LIC is offering many plans in endowment, term, money back, child plans, annuity plans, pension plans etc.
LIC’s new Bima Bachat 816 is a Single premium, non-linked Endowment Assurance Plan with Profit. Other benefits are also available under this plan like tax benefits, loan facility, and Surrender value at any time etc.
Sum Assured: Minimum limit for the sum assured are Rs. 35,000/- (9 Year Term), Rs. 50,000/-(12 Year Term), Rs. 75,000/- (15 Year Term) and there is no maximum limit.
Policy Term: 9, 12 and 15 Years.
Premium Paying Term: Single Premium Policy.
Entry Age: The minimum entry age of the policy holder should be 15 years and the maximum age limit is 66 Years (in 9 years Term), 63 Years (in 12 Years Term), and 60 Years (15 Years Term).
Maximum Maturity Age: 75 Years.
Maturity Benefits: on maturity, basic sum assured along with vested simple reversionary bonus and the final additional bonus is paid to the policyholder.
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