Additional 8 years of life cover would be provided in a 16 years policy and additional 10 and 12 years of coverage would be provided in a 20 years and 24 years policy respectively. A money back return based on the policy term will be paid once every 4 years. In case of unfortunate death of the policyholder, this plan provides financial support for the family not only during the policy term but also beyond the policy term during the extended cover period equal to half of the policy term and beginning from the date of maturity. Extended cover period for half of the policy term after end of the policy term. Lics new bima gold 179 is a money back plan where a portion of sum assured is paid back at specific intervals as survival benefits.
Lic presented golden jubilee policy bima gold on its 50th golden jubilee year. The policy continues even beyond the policy term till the end of the extended term. Life insurance corporation of india new money back plan20. The calculator also provide maturity and money back details of individual plans. Also, a simple reversionary bonus is payable on maturity. Calculate yearly half yearly quarterly and monthly premium with gst, money back amount, maturity of new money back plan table 820. Lic premium calculator provides easy to use app like experience to calculate complete premium of lic plans. In this plan, the premium is paid for the entire policy term but the plan continues even beyond that till the end of the extended term, which is half of the.
L i c s bima gold introduction new bima gold this is a money back type plan where total premiums paid under the policy shall be paid back to the policyholder in instaimants at the specified durations in case of survival and sum assured shall be paid in case of death during the term of the policy. Categorized under special plans, lic new bima gold plan is apt for those insurance seekers who want the benefit of both money back plan and endowment plan simultaneously. Dec 07, 2016 now a days lic has introduced electronic payments like ecs to pay premiums and neft to refund the claims. It has been decided to introduce lic,s new bima gold plan no. The money is repaid at the end of every fourth year of the policy term. Lic money back plan no 820 in hindi with new riders life. Sundaresan insurance adviser v a low cost money back plan with extended term cover this is a very special plan launched in the golden jubilee year with enhanced features of the previous. Whats more, lics new money back policy provides accidental death and disability benefit riders. Policyholders can also avail of loan facility under the policy.
The main feature of bima gold policy is free death cover for 2 years is available even though premiums have not been paid after at least 2 full year premiums have been paid. Lic money back policy is a life insurance policy that offers life cover during term of the policy and the maturity benefit is paid in installments through survival benefits every 5 years. Sep 20, 2016 lic bima diamond money back plan 841 presentation 1. Most of the schemes under this plan offer optional riders along with tax benefits. Life insurance corporation of india benefit illustration. Has an option to choose the fixed policy term of 12 or 16 or 20 years. Lics new money back plan20 years is a participating nonlinked plan which offers an. Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. Sep 12, 2005 drawbacks of the bima gold policy the plan is less flexible with regard to term of the policy that can be opted.
Sbi life smart money back gold provides an excellent package of insurance cum investment solution. It is a plan, where premium is paid till the end of the maturity period, but the policy continues till the end of the extended term, which is half of the policy term. We request you to read this policy schedule along with the policy booklet. The policy may be surrendered after it has been in force for 3 years or more. Lics new bima gold 179 details with premium and benefit. In return for your premiums we will provide benefits as described in the. New bima gold is one of the most popular insurance plan ever sold by life insurance corporation of india lic. Full details 2020 lic money back 20 years plan youtube. Best plan for retirement savings, child future, education, marriage. Lic new bima bachat policy lic money back plan with return. Full details lic money back 20 years plan policy 820 in hindi full details lic money back 20 years plan policy 820 in hindi. Premium needs to be paid till the end of policy maturity.
The name of policy is kept as a bima diamond because it is launched as a part of lics diamond jubilee year celebration 60 th birthday. Dec 29, 2016 loyalty additions depend on the actual performance of the policy taking into consideration the corps mortality experience. What will be the extra benefits one will get under lic new. New bima gold features it is a plan where premiums paid over the term of plan are paid back during the policy term in instalments and life insurance cover is available not only during the term but also during the extended term of the plan. Lic new bima gold plan compare insurance policy quotes. We use cookies to improve your experience on our site and to show you personalised advertising. Invest in sbi life smart money back gold insurance plan, and avail twin benefits of life cover as well as periodic income to meet your financial requirements at. Lic bima diamond is a new money back policy launched by lic recently.
In this article, i would articulate about its features and drawbacks of lic bima bachat single premium plan. Life insurance corporation of india lic money back. A money back plan comes with two types of bonus amounts a reversionary bonus and an additional bonus. This is a money back policy where you get money back at specific intervals. Only 12, 16 and 20year policy are available in comparison to jeevan rekha policy of lic which again is a money back policy with options to choose from 5, 10, 15, 20, 25 and whole life. Bonus amounts help increase payout in a money back policy. Lic new bima gold plan table 179 is a combination of a money back plan and endowment plan. If you find any errors, please return your policy document for effecting corrections. Money back insurance policy sbi life smart money back gold. Lic new bima bachat single premium money back policy table 816. There are different schemes with different terms under this plan.
This is a non unitlinked insurance traditional plan where a certain amount of money is paid as predecided intervals. Apr 01, 2016 lic presented golden jubilee policy bima gold on its 50th golden jubilee year. The reversionary bonus is the bonus declared as a percentage of the sum assured every year by an insurance company. How much time is taken by lic to credit moneyback amount to. Lic bima diamond policy features lic money back policy. Mar 12, 2018 policy numberprotected bima gold, sum assured50, 000. The name of policy is kept as a bima diamond because it is launched as a part of lic s diamond jubilee year celebration 60 th birthday. New bima gold insurance, new bima gold, insurance policy new. Lic new bima gold policy return details benefits example. Lic new bima bachat policy is a nonlinked insurance plan where 15% of the sum assured is paid at the end of every 3 years. Lic money back plan is a popular insurance policy in india. Bima diamond plan 841 close ended,non linked,withprofit, limited premium payment, money back plan with extended risk cover available upto 31st august 2017 only 2. Policy document attached file is in pdf document format. It is a money back plan where a portion of sum assured is paid back at specific intervals as survival benefits.
Sbi life smart money back gold is a monthly income scheme that guarantees regular income to meet your financial requirements and also provides you a life cover. Jan 18, 2012 i bought new bima gold policy from lic in 0ct 2007 term20years, premium 17624 rs money back in every 4 year 50,000 rs last oct i got 5ok after paying 4th premium, now i want to surrender this policy, how much amount i will get. Two times ihad god money back of 5000 but now i have received one intimation letter of survival benefit dated 03012018 ref no425claimssurvival benefit where it is written that rs3924 will be transferred to my bank account for survival benefit. Invest in monthly income insurance policy to secure your future. Hence, performance appraisal can be made only on maturity or there about. Aug 14, 2019 below are the key features of lics new money back policy, bima diamond plan. Lic bima bachat plan is actually a single premium money back plan. Since lic new bima gold has been withdrawn recently, you can no longer buy the plan from lic. Lic new bima bachat plan is a single premium guaranteed money back plan with returns. Lic new bima gold 179 maturity is a combination of money back plan and endowment plan. Check key features, details, benefits, eligibility. Policy term is chosen by the policyholder and premium is paid till the end of the policy term.
Apr 01, 2016 lic money back 20 years policy introduction. Lets take a look at policy features and other details. Apr 21, 2014 lic new golden money back is a plan where premiums paid over the term of plan are paid back during the policy term in instalments and life insurance cover is available not only during the term but also during the extended term of the plan. This video helps you to understand the lic new money back plan table no.
Premium calculator of lic bima diamond841 provides yearly, half yearly, quarterly and monthly premium with money backs details and maturity. Lic money back policy check premiums for 20 years plan with other insurance plans in india. From 16th year to 24th year, you no need to pay the premium. Lic new bima gold plan is a combination of a money back plan and endowment plan with extended cover beyond premium paying term. May 08, 2018 lic bima diamond is a new money back policy launched by lic recently. During policy period, you will receive survival benefits under this plan. Lic new money back 20 years 820 premium calculator get. Lics bima diamond is nonlinked, traditional money back policy. Lic bima gold is a traditional money back policy which pays money back benefits at regular intervals. Home products withdrawn plans new bima gold new bima gold.
Lic new bima bachat single premium money back policy table 816 its a non linked plan like an endowment policy, offers single time investment with features of money back with loyalty additions on maturity. It is a money back plan with an extended life cover even after the policy maturity. Nov 09, 20 lic golden money back is a plan where premiums paid over the term of plan are paid back during the policy term in instalments and life insurance cover is available. Lic s new bima gold plan 179 all details with premium and benefits calculator. Lics bima diamond plan financial support plan money back.
It is a plan where premiums paid over the term of plan are paid back during the policy term in instalments and life insurance cover is available not only during the term but also during the extended term of the plan. Lic money back policy 20 years is a nonlinked life insurance policy which offers an attractive combination of protection against death,guaranteed returns and bonus. Aug 31, 2012 hi, i have a lic policy new bima gold sum assured 100,000half yearly premium 2599policy started on nov 2006premium paid till now 31188 6 years, ie 12 premiums i have received a money back amount of 15000 on 2010 nov. If your policy offers guaranteed returns then these will be clearly marked guaranteed in the illustration table on this page. If i surrender this policy, will there any surrender value. The lic new money back policy can be surrendered only after it accrues cash value after payment of 3 years of premiums. Lic bima gold provides an automatic death cover for two years if the premiums are previously premium is paid for 2 years consecutively.
Lic new bima gold money back plan features lic premium. Check, lics bonus kit bima gold the economic times. Unlike endowment plan in money back plan you will get benefits as periodic payments during the policy period until the policy holder survives. Lic s bima diamond is nonlinked, traditional money back policy.