LIC Bima Diamond (Plan 841) is a withdrawn limited-premium money back plan with 16, 20 or 24-year terms and 10, 12 or 15 years of premiums. It returns 12% to 15% of the sum assured every four years, the rest at maturity plus any loyalty addition, and gives 50% cover for half the term after maturity. On our estimate, a 30-year-old paid about ₹37,250 a year for ₹5 lakh over 20 years.
Bima Diamond 841 Money Back & Maturity Calculator
Your estimate
estimate
- Premium per instalment
- ₹37,250
- Premium paying term
- 12 years
- Total premium paid
- ₹4,47,000
- Survival benefits (money back)15% of SA in years 4, 8, 12, 16
- ₹75,000
- Estimated maturity amount40% of SA + loyalty addition
- ₹2,00,000
- Sum assured on deathplus loyalty addition after 5 years; money backs paid are not deducted
- ₹5,00,000
- Extended cover after maturity50% of SA till age 60, no premium
- ₹2,50,000
- Age at maturity
- 50 years
- Total premium paid₹4,47,00089%
- Net gain₹53,00011%
Money back and maturity schedule
| Policy year | Age at entry | Premium paid so far | You get |
|---|---|---|---|
| 4 | 34 years | ₹1,49,000 | ₹75,000 |
| 8 | 38 years | ₹2,98,000 | ₹75,000 |
| 12 | 42 years | ₹4,47,000 | ₹75,000 |
| 16 | 46 years | ₹4,47,000 | ₹75,000 |
| 20 | 50 years | ₹4,47,000 | ₹2,00,000 |
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC Bima Diamond Plan 841?
LIC Bima Diamond (Plan No. 841) is a non-linked money back plan with a limited premium term. It combines life cover, regular cash-backs every four years, a lump sum at maturity and a feature few LIC plans offer: extended cover after maturity. The plan was sold for a limited period and is now withdrawn. This page is for existing policyholders who want to check when their money backs fall due and what the family is covered for.
Bima Diamond 841 at a glance
| Feature | Details |
|---|---|
| Plan number | 841 |
| Plan type | Non-linked, limited premium money back |
| Policy term / premium term | 16 / 10, 20 / 12, 24 / 15 years |
| Entry age | 14 years up to 50 (16-yr), 45 (20-yr), 41 (24-yr) |
| Sum assured | ₹1,00,000 to ₹5,00,000 (multiples of ₹10,000) |
| Money back | Every 4 years (12% to 15% of SA) |
| Extended cover | 50% of SA for half the term after maturity |
| Premium modes | Yearly, half-yearly, quarterly, monthly (ECS) |
| Loan | After 3 full years’ premium |
| Status | Withdrawn |
Money back and maturity schedule
| Term | Money back years | Each payout | At maturity |
|---|---|---|---|
| 16 years | 4, 8, 12 | 15% of SA | 55% of SA + loyalty addition |
| 20 years | 4, 8, 12, 16 | 15% of SA | 40% of SA + loyalty addition |
| 24 years | 4, 8, 12, 16, 20 | 12% of SA | 40% of SA + loyalty addition |
In every case the payouts add up to 100% of the sum assured, and the loyalty addition comes on top.
Premium and a worked example
The source material had no premium table. It asked users for their premium. You can do the same: type the yearly premium from your policy bond. If you leave it at 0, the calculator uses an estimated rate anchored to the published example of ₹30,000 a year for a 25-year-old with ₹5 lakh over 24 years.
Example: a 30-year-old man, ₹5 lakh sum assured, 20-year term.
- Estimated premium: about ₹37,250 a year for 12 years, a total of ₹4,47,000.
- Money back: ₹75,000 in years 4, 8, 12 and 16 (₹3 lakh in all).
- Maturity at 50: ₹2,00,000 plus loyalty addition. At an assumed ₹150 per ₹1,000, the total returns reach ₹5,75,000.
- Extended cover: ₹2,50,000 until age 60, with no further premium.
A 25-year-old on the 24-year term pays about ₹30,000 a year, or ₹2,625 a month by ECS, for 15 years.
Tip: without a loyalty addition, the guaranteed payouts (₹5 lakh) are only slightly more than the premiums (₹4.47 lakh). The real value of this plan lies in the life cover, the loyalty addition and the extended cover. Keep it in force rather than surrendering early.
Death benefit
If death occurs during the term, the nominee receives the sum assured on death: the highest of 10 times the annualised premium, the sum assured on maturity or the basic sum assured. It is never less than 105% of premiums paid, and the loyalty addition is added after five policy years. Money backs already paid are not deducted. After maturity, the extended cover pays 50% of the basic sum assured.
Loan, surrender and tax
A loan is available after three years’ premiums. Surrendering early usually returns less than you paid, so check the LIC surrender value calculator first. Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime). Money backs, maturity and death claims are generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)). From 22 September 2025, premiums carry no GST. Earlier receipts included 4.5% in the first year and 2.25% after.
Bima Diamond vs current money back plans
New buyers who like Bima Diamond’s pattern of regular payouts and a short premium term can look at LIC’s current money back plans, such as New Money Back 720. Check each plan’s own payout schedule, because the post-maturity extended cover was a Bima Diamond feature. If you are comparing policies, the money back policy calculator lets you test other combinations.
Frequently asked questions
Can I buy LIC Bima Diamond 841 today?
No. Bima Diamond was offered for a limited period and is closed to new buyers. Existing policies continue with all money backs, maturity and extended cover. For a new money back policy, look at LIC's current plans, such as New Money Back 720.
When are the money backs paid under Bima Diamond?
Every fourth policy year. A 16-year policy pays 15% of the sum assured in years 4, 8 and 12. A 20-year policy pays 15% in years 4, 8, 12 and 16. A 24-year policy pays 12% in years 4, 8, 12, 16 and 20.
How much do I get at maturity in Bima Diamond 841?
The balance of the sum assured: 55% on a 16-year policy and 40% on a 20 or 24-year policy, plus any loyalty addition LIC declares. For ₹5 lakh cover over 20 years, that is ₹2 lakh plus loyalty addition, on top of ₹3 lakh already received as money backs.
What is the extended cover in Bima Diamond?
After maturity, the life stays covered for half the original term without paying anything more. If death happens in that period, the nominee receives 50% of the basic sum assured. On a 20-year policy taken at 30, this cover runs until age 60.
What is the death benefit in Bima Diamond 841?
The nominee receives the highest of 10 times the annualised premium, the sum assured on maturity or the basic sum assured, never less than 105% of premiums paid, plus loyalty addition after five years. Money backs already paid are not deducted.
Can I take a loan on my Bima Diamond policy?
Yes. According to the plan details we used, a loan is available once premiums have been paid for three full years. The amount depends on the surrender value at that time.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.