LIC’s New Plan New Bima Bachat (Table No. 816)

LIC’s New Plan New Bima Bachat (Table No. 816) implemented.
INTRODUCTION: It has been decided to introduce LIC’s New Money Back Plan (Plan No. 820) with effect
from 7th January, 2014. The Unique Identification Number (UIN) for LIC’s New Endowment Plan is -
512N284V01. This number has to be quoted in all relevant documents furnished to the Policyholders
and other users (public, distribution channels).
BENEFITS: The benefits payable under an inforce policy are as under:
a) Benefits payable on death:
On Death during the first five Year: - Sum assured shall be payable.
On death after completion of five policy year:-Sum Assured along with Loyalty Addition if any
shall be payable.
b) Survival Benefit:
On the Life Assured surviving to the end of the specified durations the following benefits shall be
available.
For policy term 9 years:-
15% of the Sum Assured at the end of the 3rd & 6th policy year.
For policy term 12 years:-
15% of the Sum Assured at the end of the 3rd,6th & 9th policy year.
For policy term 15 years:-
15% of the Sum Assured at the end of the 3rd, 6th, 9th & 12th policy year.
Maturity Benefit:
On the Life Assured surviving to the end of the policy term, Single premium paid along with Loyalty
Addition if any less taxes and extra premium if any shall be payable.
d) Loyalty Addition: -
Depending upon the Corporations experience the policies shall be participate in the profits and shall be
eligible for Loyalty Addition. The Loyalty Addition if any shall be payable on death after completion of
five policy years and on policy holder surviving to maturity, at such terms as may be declared by
corporation.

ELIGIBILITY CONDITIONS AND RESTRICTIONS:
1) Minimum Age at entry for Life Assured : 15 years (completed)
2) Maximum Age at entry for Life Assured : 66 years (nearest birthday) for term 9 yrs.
:63 years (nearest birthday) for term 12 yrs.
:60 years (nearest birthday) for term 15 yrs.
3) Policy Term : 9, 12 and 15 years
4) Premium Paying Term : 15 years
5) Minimum Basic Sum Assured : Rs. 35000/- for term 9 years
: Rs. 50000/- for term 9 years
: Rs. 70000/- for term 9 years
6) Maximum Basic Sum Assured : No Limit
7) Maximum Maturity Age for Life Assured : 75 years (nearest birthday)
The Basic Sum Assured shall be in multiples of Rs. 5000/-
Mode of payment Single premium only.

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