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PLAN - 179 LIC'S NEW BIMA GOLD (WITH PROFIT) W.E.F. 4/9/2006 |
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| INSURANCE TYPE |
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MONEY BACK PLAN, LOW COST & EXTENDED RISK COVER |
| MINIMUM AGE ENTRY |
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14 YEARS |
| MAXIMUM AGE ENTRY |
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57 YEARS NBD for term 12 years |
| AGE AT EXPIRY OF EXTENDED TERM |
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MAXIMUM 75 YEARS NBD |
| MINIMUM SUM ASSURED |
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Rs. 50000 (thereafter in multiples of Rs.5000) |
| MAXIMUM SUM ASSURED |
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NO LIMIT |
| POLICY TERM |
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12, 16 AND 20 YEARS |
| MODE |
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YLY, HLY, QLY AND MLY |
| MODE REBATE |
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YLY 2%, HLY 1%, MLY 5% EXTRA |
| HIGH S.A. REBATES |
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Less than Rs. 1 lakh: NIL
Rs. 1 lakh or more but less than Rs. 2 lakh: RS. 5% S.A. Rs. 2 lakhs & above : Rs. 7.5%0 S.A. |
| CEIS REBATE |
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10% of T.P. |
| PAID UP VALUE |
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AFTER 3 YEARS |
| POLICY LOAN |
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YES |
| NON-MEDICAL |
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GENERAL: YES, SPECIAL: YES |
| FEMALE |
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CATEGORY: I, II & III |
| AUTO COVER |
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Yes, up to 2 years from FUP (if at least two Full years premiums have been paid) |
| LOYALTY ADDITIONS |
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At the time of Maturity (one time) depending Upon the experience of the Corporation |
| DAB |
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Yes, available during the term of the policy But not applicable during the extended term |
| EXTENDED TERM |
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HALF OF THE POLICY TERM |
| AGE PROOF |
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STANDARD |
| UNDERWRITING |
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Same as for Endowment Plan |
| GUARANTEED S.V. |
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After 3 years, 30% of total premiums paid Excluding first year premium, all etra Premiums paid, DAB premium and the amount of survival benefits paid earlier. |
| BENEFITS |
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| (A) Death Benefits |
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During the Policy term: S.A. |
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During the extended Term: 50% of S.A. |
| (B) Survival Benefits |
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For policy term 12 years : |
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15% of the S.A. at the end of each 4th, 8th, Policy Yr. |
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For policy term 20 years:
10% of the S.A. at the end of each 4th, 8th, 12th & 16th Policy year |
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On expiry of Policy Term:
Total amount of Premiums paid, (Excluding extra/optional rider premiums, if any) plus loyalty additions, if any, less the amount of survival benefits paid earlier |
| REVIVAL |
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YES |
| FORM NO |
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300 or 340 |
| CRITICAL ILLNESS RIDER |
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NO |
| TERM RIDER |
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NO |
