LIC Bima Account 2 Summary:

LIC Bima Account 2 (Plan No. 806) is similar to Bima account 1. Bima account is a without profit Variable Insurance Product wherein the proposals will be accepted under Non-medical Scheme only. Under this plan there will be a Policyholder’s Account maintained separately for individual policyholder, which shall consist of two parts;

  1. Policyholder’s Regular Premium Account and
  2. Policyholder’s Top-up Premium Account.

LIC Bima Account 2 at glance:

  • An Endowment Plan with guaranteed return
  • Premium Top up facility
  • A plan with Guaranteed Interest  of 6% for Whole Term
  • A very high Risk cover
  • Medium Term policy (10-15 years)
  • Loan Available after 1 Year : 60% of amount in Policyholder’s account
  • Surrender Available after 1 year but money will be given after 3 years
  • No Surrender Charges

LIC Bima Account 2 (Plan No. 806)


a) Benefits payable on death:
Sum Assured along with the balance in the Policyholder’s Account.

b) Benefits payable on maturity:
an amount equal to balance in the Policyholder’s Account is payable.

c) Guaranteed Interest:
Guaranteed interest rate shall be applicable on Policyholder’s Account and not on the gross premium paid by the Policyholder.

The Policyholder’s Account i.e both Policyholder’s Regular Premium Account and Policyholder’s Top-up Premium Account will earn an annual interest of 6% p.a. provided the policy is inforce and 5% p.a. if the policy is paid-up. The interest rates will be guaranteed for the whole of the policy term.

During the revival period Policyholder’s Account will earn guaranteed interest rate of 5% p.a.
On revival of policy, the guaranteed rate of interest on Policyholder’s Account will again be 6% p.a. from the date of revival.

The interest amount will be calculated on day to day basis on balance in the Policyholder’s Account after deduction of all due charges and shall be credited to the Policyholder’s Account at the end of each calendar month.

d) Additional Interest:
The Corporation may also declare an additional interest rate on Policyholder’s Regular Premium Account for inforce policies based on the experience under this plan.


(a) Minimum Sum Assured:
10 times the annualized premium

(b) Maximum Sum Assured:
30 times the annualized premium up to age 35 years
20 times the annualized premium for age between 36 to 45years
10 times the annualized premium for age between 46 to 60 years

(c) Minimum Premium:

Yearly Rs.15,000
Half-yearly Rs.8,000
Quarterly Rs.4,000
Monthly (ECS) Rs.1,250
Top-up premium: Rs.1,000

(d) Maximum Premium: No Limit

Top-up premium: Sum total of Regular Premiums paid upto the date of payment of top-up.

(e) Minimum Entry Age : 8 (completed)
(f) Maximum Entry Age : 60 (nearest Birthday)
(g) Policy Term : 10 to 15
(h) Minimum Maturity Age : 18 (completed)
(i) Maximum Maturity Age : 70 (nearest Birthday)

Age at entry is to be taken as age nearest birthday except for the minimum age at entry.

First Year 27.5%
2nd year 7.5% &
3rd Years Thereafter: 5%
Top-up Premium: 2.5%

How to Apply for Bima account 1 and 2?

Update: LIC Bima Account 2 Plan no.806 Has Been Discontinued.

The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.