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.
This is a very good Single Premium Plan with Risk Cover of 9/12/15 years with Money Backs.
RISK COVER = Premium Paid (Single) for example 50,000 then Risk Cover is 50,000
BENEFITS:
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.
This is the only money-back policy that offers a LOAN facility. The rate of interest is 9% p.a. payable half-yearly.
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.
SURRENDER available only after completion of at least one policy year.
It also offers other benefits like GRACE period and REVIVAL.
· The person applying for the policy should have completed 15 years and should not be older than 66 years.
· The policy requires the holder to pay a single premium.· 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.
Waiting for your queries,
Kushal Borkhatariya
LIC of india
+91 9275042150
Vadodara Division
kushal.borkhatariya@gmail.com
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