The LIC Bima Lakshmi Plan 881 is a women-exclusive life insurance and savings plan launched by the Life Insurance Corporation of India. It combines life protection, money-back benefits, and guaranteed returns. (Angel One)

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LIC Bima Lakshmi Plan – Details

1. Basic Information

• Plan Type: Non-linked, non-participating life insurance plan

• Who can buy: Only women

• Entry Age: 18 – 50 years

• Policy Term: 25 years

• Premium Paying Term: 7 to 15 years

• Minimum Sum Assured: ₹2,00,000

• Maximum Sum Assured: No limit (subject to LIC rules) (The Economic Times)

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2. Guaranteed Additions

• LIC gives Guaranteed Additions (GA) every year.

• Rate: 7% of the annual premium during the policy term.

• These additions increase the maturity and death benefits. (The Economic Times)

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3. Survival (Money-Back) Benefits

You can choose 3 payout options:

Option A

• 50% of Sum Assured paid after premium term ends

Option B

• 7.5% of Sum Assured every 2 years

Option C

• 15% of Sum Assured every 4 years (Angel One)

You can also delay (defer) the money-back payments if you want. (adda247)

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4. Maturity Benefit

At the end of 25 years, the policyholder receives:

• Sum Assured on Maturity

• + Guaranteed Additions

• Possible incentives for higher policies. (Angel One)

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5. Death Benefit

If the policyholder dies during the policy term:

Nominee receives:

• Sum Assured on death

• + Guaranteed Additions

• Minimum payout not less than 105% of total premiums paid. (Angel One)

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6. Special Riders (Optional)

Additional protection can be added:

• Accidental Death & Disability Rider

• Accident Benefit Rider

• Female Critical Illness Rider

  • Covers cancer, surgeries, pregnancy complications etc. (Angel One)

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7. Other Features

• Loan facility available

• Auto cover after 3 years of premiums

• Option to receive maturity in installments instead of lump sum. (The Economic Times)

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✅ Simple explanation:

• Premium pay 7–15 years

• Policy continues 25 years

• Get money-back during policy

• Get maturity amount + guaranteed additions

• Also provides life insurance cover.

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✅ If you want, I can also show:

• Example calculation (₹5 lakh or ₹10 lakh policy return)

• Difference between Jeevan Umang vs Jeevan Tarun vs Bima Lakshmi.