Bima Bachat Policy

Bima Bachat Summary:
LIC Bima Bachat (Table No.175) is a single premium money-back policy. Bima Bachat offers financial security and assurance to the policy holder and his family.


Death Benefits:
During the Term of the policy if the Life Assured is dead, apart from survival benefits if any, paid earlier, an amount equal to SA will be paid.

Survival benefits:
Survival benefits (15% of SA) are paid at 3rd, 6th, 9th & 12th policy year respectively depending on the policy term. On maturity the single premium paid alongwith Loyalty addition if any will be paid back.

Maturity Benefit/Survival benefit for 2 lakh SA: (30yrs age)

Policy Term 3rd Year 6th Year 9th Year 12th year
9 years 60,000 60,000 Final Maturity
12 years 60,000 60,000 60,000 Final Maturity
15 years 60,000 60,000 60,000 60,000

Eligibility Conditions and Restrictions LIC Bima Bachat:

Min. age at entry: 15 years (completed).
Max. age at entry: 66 years (Nearest).
Min. S.A.: Rs. 20,000
Max. SA.: Any Amount.
SA in multiples: Rs. 5000
Max. Maturity age: 75 years (Nearest).
Terms Available: 9, 12 or 15 years.
Modes Allowed: All
Dating Back @ 8%: Allowed
Term Rider Option: Not available
Critical Illness Rider: Not available
Policy Loan: Available

Surrender Values:
The Bima Bachat can be surrendered after 1 year. The Guaranteed Surrender Value  is equal to 90% of the single premium paid excluding extra premium paid and the survival Benefits paid earlier.

Bima Bachat Examples:
Let me give you an example to understand this policy.  Mr. Dilip aged 30 years takes a Bima Bachat Policy for 15 years term for Rs 2 lakhs SA. He pays single premium of Rs. 1,48,322. He receives Survival Benefit of rs 30,000 each at the end of 3rd, 6th, 9th & 12th year respectively. On Maturity, he will receive Rs 1,48,322 being the single Premium paid by Dilip. Thus total amount received by him will be Rs 2,68,322 (Rs 1,20,000 as Survival Benefits + 1,48,322 as single Premium paid) + LA if any. If Mr. Dilip dies during the 13th policy year, his nominee will get Rs 2 lakh as SA as death benefit (Survival benefit of Rs 30000 each received during 3rd, 6th, 9th & 12th year will not be deducted from the SA). hence the total amount received would be Rs. 3,20,000.

Cooling off period:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to Life Insurance Corporation Of India within 15 days.

4 Comments on "Bima Bachat Policy"

  1. pankaj kumar Burman | April 1, 2014 at 1:38 am | Reply

    y money back policy 555410614 Dt.12.12.13 due dt of money back Rs.1894/-for 2013 But not received money receipt please confirm the matter and send details in to my mail.

  2. sanjay shankarrao solanke | January 20, 2014 at 5:56 am | Reply

    My money back policy 821864868 Dt.30.03.07. due dt of money back Rs.10000/-for 2011 But not received monery back please confirm the matter and send Check to mention address.

    Sanjay solanke 9985974122

  3. Prashant Gongadi | September 29, 2013 at 7:17 am | Reply

    Dear All
    I would like to know the tax benifit available for Bima Bachat Policy


  4. I have gone through the Bima Bachat Policy, table No.-175, but no one word is mentioned pertaining to income tax at the time of payment of maturity benefits. I seek the information at an earliest possible time. Thanks,

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