LIC’S NEW BIMA BACHAT (TABLE NO.916)
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
- One Time Investment
- Fixed Money Back On Regular Intervals
- 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.
|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