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LIC Bima Bachat

LIC’s New Bima Bachat is one of the best money back policies available in the market. Besides offering advantages of endowment and life cover, the money back policy guarantees regular redemption of the Sum Assured along with the accrued additions.

The single premium plan offers you a potent vehicle to park your extra fund in a safe and secure manner. Its Money Back feature allows you to enjoy the redemptions in a phased manner.

LIC’s New Bima Bachat – Key Features

  • Single Premium: The onetime payment/ single premium plan makes it most suitable for safely parking windfall gains.
  • Survival Benefit: If the policy holder survives every 3 year bracket, 15% of the Sum Assured is paid back and the policy continues.
  • Maturity Benefit: If the policy holder survives the entire term, the amount of Single Premium paid along with Loyalty Addition is paid back and the policy terminates.
  • Death Benefit: If the policy holder dies within the first 5 policy years = Sum Assured. If the policy holder dies after completion of 5 years of the policy = Sum Assured + Loyalty Addition.
  • Income Tax Benefits: All premiums paid under the policy are eligible fordeduction under Section 80C of the Income Tax Act 1961. Death benefits too are exempted from tax under Section 10(10D) of the same.
  • Types of Deaths Covered: Both types of deaths, natural and accidental, are covered under the plan.

 Policy Details at a Glance:

  • Sum Assured – 35,000 (PT 9), Rs. 50,000 (PT 12), Rs. 70,000 (PT 15) to No limit
  • Policy Term (PT) – 9, 12, 15 Years
  • Premium Paying Term – Single Premium
  • Minimum Entry Age:15 Years
  • Maturity Age:75 Years
  • Surrender Value:The policy acquires a surrender value if at least three premiums are paid.
  • Loan:Loan can be availed against the policy in case at least three premiums are paid.

Premium Chart: The chart below shows the single premium for a Sum Assured of Rs. 1,00,000. The premium paid varies according to the age of the insurer and the plan term chosen.

Age (Years)

Policy Term (Years)

9 12 15
30 72,357 74,213 77,400
40 72,906 74,866 78,185
50 74,486 76,478 79,880
  • Single Premium for Sum Assured Rs. 1,00,000
  • Premium Rates may vary after application of GST

Regular Money back is something we all enjoy. And if this redemption can be synchronized with the crucial phases of life like kids education, marriage, buying new house or car, the satisfaction bestowed is immense. LIC’s New Bima Bachat is a single premium life insurance cover that helps you enjoy regular returns in addition to a life risk cover. Get in touch with us or Call us at 91+9230091000 to buy LIC’s New Bima Bachat plan and park your savings safely.  We are authorized agency for LIC of India and provide life insurance plans/policies to individuals, HNIs/NRIs and corporates in New Delhi, Jalandhar, Chandigarh, Mohali, Zirakpur, Kharar. Shortly, we will be opening offices in Ludhiana and Patiala in Punjab too.