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
Duration / Term
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
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)
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.
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.
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.
Premium paid under this plan is eligible for Tax rebate under section 80C