LIC New Bima Kiran (Table 150) – Review, Features and Benefits

LIC New Bima Kiran Policy is a premium back term assurance plan that provides financial protection against death throughout the term of plan together with a return of premiums paid at maturity.

LIC New Bima Kiran policy

Features of the policy – (Table 150)

  1. Premiums can be quarterly, half-yearly and yearly throughout the term of the policy.
  2. Rider Benefit is available
  3. Maximum Risk covers up to Rs 10 lacs with minimum premium.
  4. Free insurance cover after maturity for a period of 10 yrs.
  5. Term of the policy 25 yrs
  6. Free Risk Cover (depending on term) for 10 yrs after maturity.

Benefits of the policy –

a) Death Benefit: On the death of the policyholder, the nominee of the policy will get the Sum Assured + Loyalty additions, if any in a lump sum.

b) Extended Term Cover Benefit: On survival of the term, an extended-term cover (without accident benefit) shall be available thereafter for a period of 10 years on the following scale :

  1. 10 – 14 years – 20% of Sum Assured
  2. 15 – 19 years – 30% of Sum Assured
  3. 20 – 24 years – 40% of Sum Assured
  4. 25 – 29 years – 50% of Sum Assured
  5. 30 years – 60% of Sum Assured

c) Maturity Benefit: If the policyholder survives till the end of the policy term then, the policyholder will get a sum equal to the total amount of premiums paid (Including accident benefit premium but excluding other extras).

d) Supplementary Benefits: The plan has an in-built Accident benefit which covers up to a maximum of Rs.5 lacs cover both accidental death and Total and Permanent disability arising due to accident.

Eligibility Conditions of the policy –

Like other policies, LIC New Bima Kiran also has some eligibility conditions. Let us look at these conditions –

 Sum Assured

Rs 1 Lac and Rs 10 Lacs

Minimum Entry Age

35 yrs

Maximum Age at Maturity

60 yrs

 Premium paying Term

25 yrs

Can I get the surrender value of 1 yr old active policy?

The LIC New Bima Kiran policy can be surrendered only if it is active for 3 yrs or more with premium paid for at least 3 yrs. The guaranteed surrender value is 30% of the basic premiums paid excluding the first year’s premium.

Conclusion –

So, by now every one of you has come to know each and every detail of this policy. Now it’s up to you all to decide if this policy is what you need or something else. If you have any doubt regarding this policy, they please let us know in the comment section.

25 replies on this article “LIC New Bima Kiran (Table 150) – Review, Features and Benefits”

  1. ChandanDey says:

    loan facility available on this plan?

  2. Mrinal Sarkar says:

    policy no 453682270 in the life of Ranjan Mitra Doc is 15.03.2005 policey is inforce but this year cant deposite the renewal premium due to covid 19 customer passed dt.on 20.04.2021 please infrom me nominee will get full.benifit ?

    1. Jagoinvestor says:

      I guess not.. the grace period is only for 1 month .. that is already passed

  3. Ranjan says:

    Mera policy 1 Apr 2020 premium tha lakin lock down ke vajahe se mai bhar nahi paya 1 cto 2020 laga tar chaker mar raha lakin report per report mang rahe hai aap ki data me phir report mange or mere policy ka last premium 3 mar 2021 me hai or next year me maturnity ho raha hai ab bolo mai kya kare

    1. Jagoinvestor says:

      Which report they are asking?

  4. shair mohammand ansari says:

    my policy last premium will be paid on march 2022, when i get maturuty of bima kiran policy

    1. Anuradha Singh says:

      Hello Mr. Ansari

      Please get in touch with the customer care of LIC for this query. They will help you with this.

      Thank You

  5. Ashutosh Das says:

    My policy no-418013635 already meturity date over,last yr Aug maturity but I don’t no how match maturity amount.pls help me.

    1. Jagoinvestor says:

      Hi Ashutosh,

      Did you not connect with the company office on this or your agent?

  6. Vijay kumar says:

    After 9 years lapse policy I can re start

  7. Mohammad Salim Raien says:

    I want to Surrender my New Bima Kiran (Plan -150)

  8. Vivek Deshmukh says:

    Policy Number 350926368, Bima Kiran after Maturity amount not recived

    1. Anuradha Singh says:

      Hello Vivek, we won’t be able to help you with this query. Kindly ask LIC.

      Thank You

  9. Vanama Venkateswara Rao says:

    What r the benefits for new Bina Kiran table 150 .

    1. Anuradha Singh says:

      Hello, Please read the article. I have clearly mentioned the benefits. Thank You

  10. Vijay Taneja says:

    I started new bima kiran (plan-150) for 20 years with the premium of Rs. 5323 yearly on 28/08/2003. Sum insured is Rs. 250000/- I want to know that after 20 years i.e. on 28/08/2023, what amount (approx.) I supposed to get from LIC.


    Vijay Taneja

    1. Anuradha Singh says:

      Hello Mr. Vijay, we won’t be able to help you with this query. Kindly contact LIC for this. Thank You

    2. mahesh g duseja says:

      I think on maturity you will get total of all premiums paid by you, which will be 106460. Because as per the terms of New Bhima KIran on maturity the insurer will get sum equvalnt to the total of premiums paid.

      1. Rakesh says:

        Correct Mahesh. It is a bad policy. looking at time value of money, just getting premiums back after 20 years means you lose a lot of money. My dad made the same mistake and now i am stuck with this policy. Better put this money to another policy / mutual funds.

  11. chandan bhattacharya says:

    send me the table please

    1. Anuradha Singh says:

      Hi Chandan
      Which table you want?

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