LIC Bima Lakshmi (Plan 881) Explained — A Powerful Women-Centric Plan with Guaranteed Returns

Plan Type Non-Linked, Non-Participating, Limited Premium, Money-Back Plan (for women only) Minimum Sum Assured ₹ 2,00,000 Maximum Sum Assured No upper limit (subject to underwriting) Policy Term Fixed at 25 years Premium Paying Term (PPT) 7 to 15 years — selectable at inception Entry Age (Life Assured) Minimum – 8 years (completed)
Maximum – 55 years (depending on PPT) Maximum Maturity Age Up to 80 years (nearest birthday) Mode of Premium Payment Yearly, Half-Yearly, Quarterly, or Monthly (ECS/NACH) Eligible Lives Female lives only — including minor girls (policy held by guardian until age 18) Loan Facility Available after payment of one full year’s premium Surrender Value Acquires Surrender Value after two full years’ premiums paid Auto Cover Feature Life cover continues automatically for two years after premium default (if 3 full premiums paid) Deferment of Survival Benefits Survival Benefits can be deferred for later payout with additional guaranteed return Female Critical Illness Rider Optional — three profiles (P1, P2, P3) with combined maximum benefit up to ₹ 5 lakh Other Riders Accident Benefit, Accidental Death & Disability Benefit, New Term Assurance Rider Restrictions No participation in bonuses; plan available only for female lives; option selection (A/B/C) must be made at inception and cannot be changed later.