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Thread: New BIMA BACHAT - LIC

  1. #1
    Join Date
    Nov 2009
    Posts
    76,596

    Default New BIMA BACHAT - LIC

    LIC New Bima Bachat Plan (Table 816) is a single premium Money Back Plan.In this plan the premium is paid only once. 15% of the Sum Assured is paid after every 3 years and the entire Single Premium paid plus Loyalty Additions is paid on Maturity. However, if the Life Insured dies within the policy tenure, the entire Sum Assured is paid irrespective of the amount of money paid as Survival Benefit.

    Features of LIC New Bima Bachat:


    Premium needs to be paid as lumpsum only once
    A money back equal to 15 % of Sum assured will be paid once in every 3 years
    Policy term can be 9yrs, 12 yrs or 15 yrs

    Benefits of LIC New Bima Bachat :

    Maturity Return Single Premium paid alonf with Loyalty Addition (if any) will be paid

    Money back Amount The return on every 3rd year for each policy term is:

    15% of the Sum Assured is paid at the end of the 3rd and 6th year for Policy Term of 9 years
    15% of the Sum Assured is paid at the end of the 3rd, 6th and 9th year for Policy Term of 12 years
    15% of the Sum Assured is paid at the end of the 3rd, 6th, 9th and 12th year for Policy Term of 15 years

    Death Benefit


    On death before 5 Yrs, Sum assured will be paid
    On death after 5 yrs, Sum Assured with Loyalty Additions (if any) will be paid


    Income Tax Benefit Available under Section 80 C for premiums paid and Section 10 (10D) for Maturity returns
    Loan on Policy - Available after completion of 1 policy Year.
    Housing Loan Surity- Available



    Keywords: New BIMA BACHAT ,LIC New Bima Bachat Plan ,single premium ,Money Back Plan,policy,Death Benefit,Income Tax Benefit,Housing Loan Surity

  2. #2
    Join Date
    Apr 2013
    Location
    Mumbai, India
    Posts
    408

    Default

    I have always Thought that and Also realized that LIC being a government plan is always safe and our money is secured

  3. #3
    Join Date
    Apr 2013
    Location
    Mumbai, India
    Posts
    408

    Default

    I have always Thought that and Also realized that LIC being a government plan is always safe and our money is secured

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