New Bima Bachat plan Plan 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. LICs New Bima Bachat Plan Benefits Death Benefit Modified
Year-> Term SURVIVAL BENEFIT (as a percentage of Sum Assured ) 3 RD 6 TH 9 TH 12 TH 15th 9 15% 15% MAT XXX 12 15% 15% 15% MAT 15 15% 15% 15% 15% MAT LICs 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 175 Bima Bachat Plan No. 816 New Bima Bachat Age at entry 15 to 66 years irrespective of the policy term Minimu m Maximum 15 years Term = 9 Term = 12 Term = 15 66 yrs 63 yrs 60 yrs Age at Maturity Maximum 75 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 Maximum Term = 9 Term = 12 Term = 15 Term = 9/12/15 35000 50000 70000 No upper Limit SA shall be in multiple of Rs.5000 LICs New Bima Bachat Plan Eligibility Conditions and Restrictions Age at Entry and SA based on policy term New Bima Bachat Plan 816 Policy Term Sum Assured Band % of Tabular Premium 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% LICs New Bima Bachat Plan High Sum Assured RebatE Bima Bachat Plan No. 175 Policy Term Sum Assured Band % of Tabula r premi um Policy term 9,12 and 15 years Less than 50000 Nil 50000 and less than 100000 5% 100000 and less than 200000 7% 200000 And above 8% LICs Bima Bachat Plan No 175 LICs Bima Bachat Plan 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. 1 st 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. LICs New Bima Bachat Plan Surrender Value SV available at any time. GSV modified LICs Bima Bachat Plan No 175 LICs 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. LICs New Bima Bachat Plan - Loan Loan ~ Modified 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 Dating Paid-up Value Assignment/Nomination LICs New Bima Bachat Plan