{"uin":"512N397V01","name":"LIC’s Bima Platinum","url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01","insurer":{"slug":"lic","name":"Life Insurance Corporation of India","url":"https://indiainsurances.com/insurer/lic"},"line":"life","category":"savings-life","category_name":"Endowment and savings plans","irdai_type":null,"kind":"product","status":"active","approved_on":null,"withdrawn_on":null,"summary":"LIC’s Bima Platinum is a non-par, non-linked individual savings life plan with limited premium payment terms of 7, 10, 12, 15 or 18 years. It pays a death benefit based on the higher of Basic Sum Assured or 11 times annualized premium plus accrued Guaranteed Additions, and has Regular Income Benefit of 10% and Booster Income Benefit of 70% of Basic Sum Assured.","analysis":{"state":"machine","analysed_at":"2026-10-20 00:52:11.309712+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"not-stated","value":null,"display":null,"note":"No named internal plan variants are stated.","quote":null,"sources":[],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"not-stated","value":null,"display":null,"note":null,"quote":null,"sources":[],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"The policyholder or claimant must intimate LIC about the insured event resulting in a claim at the earliest possible time.","display":"At the earliest possible time","note":null,"quote":"Policyholder or the claimant, as applicable, is required to intimate the Corporation, about the happening of the insured event resulting into a claim under the policy, at the earliest possible time.","sources":[{"clause":"5(a)","heading":"Death Claim","page":15,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-5-a-2"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["claim forms, as prescribed by the Corporation","original Policy Document","NEFT mandate from the claimant for direct credit of the claim amount to the bank account","proof of title","proof of death","medical treatment prior to the death (if any)","school/ college/ employer's certificate, whichever is applicable","proof of age of the Life Assured, if age is not admitted","copies of First Information Report (FIR), Panchnama and Post Mortem report for unnatural or accidental death","discharge form for Maturity Benefit / Income Benefit / Surrender"],"display":"Death: claim forms, original Policy Document, NEFT mandate, proof of title and death; accidental or unnatural death may need FIR, Panchnama and Post Mortem report. Maturity, income benefit or surrender: discharge form, original Policy Document, NEFT mandate and proof of age if not admitted.","note":"LIC may also call for additional documents and any statutory or legal requirements.","quote":"The normal documents which the claimant shall submit while lodging the claim in case of death of the Life Assured shall be the claim forms, as prescribed by the Corporation, accompanied with original Policy Document, NEFT mandate from the claimant for direct credit of the claim amount to the bank account, proof of title, proof of death, medical treatment prior to the death (if any), school/ college/ employer's certificate, whichever is applicable, to the satisfaction of the Corporation. If the age is not admitted under the policy, the proof of age of the Life Assured shall also be submitted. ... In case of unnatural death or death on account of or arising from an accident, the Corporation reserves the right to call for the copies of First Information Report (FIR), Panchnama and Post Mortem report. ... the Life Assured/Proposer shall submit the discharge form along with the original Policy Document, NEFT mandate from the claimant for direct credit of the claim amount to the bank account besides proof of age, if the age is not admitted earlier.","sources":[{"clause":"5(a)","heading":"Death Claim","page":15,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-5-a-2"},{"clause":"5(b)","heading":"Maturity Benefit / Income Benefit / Surrender","page":15,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-5-b-2"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"quote-verified","value":"The CIS states death claims not requiring investigation have a TAT of 15 days, early death claims requiring investigation have decision and payment TAT of 45 days, and maturity claims are settled on the due date.","display":"Death claims not requiring investigation: 15 days; early death claims requiring investigation: 45 days; maturity claims: on due date","note":"The CIS gives TATs but does not state the starting point for the 15-day or 45-day period.","quote":"Death claims settlements not requiring Investigations | 15 days ... Early Death Claims requiring 45 days investigations -decision & payment ... Settlement of Maturity Claims | On due date","sources":[{"clause":"Row 1","heading":"Death Claims","page":5,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11860#c-row-1-2"},{"clause":"Row 6(d)","heading":null,"page":5,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11860#c-row-6-d-2"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"quote-verified","value":["death due to suicide, within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy","For a policy lapsed without acquiring paid-up value, nothing shall be payable under such policies.","death of the Life Assured within the first 90 days from the date of commencement of risk, if purchased through POSP-LI or CPSC-SPV and death is not on account of an accident","If less than one full year’s premium(s) has been paid and any subsequent premium is not paid, all benefits cease after grace period and nothing is payable","untrue or incorrect statement in the proposal, personal statement, declaration and connected documents","material information is withheld"],"display":"Main exclusions include suicide within 12 months, POSP-LI/CPSC-SPV non-accidental death within first 90 days, lapse without paid-up value, non-payment before one full year’s premium, and untrue statements or withheld material information.","note":"For POSP-LI/CPSC-SPV policies, accident deaths during the 90-day waiting period remain payable as Death Benefit.","quote":"In case of death of the Life Assured due to suicide, within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the Nominee or Beneficiary shall be entitled to 80% of the total premiums paid till the date of death or the surrender value available as on the date of death, whichever is higher, provided the policy is in-force. ... For a policy lapsed without acquiring paid-up value, nothing shall be payable under such policies. ... In case the Plan is purchased through Point of Sales Persons-Life Insurance (POSP-LI) or CPSC-SPV, on death of the Life Assured within the first 90 days from the date of commencement of risk, the Corporation shall refund the total premiums paid, provided the policy is in-force and death is not on account of an accident. ... If less than one full year’s premium(s) has been paid in respect of this policy and any subsequent premium be not duly paid, all the benefits under this policy shall cease after the expiry of grace period from the date of First Unpaid Premium and nothing shall be payable ... any untrue or incorrect statement is contained in the proposal, personal statement, declaration and connected documents or any material information is withheld","sources":[{"clause":"2","heading":"Suicide Exclusion","page":15,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-2-5"},{"clause":"3(b)","heading":"Waiting Period","page":15,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-3-b"},{"clause":"2(i)","heading":null,"page":9,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-2-i"},{"clause":"2(ii)","heading":"Forfeiture in Certain Other Events","page":9,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-2-ii"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"Complaints first go to LIC’s Grievance Redressal Officers at Branch, Divisional, Zonal or Central Office, or through LIC’s customer portal or email. If the customer is not satisfied with the response or does not receive a response within 15 days, the customer may approach IRDAI; claim-related grievances can also go to the Insurance Ombudsman.","display":"First LIC GROs or LIC portal/email; then IRDAI if not satisfied or no response within 15 days; Ombudsman for claim-related grievances","note":null,"quote":"The Corporation has Grievance Redressal Officers (GROs) at Branch/ Divisional/ Zonal/ Central Office to redress grievances of customers. ... a registered policy holder can directly register complaint/ grievance and track its status. Customers can also contact at e-mail id co_complaints@licindia.com for redressal of any grievances. ... In case the customer is not satisfied with the response or does not receive a response from us within 15 days, then the customer may approach the Policyholder’s Protection and Grievance Redressal Department ... For redressal of Claims related grievances, claimants can also approach Insurance Ombudsman","sources":[{"clause":"Section 45","heading":"of the Insurance Act, 1938","page":16,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-section-45"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"sum_assured","label":"Sum assured","section":"Cover","meaning":"The minimum and maximum life cover, or the rule that sets it (for example 10 times the annual premium).","status":"quote-verified","value":"Minimum Basic Sum Assured is Rs. 3,00,000 and maximum Basic Sum Assured has no limit, subject to underwriting. Sum Assured on Death is the higher of Basic Sum Assured or 11 times Annualized Premium.","display":"Minimum Basic Sum Assured Rs. 3,00,000; maximum no limit subject to underwriting; Sum Assured on Death is higher of Basic Sum Assured or 11 times Annualized Premium","note":"Minimum and maximum Basic Sum Assured are from the sales brochure.","quote":"g) | Minimum Basic Sum Assured | ` 3,00,000 ... h) | Maximum Basic Sum Assured | No limit. The maximum Basic Sum Assured allowed to each individual shall be subject to underwriting decision as per the Board Approved Underwriting Policy. ... “Sum Assured on Death” is defined as higher of Basic Sum Assured or 11 times of Annualized Premium.","sources":[{"clause":"2(a)","heading":null,"page":3,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11880#c-2-a"},{"clause":"1","heading":"Benefits payable under an in-force policy","page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-1-3"}],"law":[]},{"key":"death_benefit","label":"Death benefit","section":"Cover","meaning":"What your family gets if you die during the term, and how it is calculated.","status":"quote-verified","value":"For an in-force policy, death during the policy term after commencement of risk and before maturity pays Sum Assured on Death plus accrued Guaranteed Additions. Sum Assured on Death is higher of Basic Sum Assured or 11 times Annualized Premium, and the benefit is not less than 105% of Total Premiums Paid or the surrender value as on death; for a minor below 8 years before risk starts, it returns Total Premiums Paid without interest.","display":"Sum Assured on Death plus accrued Guaranteed Additions; at least 105% of Total Premiums Paid and not less than surrender value","note":"Death Benefit may be paid in lump sum and/or instalments if that option is exercised.","quote":"Death Benefit, payable on death of the life assured, during the policy term after the date of commencement of risk but before the stipulated date of maturity, provided the policy is in-force, shall be “Sum Assured on Death” along with accrued Guaranteed Additions for in-force policy; Where, “Sum Assured on Death” is defined as higher of Basic Sum Assured or 11 times of Annualized Premium.\nThis Death Benefit shall not be less than 105% of the “Total Premiums Paid” upto the date of death. In any case, the Death Benefit shall not be less than the Surrender Value calculated as on the date of death. ... in case of minor Life Assured, whose age at entry is below 8 years, on death before the commencement of Risk ... shall be the return of “Total Premiums Paid”, without interest.","sources":[{"clause":"1","heading":"Benefits payable under an in-force policy","page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-1-3"}],"law":[]},{"key":"maturity_benefit","label":"Maturity benefit","section":"Cover","meaning":"What you get if you survive to the end of the term.","status":"quote-verified","value":"On survival to the stipulated Date of Maturity under an in-force policy, the policy pays Sum Assured on Maturity plus accrued Guaranteed Additions; Sum Assured on Maturity equals Basic Sum Assured. A settlement option can take the maturity benefit in instalments.","display":"Sum Assured on Maturity equal to Basic Sum Assured plus accrued Guaranteed Additions","note":null,"quote":"On Life Assured surviving the stipulated Date of Maturity provided the policy is in-force, “Sum Assured on Maturity” along with accrued Guaranteed Additions for in-force policy, shall be payable. Where “Sum Assured on Maturity” is equal to Basic Sum Assured.\nThe Policyholder/Life Assured shall have an option to receive the Maturity benefit in lumpsum as specified above and/or in instalments (Settlement Option)","sources":[{"clause":"1(ii)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-1-ii"}],"law":[]},{"key":"premium_paying_term","label":"Premium paying term","section":"Premium","meaning":"For how many years you pay premiums.","status":"quote-verified","value":"Premium paying term options are 7, 10, 12, 15 and 18 years.","display":"7, 10, 12, 15 and 18 years","note":"From the sales brochure.","quote":"a) | Premium Paying Term (PPT) | 7, 10, 12, 15 and 18 years.","sources":[{"clause":"2","heading":"Eligibility Conditions and Other Restrictions","page":3,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11880#c-2"}],"law":[]},{"key":"maturity_age","label":"Maximum maturity age","section":"Eligibility","meaning":"The oldest age at which cover ends.","status":"quote-verified","value":"Maximum age at maturity is 75 years nearer birthday. For policies procured through POSP-LI/CPSC-SPV, it is 65 years nearer birthday.","display":"75 years nearer birthday; 65 years nearer birthday for POSP-LI/CPSC-SPV","note":"From the sales brochure.","quote":"d) | Maximum Age at Maturity | 75 years (nearer birthday) 65 Years (nearer birthday) for policies procured through POSP-LI / CPSC-SPV","sources":[{"clause":"2(a)","heading":null,"page":3,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11880#c-2-a"}],"law":[]},{"key":"suicide_clause","label":"Suicide clause","section":"Exclusions","meaning":"What is paid if death is by suicide within the first 12 months.","status":"quote-verified","value":"If the Life Assured dies by suicide within 12 months from commencement of risk or revival, the nominee or beneficiary receives 80% of total premiums paid till death or the surrender value on the date of death, whichever is higher, provided the policy is in-force. This clause is not applicable if age at entry or revival is below 8 years, applies to paid-up policies, and a lapsed policy without paid-up value pays nothing.","display":"Within 12 months: 80% of total premiums paid or surrender value, whichever is higher","note":null,"quote":"In case of death of the Life Assured due to suicide, within 12 months from the date of commencement of risk under the policy or from the date of revival of the policy, as applicable, the Nominee or Beneficiary shall be entitled to 80% of the total premiums paid till the date of death or the surrender value available as on the date of death, whichever is higher, provided the policy is in-force.\nNote:\na) This clause shall not be applicable in case the age at entry / age at the time of revival of the life assured is below 8 years.\nb) This clause shall also be applicable for paid-up policies.\nc) For a policy lapsed without acquiring paid-up value, nothing shall be payable under such policies.","sources":[{"clause":"2","heading":"Suicide Exclusion","page":15,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-2-5"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 21","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 35","url":"https://indiainsurances.com/law/irdai-life-products-2024"}]},{"key":"surrender","label":"Surrender value","section":"Renewal and rights","meaning":"What you get if you stop the policy early, and from when.","status":"quote-verified","value":"The policy can be surrendered after completion of the first policy year if one full year’s premium has been paid. LIC pays the higher of Guaranteed Surrender Value plus surrender value of accrued Guaranteed Additions, or Special Surrender Value; GSV is acquired after two consecutive years of premiums, while SSV becomes payable after completion of the first policy year with one full year premium received.","display":"Surrender after first policy year with one full year’s premium; higher of GSV plus accrued GA surrender value or SSV","note":"No surrender value is available on riders.","quote":"The policy can be surrendered by the policyholder after completion of first policy year provided one full year’s premium(s) has been paid. ... On surrender of an in-force or paid-up policy, the Corporation shall pay the Surrender Value higher of ... Guaranteed Surrender Value and surrender value of any accrued Guaranteed Additions; or ... Special Surrender Value. ... The policy shall acquire a Guaranteed Surrender Value on payment of premium for atleast two consecutive years. ... The Special Surrender Value shall become payable after completion of first policy year provided one full year premium has been received.","sources":[{"clause":"4","heading":null,"page":11,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-4-4"},{"clause":"4(a)","heading":null,"page":11,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-4-a"},{"clause":"4(b)","heading":null,"page":11,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-4-b"},{"clause":"4(a)","heading":null,"page":11,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-4-a-2"},{"clause":"4(b)","heading":null,"page":11,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-4-b-2"}],"law":[{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.1 to 26.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 26.4 and 26.5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 27","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.3","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.16 and 1.17","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(1) to (3)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(4) and (5)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(A)(a)(6) to (9)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 4(B)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 2(A)(vi)(c)(V)","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"paid_up","label":"Paid-up value","section":"Renewal and rights","meaning":"What cover continues if you stop paying premiums after a few years.","status":"quote-verified","value":"If at least one full year’s premium has been paid and later premiums are not paid, on completion of the first policy year the policy continues as a paid-up policy until the end of the term. Death Sum Assured, Maturity Sum Assured, Regular Income Benefit and Booster Income Benefit are reduced by the ratio of the premium-paid period to the original premium-paying period, with accrued Guaranteed Additions for paid-up policy.","display":"Paid-up after at least one full year’s premium and completion of first policy year; benefits reduced by premium-paid ratio","note":"Riders do not acquire paid-up value.","quote":"If after atleast one full year’s premium(s) has been paid in respect of this policy and any subsequent premiums be not duly paid, on completion of first policy year, this policy shall not be wholly void, but shall subsist as a paid-up policy till the end of the policy term . ... The Sum Assured on Death under a paid-up policy shall be reduced to such a sum, called ‘Death Paid-up Sum Assured’ ... The Sum Assured on Maturity under a paid-up policy shall be reduced to such a sum called ‘Maturity Paid-up Sum Assured’ ... The Regular Income Benefit under a paid-up policy shall be equal to Regular Income Benefit payable under in-force policy multiplied by the ratio ... The Booster Income Benefit under a paid-up policy shall be equal to Booster Income Benefits payable under in-force policy multiplied by the ratio","sources":[{"clause":null,"heading":"Non-forfeiture Regulations","page":9,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-non-forfeiture-regulations"}],"law":[]},{"key":"revival","label":"Revival period","section":"Renewal and rights","meaning":"How long after lapsing you can restart the policy.","status":"quote-verified","value":"A lapsed policy can be revived during the lifetime of the Life Assured, within the revival period and before maturity, by paying all premium arrears with interest and satisfying continued insurability. The revival period is five consecutive complete years from the date of first unpaid premium.","display":"5 consecutive complete years from the date of first unpaid premium","note":"Revival of riders is considered only with revival of the base policy, not in isolation.","quote":"Revival Period means the period of five consecutive complete years from the date of first unpaid premium, during which period the policyholder is entitled to revive the policy which was discontinued due to the non-payment of premium. ... A policy in lapsed condition may be revived during the life time of the Life Assured, but within the Revival period and before the Date of Maturity ... The revival shall be effected on payment of all the arrears of premium(s) together with interest","sources":[{"clause":"54","heading":"Revival Period","page":6,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-54"},{"clause":"3","heading":"Revival of lapsed Policies","page":11,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-3-4"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.1 and 40.1.2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.4","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.6","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 40.1.7","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.10","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.28","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.39","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"policy_loan","label":"Policy loan","section":"Renewal and rights","meaning":"Whether you can borrow against the policy.","status":"quote-verified","value":"Policy loan is available within the surrender value during the policy term after completion of the first policy year if one full year’s premium has been paid. During the premium-paying term, maximum loan is 50% before two full years’ premiums and 75% after two full years for in-force policies, and 40% before two full years and 65% after two full years for paid-up policies; after the premium-paying term it is subject to interest not exceeding 50% of Regular Income Benefit and a maximum of 65% of surrender value.","display":"Yes, after first policy year and one full year’s premium; up to 50%/75% of surrender value for in-force policies and 40%/65% for paid-up policies during PPT","note":"The 50%/75% and 40%/65% limits apply if loan is availed during the premium paying term, before or after payment of two full years’ premiums respectively.","quote":"Loan shall be available under the Policy, within the surrender value of the policy, during the policy term ... Loan can be availed after completion of first policy year provided one full year’s premium(s) has been paid. ... Under In-force policies | 50% | 75%\nUnder Paid-up policies | 40% | 65% ... subject to maximum of 65% of Surrender value.","sources":[{"clause":"5","heading":"Policy Loan","page":12,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-5-4"},{"clause":"5(i)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-5-i"},{"clause":"5(a)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-5-a"},{"clause":"5(b)","heading":null,"page":12,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-5-b"}],"law":[]},{"key":"riders_available","label":"Riders available","section":"Cover","meaning":"Optional add-ons such as accidental death, critical illness or waiver of premium.","status":"quote-verified","value":["LIC’s Accidental Death and Disability Benefit Rider","LIC’s Accident Benefit Rider","LIC’s New Term Assurance Rider","LIC’s Premium Waiver Benefit Rider","LIC’s Critical Illness Health Rider"],"display":"Five optional riders: Accidental Death and Disability Benefit, Accident Benefit, New Term Assurance, Premium Waiver Benefit, Critical Illness Health","note":"No rider is available for policies procured through POSP-LI/CPSC-SPV.","quote":"The following five optional rider(s) (or amended versions of these rider(s)) shall be available on payment of additional premium: ... a) LIC’s Accidental Death and Disability Benefit Rider ... b) LIC’s Accident Benefit Rider ... c) LIC’s New Term Assurance Rider ... d) LIC’s Premium Waiver Benefit Rider ... e) LIC’s Critical Illness Health Rider","sources":[{"clause":"2","heading":"Rider Benefits","page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-2-3"},{"clause":"2(a)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-2-a"},{"clause":"2(b)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-2-b"},{"clause":"2(c)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-2-c"},{"clause":"2(d)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-2-d"},{"clause":"2(e)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-2-e"}],"law":[]},{"key":"section45","label":"Claims after 3 years (Section 45)","section":"Claims","meaning":"After 3 years a life policy cannot be questioned on any ground, and only for fraud with proof before that.","status":"quote-verified","value":"No life insurance policy can be called in question on any ground after three years from the later of issuance, commencement of risk, revival or rider date. Within three years it may be questioned for fraud, or for a material misstatement or suppression with written grounds and materials; non-fraud repudiation requires refund of premiums collected within ninety days.","display":"No questioning after 3 years; within 3 years only as stated for fraud or material misstatement/suppression","note":null,"quote":"No policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date of the policy, i.e. from the date of issuance of the policy or the date of commencement of risk or the date of revival of the policy or the date of the rider to the policy, whichever is later. ... A policy of life insurance may be called in question at any time within three years ... on the ground of fraud ... A policy of life insurance may be called in question at any time within three years ... on the ground that any statement of or suppression of a fact material to the expectancy of the life of the insured was incorrectly made ... the premiums collected on the policy till the date of repudiation shall be paid ... within a period of ninety days","sources":[{"clause":"1","heading":null,"page":20,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-1-8"},{"clause":"2","heading":null,"page":20,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-2-8"},{"clause":"4","heading":null,"page":20,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-4-8"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 45","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Para 10","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.6","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"tax_note","label":"Tax note in the document","section":"Premium","meaning":"What the document says about tax benefits. Not stated when it only says taxes are charged on the premium. Tax law changes; confirm separately.","status":"quote-verified","value":"The sales brochure says to consult a tax advisor for income tax benefits and implications on premiums paid and benefits payable under the plan.","display":"Consult your tax advisor for income tax benefits/implications","note":"From the sales brochure.","quote":"Regarding Income tax benefits/implications on premium(s) paid and benefits payable under this plan, please consult your tax advisor for details.","sources":[{"clause":"18","heading":"Taxes","page":32,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11880#c-18"}],"law":[]},{"key":"free_look","label":"Free-look period","section":"Renewal and rights","meaning":"Days after you receive the policy in which you can return it for a refund if you do not agree with its terms.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days","note":"Refund is after deductions for proportionate risk premium, medical examination expenses and stamp duty charges.","quote":"During the Free Look period of 30 days from the date of receipt of the electronic or physical mode of Policy Document, whichever is earlier, by the Policyholder, if the Policyholder is not satisfied with the Terms and Conditions of the policy, he/she may return the policy","sources":[{"clause":"7","heading":"Free look period","page":13,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-7-4"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 5","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(1), 20(2)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, II.8","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grace_period","label":"Grace period","section":"Renewal and rights","meaning":"Days you get after the due date to pay without losing cover or continuity.","status":"quote-verified","value":{"unit":"days","amount":30},"display":"30 days for yearly, half-yearly or quarterly premiums; 15 days for monthly premiums","note":"The 15-day grace period applies to monthly premium mode.","quote":"A grace period of 30 days shall be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly premiums from the date of First Unpaid Premium.","sources":[{"clause":"7","heading":"Grace Period","page":9,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-7-3"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 50","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 8","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 9","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 8","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule I, Para 1.2","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 1.3","url":"https://indiainsurances.com/law/irdai-products-regs-2024"}]},{"key":"eligibility_entry_age","label":"Entry age","section":"Eligibility","meaning":"The youngest and oldest age at which you can buy this policy.","status":"quote-verified","value":"Entry age depends on premium paying term: for 7-year PPT, 11 to 55 years; 10-year PPT, 8 to 55 years; 12-year PPT, 6 to 53 years; 15-year PPT, 3 to 50 years; 18-year PPT, 30 days to 47 years.","display":"Minimum 30 days; maximum 55 years, depending on PPT","note":"From the sales brochure. For POSP-LI/CPSC-SPV, maximum age at entry is 65 years (nbd) minus policy term.","quote":"7 | 11 years (last birthday) | 55 years (nearer birthday) ... 10 | 8 years (last birthday) | 55 years (nearer birthday) ... 12 | 6 years (last birthday) | 53 years (nearer birthday) ... 15 | 3 years (last birthday) | 50 years (nearer birthday) ... 18 | 30 days (completed) | 47 years (nearer birthday) ... Maximum Age at Entry: 65 years (nbd) minus Policy Term.","sources":[{"clause":"2(a)","heading":null,"page":3,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11880#c-2-a"},{"clause":"12","heading":"Plan purchased through Point of Sales Person – Life","page":19,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11880#c-12"}],"law":[]},{"key":"premium_modes","label":"Premium payment options","section":"Premium","meaning":"How often you can pay: yearly, half-yearly, quarterly, monthly.","status":"quote-verified","value":["yearly","half-yearly","quarterly","monthly intervals","salary deductions (SSS)"],"display":"Yearly, half-yearly, quarterly, monthly intervals or salary deductions (SSS)","note":"From the sales brochure. Monthly premiums are through e-NACH/NACH only.","quote":"Premiums can be paid regularly with mode of premium payment as yearly, half-yearly, quarterly or monthly intervals (monthly premiums through e-NACH/NACH\nonly) or through salary deductions (SSS).","sources":[{"clause":"6","heading":"Payment of Premiums","page":15,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11880#c-6"}],"law":[]},{"key":"premium_type","label":"Premium payment type","section":"Premium","meaning":"Single premium, regular premium (every year of the term) or limited premium (fewer years than the term).","status":"quote-verified","value":["Limited Premium payment plan"],"display":"Limited Premium payment plan","note":"From the sales brochure.","quote":"This is a Limited Premium payment plan with accrual of Guaranteed Additions during the Premium Paying Term (PPT).","sources":[{"clause":null,"heading":"LIC’s BIMA PLATINUM","page":2,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11880#c-lics-bima-platinum"}],"law":[]},{"key":"guaranteed_benefits","label":"Guaranteed benefits","section":"Cover","meaning":"What is guaranteed, in rupees or as a formula, regardless of the insurer's performance.","status":"quote-verified","value":"Guaranteed Additions accrue during the premium-paying term at Rs. 70 per thousand Total Annualized Premium in respect of Premiums Paid. Other guaranteed formulas include Regular Income Benefit equal to 10% of Basic Sum Assured, Booster Income Benefit equal to 70% of Basic Sum Assured on specified policy anniversaries, Sum Assured on Maturity equal to Basic Sum Assured, and death benefit as defined in the policy.","display":"Guaranteed Additions Rs. 70 per thousand Total Annualized Premium during PPT; Regular Income 10% of BSA; Booster Income 70% of BSA; Maturity Sum Assured equals BSA","note":"Guaranteed Additions stop accruing after the Premium Paying Term.","quote":"The Rate of Guaranteed Additions for an in-force policy shall be Rs. 70 per thousand Total Annualized Premium in respect of Premiums Paid. ... Regular Income Benefit equal to 10% of the Basic Sum Assured shall be payable. ... a Booster Income Benefit equal to 70% of Basic Sum Assured shall be payable. ... “Sum Assured on Maturity” is equal to Basic Sum Assured.","sources":[{"clause":"5","heading":"Guaranteed Additions for In-force policy","page":8,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-5-3"},{"clause":"1(i)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-1-i"},{"clause":"1(ii)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-1-ii"}],"law":[]},{"key":"bonus","label":"Bonus type","section":"Cover","meaning":"Participating plans share profits as bonuses; these are NOT guaranteed.","status":"quote-verified","value":"This is a non-par product and is not entitled to discretionary benefits like bonus or share in surplus.","display":"No bonus; not entitled to discretionary benefits or share in surplus","note":"From the sales brochure.","quote":"This is a Non-Par product under which benefits payable on death or survival are guaranteed and fixed irrespective of actual experience. Hence the policy is not entitled to any discretionary benefits like bonus etc. or share in Surplus.","sources":[{"clause":null,"heading":"LIC’s BIMA PLATINUM","page":2,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11880#c-lics-bima-platinum"}],"law":[]},{"key":"illustration_returns","label":"Illustrated returns","section":"Cover","meaning":"The benefit illustration at the IRDAI rates (4% and 8%); not a promise.","status":"not-stated","value":null,"display":null,"note":"The clauses include a sample benefit illustration, but do not print the IRDAI 4% and 8% illustrated return rates for this product.","quote":null,"sources":[],"law":[]},{"key":"money_back","label":"Survival or money-back payouts","section":"Cover","meaning":"Instalments paid during the term.","status":"quote-verified","value":"Regular Income Benefit equal to 10% of Basic Sum Assured is payable first at the end of the Premium Paying Term and then after each subsequent policy year until survival or the policy anniversary before maturity. Booster Income Benefit equal to 70% of Basic Sum Assured is payable on the specified policy anniversary: 12th, 15th, 17th, 20th or 23rd policy anniversary for PPTs 7, 10, 12, 15 or 18 years respectively.","display":"Regular Income Benefit 10% of Basic Sum Assured each year during payout period; Booster Income Benefit 70% of Basic Sum Assured on specified policy anniversary","note":"The policyholder can opt to defer Regular Income Benefit and/or Booster Income Benefit.","quote":"Regular Income Benefit equal to 10% of the Basic Sum Assured shall be payable. The first Regular Income Benefit shall be payable at the end of the Premium Paying Term, and thereafter on completion of each subsequent Policy Year till the Life Assured survives or till the policy anniversary prior to the date of maturity, whichever is earlier. ... a Booster Income Benefit equal to 70% of Basic Sum Assured shall be payable. The specified policy anniversary for various premium paying terms is as follows:\nPremium Paying Term | Policy anniversary on which the Booster Benefit is payable\n7 years | 12th policy anniversary\n10 years | 15th policy anniversary\n12 years | 17th policy anniversary\n15 years | 20th policy anniversary\n18 years | 23rd policy anniversary","sources":[{"clause":"1(i)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-1-i"},{"clause":"1(ii)","heading":null,"page":7,"url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873#c-1-ii"}],"law":[]}],"documents":[{"kind":"wording","label":"Policy Document","pages":22,"fetched_at":"2026-10-17 19:50:22+00","source_url":"https://licindia.in/documents/20121/1860176/Final_Policy+Document+LIC%27s+Bima+Platinum.pdf/9235a4a2-d3c7-0c4c-72e2-6c6f05c22603?t=1788330356571","url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11873"},{"kind":"cis","label":"CIS LIC’s Bima Platinum","pages":7,"fetched_at":"2026-10-17 19:50:02+00","source_url":"https://licindia.in/documents/20121/1860176/CIS_LICs+Bima+Platinum.pdf/7840334c-26e3-ba8a-2a4c-f807b4954ef7?t=1788330334383","url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11860"},{"kind":"brochure","label":"Sales Brochure","pages":44,"fetched_at":"2026-10-17 19:50:33+00","source_url":"https://licindia.in/documents/20121/1860176/LIC+Bima+platinum+Sales+brochure.pdf/ae9590c9-2c2d-6dca-c180-5bbb3f956dab?t=1788330413553","url":"https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01/document/11880"}],"versions":[],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"LIC official website","url":"https://www.licindia.in/","note":"Buy directly from the insurer."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"insurer","name":"Claims settlement requirements","url":"https://licindia.in/web/guest/claims-settlement-requirements","note":null},{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"insurer","name":"Grievance redressal","url":"https://licindia.in/web/guest/grievances","note":null},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"LIC’s Bima Platinum (UIN 512N397V01), IndiaInsurances, https://indiainsurances.com/policy/lic/lics-bima-platinum-512n397v01"}