LIC's New Bima Bachat is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy. It is a money-back plan which provides financial protection against death during the policy term with the provision of payment of survival benefits at specified durations during the policy term. In addition, on maturity, the single premium shall be returned along with Loyalty Addition, if any. This plan also takes care of liquidity needs through its loan facility.
Plan name: New Bima Bachat
Payment option : Single Premium
Gender Allowed: Both
High Sum Assured Rebate: Available 3 to 8%
Loan Available: After at least completion of 1 policy year
Profit plan: with Profits
Proposal Form No: 300 & 340
Plan Number: 816
Plan name: New Bima Bachat
| Policy Term | |||
| Plan parameters | 9 | 12 | 15 |
| Minimum Age Entry | 15 yrs | 15 yrs | 15 yrs |
| Maximum Age Entry | 66 yrs | 63 yrs | 60 yrs |
| Minimum Sum Assured | 35,000 | 50,000 | 70,000 |
| Maximum Sum Assured | No Limit | No Limit | No Limit |
Sum Assured in Multiples of Rs. 5,000
Payment option : Single Premium
Gender Allowed: Both
High Sum Assured Rebate: Available 3 to 8%
Loan Available: After at least completion of 1 policy year
Profit plan: with Profits
Proposal Form No: 300 & 340
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