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
-
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
20% of sum assured payable after 5th, 10th and 15th year of the policy.On Maturity:40% of Basic Sum Assured + Vested Bonus + FAB if any
On detection of Major Stage Cancer
-
Settlement Option
-
Multiple Allowed
25000
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
| 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 | - |
| 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 |
| 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 | 20% of sum assured payable after 5th, 10th and 15th year of the policy.On Maturity:40% of Basic Sum Assured + Vested Bonus + FAB if any |
| On detection of Major Stage Cancer | - |
| Settlement Option | - |
| Multiple Allowed | 25000 |
| 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 |
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