BIMA BACHAT PLAN
LIC Bima Bachat Plan (Plan No. 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 OF BIMA BACHAT 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
- 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
- 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 OF BIMA BACHAT PLAN
| 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 |
| 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 |