Assured on Maturity” in LIC Bima Diamond is

55% of Basic Sum Assured in policy term 16 years

40% of Basic Sum Assured in Policy terms 20 and 24 years.

Optional Benefits in LIC’s Bima Diamond

Proposer can opt for the optional riders by payment of additional premium. Benefits under the optional rider will be available during the policy term only.

LIC’s Accidental Death and Disability Benefit Rider UIN (512B209V01)

If this benefit is opted for, an additional amount equal to “Accidental Benefit sum Assured” is Payable on death due to Accident, provided the rider is inforce at the time of the accident. In the case of the accidental permanent disability (within 180 days from the date of accident) an additional amount equal to “Accidental Benefit sum Assured” is Payable in equal monthly installments spread over 10 years. The future premium will be waived for the accidental benefit rider and premiums for the portion of Basic sum assured will be waived. This rider can be taken at the inception of the policy or before the premium term is over.

LIC’s New Term Assurance Rider UIN (512B210V01)

If this benefit is opted for, an additional amount equal to “Term Assurance Rider sum Assured” is Payable on death to nominee, provided the rider is inforce at the time of the death of the Life Assured. This rider can be taken at the inception of the policy.

Rebates in LIC’s Bima Diamond

Following rebates to proposer is available on the premium if he/she opts for the higher mode and take the high-risk cover policy. Rebales available in LIC’s Bima Diamond are as follows:


Other Important features and condition in LIC’s Bima Diamond

  1. Loan facility is available in this plan, after the payment of premium for at least full 3 years.
  2. Policy can be revived within the 2 years of the FUP.
  3. Grace period in the policy is available; one calendar month, not less than 30 days in yearly, half yearly and quarterly mode and 15 days in monthly mode.
  4. The policy will acquire paid up value if the premium has been paid for 3 full years.
  5. Policy can be surrender after the 3 years if at least 3 full year premium is already paid.
  6. Free look period of 15 days from the date of receipt of the policy bond.
  7. Backdating is allowed within the same financial year.
  8. Nomination and Assignment are allowed in the policy.

Premium Rates in the LIC’s Bima-Diamond Policy

55 thoughts to “LIC's New Plan Bima Diamond (Plan No. 841)”

    1. Respected Sir,you are not eligible for this plan.Maximum age limit for this plan is Age 50. Hence you can take other plan which is suitable for your age. You can contant me at cell no.9840876199/my email: [email protected].

  1. As per lic act sum assured and bonus are guaranteed. What about loyalty addition. kindly reply.

  2. Lics New plan Bima diamond (841) no doubt it is a good money back plan. Premium chart chart is not given so far, what is the use of it?. No premium chart how the agents sell this Bima diamond plan. All the big brass of LIC don’t know this simple thing?. Added to that it is closing ended plan. At least better late than before like that our LIC will shortly announce the premium chart?.

    1. Premium rates are available, please see the link at the bottom of the post. You can also download LICmobile app or some third party apps for your Android mobile some have updated for the this plan.

      1. There are very few plans for higher age group, you can buy any of the limited premium payment plans like Jeevan Labh or Limited Premium Endowment plan which have long risk cover period and less premium payment term. Such plans provide both saving and security. You can also buy term plan for higher risk cover in less premium.


  4. Indha (This) Policy Super policy, Indha Policy Best Policy, Indha Policy Top Policy, Indha policy Value for Money Policy !

  5. Hi
    I have a question:
    I wish to buy a Term Plan for myself. As per the current news, GST is supposed to be rolled out from April, 2017.
    I have already completed Section-80C investments for Income Tax Purpose for this year, so want to go for new Term Plan in next year April so that I can claim its rebate under 80C.
    My question is what will be the implication on Total Premium outgo in terms of Service Tax/ GST if I purchase now or in April, 2017. If I purchase now, will GST still affect my Premium outgo next year onwards if it gets rolled out in April, 2017.
    Please suggest what will be the better time to purchase new plan.

    1. Tax on insurance premium always changes with the change in the rate of service tax. So, if you buy now or later your premium will change according to the new rules of service tax. By the way, if you are planning to buy a term plan then buy it immediately because premium you pay next year will always be more compare to premium you pay now because premium is less in lower age and more in higher age and secondly risk cover on your life will start immediately.

  6. Dear Pawan Sir,
    I had taken a policy in year 2003, Plan term was 75/20. The policy will mature in 2023. Will the Dimond Jubilee Reversionary bonus declared by LIC recently added to my Vested Bonus…….? Please guide me in this regard.


    1. if mutual fund returns are so lucrative why 26 crore indian investor tag their saving in LIC ???

  8. respected sir,
    iam tk manikanta working as engineer i want lic policy my age 24 which is the best policy please can u suggest me

  9. LIC have many plans Jeevan Ananad, Jeevan Labh and Bima Diamond Plan thease plans are very much suitable for savings, Investment, and Protection. This is depend on you which policy you like to take.
    Please contact to get LIC policies in MUMBAI Ghatkopar region.
    Dharmendra Bharti
    LIC of India and Income tax return

  10. sir bimadiamond superb plan. i have sold nearly 5.on launching day 1st in sat office.just for information.cliant have lote of j.arulmozhi

  11. very useful matter of LIC plans.but it is amazing that you hav such a wonderful presentation of only LIC and not another 25 Life ins companies

  12. hiiii all my friends
    i am insurance advisor in LIC of India
    i will help any work about LIC pls contact my cell urgent 9167378026 and whatsapp no 7506055507 i will help u

  13. Life insurance corporation (LIC) is the largest insurance company in India fully ownverd by the government this financial year 2016-2017 teck lic new policy and save tax under both and maturity clam tax free returns
    pramod tiwari
    Lic of India (unit 310)
    86 janpath new Delhi 110001

  14. Dear
    sir any problems and any query regarding lic policy so please call me or visit nearby lic branch office please don t’ by shear any details any one proson an phon call
    f you want to know more about the policies offered by LIC, simply dial 1251 from your landline (BSNL/MTNL) number.
    Mobile phone users should prefix the STD number of their city. If you have a query or complaint related to your policy, then you may call the all India
    To know Policy details through IVRS, simply dial 1251 available 24×7 in the following cities
    LIC Customer Care Toll Free Number : LIC Helpline Number
    LIC toll free numbers 1800-33-4433 or 1800-22-4077. Alternatively you can call the regional customer service number for LIC office in your city
    I have provided regional customer care numbers for some of the main cities in India
    LIC of India Contact Number
    LIC Customer Care Toll Free Number: 1800-33-4433, 1800-22-4077
    LIC Policies Enquiry Number: 1251 (detailed info. 24X7)
    LIC customer care number Delhi:
    011-28844132 | 011-28822223 | 011-28855115
    LIC Helpline Number Mumbai:
    022-22028225 / 022-66599066 |
    022-24010375 / 022-30492020 |
    022-67819220 | 022-66599233
    Open : Mon to Fri 8.00 am to 8.00 pm
    Sat 10.00 am to 6.00 pm
    Regional LIC Customer Care Numbers
    Delhi :- 011-23762681
    Kolkata :- 033-23346688
    Hyderabad :- 040-23437997
    Bengaluru :- 080-26659230
    Mumbai :- 022-26137545
    Pune :- 020-25514248
    Chennai :- 044-25300030
    LIC Central Zone Office Number
    BHOPAL : – 0755-2676254
    BILASPUR : – 07752-2203732
    GWALIOR : – 0751-2448606
    INDORE : – 0731-2523513
    JABALPUR : – 0761-2671079
    RAIPUR : – 0771-2583062
    SATNA : – 07672-228100
    SHAHDOL : – 07652-248469
    LIC Central Office Contact Details
    Address: Life Insurance Corporation of India , 2nd Floor, Jeevan Bima Marg
    Mumbai – 400021, India
    Contact Number: 022- 22028227
    Email: [email protected]
    Official Website LIC of India: –
    Should you have any comments or queries please do not hesitates to contact.
    Thanks and regards
    Senior Insurance Advisor (Lic of india)
    Branch Office: 310, Oriental Annexe 1st and 2nd floor, 86, Janpath, New Delhi – 110001
    Satellite Office: 310 (SO), Plot No. 32, DDA Community Centre, Rani Bagh (Behind M2K Pitam Pura), Delhi – 110034
    Email [email protected]

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