Maturity benefit at the maturity of the policy, if both or anyone of the 2 life insured are alive, then sum assured with accrued bonus is paid as maturity benefit death benefit in case of death of one of the life insured, i. 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. Lics bima diamond is nonlinked, traditional money back policy. Lic new bima gold lic policy features lic premium and. Let us have a detailed look at lic s new bima gold plan 179.
It is a participating, nonlinked policy that offers guaranteed payouts and a final addition bonus. Lics new bima gold plan 179 all details with premium and benefits calculator. Life insurance corporation of india benefit illustration. Lics new money back plan20 years is a participating nonlinked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. I am receiving a lot of queries regarding the benefit pattern and insurance coverage details of this plan at insurancefunda. Gold never loses its value, just like lic of india s new bima gold insurance policy. Lic bima diamond in hindi summary of lic bima diamond plan table no. Whats more, lics new money back policy provides accidental death and disability benefit riders. New bima gold life insurance policy by lic plan no.
Lic new bima gold money back plan features lic premium and. Lics new bima gold 179 is a money back plan where a portion of sum. 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. Life insurance corporation of india new money back plan20. Hence, first, let us understand what us auto cover period for lics bima diamond plan no. It is declared at the rate of per of sum assured for a particular policy term every year and this rate is applicable to such. Since then, till the year 2000, the company has enjoyed a monopoly position in the life insurance segment and has created a customer base of more than 250 million individuals. No surrender value is available if the polices are canceled before at least 3 years premiums are paid. What will be the extra benefits one will get under lic new. They specified the auto cover into two periods as below. 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. Lic new bima bachat plan is a participating money back plan where the premium is paid as lump sum amount at the outset of the policy. Difference between bonus and loyalty addition in lic policies. This new plan is a nonlinked, traditional money back policy.
This is the 6th year, i have to pay my premium next month. Lic new bima gold plan table 179 is a combination of a money back plan and endowment plan. It has been decided to introduce lic,s new bima gold plan no. Life insurance corporation of india lic is celebrating this year 2016 as its diamond jubilee year. By using this website you agree to our cookie policy.
The below illustration is for a healthy male nontobacco user opting for a sum assured of rs 1,00,000 for a policy term of 20 years. It is one of the largest insurance companies in the country. The unique identification number of the lics beema diamond plan is 512n307v01. Sample illustration of premium of lic new bima gold plan. Lic health plus nav plan policy 901 details premium. Lic bima diamond is a new conventional money back plan from lic of india of the ocassion of lics 60 years of diamond jubilee celebrations. Premium paying terms available are 12, 16 and 20 years. Lic issued a special policy on its golden jubilee year called the lic bima gold. Lic new bima gold policy return details benefits example. The life insurance corporation of india was formed in the year 1956 as the sole life insurance company in india. It is a money back plan where a portion of sum assured is paid back at specific intervals as survival benefits. Premium needs to be paid till the end of policy maturity.
In case of unfortunate demise of the insured person during the tenure of the policy, 100 % of the sum assured is paid to the beneficiary of the policy. Lets take a look at policy features and other details. Please enter correct sum assured, premium, premium paying term, policy term, last premium paid date and your personal details. We have published the lic reversionary bonus chart together with the lic bonus calculation formula. Lic bima diamond plan has been withdrawn by lic and is not available for sale and purchase.
More videos of lic new bima gold, lic new bima gold policy, new. 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 check premiums for 20 years plan with other insurance plans in india. Maturity benefit available at the end of the premium paying term. Lic jeevan saathi joint life plan lic policy features. New bima gold insurance, new bima gold, insurance policy.
If policyholder survives up to the policy period, then he will receive the below benefits. Payable in case of life assured surviving to the end of the specified durations provided the policy is in full force as given below. On life assured surviving the premium paying term of the policy. Lic new bima gold plan is a combination of a money back plan and endowment plan with extended cover beyond premium paying term. Hence, performance appraisal can be made only on maturity or there about.
Loyalty additions depend on the actual performance of the policy taking into consideration the corps mortality experience. Lic policies can be surrendered for cash after at least 3 years premiums have been paid. New bima gold 179 lic of india s u g g e s t i v e p l a n date of commencement. Time period within which a policy can be revived has been increased from two to three years. Life insurance corporation of india completes the 60th anniversary in 2016 and to celebrate the diamond jubilee year, the company has launched a brand new life insurance product bima diamond plan. List of all latest lic of india insurance policies. Lics new bima gold table 179 lic new bima gold plan is a combination of a money back plan and endowment plan hence it is considered as a special plan policy term is chosen by the policyholder 121620 yrs the policy continues even beyond the policy term till the end of the extended term half of policy term death benefit during. We use cookies to improve your experience on our site and to show you personalised advertising. Lic new bima gold 179 maturity is a combination of money back plan and endowment plan. Check key features, details, benefits, eligibility. 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.
Lic presented golden jubilee policy bima gold on its 50th golden jubilee year. What information i managed to get from lic website is that at the maturity of the policy term, the insured will get. However, advise to policyholders not to surrender or. Every individual has an inherent trust in lics brand. Gold plan 179, lic new bima gold ppt, lic new bima gold pdf, lic.
Auto cover and loan facility is available on successful completion of 3 policy years. It is a money back plan where survival benefits are payable on every fourth year. Under this lic bima gold, an individual has to pay a regular premium throughout the selected policy term 12 or 16 or 20. The company offers a range of insurance and investment products such as insurance plans, pension plans, unitlinked plans and group schemes among others. The return from this policy is either 125% of the sum assured or two times of all the premiums. 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. Lics new bima gold 179 details with premium and benefit. New bima gold is one of the most popular insurance plan ever sold by life insurance corporation of india lic. Life insurance corporation of india new money back plan. Lics new bima gold 179 maturity, insurance coverage and. This is a new plan with money back pay outs for people who opt for this plan. Lic calculator maturity calculator surrender value. Benefits provided by lic new bima gold plan death benefit. Lic bima gold policy was introduced on 01092005 and withdrawn on 01042006.
Policy document attached file is in pdf document format. Lic bima gold provides an automatic death cover for two years if the premiums are previously premium is paid for 2 years consecutively. Lic calculator gives you a fair estimate of the surrender value, bonus, loan, paid up and projected maturity value on the basis of the total premium paid. This unique combination provides financial support for the family of the deceased policyholder any time before. Lic bonus rates for 201516 is out with no major changes. Marking the 60th anniversary celebrations, lic is coming up with a new money back plan called as lic bima diamond plan no 841. Lics new money back plan20 years is a participating nonlinked plan which offers an. This policy was issued for a limited tenure and is now withdrawn. Lic bima bachat plan 816 was introduced by life insurance corporation of india on 07th january 2014 with uin number 512n284v01. The life insurance corporation of india lic is a governmentowned insurance group and investment company. Lics new bima gold 179 maturity, insurance coverage, and benefits calculator. Lic bima diamond is a new money back policy launched by lic recently.
This data will be used to calculate and determine the approximate values. This policy claims that your life risk will continue even though you will not pay the premium. Also, a simple reversionary bonus is payable on maturity. Lic new bima gold policy was reintroduced after withdrawal of lic bima gold plan 174, with all features and benefits similar to plan 174 and new bima gold plan 179 is also having additional benefit of extended cover i. The unique identification number uin for lic of india s new bima gold plan is 512n236v01. New bima gold is by far one of the most popular insurance plan launched by lic of india.
1129 1538 1403 74 748 179 461 303 196 715 120 1362 536 1034 1555 92 384 1014 1226 1375 199 954 906 787 397 432 335 688 868 1162 767 5 1597 43 1213 389 691 300 655 1 786 641 217