Detailed Review & Our Recommendation on LIC Bima Bachat Plan. Compare Premiums, Key Features & Benefits of this Single Premium Money Back Policy. Detailed Review & Our Recommendation on LIC New Bima Bachat Plan. Compare Premiums, Key Features & Benefits of this Single Premium Money Back . LIC Bima Bachat – Compare features and benefits of Bima Bachat No. from LIC. Also check other latest plans from LIC and check your eligibility with similar.
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Ever come across a large pile of banknotes? You know, by winning the lottery or hitting the jackpot at your favourite casino? For example, your mother who nachat to have you around just to start a bit of friendly banter or your younger brother who aspires to get into Yale but spends his weekends watching Gossip Girl. It is a single premium participating endowment policy, that is, it is the traditional cash back plan with scheduled payments coupled with the return of the entire premium in addition to loyalty points given at the completion of policy tenure.
There are three choices of policy term offered to the investor depending on their age and requirements — 9, 12 and 15 years, among which the applicant must choose at the time of application.
The minimum sum assured varies as the term of the policy. Also, the applicant must keep in mind that the amount assured must be a multiple of Rs After all, not every life insurance plan is synonymous with each other.
LIC Bima Bachat
Take a look at the features that this policy entails:. It is a single premium cash back plan, that is, the lump sum of money is invested in the policy in return for a death benefit. The loyalty addition promised is payable upon maturation of policy or on earlier demise. Surrender Benefit or Policy Termination: Why should you revoke your bzchat to spend all your money in one go and become a dull person investing in policies?
Read on to find out.
Life Insurance Corporation of India – New Bima Bachat
If the investor survives the entire policy tenure, the entire premium submitted at the beginning of policy term along with the loyalty addition will be returned. If the insured person dies before the conclusion of the policy period, the following events can occur under the LIC Bima Bachat Plan:.
If the policyholder dies before the end of 5 years of the policy tenure, then only the sum assured is returned to the nominee. If the policyholder dies after the completion of 5 years of the policy tenure, then only the sum assured plab with the loyalty addition if loc is returned to the nominee. As mentioned previously, there is a rebate available for high sum assured.
As per section 80C, income tax is excused for the premium paid and on the claims received, according to the Income Tax Act. There are a few honourable mentions, when it poan to the prime benefits of the LIC Bima Bachat Plan, making it one of the most sought after life insurance policies.
Also, it can be bought through agents, brokers or other company mediators. Bika Form filled in with correct medical history and attested. PolicyX or any of its subsidiaries does not endorse any of the information provided herewith and are committed in providing correct and unbiased information to its customers helping them make an informed decision.
YYYY Take a look at the features that this policy entails: Discount is provided on the higher sum assured.
For Policy Term Of 9 Years: Nachat be paid at the termination of 3rd year 2. To be paid at the termination of 6th year.
For Policy Term Of 12 Years: To be paid at the termination of 9th year.
For Policy Term Of 15 Years: To be paid at the termination of 12th year. Inclusions There are a few honourable mentions, when it comes to the prime benefits of the LIC Bima Bachat Plan, making it one of the most sought after life insurance policies.
LIC Bima Bachat Plan – Review, Key Features & Benefits
Cheque for the Single premium 2. Know Your Customer Documents 4. A passport sized photograph. Date of Birth proof 6. Application Form filled in with correct medical history and attested 9. How helpful was this page?