New Bima Bachat Plan – 816
LIC’S has introducing New Bima Bachat (Table No. -816) a single Premium participating Money Back type plan on dated 07 January 2014. The Silent Feature of the plan are under:
- Cover age group from 15 Years to 66 years.
- Single Premium Plan Means No Future Premium Burden.
- Survival Benefits At Regular Interval (Every Three Year) Helps For Time To Time Expenses.
- Easy Liquidity Plan.
- The Policy Can Be Surrendered At Any Time During The Policy Term.
- Loan Facility Is Available Under This Plan After Completion Of One Policy Year.
Payment of Single Premium along with Loyalty Addition in case of Life Assured surviving to the end of the policy term.
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 Claim Benefit:
- 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.
|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 (Premium Payment Term)||9,12 & 15 Years|
|Minimum Sum Assured||35,000 for 9 Year Term|
|50,000 for 12 Year Term|
|70,000 for 15 Year Term|
|Premium Paying Mode||Single Premium Plan|
|Loan||After 1 year|
|Surrender||At Any Time|