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LIC Bima Diamond
LIC Bima Diamond




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LIC Bima Diamond Details

1 Details
1.1 Insurance Provider
Life Insurance Corporation of India
1.2 Claim Settlement Ratio
1.2.1 Settlement Ratio (2015-16)
95.51%
Rank: 1 (Overall)
1.2.2 Settlement Ratio
LIC Bhagya Laks..
98.00%
Rank: 1 (Overall)
Edelweiss Tokio My Life Plus Details
1.2.3 Settlement Ratio (2013-14)
LIC New Jeevan ..
98.14 %
Rank: 2 (Overall)
DHFL Pramerica Family Income Details
1.3 Type
Money Back Life Insurance Plan
1.4 Status
In-force
1.5 Online
37% Money Back Insurance Plans Life insurance plans have it !
1.6 Eligibility
1.6.1 Min Entry Age
AEGON Religare ..
14 years
Rank: 13 (Overall)
Bajaj Allianz Cash Assure Details
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1.6.2 Max Entry Age
ICICI Pru Immed..
50 years
Rank: 26 (Overall)
Reliance Classic Plan 2 Details
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1.6.3 Min Vesting Age
Canara HSBC Sma..
30 years
Rank: 19 (Overall)
Shriram Secure Investment Plan Details
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1.6.4 Max Vesting Age
Bharti AXA Life..
66 years
Rank: 19 (Overall)
LIC New Children Money Back Plan Details
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1.7 Policy Term
1.7.1 Min Term
Edelweiss Tokio..
16 years
Rank: 14 (Overall)
HDFC Life New Group Unit Linked Plan Details
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1.7.2 Max Term
TATA AIA Fortun..
24 years
Rank: 21 (Overall)
HDFC Life New Group Unit Linked Plan Details
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1.8 Returns
1.8.1 Min Sum Assured
Aviva Life Shie..
₹ 100000
Rank: 33 (Overall)
ICICI Pru Immediate Annuity Plan Details
1.8.2 Min Sum Assured (Variable)
Not Applicable
1.8.3 Max Sum Assured
IDBI Federal Lo..
₹ 500000
Rank: 17 (Overall)
Kotak Gratuity Plus Group Plan Details
1.8.4 Max Sum Assured (Variable)
Not Applicable
1.9 Group Plan
No Money Back Insurance Plans Life insurance plans has it !
1.9.1 Group Type
Not Applicable
1.9.2 NEE Size
Metlife Group T..
Not Applicable
Rank: N/A (Overall)
Reliance Traditional Group Employee Benefit Plan Details
1.9.3 EE Size
Metlife Complet..
Not Applicable
Rank: N/A (Overall)
HDFC Group Term Insurance Details

Details about LIC Bima Diamond

Details about LIC Bima Diamond include its plan type, eligibility, returns. Life Insurance Corporation of India is an insurance company which provides different insurance plans under various categories such as Endowment Plans, ULIPs, Group Plans, Pension Plans etc. Claim settlement ratio for this insurance provider is 98.14 %. That is out of 100 claims received, they have paid money for those many number of claims. This policy is provided by the life insurance company under Money Back Life Insurance Plan. LIC Bima Diamond details also include information about policy term and whether the plan can be bought in a group. Presently, this policy can be bought from the insurance company. This plan can be bought online.

LIC Bima Diamond Eligibility

LIC Bima Diamond eligibility talks about the min/max entry ages and vesting ages required for this plan. Vesting age is also known as maturity age. Vesting age usually begins after all the LIC Bima Diamond Premiums are paid and it is time to reap the benefits of the plan i.e. getting your invested money back along with added bonus. Minimum/maximum entry ages and vesting ages are calculated based on the last birthday of the life insured.

Entry Age and Vesting Age Restrictions

Following are the entry age and vesting age restrictions for LIC Bima Diamond-

  • Minimum Entry Age: 14 years.
  • Maximum Entry Age: 50 years.
  • Minimum Vesting Age: 30 years.
  • Maximum Vesting Age: 66 years.

Policy Term in LIC Bima Diamond

Policy Term in LIC Bima Diamond is a period of time during which the policy is valid. When policy term is completed, you get some fixed returns and extra benefits mentioned in your policy. Policy term details for this plan are given below.

  • Minimum Policy Term: 16 years.

  • Maximum Policy Term: 24 years

LIC Bima Diamond Returns

In a life insurance policy, sum assured comes under LIC Bima Diamond returns. Sum assured is the minimum amount of money that you get from the insurance company upon completion of the policy term. In event of your death, this money is paid to your family. For this policy, value for minimum sum assured is ₹ 100000. Maximum sum assured by this insurance plan is ₹ 500000.

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