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Introduction

This policy is a very unique one where the assured sum of money is given on the unfortunate demise of the person or a certain amount of money at regular intervals until the maturity period ends. LIC Bima Bachat Plan (T-916) is a Single Premium with Profits Money Back Type Plan. Policy Term Available Are 9 Year, 12 Year & 15 Year.

Why Bima Bachat Plan

It gives you survival benefits along with the assured sum when the policyholder dies, unfortunately.

Key Features

When you need a loan, there is a liquidity feature that comes with the plan.

  • Cover age group from 15 Years to 50 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.

Death Benefits

You will receive the sum assured as well as the loyalty addition, in some cases.

  • 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.

Survival Benefits

You will be getting 15% of the sum assured every three years till the end of your insurance or till the policyholder dies, unfortunately.

  • 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.

Maturity Benefits

If the policyholder is alive at the end of the policy term, the premium amount is payable excluding the taxes.

Eligibility Criteria:
Minimum Age to Apply 15 Years (Completed)
Maximum Age to Apply 50 Years for 9 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
 
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