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 |
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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 |
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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 |