LIC Bima Ratna Plan

Sample Premiums for this plan
Healthy | Non-tobacco user | Male | Policy Term = 15 years | Premium Payment Term = 11 years
20 Lakhs Cover
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Accidental Death Benefit

LIC Bima Ratna is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan which offers a combination of protection and savings. This plan provides financial support for the family in case of the unfortunate death of the policyholder during the policy term. It also provides periodical payments at specified durations to meet the various financial needs of the policyholder.

Launch Date27th May 2022
Table Number864
Product TypeEndowment

Compare this plan with other Investment Plans

LIC Bima Ratna Plan - Key Features

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The plan participates in bonus declarations which enhance the benefits payable.

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The plan provides an additional Accidental Death and Disability Benefit Rider which provides an additional benefit in case of accidental death or d...

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Loans can be taken under the plan if the plan acquires a Surrender Value.

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Rebates in premiums are allowed for choosing a high level of Sum Assured and also for paying premiums annually or semi-annually.

LIC Bima Ratna Plan - Benefits

Maturity Benefit

On Life Assured surviving the stipulated Date of Maturity provided the policy is in force, “Sum Assured on Maturity” along with accrued Guaranteed ...

Death Benefit

Death Benefit payable on the death of Life Assured during the policy term after the date of commencement of risk shall be “Sum Assured on Death” al...

Survival Benefit

On the life assured surviving till each of the specified duration during the policy term, a fixed percentage of Basic Sum Assured shall be payable....


Guaranteed Additions (GA) shall accrue at the end of the each Policy Year at the rate as specified below:


How LIC Bima Ratna Plan works

The policyholder chooses the Sum Assured and the Term of the plan when buying the policy. Based on the Age of the insured, the Sum Assured and the Policy Term selected, the Premium is determined.

If the insured survives till the end of the policy term and all premiums have been paid, a Maturity Benefit would be paid to the policyholder. Maturity benefit would be equal to the Sum Assured + Bonus Amounts which have been received throughout the policy term + any Final Addition Bonus if declared. Now if the death of the insured occurs during the policy tenure, the nominee will get ‘Sum assured on death’ with Accrued Guaranteed Additions. Where “Sum Assured on Death” is defined as the higher of 125% of Basic Sum Assured or 7 times of annualized premium.

We will explain the plan with the help of an example.

Example – Yash, aged 30 years, buys LIC Bima Ratna Plan.
Sum Assured = Rs. 20 lakhs
Policy term = 25 years
Premium Paying Term = 21 years
Year of Purchase = 2022
Annual Premium = Rs. 1,16,178 + 4.5% GST

The premium would be payable for a duration of 21 years.

Scenario 1 – Yash survives till the end of the policy tenure.

Total Premium Paid in 21 years = Rs. 1,16,178 x 21 = Rs. 24,39,738

The Guaranteed Additions which he will receive:

Policy Year Guaranteed Addition
1 - 5 5 lakhs
6 - 10 5.5 lakhs
11 - 25 18 lakhs
Total 28.5 lakhs


The Survival Benefits he will receive:

Policy Year Money-Back
23 5 lakhs
24 5 lakhs
Total 10 lakhs

So Total Benefits in the policy = Rs. 28.5 + 10 lakhs = 38.5 lakhs


Scenario 2 – Yash dies during the policy term.

If Yash dies in the year 2035 (at age 43), then by that time,
Total premium paid = 13 x Annual Premium = Rs. 15,10,314

The nominee will get 125% of Sum Assured + Guaranteed Addition Bonus which is added every year.
Death Benefit = 125% of 20 Lakhs + (1 Lakh for 5 years) + (1.1 Lakh for 5 years) + (1.2 Lakhs for 3 years) = Rs. 39,10,000

LIC Bima Ratna Plan - Surrender Value

Paid-up Value

If the policyholder has paid the first two years’ premiums and future premiums have not been paid, the policy becomes a paid-up policy. The Basic S...

Surrender Value

If the policyholder wants, he can surrender his policy and avail the Surrender Value. The policy acquires a Surrender Value only if the first two y...

LIC Bima Ratna Plan - FAQs

angle right iconWhat type of bonus is declared under the policy?

The plan pays Guaranteed Additions i.e. a fixed amount of bonus is added to the sum assured every year.

angle right iconAre riders available under the plan?

You have the choice of taking the following rider by paying an extra premium amount:

  • LIC’s Accidental Death and Disability Benefit Rider (UIN: 512B209V02)
  • LIC’s Accident Benefit Rider (UIN:512B203V03)
  • LIC’s New Term Assurance Rider (UIN: 512B210V01)
  • LIC’s New Critical Illness Benefit Rider (UIN: 512A212V02)
  • LIC’s Premium Waiver Benefit Rider (UIN: 512B204V03)
angle right iconAre there any rebates on the premium?
Mode Rebate
Yearly mode 2% of Tabular Premium
Half-yearly mode 1% of Tabular premium
Quarterly, Monthly (NACH) & Salary deduction NIL


Basic Sum Assured (BSA) Rebate on tabular premium
5,00,000 to 9,75,000 NIL
10,00,000 to 14,75,000 0.50
15,00,000 to 19,75,000 1.00
20,00,000 and above 1.25
angle right iconDoes the plan provide a loan facility?

Yes, policyholders can avail of a loan under the plan if they have paid at least the first 2 years’ premiums and the plan has acquired a Surrender Value.

angle right iconHow much is the revival period?

You can revive your lapsed policy within 5 years of the last paid premium