Lic New Bima Bachat Plan No 816

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LIC’s New Bima Bachat Plan
Benefits
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 loyalty

with loyalty addition less extra

addition less Taxes and extra premiums

premiums ,if any.

,if any

Death Claim Benefit
Payment of Sum Assured

Death Claim Benefit
First 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

SURVIVAL BENEFIT
(as a percentage of Sum Assured )

Year->
Term
↓

No Change
in SB

3RD

6TH

9TH

12TH

9

15%

15%

MAT

12

15%

15%

15%

MAT

15

15%

15%

15%

15%

15th

MAT


Eligibility Conditions and Restrictions
Description
Particulars

Age at
entry
Age at
Maturity
Policy
Term

Plan No 175
Bima Bachat
15 to 66 years
irrespective of the
policy term

Plan No. 816 New
Bima Bachat
Minimum

15
years

Maximum
75 Years

Maximum
Term = 9

Term = 12

Term = 15

66 yrs

63 yrs

60 yrs

Maximum 75 Years

9 , 12 and 15
years

9 , 12 and 15 years
Minimum

Basic
Sum
Assured

Minimum 20000
and in multiple of
Rs 5000 No upper
limit

Age at Entry
and SA based
on policy term

Term = 9

35000

Term = 12

50000

Maximum
Term = 15

Term =
9/12/15

70000

No upper Limit
SA shall be in
multiple of
Rs.5000



H igh Sum Assured RebatE
New Bima Bachat
Plan
Bima Bachat Plan No. 175

Policy
Term

Sum Assured
Band

Less than
50000

Policy
term –
9,12 and
15 years

50000 and
less than
100000
100000 and
less than
200000
200000
And above

% of
T
abul
ar
premi
um

Policy
Term

816

Sum Assured Band

% of
T
abular
Premium

Less than 75000

7%

8%

15
years

Nil

100000 and less than
200000

4%
6%

Less than 150000

12
years

8%

200000 and above

5%

6%

Less than 100000

Nil

75000 to less than
150000
150000 and above

9
years

Nil

Nil

150000 and less than
300000

3%

300000 and above

5%



Surrender Value
LIC s Bima Bachat
’
Plan No 175

Available after completion of 1 year.

LIC s Bima Bachat
’
Plan No. 816

Available at any time during the policy
term subject to realisation of the
premium cheque.

No Loyalty Addition payable.

No Loyalty Addition payable.

Higher of GSV or SSV payable

SV available
at any time.

Higher of GSV or SSV payable

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.

Special Surrender Value (SSV)

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

Guaranteed Surrender Value (GSV)

1st Year ~ 70% of Single Premium
excluding taxes and extra
premium,if any.
Thereafter ~ 90% of Single Premium
excluding all Survival Benefits paid
earlier, taxes and
extra premium, if any.
Special Surrender Value (SSV)

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


GSV
modified


LIC’s New Bima Bachat Plan - Loan
Loan ~ Modified

LIC’s Bima Bachat

LIC’s Bima Bachat

Plan No 175

Plan No. 816

Loan available after payment of first

Loan facility available after

premium.

completion of 1 policy year

Loan can be granted upto 90% of the

Loan can be granted upto 60% of

Special Surrender Value

Surrender Value.



Table No 175 Bima
Bachat Plan
Service Tax was borne by the
corporation.

Table No 816 New
Bima Bachat Plan
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 Dating
Paid-up Value
Assignment/Nomination



THANK YOU…


Lic New Bima Bachat Plan No 816

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