Some of the features that makes this policy a favorite among many are:

You can get premium waiver rider benefits for the policyholders who are minors.
The premiums that you will pay are tax exempt.
The basic sum assured is tax-free.
You can get guaranteed additions on the sum and also get participation profits.

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    Choosing the right life cover plan is very important as it helps in securing the family in the future and also helps in getting a lump sum after the maturity period is over. The Bima Shree plan is practical for those who have an overall higher net worth, and it becomes important for them to secure their family’s future in the case of the policyholder’s death. The plan is also a basic money-back insurance plan in which the holder can expect a return of 50 rupees on 1000 at least for the first 5 years of the policy duration. After this, the guaranteed addition on the policy’s basic sum can increase up to 55 rupees.


    In this plan, the benefits that one can experience are listed below:

    • Maturity benefits: With this, the policyholder can get maturity benefits after the policy duration is over. Depending on the duration of the policy, the assured sum after maturity changes. Also, the assured sum is added along with the loyalty benefits and guaranteed additions.
    • Death benefits: There are two types of death benefits that are covered under this policy plan. One is the death of the policyholder within the first five years of the policy term, and the second one is when the death of the policyholder takes place after the five years of duration but before the maturity. In the first case, the family gets the assured sum after death along with the guaranteed additions. However, in the second case, the sum assured is added with the loyalty bonus and GA’s. In either of the situations, the sum to be paid should be less than 105 percent of the sum.
    • Survival benefits: Under this benefit, the policyholder will get a certain percent of the assured sum after a certain duration. This duration and the percentage differ depending on the term plans.
    • Optional benefits: Under this plan, you can get a varied number of rider benefits like:
    • accident benefit
    • accidental death and disability
    • new assurance rider
    • premium waiver rider benefit
    • critical illness rider benefit

    Under all these benefits, you can get participation in profits if the company approves of it and also if the policyholder has paid the full premiums of the first five years.

    Things to keep in mind

    Certain things to keep in mind while choosing the policy are:

    • Terms available: 14 years, 16 years, 18 years. 20 years
    • Maximum age limit (for each term): 14 years (55), 16 years (51), 18 years (48), 20 years (45)
    • Minimum age limit: 8 years
    • Premium: monthly, quarterly, yearly and half-yearly
    • Minimum basic sum: 10 lakhs (multiples of 100000)
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