Bima Bachat

Bima Bachat

(Single Premium Money Back Plan)

Table No. 175

LIC’s Bima Bachat is a single premium money back type plan. This is the best form of life assurance for family provision since it enables the life assured to pay the premiums only once relieving him from the necessity of making payments later. Under this plan, a part of sum assured is paid to the policy holder periodically and on maturity, Single Premium paid under the policy is paid back along with Loyalty Additions, if any. The plan also provides for payment of Sum Assured in case of earlier death irrespective of whether or not any survival benefits have been paid earlier.

The shorter premium paying term helps the policy holder to restrict the payment of premium to his productive years and simultaneously continue the life risk cover to desired age, depending on the needs of the family. The survival benefit received may be reinvested, If not required at that moment, in any safe and high interest yielding investments so that one can have handsome amount at the end of the policy term.

Benefits

Survival Benefits:

The following table shows the survival benefit payable for different policy terms:

Sum Assured	Rebate (% of Basic Premium)
Up to Rs.49,000	Nil
Rs.50,000 to Rs.99,000	5%
Rs.1,00,000 to 1,99,000	7%
Rs. 2,00,000 and above	8%

  

ü  Minimum Sum Assured - Rs. 20,000/- and in multiple of Rs. 5,000

ü  No Maximum Limit

ü  Minimum age at entry - 15 years (Completed)

ü  Maximum age at entry - 66 years (nearer birthday)

ü  Maximum age at maturity -75 years (nearer birthday)

ü  Term - 9, 12 and 15 Years

ü  Loan Available

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