LIC Bima Shree Plan-948 Premium Calculator

LIC Bima Shree Plan 948 is a non-linked, limited premium payment plan from LIC (Life Insurance Corporation of India). This plan combines life insurance coverage with savings, offering both a guaranteed payout for financial security and periodic cash returns. Here’s a quick look at its features:

• Protection with Savings: Offers life coverage and maturity benefits.
• Affordable Premiums: Provides a maturity benefit of ₹22.45 lakhs for about ₹198 per day.
• Minimum Coverage: Requires a basic sum assured of ₹10 lakhs.

What is LIC Bima Shree Plan-948?

LIC Bima Shree Plan-948 is a life insurance plan that combines protection and savings. Designed by LIC, this plan allows policyholders to pay premiums for a limited period, such as 14, 16, or 18 years, while receiving coverage for the full policy term. After the premium term ends, the policy remains active, providing life coverage until the end of the term.

• Guaranteed Sum Assured: Ensures a minimum payout of ₹10 lakhs to support the family financially if the policyholder passes away.
• Money-Back Benefits: Pays a percentage of the sum assured at intervals during the policy, helping meet financial needs.
• Maturity Benefit: At the end of the policy term, the policyholder receives the remaining sum assured along with bonuses if they survive the term.

Additional Features

The plan includes bonuses, adding value to the policy and increasing overall returns. It also offers optional riders like the Accidental Death Benefit rider for extra coverage in case of accidental death and a Critical Illness rider, providing a lump sum if diagnosed with a critical illness.

How to Use the Bima Shree Premium Calculator

Here’s how to calculate premiums for LIC Bima Shree Plan:

1. Visit the calculator: LIC Bima Shree Premium Calculator
2. Select “Bima Shree (Table – 948 Plan)”
3. Enter your age
4. Choose the policy term (14 to 20 years)
5. Enter the sum assured
6. Select optional riders (e.g., Accidental Benefit Rider)
7. Click “Calculate” to see the premium

FAQs on LIC Bima Shree Plan-948

• What is LIC Bima Shree Plan 948?

It’s a life insurance plan with limited premium payments, providing both coverage and money-back benefits. You can get a maturity amount of ₹22.45 lakhs with a daily premium of around ₹198.

• How long is the premium payment term?

The premium payment term varies with options like 14, 16, or 18 years.

• What happens after the premium payment term ends?

The policy continues to provide coverage until the policy term ends.

• What is the minimum coverage amount?

The minimum guaranteed sum assured is ₹10 lakhs.

• Does the plan offer additional benefits?

Yes, it includes periodic money-back benefits, a maturity benefit, regular bonuses, and optional riders for additional coverage.

Conclusion

LIC Bima Shree Plan-948 is a solid choice for those seeking life coverage with added savings. With limited premium payments, guaranteed benefits, and optional riders, it provides financial security and regular returns, making it a reliable insurance plan for both protection and savings.