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.

Also Read  Jeevan Nischay

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.

  1. 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 ?


  2. 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.

  3. 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.


  4. 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?

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

  6. 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.

  7. the figures as 60,000 for SA 2L , were as at 15% the same should be 30,000

  8. 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

    • That is brilliant , how could you find out 5.292%?, but that is so perfect.

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

  9. what is maturity Bima Bachat
    Policy afte 9 year for SA 20000

  10. Tax benefit is available under Section 80C on Table No 175-09-1 Yearly Primium ?

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