Plan Features
Bima Bachat (916)
Product Summary
Bima Bachat (916) is a single premium, non - liked, with profit money back plan with survival benefit every 3 years from the inception of the plan.
Premium Payment Mode :
Single premium
Annuity Mode
-
Optional Benefits
-
Term :
9 Year\n 12 Year \n 15 Year
Premium Paying Term :
-
Minimum Age at Entry :
15 Year completed
Maximum Age at Entry :
null
Annuity Options
-
Minimum Purchase Price
-
Deferment Period
-
Joint Annuity
-
Maximum Cover Ceasing Age:
-
Maturity Age:
-
Sum Assured
-
Maturity Benefit
-
Death Benefit
-
Minimum Basic Sum Assured :
-
Minimum age at the end of Premium Paying Term
-
Maximum Maturity Age :
59 Years for 9 Year term\n 62 Year for 12 Year term\n 65 Year for 15 Year term
Minimum Premium:
-
Maximum Premium:
-
Minimum Basic Sum Assured :
-
Sum Assured on Death
-
Minimum Sum Assured :
35,000 for 9 Year term\n 50,000 for 12 Year term\n 70,000 for 15 Year term
Maximum Sum Assured :
No Limit (Subject to other conditions)
Guaranteed Additions
-
Survival Benefits
-
Riders Available
Nil
Accidental Death and Disability benefit (ADDB) :
Not Available
Policy Benefits
On Death :
During first five 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 Sum Assured, after 3 rd and 6th policy year. For Policy Term of 12 Years:15% of Sum Assured, after 3 rd, 6th and 9th policy year . For Policy Term of 15 Years:15% of Sum Assured, after 3 rd, 6th,9th and 12th policy year.
On detection of Early Stage Cancer
-
On detection of Major Stage Cancer
-
​Settlement Option :
-
Multiple Allowed
-
Surrender Value :
Policy can be surrendered at any time during the policy term provided the premium cheque has been realized. First Year:Guaranteed surrender value of 70% of single premium excluding taxes and extra premium( if any). Subsequent years 90 % of single premium excluding taxes (if any).
Loan :
Loan can be availed at any time during the policy term after completion of one full year from the inception of policy.
Income Tax Benefit :
Premium paid under the policy is eligible for Tax rebate under section 80C.
Proposal Form :
From No 300 for major lives and Form No 360 for minor lives.