This is a single premium, non-linked, with profits Money Back type Plan
Features & Conditions of NEW BIMA BACHAT PLAN
Minimum age at entry : 15 years Ibd Maximum age at entry : 50 years nbd
Policy Term – 9, 12 and 15 Years
|Term||Max Age at Maturity nbd||Min Sum Assured|
|9 years||59 years||Rs.35,000|
|12 years||62 years||Rs.50,000|
|15 years||65 years||Rs.70,000|
Maximum S.A. : No limit
SA in multiples of Rs. 5,000 only.
Available Riders: ADDB and Term Rider for full Policy Term.
Mode of Payment: Single Premium
High S.A. Rebate (As % of Tabular Premium)
Term 9 years:
- Up to Rs. 70,000 : Nil
- Rs. 75,000 to Rs. 1,45,000 : 6%
- Rs. 1,50,000 & above : 8%
Term 12 years:
- Up to Rs. 95,000 : Nil
- Rs. 1,00,000 to Rs. 1,95,000 : 4%
- Rs. 2,00,000 & above : 6%
Term 15 years:
- Up to Rs. 45,000 : Nil
- Rs. 1,50,000 to Rs. 2,95,000 : 3%
- Rs. 3,00,000 & above : 5%
- During 1st five years policy years : SA on Death
- From 6th year onwards : SA on Death + Loyalty Addition, if any.
- For Policy Term of 9 years : 15% of SA, after 3rd & 6th policy year.
- For Policy Term of 12 years: 15% of SA, after 3rd,6th & 9th policy year.
- For Policy Term of 15 years: 15% of SA, after 3rd ,6th,9th & 12th policy year.
MATURITY BENEFIT: Single Premium Paid + Loyalty Additions, if any.
Policy Loan: Only after one policy year.
Surrender: First Year: 75% of SP. 2nd Year Onwards: 90% of SP less SB Paid.
Back Dating: Allowed without lean months benefit. Interest will be charged for exact no. of days from DOC to date of payment.
Proposal Form: 300, 340 or 360
Tax Benefits :
- On Basic Premium : u/s 80C up to 10% of SA Maturity : Taxable
- Death Claim : u/s 10(10D)