Bima Shree 748
Bima Shree 748: LIC of India has been launched LIC New Bima Shree Plan 748 from 18th November 2024, LIC Bima Shree Plan 748 is a non-linked, with-profits, limited premium payment money back life insurance plan.
When it comes to life insurance in India, LIC (Life Insurance Corporation of India) has always been the most trusted name. For decades, Indian families have relied on LIC not only for life protection but also for long-term wealth creation.
Among its various offerings, the LIC Bima Shree Plan 748 stands out as a premium money-back insurance plan that has been specifically designed for High Net Worth Individuals (HNIs). Unlike regular money-back plans, Bima Shree is structured for large investors who want:
- High insurance coverage
- Regular survival benefits (money-back payouts)
- Attractive bonuses
- Financial security for family
In this article, we’ll cover everything about LIC Bima Shree Plan 748, including features, benefits, investor examples, premium charts, payout illustrations, expert insights, and FAQs.
What is LIC Bima Shree Plan 748?
LIC Bima Shree (Plan No. 748, UIN: 512N316V01) is a non-linked, with-profits, limited premium payment money-back plan.
👉 In simple words:
- It’s a savings + protection plan.
- Premiums are paid only for a limited period.
- It offers guaranteed survival benefits at intervals.
- It pays bonuses at maturity or death.
- Designed for those who can afford minimum ₹10 lakh Sum Assured.
This makes it different from standard LIC policies which usually start with a smaller minimum sum assured.
Key Features of LIC Bima Shree 748
| Feature | Details |
|---|---|
| Plan Name | LIC Bima Shree |
| Plan Number | 748 |
| Type | Limited Premium, Participating, Money-back |
| Policy Term Options | 14, 16, 18, 20 years |
| Premium Payment Term (PPT) | Policy Term – 4 years |
| Entry Age | 8 to 55 years |
| Maximum Maturity Age | 70 years |
| Minimum Basic Sum Assured | ₹10,00,000 |
| Maximum Basic Sum Assured | No limit (depends on income) |
| Money-back Payouts | At intervals depending on policy term |
| Maturity Benefit | Remaining SA + Bonus + Final Additional Bonus |
| Death Benefit | SA on Death + Bonus + FAB |
| Loan Facility | Available after 2 years |
| Riders Available | Accidental Death & Disability Rider, Critical Illness Rider, Term Rider, etc. |
Benefits of LIC Bima Shree Plan 748
1. Survival Benefits (Money Back Payouts)
Depending on the policy term, money-back is paid in the last 5 years of the policy:
| Policy Term | Money-back Payouts |
|---|---|
| 14 years | 30% SA at 10th & 12th year, 40% at maturity |
| 16 years | 35% SA at 12th & 14th year, 30% at maturity |
| 18 years | 40% SA at 14th & 16th year, 20% at maturity |
| 20 years | 45% SA at 16th & 18th year, 10% at maturity |
2. Maturity Benefit
At the end of policy term, the remaining Sum Assured + Bonus + Final Additional Bonus (FAB) is paid.
3. Death Benefit
In case of death during policy term:
- Sum Assured on Death + Bonuses + FAB is paid, where
Sum Assured on Death = Higher of (10 × Annual Premium OR 125% of Basic Sum Assured).
4. Guaranteed Additions
For the first 5 years, LIC adds a Guaranteed Addition of ₹50 per ₹1,000 SA.
From 6th year onwards, bonuses are declared.
5. Loan Facility
After 2 years of premium payment, a loan can be availed against policy.
6. Tax Benefits
- Premiums eligible under Section 80C.
- Maturity/Death proceeds tax-free under Section 10(10D).
Premium & Payout Illustration of Bima Shree 748
Let’s understand with an example.
Case Study – Mr. Raj (Age 35, Businessman)
- Policy Term: 16 years
- Sum Assured: ₹20,00,000
- Premium Payment Term: 12 years
- Annual Premium: ~₹2,10,000 (approx.)
Money-back & Maturity Chart
| Policy Year | Event | Payout |
|---|---|---|
| 12th Year | Survival Benefit | ₹7,00,000 (35% of SA) |
| 14th Year | Survival Benefit | ₹7,00,000 (35% of SA) |
| 16th Year | Maturity | ₹6,00,000 + Bonuses + FAB |
👉 Total received = ₹20,00,000 (SA) + Bonuses (~₹7–10 lakh).
👉 Total return = Around ₹27–30 lakh.
Analyst Opinions
- Insurance Analysts: Bima Shree is a premium LIC product targeted at HNIs. The survival benefit structure provides liquidity at strategic intervals.
- Financial Planners: The plan is most beneficial for people with large surplus funds who want to park money safely and still get decent returns.
- Market Experts: The expected IRR (internal rate of return) is around 6–7%, which is competitive for a safe insurance-cum-investment option.
Who Should Invest in LIC Bima Shree? (Investor Scenarios)
1. High Net Worth Individuals (HNIs)
People with ₹10 lakh+ investable surplus who need safe instruments with insurance.
2. Business Owners
Can use survival benefits as working capital injections.
3. Parents Planning for Higher Education/Marriage
Large payouts at crucial stages (like college years) make this ideal.
4. Conservative Investors
Those who don’t prefer stock market risk but want assured benefits.
Real-Life Investor Examples
Example 1 – Corporate Executive (Age 40, SA ₹25 lakh, Term 20 years)
- Premium: ~₹2.6 lakh/year for 16 years
- Survival benefits: ₹11.25 lakh at 16th year, ₹11.25 lakh at 18th year
- Maturity: ₹2.5 lakh + Bonuses (~₹12–15 lakh)
- Total returns: ~₹35–38 lakh
Example 2 – Doctor (Age 30, SA ₹15 lakh, Term 18 years)
- Premium: ₹1.6 lakh/year
- Survival benefits: ₹6 lakh at 14th year, ₹6 lakh at 16th year
- Maturity: ₹3 lakh + Bonus (~₹8–10 lakh)
- Total return: ~₹23–25 lakh
Comparison with Other LIC Plans
| Plan | Type | Minimum SA | Best For | Returns |
|---|---|---|---|---|
| Bima Shree 748 | Premium Money-back | ₹10 lakh | HNIs, large investors | 6–7% |
| Jeevan Shiromani 947 | Ultra-premium, Money-back | ₹1 crore | Ultra HNIs | 6–7% |
| New Money Back 921 | Regular Money-back | ₹1 lakh | Middle-income | 5.5–6% |
| Dhan Varsha 866 | Single Premium | ₹10 lakh | NRIs, retirees | 5–6% |
Expert Insights
- Pros:
✅ High insurance coverage
✅ Guaranteed additions for first 5 years
✅ Large payouts during survival years
✅ Suitable for wealth protection - Cons:
❌ High entry cost (minimum ₹10 lakh SA)
❌ Returns moderate compared to equity/mutual funds
❌ Not ideal for low-income households
FAQs on LIC Bima Shree Plan 748
Q1. What is the minimum premium of LIC Bima Shree?
👉 Minimum premium depends on ₹10 lakh Sum Assured, approx. ₹80,000–₹1,20,000 annually depending on age.
Q2. Can NRIs buy LIC Bima Shree?
👉 Yes, NRIs are eligible subject to conditions.
Q3. What happens if I stop paying premium?
👉 The policy acquires a paid-up value if at least 2 full years’ premiums are paid.
Q4. Is this plan better than Jeevan Shiromani?
👉 Jeevan Shiromani is designed for ultra-HNIs (₹1 crore SA minimum), while Bima Shree is more accessible (₹10 lakh+).
Q5. Are loans available on this plan?
👉 Yes, after 2 years.
Final Thoughts
The LIC Bima Shree Plan 748 is an exclusive money-back insurance plan crafted for high-income groups in India. It offers:
- Large insurance cover
- Strategic survival benefits
- Guaranteed additions + bonuses
- Safe, tax-efficient returns
While it requires high premium commitments, the plan is perfect for HNIs, business families, professionals, and investors who seek low-risk, tax-saving, and liquidity-driven wealth protection.
👉 In 2025, if you are considering a safe and premium LIC product for long-term wealth planning, LIC Bima Shree 748 deserves serious attention.
