Bima Bachat (916) Plan is a single premium, non-linked, with profits Money Back type Plan.

 

Premium Payment Mode: Single Premium

 

Term : 9 Year / 12 Year / 15 Year

 

Minimum Entry Age : 15 Year Completed

 

Maximum Age at Maturity:

• Term 9yr then 59yr (Nearest Birthday)

• Term 12yr then 62yr (Nearest Birthday)

• Term 15yr then 65yr (Nearest Birthday)

 

Maximum Entry Age : 50 Year Completed

 

Minimum Sum Assured :

• Term 9yr then 35,000

• Term 12yr then 50,000

• Term 15yr then 70,000

 

Maximum Sum Assured : NO LIMIT (Depending upon Income)

 

Policy Benefits :

On Death :

• During 1st five years policy years : Sum Assured only.

• After completion of five policy years : Sum Assured + Loyalty Addition, if any.

 

On Survival :

• For Policy Term of 9 years : 15% of SA, after 3rd and 6th policy year.

• For Policy Term of 12 years : 15% of SA, after 3rd ,6th and 9th policy year.

• For Policy Term of 15 years : 15% of SA, after 3rd ,6th,9th and 12th policy year.

 

At Maturity Time : Single Premium Paid + Loyalty Additions, if any.

 

Surrendered Value :

The policy can be surrendered at any time during the policy term subject to realization of the premium cheque.

 

Guaranteed Surrender Value :

• 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.

Loan : Loan facility is available under this plan at any time after completion of one policy year.

 

Income Tax Benefit :

Premium paid under this plan is eligible for TAX rebate under section 80c.

 

For more information Contact Us.