New Bima Bachat
LIC’s New Bima Bachat plan provides life cover, savings, and guaranteed payouts through a single premium payment.
- This plan offers guaranteed 15% of the Sum Assured at regular intervals based on the chosen policy term.
- Upon maturity, the customer receives the single premium paid along with any loyalty addition.
- The plan includes the option to add Accidental Life cover and Disability Benefit.
- Policyholders can choose to receive the maturity proceeds in installments over 5, 10, or 15 years.
- Similarly, the death benefit can also be received in installments.
- LIC offers premium discounts for yearly payment mode and high sum assured.
- The policyholder can avail a loan after completing 1 year of the policy.
| Eligibility Criteria | ||
| Minimum | Maximum | |
| Age | 15 Years (Completed) | 50 Years (Near Birthday) |
| Policy Term | 9, 12 & 15 years | |
| Premium Payment Term | Same as Policy Term | |
| 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 |
| Basic Sum Insured | 59 Years for Term = 9 Years, 62 Years for Term = 12 Years, 65 Years for Term = 15 Years | |