LIC introduces Bima Kavach (Plan No. 887), a pure term insurance plan designed to offer substantial financial protection to your family in case of your unfortunate demise. Effective from 3rd December 2025, this plan is available for purchase both online and offline.
Plan Name: LIC’s Bima Kavach
Plan No.: 887
UIN: 512N360V01
Type: Non-Participating, Non-Linked, Individual, Pure Risk Plan
| Feature | Details |
|---|---|
| Plan Type | Pure Term Insurance (No Survival Benefit) |
| Entry Age | 18 to 65 years (last birthday) |
| Maturity Age | 28 to 100 years (last birthday) |
| Minimum Sum Assured | ₹2 Crore |
| Maximum Sum Assured | No Limit (Subject to underwriting) |
| Policy Term Options | 10 to 82 years (varies by premium payment type) |
| Premium Payment Term | Single Pay, 5/10/15 Years, or Regular (Same as policy term) |
| Death Benefit Options | Option I: Level Sum Assured / Option II: Increasing Sum Assured |
| Smoker Status | Separate premium rates for Smoker & Non-Smoker (with Cotinine test) |
| Purchase Channels | Online (lic website)& Offline (Agents/Intermediaries) |
Minimum & Maximum Sum Assured:
Minimum: ₹2 Crore
Maximum: No upper limit (subject to underwriting approval)
Multiples:
₹2–2.75 Cr: Multiples of ₹5 Lakh
Above ₹2.75 Cr: Multiples of ₹25 Lakh
Premium Types:
Regular Premium – Pay throughout policy term
Limited Premium – Pay for 5, 10, or 15 years
Single Premium – One-time payment
Smoker vs Non-Smoker:
Non-Smoker: Lower premiums (requires Urinary Cotinine test)
Smoker: Higher premiums (no test required if not opting for non-smoker rates)
Option I: Level Sum Assured
Death benefit = Basic Sum Assured (fixed throughout policy term)
Option II: Increasing Sum Assured
First 5 years: Basic Sum Assured
Years 6–15: Increases by 10% of Basic SA each year
From Year 16: Stays at twice the Basic Sum Assured till maturity
Example: For ₹2 Cr Basic SA, death benefit can go up to ₹4 Cr.
Available if:
Option I (Level Sum Assured) + Regular Premium chosen
Age at entry ≤ 40 years
Standard life at policy inception
Increase Sum Assured on:
Marriage: +50% of original SA (max ₹2 Cr increase)
First Child: +25% of original SA (max ₹1 Cr increase)
Second Child: +25% of original SA (max ₹1 Cr increase)
Request must be made within 6 months of the event.
1. Accident Benefit Rider (UIN: 512B203V03)
Available for: Regular & Limited Premium policies
Cover: Accidental death benefit up to ₹100 Lakh (overall limit ₹200 Lakh across LIC policies)
Premium: ₹0.50 per ₹1,000 SA (₹1.00 for police personnel)
2. Death Benefit Instalment Option
Receive death benefit in instalments over 5, 10, or 15 years
Modes: Monthly, Quarterly, Half-Yearly, Yearly
Minimum instalment amounts apply
| Rebate Type | Regular/Limited Premium | Single Premium |
|---|---|---|
| High Sum Assured Rebate | Up to 4% (based on age & SA) | Up to 4% (based on age & SA) |
| Online Purchase Rebate | 7.50% | 3.00% |
| CIS Rebate (LIC Employees) | 7.50% | 3.00% |
CIS & Online rebates are mutually exclusive.
Grace Period: 30 days for Yearly/Half-Yearly premiums
Surrender Value:
Regular Premium: No surrender value
Single Premium/Limited Premium: Unexpired Risk Premium may be payable
Loan: Not available
Paid-up Value: No paid-up value under this plan
Revival: Allowed within 5 years of first unpaid premium (with interest & underwriting)
Death Claim:
Claim form + Original policy + NEFT mandate
Death certificate + Age proof (if not admitted)
Additional docs for accidental/unnatural death (FIR, PM report, etc.)
Suicide Clause:
Within 12 months of policy start/revival: 80% of premiums paid (excluding extras)
High Cover at Low Cost: Pure term plan with premiums focused on risk cover
Flexible Sum Assured Options: Level or Increasing cover
Life Stage Benefit: Increase cover on marriage/childbirth without medicals
Online Discount: Save up to 7.5% on premiums
Trust of LIC: Backed by India’s most trusted life insurer
Online: www.licindia.in
Offline: Through LIC agents, offices, or intermediaries
Disclaimer: This is a summary of the plan. For complete details, refer to the official policy document. UIN: 512N360V01. Insurance is the subject matter of solicitatio