Bima Kiran Policy

Bima Kiran Policy from LIC is a first-class term assurance policy that offers financial safety against demise throughout the period of the policy along with a returns 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, surrender value, and other benefits.

What is LIC Bima Kiran Policy?

bima kiran policy

LIC Bima Kiran policy (table 150) is a premium back term insurance plan which offers financial security in case of death during the term of the policies 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.

What Does The Plan Offer?

What Does The Plan Offer

Bima Kiran policy lic (table 150) 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 policy continued as on the date of demise.

Lic Bima Kiran Policy 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 Bima Kiran Plan:

  • Free insurance cover for a period of 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 Policy


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

benefits 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 Policy 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 times of the grace period and when premiums of 5 full years were paid and 5 years was 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 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 cover will be rewarded as a death claim.

Extended Period Cover

Extended-term cover (benefit without an accident) will be available for a period of 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 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 policy from LIC Double Accident Benefit is obtainable. It’s in-built in 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.

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