- LIC’s New Bima Bachat plan offers the Life cover, Savings & Guaranteed pay-outs by paying Single Premium
- This plan offers Guaranteed 15% of Sum Assured at regular intervals depending on the term of the policy that customer choose
- On maturity, customer gets back the Single premium paid along the loyalty addition, if any
- This plan has an option of choosing the Accidental Life cover & Disability Benefit
- This plan also has the option of taking the Maturity proceeds in instalments as the policy-holder can choose the no of year as 5, 10 or 15.
- In a similar way, the policyholder also has the option of choosing the death benefit in instalments.
- LIC also offer the discount in the premium in case the mode of payment is Yearly and also in case of high sum assured
- The loan is also available to the policyholder after the completion of 1 year of the policy
- Settlement option avilable on Maturity and Death in Installments of 5,10 or 15 Years
How Does This Policy Work
Sample illustration
| Eligibility Criteria |
|
Min. |
Max. |
| Age |
15 Years(Completed) |
50 Years
(Near Birthday) |
| Policy Term |
9,12 & 15 years |
| Premium Payment Term |
Same as Policy Term |
|
| Basic Sum Assured |
Rs. 35,000 for Term=9 Years
Rs,50,000 for Term=12 Years
Rs.70,000 for Term=15 Years |
No Limit |
| Maximum Maturity Age |
59 Years for Term = 9 Years
62 Years for Term = 12 Years
65 Years for Term = 15 Years |
| Rider |
LIC's NEW TERM ASSURANCE RIDER (TR) |
| Rider |
LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER |
