New Bima Bachat - 916
Advantages
* LIC's New Bima Bachat is a participating non-linked savings cum protection
plan, where premium is paid in lump sum at the outset of the policy.
* For policy term 9 years: 15% of the Sum Assured at the end of each
of 3rd & 6th policy year
* For policy term 12 years: 15% of the Sum Assured at the end of each
of 3rd, 6th & 9th policy year
* For policy term 15 years: 15% of the Sum Assured at the end of each
of 3rd, 6th, 9th & 12th policy year
* Payment of Single Premium (excluding taxes and extra premium, if any)
along with Loyalty Addition, if any, in case of Life Assured surviving
to the end of the policy term.
Presented by:
Subhash Kumar
12/56, Desh bandhu Gupta Road ,
Karol Bagh ,
New Delhi -110006
+91 9899147231
New Bima Bachat - 916
LIC's New Bima Bachat is a participating non-linked savings cum protection plan,where
premium is paid in lump sum at the outset of the policy. It is a money-back plan which
provides financial protection against death during the policy term with the provision
of payment of survival benefits at specified durations during the policy term.
Table No. In addition, on maturity, the single premium shall be returned along
916 with Loyalty Addition, if any.
Release Date
07/01/2014
Payment of Single Premium (excluding taxes and extra premium, if any) along with Loyalty
Maturity Benefits Addition, if any, in case of Life Assured surviving to the end of the policy term.
Depending upon the Corporation's experience the policies shall be participate in
the profits and shall be eligible for Loyalty Addition.
a) Death benefit On death during the first five policy years: Sum Assured.
On death after completion of five policy years: Sum Assured
Death Benefits
along with Loyalty Addition, if any.
The Guaranteed Surrender Value shall be as under.
First yearr 70% of Single premium excluding taxes and extra premium if any
GSV & SSV Benefits
Thereafter 90 % of the Singhle premium excluding taxes and extra premium if any
Corporation may however, pay Special Surrender Value as applicable as on the date of
surrender, provided the same is higher than Gauranteed Surrender Value.
Disclaimer : The figures presented in this entire illustration are indicative and solely for the purpose of understanding the possible benefits from the
proposed insurance. The benefits are not guaranteed and the actual results may depend on the future performance of the insurer.
Plan Summary
Premium
First Year Premium Rs. 7,47,718
Rest Of Year Premium Rs. 0
Tax Saved
Total Term Premium Paid Rs. 7,47,718
Total Tax Saved Rs. 30000
Maximum Risk Cover
Maximum Risk Cover Rs. 21,30,000
Minimum Risk Cover 20,00,000
Returns
Total Amount Received Rs. 11,38,170
This Presentation is Specially
Subhash Kumar
Prepared For:
12/56, Desh bandhu Gupta Road , Name: Mr. ABC
Karol Bagh ,
New Delhi -110006 Age: 30
+91 9899147231
Year Age Risk Cover Premium Tax Net Surrender Loan Maturity
Saved Premium Value Value Value
Normal Accidental
2020 30 10,00,000 20,00,000 7,47,718 30,000 7,17,718 6,39,123 4,46,147 0
2021 31 10,00,000 20,00,000 0 0 0 6,74,532 5,73,617 0
2022 32 10,00,000 20,00,000 0 0 0 6,37,353 5,73,617 0
2023 33 10,00,000 20,00,000 0 0 0 6,37,353 5,73,617 1,50,000
2024 34 10,00,000 20,00,000 0 0 0 6,65,680 5,73,617 0
2025 35 11,30,000 21,30,000 0 0 0 6,37,353 5,73,617 0
2026 36 11,30,000 21,30,000 0 0 0 6,37,353 5,73,617 1,50,000
2027 37 11,30,000 21,30,000 0 0 0 6,58,598 5,73,617 0
2028 38 11,30,000 21,30,000 0 0 0 6,37,353 5,73,617 0
2029 39 0 0 0 0 0 0 0 8,38,170
Total 7,47,718 30,000 7,17,718 11,38,170
Disclaimer : The figures presented in this entire illustration are indicative and solely for the purpose of understanding the possible benefits from the
proposed insurance. The benefits are not guaranteed and the actual results may depend on the future performance of the insurer.
This Presentation is Specially
Subhash Kumar
Prepared For:
12/56, Desh bandhu Gupta Road , Name: Mr. ABC
Karol Bagh ,
New Delhi -110006 Age: 30
+91 9899147231
Modewise Summary of Installment Premiums
ID DOC Plan Term PPT Basic Accidental Settlement Premium
Sum Sum Option
Assured Assured Yealy Half-Yly Quarterly ECS/SSS Single ** Daily
1 10/05/2020 916 9 1 1000000 0 0 Years 0 0 0 0 747718 0
Total 1000000 0 No 0 0 0 0 747718 0
'*' : Assuming LIC will declare the above mentioned bonus rates for the year ended 31/03/2018.
'**' : Daily premium is for indicative purpose only. Formula used - (Yearly Premium/365).
'***' : Premiums indicated are inclusive of GST.
Medical Requirements
Medical Test : FMR
Internal Rate of Return(IRR) :-
Normal : 5.62
Income Tax Rebate : 6.2
Disclaimer : The figures presented in this entire illustration are indicative and solely for the purpose of understanding the possible benefits from the
proposed insurance. The benefits are not guaranteed and the actual results may depend on the future performance of the insurer.
