LIC’s New Bima Bachat Plan

( Plan No. 816)

Bima Bachat PlanPlan No. 175

New Bima Bachat planPlan No. 816

Maturity Benefit Maturity Benefit

Single Premium Paid along

with loyalty addition less

extra premiums ,if any.

Single Premium Paid along with loyalty

addition less Taxes and extra premiums ,if

any

Death Claim Benefit Death Claim Benefit

Payment of Sum Assured First 5 years:

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 PlanBenefits

Death Benefit Modified

Year-

>

Term

↓

SURVIVAL BENEFIT

(as a percentage of Sum Assured )

3RD 6TH 9TH 12TH 15th

9 15% 15% MAT XXX

12 15% 15% 15% MAT

15 15% 15% 15% 15% MAT

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

Particulars

Description

Plan No 175Bima Bachat

Plan No. 816New Bima Bachat

Age at entry

15 to 66 years irrespective of the policy term

Minimum Maximum

15 years

Term = 9 Term = 12 Term = 15

66 yrs 63 yrs 60 yrs

Age at Maturity

Maximum75 Years Maximum 75 Years

Policy Term

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

Basic Sum Assured

Minimum 20000 and in multiple of Rs 5000 No upper

limit

Minimum MaximumTerm =

9 Term = 12

Term = 15

Term = 9/12/15

35000 50000 70000

No upper LimitSA shall be in

multiple of Rs.5000

LIC’s New Bima Bachat Plan Eligibility Conditions and Restrictions

Age at Entry and SA based on policy term

New Bima Bachat

Plan 816

PolicyTerm

Sum Assured Band

% of Tabular Premiu

m

9 years

Less than 75000 Nil

75000 to less than 150000 6%

150000 and above 8%

12 years

Less than 100000 Nil

100000 and less than 200000 4%

200000 and above 6%

15 years

Less than 150000 Nil

150000 and less than 300000 3%

300000 and above 5%

LIC’s New Bima Bachat Plan High Sum Assured RebatE

Bima Bachat Plan No. 175

Policy Term

Sum Assured Band

% of Tabul

ar premium

Policy term – 9,12 and 15 years

Less than 50000 Nil

50000 and less than 100000

5%

100000 and less than 200000

7%

200000And above 8%

High Sum

Assured rebate

based on Term

and SA Band

LIC’s Bima BachatPlan No 175

LIC’s Bima BachatPlan No. 816

Available after completion of 1 year. 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 Higher of GSV or SSV payable

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 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) 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 Surrender Value

SV available at any time.

GSV modified

LIC’s Bima Bachat

Plan No 175

LIC’s Bima Bachat

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 - LoanLoan ~ Modified

Table No 175Bima Bachat Plan

Table No 816New 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 Dating

Paid-up Value

Assignment/Nomination

LIC’s New Bima Bachat Plan

Thank You!