Lic Bima Bachat Money Back Plan 816 Features & Details

Friday, January 3, 2014

LIC Of INDIA

Lic Bima Bachat Money Back Plan 816 Features & Details | Features, Benefits Reviews, Premium, Maturity and Risk Cover

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.




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


Lic New Bima Bachat Plan Table No 816 Illustration 1

Lic New Bima Bachat Plan 816 Illustration

Lic New Bima Bachat Plan Table No 816 Illustration 3


Related Plans :  LIC New Jeevan Anand Plan Table No - 815LIC New Endowment Plan Table No - 814