LIC's New Bima Bachat is a participating non-linked savings cum protection plan, where premium is paid in lump sum at the outset of the policy. It is a money-back plan which provides financial protection against death during the policy term with the provision of payment of survival benefits at specified durations during the policy term. In addition, on maturity, the single premium shall be returned along with Loyalty Addition, if any. This plan also takes care of liquidity needs through its loan facility.

1. New Bima Bachat
Plan No. 816
PRESENTED BY: -
SUMEET PAWAR
( INSURANCE ADVISOR)
CONTAC TS: -
(+91) 7738546484
(+91) 9773757120

2. Features
LIC's New Bima Bachat is a participating non-linked
savings cum protection plan, where
premium is paid in lump sum at the outset of the
policy. It is a money-back plan which provides
financial protection against death during the policy
term with the provision of payment of survival
benefits at specified durations during the policy
term. In addition, on maturity, the single premium
shall be returned along with Loyalty Addition, if
any. This plan also takes care of liquidity needs
through its loan facility.

3. Benefit
 Death Benefit: (deal with sudden financial crisis)
On death during the first five policy years: Sum Assured.
On death after completion of five policy years: Sum Assured
along with Loyalty Addition, if any.

4. Benefit
 Survival Benefit: (near Term-End Benefit)
Payable as given below in case of Life Assured surviving to the
end of the specified durations:
 For policy term 9 years: 15% of the Sum Assured at the
end of each of 3rd & 6th policy year
 For policy term 12 years: 15% of the Sum Assured at the
end of each of 3rd, 6th & 9th policy year
 For policy term 15 years: 15% of the Sum Assured at the
end of each of 3rd, 6th, 9th & 12th policy year

5. Benefit
 Maturity Benefit: (Term-End Benefit)
Payment of Single Premium (excluding taxes and extra
premium, if any) along with Loyalty Addition, if any, in case
of Life Assured surviving to the end of the policy term.
Loyalty Addition: Depending upon the Corporation's
experience the policies shall be participate in the profits
and shall be eligible for Loyalty Addition. The Loyalty
Addition, if any, is payable on death after completion of five
policy years and on policyholder surviving to maturity, at
such rate and on such terms as may be declared by the
Corporation.

6. Benefit Illustration
Details Value
Age 30 years
Term 9 years
Premium Paying Term Single
Sum Assured Rs 1,00,000
Premium Paid (incl. ST) for 1st yr per month Rs 74,592 (Rs 72,357 + Rs 2236)
Rs 15,000 on 3rd & 6th yr – Money Back @ 15% Rs 30,000
Loyalty Additions Rs 11,000
TOTAL Maturity Amount Rs 1,13,356
Notes :
This illustration is applicable to a non-smoker male/female standard (from medical, life style and
occupation point of view) life.
In preparing this benefit illustration it is assumed that the Projected CAGR ie Compounded Annual Growth
Returns will be 6% p.a. to 10% p.a., as the case may be. The Projected CAGR is not guaranteed.

7. Eligibility Conditions & Other Restrictions
Details Value
Minimum Entry Age 15 years (completed)
Maximum Entry Age for 9 yr term 66 years (nearest birthday)
Maximum Entry Age for 12 yr term 63 years (nearest birthday)
Maximum Entry Age for 15 yr term 60 years (nearest birthday)
Maximum Maturity Age 75 years (nearest birthday)
Policy Term 9, 12 and 15 years
Minimum Sum Assured for 9 yr term Rs 35,000
Minimum Sum Assured for 12 yr term Rs 50,000
Minimum Sum Assured for 15 yr term Rs 70,000
Maximum Sum Assured No Limit
Sum Assured will be in multiple of Rs 5,000
Premium Payment Mode Single

8. Sample Premium Rates
Following are single premium rates (exclusive of service tax) per Rs. 1000/- Basic
Sum Assured
Age Terms
9 years 12 years 15 years
15 767.95 771.00 771.55
25 768.95 772.00 772.70
35 771.70 775.35 776.80
45 782.65 787.15 789.25
55 803.80 808.10 810.70
65 836.85 - -

9. Rebate for High Sum Assured & Payment
Mode
Sum Assured (in Rs) for 9 yr term Rebate (in Rs)
Less than 75,000 Nil
75,000 to 1,45,000 6% of tabular premium
1,50,000 and above 8% of tabular premium
Sum Assured (in Rs) for 12 yr term Rebate (in Rs)
Less than 1,00,000 Nil
1,00,000 to 1,95,000 4% of tabular premium
2,00,000 and above 6% of tabular premium
Sum Assured (in Rs) for 15 yr term Rebate (in Rs)
Less than 1,50,000 Nil
1,50,000 to 3,00,000 3% of tabular premium
3,00,000 and above 5% of tabular premium

10. Surrender Value
Buying a life insurance contract is a long term
commitment. However, surrender value is available
under the plan on earlier termination of the contract.
The Guaranteed Surrender Value allowable shall be as
under:
 First year: 70% of the Single premium excluding taxes
and extra premium, if any.
 Thereafter: 90% of the Single premium excluding taxes,
extra premium, if any and all survival benefits paid
earlier.
The Corporation may, however, pay Special Surrender
Value as applicable as on date of surrender provided the
same is higher than Guaranteed Surrender Value.

11. Loan
Loan can be availed under this plan any time after
completion of one policy year. The loan shall be
equal to 60% of the surrender value as on date of
sanction of loan.

12. Cooling-off Period
If you are not satisfied with the “Terms and
Conditions” of the policy, you may return the policy
to the Corporation within 15 days from the date of
receipt of the policy stating the reason of objections.
On receipt of the same the Corporation shall cancel
the policy and return the amount of single premium
deposited after deducting the proportionate risk
premium for the period on cover, charges for medical
examination, special reports, if any, and stamp duty.

13. Claims Settlement Report of all Life
Insurance Companies in India (IRDA Annual Report 2012-13)

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