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PLAN FEATURES
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Minimum Age
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15 years (completed)
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Maximum Age
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50 years (nearest birthday)
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Maximum Maturity Age
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65 years (nearest birthday)
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Plan Term
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9 ,12 &15 years
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Premium Term
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1 year
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Single
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Minimum Sum Assured
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35000 - Basic Sum Assured shall be in multiples of
Rs.5000/-
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Maximum Sum Assured
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No Limit
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Rider Available
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Accidental Death &Disability / Accidental Death, Term
Rider
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Single Premium + Loyalty Addition
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Policy Surrender
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The policy can be surrendered at any time during the
policy term subject to realization of the premium
cheque.
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Loan On Policy
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Available after 1 years of premium payment
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Tax Benefit
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During first 5 years: Sum Assured
Thereafter: Sum Assured + Loyalty Addition (as
applicable)
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For policy term 9 years: 15% of the Sum Assured at 3
&6 policy year
For policy term 12 years: 15% of the Sum Assured at
3, 6 &9 policy year
For policy term 15 years: 15% of the Sum Assured at
3, 6, 9 &12 policy year
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Who can buy LIC NEW BIMA BACHAT ?
LIC New Bima Bachat Plan 916 is a non-linked, participating, savings plus protection plan. The premium under the New Bima Bachat plan is paid in a lump sum at the outset of the policy tenure. This money-back, saving plus protection plan offers financial protection to the family of the life assured in case of the untimely demise of the policyholder during the policy tenure
Why Should buy NEW BIMA BACHAT ?
Features
- LIC New Bima Bachat Plan is a savings plus protection plan
- It is a single-premium money-back plan
- At the time of maturity, single-premium is returned along with loyalty additions (if exist)
- As survival benefit, 15% of Basic Sum Assured is returned at the end of 3 years
- As maturity benefit, “Sum Assured on Maturity” along with loyalty benefits, if any, shall be payable
- As death benefit, Sum Assured is paid