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Bima Bachat (Plan 816)

LIC's Bima Bachat Plan is a single premium, non-linked, with profits Money Back type Plan.



Premium Payment Mode: Single Premium
Term :9, 12 & 15 Year

Minimum Entry Age : 15 Years

Maximum Entry Age :

If term is 9 yrs then 66yr (Nearest Birthday)
If term is 12 yrs then 63yr (Nearest Birthday)
If term is 15 yrs then 60yr (Nearest Birthday)

Minimum Sum Assured :

If term is 9 yrs then 35,000
If term is 12 yrs then 50,000
If term is 15 yrs then 70,000

Policy Benefits :

On Death :

During 1st five years policy years : Sum Assured only.
After completion of five policy years : Sum Assured + Loyalty Addition, if any.

On Survival :

For Policy Term of 9 years : 15% of SA, after 3rd & 6th policy year.
For Policy Term of 12 years : 15% of SA, after 3rd ,6th & 9th policy year.
For Policy Term of 15 years : 15% of SA, after 3rd ,6th,9th & 12th policy year.

At Maturity Time :

Single Premium Paid + Loyalty Additions, if any.

Surrendered Value :

The policy can be surrendered at any time during the policy term subject to realization of the premium cheque.

Guaranteed Surrender Value :

First year: 70% of the Single Premium excluding taxes and extra premium,if any.

Thereafter: 90%of the Single Premium excluding taxes, extra premium, if any and all survival benefits paid earlier.

Loan :

Loan facility is available under this plan at any time after completion of one policy year.

Income Tax Benefit :

• Premium paid under this plan is eligible for deduction under section 80C of Income Tax Act, 1961.