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  LIC Jeevan Tarun - Children's Plan with Money Back

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. Any one want to take good plan in Delhi and NCR pls contect me
    Anil Sangwan (8826781130) Lic Agent

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


  3. 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


  4. 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.

  5. 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

  6. 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?

  7. kamleshprabhakar August 12, 2011 at 12:45 pm

    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

  8. 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?

  9. Bunty Dhiman Lic Agnet 02851-133 June 13, 2011 at 12:45 pm

    Detail Of Any Policy of LIC… Cont. 9915439278

  10. 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,

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