Lic New Bima Bachat Plan Table No 816

LIC launches new Bima Bachat Plan (Table No 816).

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

Maturity Benefit -Single Premium Paid along with loyalty addition less Taxes and extra premiums, if any

Death Benefit -

First 5 years:  Sum Assured shall be payable.

After completion of 5 years:  Sum Assured and Loyalty Additions, if any shall be payable.

SURVIVAL BENEFIT (as a percentage of Sum Assured)

Year >Term	3rd	6th	9th	12th	15th
9	15%	15%	Maturity	NA	NA
12	15%	15%	15%	Maturity	NA
15	15%	15%	15%	15%	Maturity

Eligibility Conditions and Restrictions

·         Age at entry - 15 years

·         Age at Maturity - Maximum 75 Years

·         Policy Term - 9 , 12 and 15 years

·         Premium mode – Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS)

·         

Basic Sum Assured –

	Min Term 9 Yrs.	Min Term 12 Yrs.	Min Term 15 Yrs.	Maximum Term – 9/12/15
Sum Assured	35000	50000	70000	No upper Limit SA shall be in multiple of Rs.5000
Maximum Age	66 years	63 years	60 years

Loan – Loan facility available after completion of 1 policy year.

Loan can be granted up to 60% of Surrender Value

Surrender Value-

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

·         No Loyalty Addition payable

·         Higher of GSV or SSV payable

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.



Lic New Bima Bachat Plan Table No 816 Premium Chart
Lic New Bima Bachat Plan Table No 816 Illustration

Related Plans :  LIC New Jeevan Anand Plan Table No - 815, LIC New Endowment Plan Table No - 814