Bima Bachat Policy 916

Bima Bachat 916 – LIC Bima Bachat 916 Policy Details

Bima Bachat 916 Policy is a single premium, non-linked, with profits money back type plan.

Premium Payment Mode

Single Premium

Duration / Term

9 Year

12 Year

15 Year

Minimum Entry Age

15 Years Completed

Maximum Age at Maturity

Term 9 Year then 59 Years (Nearest Birthday)

Term 12 Year then 62 Years (Nearest Birthday)

Term 15 Year then 65 Years (Nearest Birthday)

Maximum Entry Age

50 Years

Minimum Sum Assured

Term 9 Year then 35000

Term 12 Year then 50000

Term 15 Year then 70000

Maximum Sum Assured

No Limit (Depending upon your Income)

On Rsik

During 1st five years policy years. Sum Assured only

After completion of five policy years. Sum Assured + Loyalty Addition, if any.


For policy Term of 9 Years – 15% of SA, after 3rd and 6th policy year.

For policy term of 12 Years – 15% of SA, after 3rd, 6th and 9th policy year

For policy term of 15 years – 15% of SA, after 3rd, 6th, 9th and 12th policy year.

Maturity Time

Single Premium Paid + Loyalty Additions, if any


The policy can be surrendered at any time during the policy term subject to realization of the premium cheque.

Guaranteed Surrender

Fist Year: 70% of the single premium excluding taxes and extra premium if any.

Thereafter: 90% of the single premium excluding taxes, extra premium, if any and all survival benefits paid earlier.


Loan facility is available under this plan at any time after completion of one policy year.

Income Tax

Premium paid under this plan is eligible for Tax rebate under section 80C