Service Tax shall be applicable at the prevailing rates and borne by the policyholder as per rules.
LIC Bima Bachat Maturity Benefit -Single Premium Paid along with loyalty addition less Taxes and extra premiums, if any
LIC Bima Bachat Death Benefit -
First 5 years: Sum Assured shall be payable.
After completion of 5 years: Sum Assured and Loyalty Additions, if any shall be payable.
LIC Bima Bachat SURVIVAL BENEFIT (as a percentage of Sum Assured)
Year >Term
|
3rd
|
6th
|
9th
|
12th
|
15th
|
9
|
15%
|
15%
|
Maturity
|
NA
|
NA
|
12
|
15%
|
15%
|
15%
|
Maturity
|
NA
|
15
|
15%
|
15%
|
15%
|
15%
|
Maturity
|
Eligibility Conditions and Restrictions
· Age at entry - 15 years
· Age at Maturity - Maximum 75 Years
· Policy Term - 9 , 12 and 15 years
· Premium mode – Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS)
·
Basic Sum Assured –
Min Term 9 Yrs.
|
Min Term 12 Yrs.
|
Min Term 15 Yrs.
|
Maximum Term – 9/12/15
|
|
Sum Assured
|
35000
|
50000
|
70000
|
No upper Limit SA shall be in multiple of Rs.5000
|
Maximum Age
|
66 years
|
63 years
|
60 years
|
Loan – Loan facility available after completion of 1 policy year.
Loan can be granted up to 60% of Surrender Value
Surrender Value-
· Available at any time during the policy term subject to realization of the premium cheque.
· No Loyalty Addition payable
· Higher of GSV or SSV payable
Guaranteed Surrender Value (GSV) -
1st 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) -Discounted value of Single Premium paid excluding taxes and extra premium, if any.
Above Illustration is for
Age : 30 years
Sum Assured : 2,00,000 (2 Lacs)
Premium : 146945 (141634 + 5311 (S. Tax))
Premium Paying Term : Single
Policy / Maturity Term : 9 years
Loyality Addition (2016) : 110 per 1000
Lic New Bima Bachat Plan Table No 816 Premium Chart
LIC Single Premium Bima Bachat Plan 816 Maturity Illustration 9 YEARS
Above Illustration is for
Age : 30 years
Sum Assured : 2,00,000 (2 Lacs)
Premium : 146945 (141634 + 5311 (S. Tax))
Premium Paying Term : Single
Policy / Maturity Term : 9 years
Loyality Addition (2016) : 110 per 1000
LIC Single Premium Bima Bachat Plan 816 Maturity Illustration 12 YEARS
Above Illustration is for
Age : 30 years
Sum Assured : 2,00,000 (2 Lacs)
Premium : 150783 (145333 + 5450 (S. Tax))
Premium Paying Term : Single
Policy / Maturity Term : 12 years
Loyality Addition (2016) : 150 per 1000
LIC Single Premium Bima Bachat Plan 816 Maturity Illustration 15 YEARS
Above Illustration is for
Age : 30 years
Sum Assured : 2,00,000 (2 Lacs)
Premium : 155787 (150156 + 5631 (Tax))
Premium Paying Term : Single
Policy / Maturity Term : 15 years
Loyality Addition (2016) : 220 per 1000
Lic New Bima Bachat Plan Table No 816 Illustration
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