LIC Bima Bachat

Bima Bachat

Bima Bachat Summary:
LIC Bima Bachat (Table No.175) is a single premium money-back policy. Bima Bachat offers financial security and assurance to the policyholder and his family.


Death Benefits:
During the Term of the policy, if the Life Assured is dead, apart from survival benefits if any, paid earlier, an amount equal to SA will be paid.

Survival benefits:
Survival benefits (15% of SA) are paid at the 3rd, 6th, 9th & 12th policy year respectively depending on the policy term. On maturity, the single premium paid along with Loyalty addition if any will be paid back.

Maturity Benefit/Survival benefit for 2 lakh SA: (30yrs age)

Policy Term3rd Year6th Year9th Year12th year
9 years60,00060,000Final Maturity
12 years60,00060,00060,000Final Maturity
15 years60,00060,00060,00060,000

Eligibility Conditions and Restrictions LIC Bima Bachat:

Min. age at entry: 15 years (completed).
Max. age at entry: 66 years (Nearest).
Min. S.A.: Rs. 20,000
Max. SA.: Any Amount.
SA in multiples: Rs. 5000
Max. Maturity age: 75 years (Nearest).
Terms Available: 9, 12, or 15 years.
Modes Allowed: All
Dating Back @ 8%: Allowed
Term Rider Option: Not available
Critical Illness Rider: Not available
Policy Loan: Available

Surrender Values:
The Bima Bachat can be surrendered after 1 year. The Guaranteed Surrender Value is equal to 90% of the single premium paid excluding the extra premium paid and the survival benefits paid earlier.

Bima Bachat Examples:
Let me give you an example to understand this policy.  Mr. Dilip aged 30 years takes a Bima Bachat Policy for 15 years term for Rs 2 lakhs SA. He pays a single premium of Rs. 1,48,322. He receives Survival Benefit of rs 30,000 each at the end of 3rd, 6th, 9th & 12th year respectively. On Maturity, he will receive Rs 1,48,322 being the single Premium paid by Dilip. Thus total amount received by him will be Rs 2,68,322 (Rs 1,20,000 as Survival Benefits + 1,48,322 as single Premium paid) + LA if any. If Mr. Dilip dies during the 13th policy year, his nominee will get Rs 2 lakh as SA as a death benefit (Survival benefit of Rs 30000 each received during 3rd, 6th, 9th & 12th year will not be deducted from the SA). hence the total amount received would be Rs. 3,20,000.

Tax benefit (Updated)
Any life insurance policy except pension plan issued after April 1, 2012, should have risk cover of at least 10 times the annual premium to be eligible for the tax benefit under section 80C and section 10(10D) of income tax act 1961. For example: if your annual premium is Rs.10,000/- then your basic sum assured should be min. Rs.1 lac to be eligible for tax benefit.

Cooling off period:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to Life Insurance Corporation Of India within 15 days. 

Update: Bima Bachat has been discontinued.

85 thoughts on “Bima Bachat”

  1. i want to know whether under bima bachat scheme one has under go medical test if his age is more than 60 ? s.rengarajan

  2. i am interested in beema bachat policy , i want to know that how much tax deducting will be at the time of maturity ( 15 year policy) policy amt is 500000

  3. I have a Bima Bachat Policy for the sum assured 2,00,000/- Single Premium paid 135912 on 5/01/2006, – I rcvd survivil benefit in two terms. h. I would like to know the total amount is to be available if I close the policy this month. Your kind advise is highly appreciated.

    Thank you
    Narayanan Adieyari V

  4. subhash chandra karmakar

    my age if is 62 years and if i open a policy in bima bachat scheme with sum assured for 2 lakh in one time investment of Rs154763 without any money back in installments what will be the total sum that i get at the end of 12 years

  5. sir,

    i am going to invest rs.100000- in bima bachat policy.

    so, i request you to kindly give all the benefits to my mail id. i will invest regarding income tax purpose.

    thanks and regards


  6. i have bima bachat policy of 410000rs and 14 months have been passed locking period is no more so if i surrender it how much will i get refunds

  7. What are the medical requirement of person of 66 yrs. Is medical check necessary.

    Also Do you mean that in Bima Bachat plan we will receive total SA amount + 15% SA in 3rd yr , 6th yr, 9ths yr & 12th yr + loyalty .

    Thanks ,Reena

  8. I m 59,nearly retired.Want to take BIMA BACHAT for 9 years with SA Rs.75000/-
    I want to know what tax benefit I will get in this FY?
    What initial amt need to be paid?
    what money back I will get after3,6 and on maturity?
    Pl reply without any obligation

  9. “In the budget government had announced that all insurance policies, except pension plans will have to offer a cover of at least ten times the annual premium to be eligible for tax benefits under Section 80C and Section 10 (10D) of Insurance Act.

    LIC BIMA BACHAT DOESN’T GIVE 80(C) as well as 10(10d) benefit…..

    1. Hi Shaiju,

      The information that was mentioned in comment section was old. I have update the tax benefit on main page.

      Thanks for pointing out.

  10. Hello Sir ,

    My grand daughter is studying in 4 th std. I would like to invest 30000 on her name for 9 years.
    a) Is that possible?
    b) If so What will be the return?
    c) Can i re-invest the Survival Benefit ?


  11. Dear Sir,
    If I invest in Bima bachat with the premium around 2 to 2.5 Lacs & i want to take the loan immediate.

    Is this possible? if yes then how much % of the total premium & when? pl. do reply asap.

    Thanking you
    Sunil R.

  12. Hi Sir,

    The LIC agent thru which we want to take Bima bachat policy said that after 15 years, we will get the LA amout (loyalty addition ) equal to SA. For example if sum assured is 2 lakhs, we will get 2lakhs SA+2 lakhs LA as per the current LA value. IS it true??

    What is LA. how it will be calculated. Please clarify on this.


  13. 1) on money received after every 3 years is there a tax on it
    2)Is there any word ‘tax exemption’ in calculations of death/maturity calculations?

  14. whether benefit under section 10(10D) of Income Tax is applicable for policy under Table 175 (Beema Bachat)!

  15. Hello,
    I want to take “Bima bachat” & i will start with the minimum amount, please tell me answer of the below mentioned questions:

    1. What will be the minimum amount ?
    2. Is this a one time payment policy? (I.e if i will pay to start rs. 20000 then there is no need to pay more right?)
    3. If i will not continue this policy after 3 years what will be the return? (by one example please say, suppose i have started with rs. 20000 so after 3 years of completion what will be my return?)
    4. The most impostant question is after investing 20000 for this policy will i show this investment for my tax excemption?

    Waiting for your quick reply.

  16. Bima Bachat is a POOR POLICY not good for investors.

    Calculation of a 12 year policy term is illustrated below:

    A B C D E
    72145 5.292% 3 84216 12071
    69216 5.292% 3 80797 11581
    65797 5.292% 3 76805 11008
    61805 5.292% 3 72146 0

    A refers to premium deposit with LIC. In first year investor deposits Rs.72,145/-
    B refers to rate of interest which is constant based on maturity proceeds which is eqv. to premium paid
    C is yearly interval term after which LIC pays you
    D is maturity amount after every C i.e. 3 years based on deposit held at the beginning of the period (A*(1+B)^C) = Cumulative interest formula
    E is the actual return (D-A)
    Now after third year what an investor got is Rs.15,000/- however since the yield comes to Rs.12,071/- the difference is deducted from the Premium Deposit i.e. Rs.72,145-15,000+12,071 = 69,216 (opening balance at the end of 4th year)
    This way we learn that the return rate is not good for the financial health of investor.
    for income tax rebate this is not a healthy option

    1. Can you write in details so that all can read? You may write and send it our email address. we will publish your article.

  17. Kindly advise whether the moneyback we receive at 3/6/9 yrs and the money we receive at maturity is TAX free.


  18. Dear manager,

    I want to buy this policy, but I am not clear about it. Could you kindly workout a table of return back amount including maturity for rupees 2 lakhs as on today and email it to me for easy referral.
    Thanking you


  19. Hi, I am in lic of india as a adviser / agent from last 17 years.

    Please contact me for any of your requirments.

    I am from pune ( Maharashtra) India.

  20. i bought jeevan Anand policy and bima bachat policy of Rs. 28000/- i know the premium of this polices. my date of birth 26.08.1981.
    bima bachat policy for 9 yrs. only i bought

  21. I have Bima Bachat Policy, below are the details
    Sum Assured : 100000
    Premium Paid : 73089
    Term : 12 years
    Date of Maturity : 22.01.2022

    Please inform me that when will I start getting survival benefit, (as stated in the policy it is 3, 6 & 9th year for 12 year paln)

    Is it automatic or I have to remind or follow up with LIC for survival benefits?

  22. i am 62 years old and want to invest in bima bachat policy rs 40000/ let me know in detail how much i will get in three instalment and in the last

  23. if i take Bima bachat
    a. the intersted given is fre from Income Tax?
    B. the periodic money back is free from IT?
    C. if i avail loan on the Bima Bachat is that loan amoutn is tazable?

  24. Dear Sir,
    I have taken Bima Bachat policy for Rs.150000-(SA).
    Cost of single premium is Rs.109481-
    TT: 175 09

    It is mentioned in the policy under Spl Provisions regarding
    Loyalty Additions. Kindly explain the same.

    Thanking you,

  25. i want to invest in bima bachat i want to know what is the rate of interst in policy and can i take my money back on the complete of 3years of policy my agent told me that i can take my total money back on 3rd year

  26. if i take a bima bachat policy for a 15 year term for Rs 1 lakh SA then my single premium would be Rs.74,893.
    Q1 – how much can i show for tax purposes?
    Q2 – can that same amount be shown for 15 years for tax purposes?

  27. Sir,

    I want policy for my daughter, she is born on 17th March 2011.

    I want to plan for her studies. Like after 3 years her admission fee & donation etc exp. cover by policy and when she will in 10th slandered class after that for professional studies exp.

    Pleaes advise me for which type of plan suitable for my daughter.

    Regards / Manish

    1. Congratulation Manish,

      you can choose Child career or child future plan. Komal jeevan is also good. Read the details and choose any one..

  28. sir ,my aunt applay for bima bachat she is 52 yearold widow and her application get rejected so kindly can i know your age related criteria affect ibecaus she is” 52 yearold widow”

      1. If the lady falls under category III, ‘widows without income’, LIC does not allow insurance. Reason , there is no insurable interest for her family members.

  29. Jaynath Sisodiya

    I bought 2 policy for 30K SA for each. Now my question is when I will be able to take loan against this policy ?

    As per 1 agent I can avail loan very next day but other is saying you have to wait for a year. Please confirm


  30. sir ,

    I have purchached Beemabachat table 175 for 9 year SA 50000 and single premium Rs34103 can I get tax benifit over section 80 c for rs 34103

  31. Prakash Agarwalla

    My yrly income is 1.5 lac. Presently i have policier apprx 5. 00 lac. Now i want to buy such a plan which can give 20 to 25 lac risk cover at a yearly premium of Rs.15 thousand which will be refundable at the time of maturity. My age is 42 yrs.

  32. I had a enquiry with the LIC Agent reg. Bima Bacht. He come up with what ever premium I am paying it will be considered for Tax free .. irrespective of 20% sum assured as it is a Single Premium policy. Pl confirm if any body knows clear details abt tax deduction for this policy ?

  33. AruneshChandra Mathurchandra Nag


    Recently I open a bima bachat policy for nine years.So far i did not receive the certificate. And at the same time would you please send the details of nine years return and maturity amount chart. I am 47 yeras old and paid one time Rs52629


  34. I am56 years old… I have only one son,who is a NRI,and comfortably off.I do not have any dependents.I have a steady income of approx 20,000 coming in to take care of my monthly expenses.I am retd. I wish to invest Rs.2,00,000 in LIC scheme. My questions:
    1) Should I at all invest in LIC,or better to invest in FDs/ mutualfunds?
    2) If LIC, is Bheema bachat a good option?
    3) If not,which is the best option?

  35. I have purchased beema bachat of Rs. 991433/- for 9 years on 31.12.2009. Now due to some reasons I want to surrender the policy on 31.12.2010. What will be the surrender value.

  36. My D.O.B. is 20th November 1959. My old L.I.C. Policies are almost over.I want to start a new Policy for my old age. Please guide.

  37. what is the rate of Loyalty addition LA on Bheema bachat. Is it calculated on Sum assured amt. Is it likely to increase or decrease in the years to come.


  39. If you are interested to buy any LIC policy from LIC of india. please mail me at I will help you a lot.

  40. I want to invest 25,000 in beema bachat policy. Please provide me details of benefits. Income tax Benefit which I can take from this policy.

  41. I am interested in having a pension plan. I plan to retire during the age of 50. I met a LIC agent few days back who suggested for me to go for bima bachat and jeevan anand for a tenure of 15 years, considering I would need pension plan starting at the age of 50. Do you recommend the same or are there any better plans you would suggest?


  42. -Details of my beema bachat policy are – Sum assured Rs 50000/- & Single premium paid is Rs 34476/-. Pl advice how much benefit I can take for income tax calculation for FY 2009-10.

  43. Pls advise if I can take Income tax benefit under 80 C for Wealth Plus policy for the entire premium amount of Rs. 20000/- paid every year.

  44. I want to buy one policy for my daughter, her age is 18yrs. please advise any good policy for her, may be single premium or any other.

  45. sir, your are mistaking , i have taken an endowment assurance policy with profit + accident denefit , when my age was 26 year , now i am 30 year old , i would like to know that this policy in which i pay premium of 31083.00 will his policy good or should i buy new policy of bima bachat or jeevan sarel

  46. i would like to now that i have invested in endowment assurance policy with profit + accident denefit. my age was 26 year & i pay premium of rs. 31083.00 . i would like to know that is this policy is good & how much it will benefit my in futures is this premium will be fully tax rebales & money i will get after maturity is fully tax free

  47. My closed frend is out of india he is interested to invest in Bima Bhachat shall he shall he complited all formalities though in
    ternet. or what is the Procedure for compliting policy.

  48. i stumbled upon this site while searching for tax benefit under S 80 C for bima bachat policy. already saw my question answered. thank you and keep up the good work.

  49. From FY 2003-2004 premiums paid in excess of 20% of the Sum Assured will not be eligible for Tax free returns under section 10(10D) except in the case of death.

    Also what does this line mean…can you kindly clarify

    1. That means if you invest one lac and your SA is also 1 lakh then you will get 20% tax benefit.

      If you invest one lac and SA is 5 lacs then you will get 100% tax benefit.

  50. Hi Tabrej,
    Wanted to ask that whether I can invest Rs 1 lakh in Bima Bachat and claim full Rs 1 lakh deduction u/s 80 C
    My agent told me that 80/c benefit not available in this policy ????
    Also this website is very informative…keep it up….
    Looking for an early reply

    1. Tax benefit is available on all policies u/s 80C but your yearly premium should not be more than 20% of sum assured.

  51. Agent
    For premium deposit there is any option to pay online premium of my client to pay his/her premium in my account

  52. Sir
    Thank you policy for the mailing however this is not being beneficial to the policy holder the amount that is paid is nothing but Bankrate however the policy holder is to wait for the period of 3 years to get the payment.
    The tax benefit is not mentioned here
    Thanking you

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