Bima Kiran Policy

Bima Kiran Policy from LIC is a first-class term assurance policy that offers financial safety against demise throughout the policy along with a return amount of premiums rewarded at maturity. Its features and advantages are the main facts of the scheme. Understand the details of this life insurance, Maturity Benefit, Death Benefit, special surrender value, and other benefits.

What is LIC Bima Kiran Policy?

LIC Bima Kiran Plan (table 150) is a premium back term insurance plan which offers financial security in case of death during the term of the policy and pays back the premium paid at maturity.

Although LIC calls it a term plan, but because it also offers maturity benefits and fixes the loyalty bonus, we can call it a mixed form of term and endowment policies. Here are a few key elements of this plan

  1. Basic premiums paid excluding can be yearly, quarterly, and half-yearly throughout the policy term.
  2. Rider Benefit is also available in this plan
  3. Maximum Risk coverage is up to INR 10 lacs with the lowest premium.
  4. The death benefit is available for the unfortunate death that occurs
  5. Only free insurance cover is available after 10 years which is the maturity period
  6. The term of the plan is 25 years
  7. Free Risk Cover (based on term) for 10 years after maturity.
  8. Double Accident Benefit is also available. It’s inbuilt into installment premium & exclusive of the maximum limit
  9. The assured surrender value of this plan is 30% of your basic premiums paid excluding the very first year’s premium.

What Does The Plan Offer?

Bima Kiran plan is lic (table 150) and offers a built-in benefit for accidents, free insurance coverage after maturity of the policy, and also added together with a lower premium rate with high-risk coverage.

As it’s a Term assurance policy, the individual the sum assured gets paid as the death claim, in case the policy continued as on the date of demise.

Lic Bima Kiran Plan also provides rebates in two categories.

  • Mode rebate
  • Sum assured rebate

Mode rebate

Mode Percentage (%)
Yearly 3%
Half-yearly 1.5%
Quarterly No Rebate
SSS except for Monthly No Rebate

Sum assured rebate

Provides Sum Assured but not a sum assured rebate.

Salient Features Of the Bima Kiran Plan:

  • Free insurance coverage for 10 years after maturity.
  • Maximum risk cover with minimum premium (up to 10 lakhs).
  • Returns of premium at maturity.
  • Built-in accident benefits (limited to 5 lakhs) and loyalty additions.
  • Free risk cover for 10 years of maturity (based on duration).

Terms & Conditions Of LIC Bima Kiran Plan


18 or above 35 years


15 years 30 years


INR 50,000 & in multiples of INR 10000 INR 3,00,000


NIL 60 years


Yearly Half-yearly Quarterly SSS except for Monthly

Loyalty Bonus Of Bima Kiran Plan

This is a profit-making plan. The policy gets a portion of the profit in the form of a bonus. Such bonuses will be paid in addition to Death Benefit or Maturity Benefit provided the policy is in force and all premiums have been paid. It also provides surrender value.

Death Benefit Of Bima Kiran Plan

The death benefits of the Bima Kiran Plan depend on several factors. If the policyholder dies within the grace period and the term assurance plan is in full force and doesn’t surrender in that case,

Death claim = Loyalty addition + Sum assured

In case the policyholder dies after some time of the grace period and when premiums of 5 full years were paid and 5 years were done as on the death date, in that case, the following happens

Death claim = The Total premiums paid – The Total additional premiums paid

In case the policy view gets lapsed and in case the policyholder dies within 5 years in that case,

Nothing is payable

If the policyholder dies after giving the free life insurance cover, then within 10 years of the maturity date in that case,

Only free insurance coverage will be rewarded as a death claim.

Extended Period Cover

Extended-term cover (benefit without an accident) will be available for 10 years after the expiry of the term of the lic policy. This cover can range from 20% to 60% of the sum insured as per the term of life insurance and guaranteed surrender value.

Maturity Benefit

Here you will see how much will I get after the maturity LIC policy. An amount equal to the total amount of premium paid (including accident benefits) will be paid to the life insured at maturity. However, In case the policyholder survives till the end of the term assurance plan of LIC and completes all premiums in that case,

Maturity claim = The total premiums paid throughout the policy term – loyalty addition + additional premium

In case premiums paid have not been completed throughout the last term year, then the term was in force for the sum assured then you will get the following on maturity date,

Maturity claim = Full sum assured of the policy + guaranteed add-ons + bonus interest (if any) + reversionary– Unpaid payments of policy premiums with its interest

Accident Benefit

In Bima Kiran plan from LIC Double Accident Benefit is obtainable. It’s in-built into premium paid and also exclusive of the extreme limit of the Double Accident Benefit.

The scheme of lic has an underlying accident benefits cover which can be a maximum of Rs.5,00,000 and is payable in case of accidental death or permanent disability due to an accident.


If policies in the LIC Bima Kiran insurance lapse because premium payments stop within the grace period, they may be reinstated within six months of the FUP’s due date by making interest-bearing premium payments. No supporting medical data are needed.


So, by this point, everyone among you is familiar with every last detail of this bima. Now it’s up to you all to choose whether or not this Bima is what you require. Please share any questions or concerns about this policy in the comment box.


Q. What is the maturity value of the Bima Kiran Plan?

A. If the policyholder lives to the end of the policy term, they will receive payment for all of their premiums (including accident benefit premiums but excluding other extras), up to and including that point.

Following the term’s completion, an extended-term cover (accident benefit not included) will be offered for a subsequent 10-year period on the following hierarchy:

  • 20% of the Sum Assured for 10 to 14 years
  • 30% of the Sum Assured for 15 to 19 years
  • 40% of the Sum Assured for 20 to 24 years
  • 50% of the Sum Assured for 25 o 29 years
  • 60% of the Sum Assured on 30 years

Q. What is Bima Kiran Plan 111?

A. The LIC Bima Kiran insurance is a premium term assurance insurance that provides death benefits during the policy’s duration as well as a refund of premiums paid at maturity. The primary facts of the system are its benefits and qualities.

Q. What is Bima Ratna’s policy by LIC of India?

A. A policyholder is entitled to an Rs. 50 bonus under this policy for the first five years on every Rs. 1000 in basic sum assured. On every INR 1000 basic sum assured, the person receives a Rs 55 bonus from the sixth to the tenth year and a Rs 60 bonus from the eleventh to the twenty-fifth years.

Q. What is Bima Gold’s policy?

A. A classic money-back policy that provides money-back benefits regularly is called LIC Bima Gold. As a result, the policy offers liquidity via money-back benefits that assist you in meeting your financial obligations. The program also gives loyalty bonuses, which contribute to increasing the benefit you receive.

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