LIC’s Bima Jyoti (Plan no. 860, UIN No. 512N339V02)

Are you looking for a way to protect your loved ones and save money at the same time? LIC’s Bima Jyoti might be just what you need! It’s a simple life insurance plan that gives you both protection and savings benefits. If something happens to you, your family will get financial support. And while you’re still here, you can build up savings for your future goals.

LIC’s Bima Jyoti is a great choice if you want to make sure your family is taken care of and you also want to save for things like retirement or your child’s education. You’ll get a life cover and guaranteed additions, which means more money saved up over time. Plus, it’s really easy to get this plan 860. You can buy it online through the LIC website or visit your nearest LIC branch to get it in person. So why wait? Get LIC’s Bima Jyoti today and start securing your family’s future!

What is Bima Jyoti?

Bima Jyoti is a life insurance plan that helps keep your family financially safe if something unexpected happens to you. It’s like a shield that protects them from money troubles during hard times.

But that’s not all! If you live until the end of the plan 860, you’ll get a guaranteed lump sum payment. This maturity benefit can help you reach your long-term money goals, like having a comfortable retirement or paying for your child’s college education.

Key Advantages

  • Protection and savings in one: Bima Jyoti gives you life insurance and also helps your money grow with guaranteed additions. It’s a great all-in-one financial solution.
  • Guaranteed Additions: Every year, your savings will grow by Rs. 50 for every thousand of Basic Sum Assured. These additions will make your maturity benefit bigger, helping you build up a lot of money over time.
  • Flexible premium payments: With Bima Jyoti, you can choose how often you want to pay your premiums – yearly, half-yearly, every three months, or monthly. This makes it easier to fit the payments into your budget.
  • Loan option: If you ever need money for an emergency, you can take a loan against your LIC’s Bima Jyoti policy. This way, you can get the cash you need without losing your life insurance coverage.

Eligibility Criteria

To get Bima Jyoti, you need to meet LIC’s eligibility rules. The plan is available for people aged between 90 days (completed) and 60 years when they apply. You can choose a policy term between 15 to 20 years, and the premium payment term will be 5 years less than the policy term.

Age at Entry90 days (completed)60 years
Sum AssuredRs. 1,00,000No limit (in multiples of Rs. 25,000)
Policy Term15 years20 years
Premium Paying TermPolicy Term minus 5 yearsPolicy Term minus 5 years

Additional Features

When the life cover starts in Bima Jyoti depends on how old the person is when they get the policy. If you’re 8 years or older, the risk cover begins right away. But if you’re younger than 8, the risk starts either 2 years after the policy begins or on the policy anniversary date when you turn 8, whichever comes first.

If the policy is for a child, it automatically becomes theirs on the policy anniversary date when they turn 18. This means all the policy rights go to the life assured once they become an adult.

If something tragic happens to the policyholder during the plan 860 term, Bima Jyoti provides a comprehensive death benefit. The nominee will get the sum assured on death, which is either 125% of the Basic Sum Assured or 7 times the yearly premium, whichever is higher. Plus, they’ll also receive any guaranteed additions that have built up, giving them even more financial security.

If you live through the whole policy term, you’ll get a guaranteed maturity benefit. This is the Basic Sum Assured plus all the guaranteed additions that have accumulated. This lump sum payment can help you achieve important financial goals and build a better future.

Optional Benefits

To make your protection even better, Bima Jyoti lets you add optional rider benefits. These include LIC’s Accidental Death and Disability Benefit Rider, which gives financial help if you die or become disabled in an accident. LIC’s Accident Benefit Rider gives an extra sum assured if you pass away due to an accident. LIC’s New Term Assurance Rider increases your life cover, and LIC’s New Critical Illness Benefit Rider pays a lump sum if you’re diagnosed with certain serious illnesses. LIC’s Premium Waiver Benefit Rider will pay your future premiums if the policyholder dies unexpectedly, so the policy benefits can continue.

Bima Jyoti also lets you choose to get the death benefit and maturity benefit in installments. Instead of getting all the money at once, you can spread the payments over 5, 10, or 15 years. This option makes it easier to manage your money and ensures your family has a regular income.


  • If the life assured dies by suicide within 12 months from when the risk started or the policy was revived, Bima Jyoti’s suicide exclusion rule applies. The nominee will get back 80% of the premiums paid, not including taxes and rider premiums, as a compassionate refund.
  • For policies bought through Point of Sales Persons-Life Insurance (POSP-LI) and Common Public Service Centers-Special Purpose Vehicle (CPSC-SPV), there’s a 90-day waiting period from the risk start date. If the life assured dies from non-accidental causes during this time, the nominee will get a refund of the premiums paid.

Frequently Asked Questions

What happens if I stop paying premiums?

If you don’t pay your premiums before the grace period ends, your Bima Jyoti policy will lapse. This means you won’t get the life cover and other benefits anymore. But if you’ve already paid premiums for at least two full years, your policy won’t completely lapse. Instead, it will keep going as a reduced paid-up policy. This gives you lower coverage based on the premiums you paid until the lapse date.

Can I surrender my Bima Jyoti policy?

Yes, you can surrender your Bima Jyoti policy anytime after you’ve paid premiums for at least two full years. When you surrender, you’ll get a surrender value. This is either the Guaranteed Surrender Value (GSV) or the Special Surrender Value (SSV), whichever is higher. The GSV is a percentage of the total premiums you’ve paid. The SSV is an amount LIC decides based on different factors and the rules at the time you surrender.

Is there extra time to pay premiums?

Yes, LIC gives you a grace period to pay your premiums for plan 860 so your policy benefits don’t stop. You get 30 extra days to pay if you’re paying yearly, half-yearly, or every three months. If you’re paying monthly, you get 15 extra days. This means you can pay your premium within this extra time after the due date without messing up your policy or having to pay late fees.

How can I bring back my lapsed policy?

If your Bima Jyoti policy has lapsed because you didn’t pay premiums, you can revive it within five years from the date of the first missed premium. To do this, you need to pay all the premiums you missed, plus some interest. You might also have to prove you’re still insurable. Once you’ve done everything LIC asks and they approve the revival, your policy will go back to having all the original benefits.

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