LIC's New Bima Bachat (TABLE NO.816)

LIC BIMA BACHAT is a single premium endowment money back  plan.This plan launched on 07 JANUARY 2014. In this plan policy holder will have to pay single premium and will get 15% of basic sum assured as a money back  at the end of every 3rd year during the policy term. If the policy holder survives the entire term of the plan , the single premium paid along with loyalty additions will be given to the policy holder at the time of maturity.

 

WHY TAKE THIS PLAN

1. One Time Investment

2. Fixed Money Back On Regular Intervals

3. Tax Rebate On 80c

 

BENEFITS OF PLAN:

ON DEATH : If insured dies before 5 year during the term nominee will get SUM ASSURED , But if insured dies during the term or after five year nominee will get SUM ASSUERD + LOYALTY ADDITIONS.

ON SURVIVAL : 15% of basic sum assured as a money backs start from the 3rd policy year and are payable every 3 year and also will get maturity ( sum assured + loyalty addition) at the end of the policy term.

LOYALTY ADDITIONS : Loyalty addition are paid on maturity , it depends on company performance loyalty addition have been paid after completion of policy term or death provided that the policy has completed at least 5 years.

 

PLAN PARAMETERS

 

Minimum

Maximum

Entry Age (Nearest Birthday)

15 years

For Term 9 years - 66 years
For Term 12 years – 63 years
For Term 15 years – 60 years

Maturity Age (Nearest Birthday)

NA

75 years

Plan Term

9, 12 or 15 years

Premium Payment Term

Single Pay

Sum Assured

For Term 9 years –Rs. 35,000
For Term 12 years – Rs. 50,000
For Term 15 years – Rs. 75,000

No Limit

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