LIC Bima Kavach Plan 887 – Full Review

Financial protection is not just a choice anymore — it’s a necessity. And when it comes to trustworthy life insurance, LIC has always been the name Indians rely on. One of their most straightforward and affordable offerings is LIC Bima Kavach Plan 887 — a pure protection plan designed for those looking for simple, transparent, and powerful coverage without any investment complications.

What is LIC Bima Kavach Plan 887?

LIC Bima Kavach 887 is a:

• Non-linked

• Non-participating

• Pure term insurance plan

It gives financial protection to the family in case of the death of the policyholder during the term.

There are no maturity benefits, no bonuses, and no returns.
Just pure risk cover — simple and affordable.

Quick Summary Table – LIC Bima Kavach Plan 887

Key Features of LIC Bima Kavach Plan 887

Here are the standout features that make this plan attractive:

1. Super Affordable Premiums

Pure term plans are low-cost, and LIC Bima Kavach is one of the most affordable offerings in LIC’s portfolio.

2. Pure Life Cover – No Complications

No bonus, no guaranteed return — only 100% transparent life cover.

3. Flexible Policy Terms

Choose your coverage term from 5 to 25 years depending on your needs.

4. Riders Available

Enhance your cover with optional riders like:

• Accidental Death Benefit Rider

• Disability Benefit Rider

• Critical Illness Rider

5. Easy to Buy & Simple Underwriting

Medical tests according requirements

6. Tax Savings

Available under:

• 80C (premium deduction)

• 10(10D) (death benefits tax-free)

Quote

“A good insurance plan isn’t the one that pays the most — it’s the one that pays when your family needs it the most.”

LIC Bima Kavach does exactly that.

Benefits of LIC Bima Kavach Plan 887

Let’s decode the actual benefits you get with this plan:

1 Death Benefit (Main Benefit)

In case of the policyholder’s death during the policy term, the nominee receives the full sum assured.

This helps the family with:

• Paying debt

• Maintaining daily life expenses

• Children’s education

• Medical or emergency needs

2 Affordable Premiums

You get a higher sum assured at a lower cost, making it perfect for:

• Young earners

• Newly married couples

• Middle-income families

• First-time insurance buyers

3 Policy Customization

You can customize through:

• Policy term

• Premium modes

• Riders

• Sum assured

4 Loan Facility

A rare feature in term plans —
LIC allows a loan after surrender value builds.

5 Tax Benefits

Save taxes under:

• 80C → Up to ₹1,50,000 deduction

• 10(10D) → Death claim tax-free

Eligibility Criteria (Simplified Table)

How to Buy LIC Bima Kavach Plan 887 (Step-by-Step)

Step 1: Choose Sum Assured

Decide how much cover you need (ideally 10–15 times of your annual income).

Step 2: Fill Application Form

Basic details like age, occupation, income & nominee details.

Step 3: Medical Checkup (if required)

Only for high-risk or large sum assured.

Step 4: Pay Premium

Select your preferred mode (monthly/quarterly/yearly).

Step 5: Policy Issued

Receive your policy bond & digital copy.

FAQs – LIC Bima Kavach Plan 887

Q1: Is there any maturity benefit?

No. It is a pure term plan → only death benefit, no maturity return.

Q2: Can I surrender the policy?

Yes, but surrender value is low since this is a pure risk cover.

Q3: Can NRIs buy this plan?

Yes, with some additional documentation.

Q4: What if I miss a premium?

You get a grace period:

• 15 days for monthly mode

• 30 days for other modes

Pros & Cons

✔ Pros

• Low premiums

• Simple and transparent

• Flexible terms

• Optional riders

• LIC’s strong claim settlement record

✘ Cons

• No maturity benefit

• No bonus

• Surrender value is low

Conclusion — Should You Buy LIC Bima Kavach Plan 887?

If you want:

• Affordable protection

• Simple terms

• LIC trust

• Financial security for family

• No investment complication

Then YES — this plan is perfect for you.

It is ideal for:

• Young professionals

• Married couples

• Families with dependents

• Anyone looking for pure risk cover

“Protect your present income today to safeguard your family’s future tomorrow.”

Others term insurance palns:

•  Saral Jeevan Bima Plan 859
•  Yuva Term Plan 875
•  Yuva Credit Life Plan 877
•  Bima Kavach Plan 887