LIC New Bima Gold Plan

Recommendations :No

Name of the policy :
LIC New Bima Gold Plan

A brief desciption :

LIC New Bima Gold Plan is a combination of a money back plan and endowment plan with extended cover beyond premium paying term. Hence it is categorized under Special Plans. This is a non unit-linked insurance plan. 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 Policy Term after the Policy Term ends. During the Policy Term, Survival Benefit is paid at regular and pre-decided intervals. After the Policy Term ends, the total of the (Premiums Paid + Loyalty Additions Survival Benefit already paid) is paid as Maturity Benefit and 50% of the Sum Assured as Life Coverage continues till the end of the Extended Term. No premium is paid during the Extended Term.

Started date :4/4/2006
Type of policy :Insurance cum investment
Category :Traditional-Endowment Plan
Insurance :Min- 50,000 Max- No Limit
Returns expected :Less than Fixed Deposit
Entry age :Min- 15 Max- 57 years for term of 12 years 51 years for term of 16 years 45 years for term of 20 years
Unique features :It is a Money Back Plan with only difference that Premium is paid till end of the Policy Term and Survival Benefits are also received till then, the Life Cover continues for an Extended Term, after the Policy Term ends no further Premium or Survival Benef

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Table of Contents