LIC BIMA ACCOUNT

Jan 31st, 2011No Comments

LIC BIMA Account 1 is new plan ( Plan no 805)  from LIC INDIA with effect from 2nd February, 2011. LIC BIMA ACCOUNT 1 is a without profit Variable Insurance Product wherein the proposals will be accepted under on-medical Scheme only. Under this plan there will be a Policyholder’s Account maintained separately for individual policyholder, which shall consist of two parts;

  • Policyholder’s Regular Premium Account
  • Policyholder’s Top-up Premium Account

LIC BIMA ACCOUNT AT A GLANCE

  • An Endowment  Plan
  • Top up facility policy Available
  • Profit  of corporation will be distributed in the form of guaranteed interest
  • A plan with Guaranteed Interest  6% for Whole Term
  • A very high Risk cover  available also
  • Short Term of 5-7 years
  • Loan Available after 1 Year : 60% of amount in Policyholder’s account
  • Surrender Available even after 1 year but money given after 3 years
  • Zero Surrender Charges

Eligibility Condition

  • Minimum Entry Age : 11 (completed)
  • Maximum Entry Age : 50 (nearest Birthday)
  • Policy Term : 5 to 7
  • Minimum Maturity Age : 18 (completed)
  • Maximum Maturity Age : 57 (nearest Birthday)

Minimum Sum Assured: 10 times the annualized premium

Maximum Sum Assured:

  • 20 times the annualized premium up to age 35 years
  • 14 times the annualized premium for age between 36 to 45years
  • 10 times the annualized premium for age between 46 to 50 years

Premium :

Mode
Yearly
Half Yearly
Quarterly
Monthly (ECS)
Min Premium
7000
4000
2000
600
Max Premium
14000
7000
3500
1100

Top up Premium: Min:1000
Max: Sum total of Regular Premiums paid upto the date of payment of top-up

Death Benefit : Sum Assured ( SA) + Balance in Policy Holders Account
Maturity Benefit : Balance in Policy Holders Account

What  is policy holder A/c?


Net Premium (total premium-Expenses) +6% Interest Guaranteed + Variable Interest declared by LIC INDIA

Surrender

Duration from date of commencement
Surrender Benefit
Before completion of third policy anniversary
The surrender benefit is payable only after completion of third policy anniversary and will be the balance in the Policyholder’s Account as on the date of surrender. During the lock-in period of 3 years from the date of commencement of policy no charges will be deducted from the Policyholder’s Account and no further interest will be credited from the date of surrender.
On or after completion of 3rd policy anniversary
Balance in the Policyholder’s Account shall be payable.
USP of LIC BIMA ACCOUNT 1
  • Traditional Plan with a Ulip Approach
  • Low Premium High Risk Cover
  • No Fear of fluctuation in  bonus  & market
  • Guaranteed Returns along with Variable Interest
  • Short Term Available
  • Liquidity Option is available in short  time
  • Flexibility to Enhance your investment by using top-up Facility

Get a personalized persentation for LIC BIMA ACCOUNT PLAN now

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—An Endowment Plan
—Top up facility policy Available
—Profit of corporation will be distributed in the form of guaranteed interest
—A plan with Guaranteed Interest 6% for Whole Term
—A very high Risk cover available also
—Short Term of 5-7 years
—Loan Available @60% after 1 Year
—Surrender Available even after 1 year but money given in 3 year
—No surrender charges

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