LIC Bima Bachat Plan (Plan no.816)

 

This is a Money back policy with Limited premium payment, Non-linked, Conventional, with-profits plan.

Money Back is paid every 4th year with refund of entire premium paid on Maturity with Loyalty addition.

Eligibility Conditions & Restrictions
Minimum age : 15 years (Completed)
Maximum age : 66 years for 9 years term
63 years for 12 years term
60 years for 15 years term
Maximum maturity age : 75 years
Premium term : 9 years / 12 years / 15 years
Minimum Sum Assured : Rs.35,000 for 9 years term
Rs.50,000 for 12 years term
Rs.70,000 for 15 years term
Maximum Sum Assured : No limit
Premium payment : Single premium
Loan : Eligible after 1st year
Surrender : Eligible with immediate effect
On Death : Sum Assured (1st five years)
Sum Assured + Loyalty addition (After 5 years)
Income Tax Benefits : Premium paid is eligible for Tax rebate u/s 80c