LIC Bima Kavach – Plan 887 is a pure term insurance plan designed to provide maximum life protection at an affordable premium. The plan focuses entirely on financial security for the policyholder’s family in the event of an untimely death during the policy term. With no savings or investment component, Bima Kavach ensures high coverage at a comparatively low cost, making it an ideal protection-focused life insurance solution.
In today’s world, financial responsibilities such as family expenses, children’s education, housing loans, and personal liabilities continue to grow. LIC Bima Kavach is designed to address these concerns by acting as a financial safety net. In case the earning member of the family passes away unexpectedly, the plan ensures that dependents receive a lump sum amount to maintain their lifestyle and meet future obligations without financial distress.
✔ Family Income Protection: Replaces lost income of the policyholder.
✔ Loan Repayment Support: Helps clear home, education, or personal loans.
✔ Education Security: Ensures children’s education continues without compromise.
✔ Low Cost – High Value: Maximum protection at minimum premium.
✔ Peace of Mind: Confidence that family is financially secure.
The policyholder selects the policy term and sum assured at the time of purchase. Once the policy is issued, life cover starts immediately. The policy remains active as long as premiums are paid regularly.
If the policyholder survives the policy term, no amount is paid at maturity. However, if death occurs during the policy term, the nominee receives the full sum assured as a lump sum, ensuring immediate financial support.
Example 1: Young Salaried Individual
Approx Annual Premium: ₹4,000 – ₹5,500
If death occurs anytime during policy term, nominee receives ₹50 lakhs as lump sum.
Example 2: Married Professional with Home Loan
Approx Annual Premium: ₹10,000 – ₹13,000
Premium depends on age, health condition, smoking habits, and chosen policy term.
Premiums paid are eligible for deduction under Section 80C of the Income Tax Act.
Death benefit received by nominee is fully tax-free under Section 10(10D).
✔ Young professionals starting careers
✔ Married individuals with dependents
✔ Parents with children
✔ Individuals with home or personal loans
✔ Anyone seeking low-cost, high protection
Advantages: Affordable premiums, high coverage, simple structure, LIC trust.
Limitation: No maturity or survival benefit (pure protection plan).
LIC Bima Kavach – Plan 887 is an excellent choice for individuals who prioritize protection over savings. It delivers exactly what a term insurance plan should—high life cover at an affordable price—ensuring that families are financially secure during life’s most uncertain moments.
If your goal is to safeguard your loved ones, protect future goals, and ensure peace of mind with the reliability of LIC, Bima Kavach stands out as a strong, dependable, and cost-effective life insurance solution.