Lic New Bima Bachat Plan No 816

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LIC’s New Bima Bachat PlanBenefits

Bima Bachat Plan Plan No. 175

New Bima Bachat plan Plan No. 816

Maturity Benefit Maturity Benefit

Single Premium Paid along Single Premium Paid along with loyaltywith loyalty addition less

extra premiums ,if any.addition less Taxes and extra premiums,if any

Death Claim Benefit Death Claim Benefit

Payment of Sum Assured Fi rst 5 years:Death Benefit Modified

Sum Assured shall be payable. After completion of 5 years:

Sum Assured and Loyalty Additions, if any shall be payable.







LIC’s New Bima Bachat Plan - Benefits

There is no change in the percentage of Survival Benefit payable

under Bima Bachat – Plan 175 and New Bima Bachat Plan - 816

No Change in SB

SURVIVAL BENEFIT(as a percentage of Sum Assured )

Year->

Term↓ 3RD 6TH 9TH 12TH 15th

9 15% 15% MAT

12 15% 15% 15% MAT

15 15% 15% 15% 15% MAT







LIC’s New Bima Bachat PlanEligibility Conditions and Restrictions

DescriptionParticulars Plan No 175

Bima BachatPlan No. 816

New Bima Bachat

Age at entry

15 to 66 years irrespective of the policy term

Minimum

Maximum15

yearsTerm = 9 Term = 12 Term = 15

66 yrs 63 yrs

Maximum 75 Years

60 yrsAge at Maturity

Maximum 75 Years

Age at Entryand SA based on policy term

Policy Term

9 , 12 and 15 years 9 , 12 and 15 years

Minimum

Maximum

Basic Sum Assured

Minimum 20000 and in multiple of Rs 5000 No

upper limit

Term = 9 Term = 12 Term = 15 Term = 9/12/15

No upper Limit SA shall be in35000 50000 70000 multiple of

Rs.5000







HLIC’s New Bima Bachat Plan

igh Sum Assured RebatE

New Bima Bachat

Plan 816

Tabular Premium

Less than 75000 Nil

Bima Bachat Plan No. 175 Policy Term Sum Assured Band

% of

Policy Term

Sum Assured Band

% of Tabul

ar9 75000 to less than

years 150000 6%

150000 and above 8%

premi um

Less than 50000 Nil

12 100000 and less than years 200000

Less than 100000 Nil

4%Policy term –

50000 and less than 100000

5%

200000 and above 6%

15Less than 150000 Nil150000 and less than

9,12 and15 years

100000 and less than 200000

7%

years 300000 3%

300000 and above 5%200000

And above 8%







’ ’

LIC’s New Bima Bachat Plan Surrender Value

LIC s Bima BachatPlan No 175

LIC s Bima BachatPlan No. 816

Available after completion of 1 year.

Available at any time during the policyterm subject to realisation of the

SV availablepremium cheque.No Loyalty Addition payable. No Loyalty Addition payable.Higher of GSV or SSV payable Higher of GSV or SSV payable

at any time.

Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)GSV is equal to 90% of the single premium paid excluding extra premium and less amount of Survival benefits paid earlier.

1st Year ~ 70% of Single Premiumexcluding taxes and extra premium,if any.Thereafter ~ 90% of Single Premium excluding all Survival Benefits paid earlier, taxes and

GSVmodified

extra premium, if any.Special Surrender Value (SSV) Special Surrender Value (SSV)Discounted value of Single Premium paid excluding extra premium, if any.

Discounted value of Single Premium paid excluding taxes and extra premium,if any.







LIC’s New Bima Bachat Plan - LoanLoan ~ Modified

LIC’s Bima Bachat LIC’s Bima Bachat

Plan No 175 Plan No. 816

Loan available after payment of

first premium.

Loan facility available after

completion of 1 policy year

Loan can be granted upto 90% of

the Special Surrender Value

Loan can be granted upto 60% of

Surrender Value.







LIC’s New Bima Bachat Plan

Table No 175 Bima Bachat Plan

Table No 816 New Bima Bachat Plan

Service Tax was borne by the corporation.

Service Tax shall be applicable at the prevailing rates and borne by the policyholder as per rules.

There shall be no change in the following Items

Back DatingPaid-up Value

Assignment/Nomination









THANK YOU…





Date post:	17-Aug-2014
Category:	Economy & Finance
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Lic New Bima Bachat Plan No 816

Economy & Finance