New Bima Bachat Plan No 816 14

LIC Launches new Bima Bachat Plan (Table No 816).

Service Tax shall be applicable at the prevailing rates and borne by the policyholder as per rules.

Maturity Benefit -Single Premium Paid along with loyalty addition less Taxes and  extra premiums ,if any

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.

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 LimitSA shall be in multiple of Rs.5000

Loan – Loan facility available after completion of 1 policy year.

Loan can be granted upto 60% of Surrender Value

Surrender Value-

  • Available at any time during the policy term subject to realisation 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.

Compare old Bima Bachat Plan 175 to New Bima Bachat Plan No 816

14 thoughts on “New Bima Bachat Plan No 816

  1. Pingback: New Bima Bachat Plan No 816 | TravelSquare

  2. Reply J Kalaivaani Jan 25, 2014 3:13 PM

    There is no transparency in the details made available by LIC of India. This is specially with reference to new bima bachat plan no.816.

    • Reply admin Feb 4, 2014 5:30 AM

      Mr. Kalaivaani, Everything is not available online. for more information you can contact your agent or go to any LIC branch office for the same.

  3. Reply Adv. Santosh Patil Feb 16, 2014 2:27 PM

    if i invest Rs.35000/- for 9 years, now my age is 33 years, than how much amount i get after maturity. (9 years)?

  4. Reply rajesh pathania Feb 24, 2014 11:22 AM

    i eager to know your New Bima Bachat Plan No 816

  5. Reply Abby Feb 28, 2014 11:36 PM

    I think LIC is planning to loot from people. Its all like “OLD WINE IN NEW BOTTLE”.

  6. Reply sangita kayasth Mar 7, 2014 2:12 PM

    This is really very nice plan of Lic.

    we have buy 2-3 policy of same plan

    from sangita kayasth

  7. Reply VERENDER SINGH Mar 20, 2014 5:57 AM

    I am doing my saving through safest lic contemporary plans for last thirty years and there is no loot at all.

  8. Reply karthic Mar 25, 2014 6:50 AM

    Why c’nt give Everything Online……

  9. Reply KHOKAN SARKAR Apr 18, 2014 12:24 PM

    I am doing my saving through safest lic contemporary plans for last thirty years and there is no loot at all.

  10. Reply KHOKAN SARKAR Apr 18, 2014 12:37 PM

    if i invest Rs.35000/- for 9 years, now my age is 27
    years, than how much amount i get after maturity. (9 years)?

  11. Reply PRITI Jul 12, 2014 4:18 AM

    Mr. Kalaivaani, Everything is not available online. for more information you can contact your agent or go to any LIC branch office for the same.

    Admin u r reply is not satisfactory.
    Give me Answer on my mail address.That is not public Email address.
    Agent not a part of u r corporation for bearing Responsibility. Responsibility of corporation.
    LIC branch office says that after 9 year calculation is not possible.
    only provision.

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