New Bima Bachat Plan (T-816)

New Bima Bachat Plan (T-816)

LIC New Bima Bachat Plan is a single premium plan which provides money back to the policyholder at regular intervals. It’s a unique type of plan which can be described as a FD with money back plan as the client have to pay the premium only once and before maturity she / he also gets the money back every 3rd year.

LIC New Bima Bachat Plan – USP’s

Let’s check some unique selling points of New Bima Bachat Plan

Cover wide age group from 15 years to 66 years.

One time premium payment means no future premium burden.

Money back of 15% of sum assured every 3rd year.

Surrender of this policy is allowed at any time during the policy term.

Loan can be availed after completion of 1 year.

Policy Benefits Of LIC New Bima Bachat Plan:

Maturity Benefit:

Payment of Single Premium along with Loyalty Addition in case of Life Assured surviving to the end of the policy term.

Survival Benefit:

Payable as given below in case of Life Assured surviving to the end of the specified durations:

  • For policy term 9 years:15% of the Sum Assured at the end of each of 3rd & 6th policy year
  • For policy term 12 years:15% of the Sum Assured at the end of each of 3rd, 6th & 9th policy year
  • For policy term 15 years:15% of the Sum Assured at the end of each of 3rd, 6th, 9th & 12th policy year.

 

Death Benefits:

  • On death during the first five policy years: Sum Assured.

 

  • On death after completion of five policy years: Sum Assured along with Loyalty Addition, if any.

Eligibility Criteria Of LIC New Bima Bachat Plan:

         Minimum Age to Apply                  15 Years (Completed)
         Maximum Age to Apply              66 Years for 9 Year Term
             63 Years for 12 Year Term
             60 Years for 15 Year Term
         Maximum Maturity Age                            75 Years
                    Policy Term                       9,12 & 15 Years
          Premium Paying Mode                 Single Pemium Plan
         Minimum Sum Assured             35,000 for 9 Year Term
            50,000 for 12 Year Term
            70,000 for 15 Year Term
          Maximum sum Assured                          No Limits
                            Loan                        After 1 Year

 

LIC New Bima Bachat Plan

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