Topic: Tell me features of LIC Bima Bachat policy

I want to take a life insurance of Rs. 20,00000 and want to get my money back after the term of policy. Does LIC Bima Bachat fits into my requirements? What are other options availabe for such kind of insurance policy?

This message was edited 1 time. Last update was at 21/07/2009 15:15:54

LIC's Bima Bachat is a money-back policy which offers financial security and assurance to the policy holder and his family. Bima Bachat requires the policy holder to pay only one premium. The amount paid for the premium depends on the duration of the policy taken and life insurance is available till the date of maturity. At the time of maturity, a single premium payment (excluding extra premium) is made along with loyalty additions, if any. For a term of 9 years: The policy holder will receive 15% of the sum assured at the end of every 3rd and 6th policy year. For a term 12 years: The policy holder will receive 15% of the sum assured at the end of every 3rd, 6th and 9th policy year. For a term 15 years: The policy holder will receive 15% of the sum assured at the end of every 3rd, 6th, 9th and 12th policy year. Bima Bachat is the only money-back policy that offers a loan facility. The rate of interest for this will be determined from time to time by the corporation. Presently the rate of interest is 9% p.a. payable half-yearly. It also offers other benefits like the 15 day cooling off period, grace period and revival.

What is meant by excluding extra premium? I dont understand, can you please explain abou that?

Thanks,

how much loan will i get on 10 lacs policy?

after how many days i can avail for loan from lic bima bachat

Anonymous wrote:how much loan will i get on 10 lacs policy?

near about 60% of 10 lacs
contact jay
9742264742

at present my age is 63 let me know in detail of bima bachat policy minimum and maximum investmet and the premium also period when it mature and whether it is money back or not

please contact

Amrita
amrita.sumit@gmail.com
9663988444
BANGALORE

i want 20000 for 9 years
what benifit i got

NAME OF POLICY ; BHIMA BACHAT. I am 64 years of age. I wish to pay Rs.3 lakhs as a single premium for 12 years policy. What will be the sum assured ?

Anonymous wrote:NAME OF POLICY ; BHIMA BACHAT. I am 64 years of age. I wish to pay Rs.3 lakhs as a single premium for 12 years policy. What will be the sum assured ?

NAME OF POLICY ; BHIMA BACHAT. I am 35 years of age. I wish to pay Rs.5 lakhs as a single premium for 12 years policy. What will be the sum assured ?

Hi i am Gaurav Bailbhare working as Development Officer in LIC OF INDIA if any one want to take new policy from LIC under any plan feel free to contact me. by help of my agent we provide u best solution at free of cost , by visting your office or at your home. just call us and fix appointment.. we provide free presentation of your investment In lic. before taking policy please make sure tht u will get after sale service.. and we insure tht u will get all tht even you are not our custmer.... kindly contact me on 7208822646 or mail at careerinlic@gmail.com or visit our website which is specially design for reruitment of insurance advisor.

visit and register www.careerinlic.in for reruitment of insurance advisor in mumbai

LIC’s Bima Bachat is a money-back
policy which offers financial security
and assurance to the policy holder and
his family. Bima Bachat requires the
policy holder to pay only one premium.
The amount paid for the premium
depends on the duration of the policy
taken and life insurance is available till
the date of maturity.
What other benefits do I receive
during the specified duration of the
policy?
For a term of 9 years: The policy holder
will receive 15% of the sum assured at
the end of every 3rd and 6th policy
year.
For a term 12 years: The policy holder
will receive 15% of the sum assured at
the end of every 3rd, 6th and 9th
policy year.
For a term 15 years: The policy holder
will receive15% of the sum assured at
the end of every 3rd, 6th, 9th and 12th
policy year.
What additional benefits do I get
upon maturity?
If the policy holder outlives the
duration of the policy, at the time of
maturity, a single premium payment
(excluding extra premium) is made
along with loyalty additions, if any.
How much insurance do I get?
The policy holder is insured for an
amount equal to the sum assured.
What about the installment received
already?
The insurance cover is irrespective of
the installments received.
When am I eligible for the
guaranteed surrender value?
The guaranteed surrender value is
available only after completion of at
least one policy year. This value is
equal to 90 % of the single premium
paid (excluding extra premium).
What other benefits does this
insurance cover offer?
Bima Bachat is the only money-back
policy that offers a loan facility. The
rate of interest for this will be
determined from time to time by the
corporation. Presently the rate of
interest is 9% p.a. payable half-yearly.
It also offers other benefits like the 15
day cooling off period, grace period
and revival.
Who is eligible for the policy? Are
there other conditions or
restrictions?
The following are the requirements
that one needs to be aware of before
applying for this
policy:
· The person applying for the policy
should have completed 15 years and
should not be older than 66 years.
· The policy will mature when the
person is 75 years old.
· There is a choice of three terms to
choose from (9, 12 and 15 years) for
the policy depending on the age and
requirement of the applicant.
· The minimum sum that needs to be
assured is Rs 20,000/ - and there is no
limit on the amount that can be
assured.
· It is important to note that the sum
assured should be in multiples of Rs
5000/- only.
· The policy requires the holder to pay
a single premium.

SMS NAME AGE AMOUNT YRS FOR SA OF BIMA BACHAT ON 7208822646 OR MAIL AT careerinlic@gmail.com

Is Income Tax exemption for Bima Bachat Policy.please calrify

9 year 50000 s v whate amount with mturity

what do you mean on maturity one premium excluding premium
paid? pls confirm.

I have been told on maturity i will receive one preium excluding premium paid explain

how much money will i get at maturity for 50000 policy for the period of 9 years ?

Anonymous wrote:how much money will i get at maturity for 50000 policy for the period of 9 years ?

Anonymous wrote:What is meant by excluding extra premium? I dont understand, can you please explain abou that?

Thanks,

Sir,
Suppose if i pay single premium of Rs 15 lakh in a Bima Bachat Plan what wiil be tax effect on my maturity.Pl clearify with illustration if any.

Kamlesh Thakkar

KAMLESH JI,

MAIL YOUR DETAILS TO ME. I WILL HELP YOU REGARDING BIMA BACHAT
brijmohanjha.20@gmail.com

m:9804611439

Anonymous wrote:how much loan will i get on 10 lacs policy?

Yes you can go for LIC Bima policy because it is money return policy and it is the thing you requires.

Anonymous wrote:Is Income Tax exemption for Bima Bachat Policy.please calrify

There are 3 policy tenures possible in LIC Bima Bachat – 9 years, 12 years and 15 years.

So for a 9 year plan, 15% of sum assured is paid after the 3rd and 6th year, that makes 30% of sum assured as payable.

So for a 12 year plan, 15% of sum assured is paid after the 3rd, 6th and 9th year, that makes 45% of sum assured as payable.

So for a 15 year plan, 15% of sum assured is paid after the 3rd,6th, 9th and 12th year, that makes 60% of sum assured as payable.

In case of death, the entire sum assured and bonus is received by the nominee.

Anonymous wrote:after how many days i can avail for loan from lic bima bachat

SachinKalra wrote:I want to take a life insurance of Rs. 20,00000 and want to get my money back after the term of policy. Does LIC Bima Bachat fits into my requirements? What are other options availabe for such kind of insurance policy?

Anonymous wrote:NAME OF POLICY ; BHIMA BACHAT. I am 64 years of age. I wish to pay Rs.3 lakhs as a single premium for 12 years policy. What will be the sum assured ?

my age is 53 years. i want to buy this plan for 12 years against s.a.50000. what amount will be as singla premium?

Loan facility immediate from LIC ?

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