Life insurance is an important financial tool that helps protect families from uncertainties. LIC, the largest insurance provider in India, offers various life insurance plans. One such plan is the LIC Bima Shree Plan 848, which is designed to combine insurance protection with money-back benefits.

What is LIC Bima Shree Plan 848?

LIC Bima Shree Plan 848 is a non-linked, with-profits money-back life insurance plan. This plan is specially designed for individuals looking for both financial protection and periodic returns during the policy term. It falls under a limited premium payment money-back plan category, which means you pay premiums for a specific period and receive survival benefits during the policy term along with a lump sum maturity amount at the end.

The plan is suited for high net-worth customers looking for reliable guaranteed additions and loyalty benefits, with flexible policy and premium terms.

Key Features of LIC Bima Shree Plan 848

Understanding the key features will help you see why this plan is popular:

• Minimum Sum Assured: Rs. 10,00,000 (Ten Lakh), with increments of Rs.1,00,000.
• Policy Terms: Choose from 14, 16, 18, or 20 years.
• Premium Paying Term: Always 4 years less than the chosen policy term (e.g., 16 years policy term means 12 years premium payment).
• Guaranteed Additions: Rs. 50 per Rs. 1,000 Sum Assured for first 5 years and Rs. 55 for the remaining premium paying term years.
• Loyalty Additions: Extra bonuses paid once, either on maturity or in case of death after completion of 5 years.
• Money Back Benefits: Survival benefits paid at specific intervals during the policy term.
• Flexible Premium Modes: Yearly, half-yearly, quarterly, or monthly with applicable rebates for yearly and half-yearly modes.
• Riders Available: Accident Death & Disability Benefit, Accident Benefit, Term Assurance, Critical Illness Rider, and Premium Waiver Rider (especially for minor policyholders).
• Tax Benefits: Premiums paid enjoy tax deductions under Section 80C, and maturity proceeds are tax-free under Section 10(10D).

Benefits of LIC Bima Shree Plan 848

This policy provides a combination of protection, savings, and bonuses.

Money Back (Survival Benefits)

During the policy term, the policyholder receives guaranteed money-back amounts calculated as a percentage of the sum assured at pre-decided policy years. For example:

Policy Term (Years)	1st Money Back	2nd Money Back	Maturity Payout
14	30% of SA (10th Year)	30% of SA (12th Year)	40% SA + Guaranteed Additions + Loyalty Addition
16	35% of SA (12th Year)	35% of SA (14th Year)	30% SA + GA + LA
18	40% of SA (14th Year)	40% of SA (16th Year)	20% SA + GA + LA
20	45% of SA (16th Year)	45% of SA (18th Year)	10% SA + GA + LA

SA = Sum Assured, GA = Guaranteed Addition, LA = Loyalty Addition.

These returns provide liquidity during the policy term.

Death Benefits and Life Cover

• Death during first 5 years: The nominee gets 125% of the Basic Sum Assured plus Guaranteed Additions at Rs. 50 per 1000 Sum Assured per year.
• Death after 5 years but before maturity: The claim includes 125% of Sum Assured + higher Guaranteed Additions at Rs. 55 per 1000 Sum Assured per year + Loyalty Addition.

This benefit ensures financial protection for family members in case of the policyholder’s untimely demise.

Guaranteed Additions and Loyalty Additions

—Guaranteed Additions accrue yearly during the premium paying term, providing extra value on top of the basic sum assured.

—Loyalty Additions are bonuses declared by LIC and payable only after completion of 5 years, enhancing the maturity or death benefits significantly.

How to Use LIC Bima Shree Plan 848 Calculator

The LIC Bima Shree Plan 848 calculator is an essential tool to help policyholders and interested buyers understand premium amounts, survival benefits, risk covers, and maturity values based on their inputs such as:

• Age at entry
• Policy term
• Sum assured
• Premium payment mode (yearly, half-yearly, etc.)
• Riders opted (if any)

Steps to Use the Calculator

1. Enter your age: Must be between 8 years and an upper limit depending on the policy term (e.g., 45 to 55 years maximum as per term selected).
2. Select policy term: Choose one of the available terms (14, 16, 18, or 20 years).
3. Input desired Sum Assured: Minimum Rs. 10 lakh or more in multiples of Rs. 1 lakh.
4. Select premium payment frequency: Yearly, half-yearly, quarterly, or monthly.
5. Add optional riders: If desired, select riders available for enhanced protection.
6. Calculate: The tool will display yearly premium payable, survival benefit amounts at specified intervals, maturity amount, and death benefits.

This makes it easy to plan finances and make informed decisions.

Example of LIC Bima Shree Plan 848 Calculation

Suppose a 25-year-old individual opts for:

• Policy Term: 20 years
• Premium Paying Term: 16 years
• Sum Assured: Rs. 15,00,000

In this case:

• The guaranteed additions till 5 years will be Rs. 50 per 1000 Sum Assured, and Rs. 55 thereafter.
• Survival benefits of 45% of the sum assured each at the end of 16th and 18th years.
• Final maturity amount includes 10% of Sum Assured plus all guaranteed additions and loyalty bonuses.
• Death claims provide higher protection based on the tenure.

The premium, inclusive of GST, will vary depending on the premium mode chosen (yearly, half-yearly, quarterly, or monthly).

Using the calculator, you would know exact amounts to pay and what benefits to expect at different policy years.

Why Choose LIC Bima Shree Plan 848?

Advantages

• Guaranteed returns with risk cover: Unlike pure protection plans, Bima Shree offers regular money back and maturity returns.
• Flexibility to choose policy and premium terms: Suitable for varied financial goals.
• Loyalty bonuses: Add a significant boost to returns.
• Loan facility: Available after 1st policy year.
• Multiple riders: Enhance insurance coverage to include accidents, critical illness, and waiver benefits.
• Tax benefits: Dual advantages on investment and maturity amount.
• Paid-up feature: Policy becomes paid-up even after 2 years of premium payment (unlike others at 3 years), adding flexibility.

Important Points to Remember

• The minimum entry age is 8 years, and maximum varies from 45 to 55 years depending on chosen policy term.
• Premium paying term is always 4 years less than the policy term.
• The premium mode rebate applies only to yearly and half-yearly modes.
• The death benefit is high compared to traditional money-back plans, which may suit those looking for strong protection.
• Survival benefits can be deferred as per the policyholder’s choice, adding flexibility in receiving periodic amounts.
• Always use the official LIC Bima Shree Plan 848 calculator or reliable online tools to get exact premium and benefit details based on individual inputs.

How to Buy LIC Bima Shree Plan 848?

• Visit the nearest LIC branch or official LIC website.
• Use the LIC Bima Shree Plan 848 calculator online to get premium details.
• Fill the proposal form with your personal details, nominee information, and medical history.
• Choose riders as per your requirement.
• Submit the application along with initial premium payment.
• Medical examination may be required depending on age and sum assured.

FAQs about LIC Bima Shree Plan 848

Conclusion

LIC Bima Shree Plan 848 is an ideal insurance-cum-investment plan for those who want guaranteed returns with strong life cover. Its unique features, like early paid-up status, guaranteed and loyalty additions, multiple money backs, and flexible premium terms, make it highly attractive.

Using the LIC Bima Shree Plan 848 calculator, customers can plan their premium payments and get clear insights on benefits, helping them make well-informed financial decisions.