LIC’s New Bima Gold Summary: (Table No.179)
Gold never loses its value, just like LIC Of India’s New Bima Gold insurance policy. LIC’s New Bima Gold (plan no.179) is special with a profit money back plan that offers 50% of the life cover during extended term even after maturity.
Features:
Auto-cover Facility: If at least two full years’ premiums have been paid in respect of this policy, any subsequent premium be not duly paid, full death cover shall continue for a period of two years from the date of First Unpaid Premium(FUP) or till the end of the policy term, whichever is earlier.
Benefits:
Survival Benefit: Payable in case of the life assured surviving to the end of the specified durations provided the policy is in full force as given below:
For policy term 12 years:
15% of the Sum Assured under Basic Plan at the end of each 4th & 8th policy year.
For policy term 16 years:
15% of the Sum Assured under Basic Plan at the end of each 4th, 8th &12th policy year.
For policy term 20 years:
10% of the Sum Assured under Basic Plan at the end of each 4th, 8th, 12th & 16th policy year.
On the expiry of policy term:
The total amount of premiums (excluding extra/optional rider premiums, if any) paid plus Loyalty Additions, if any, less the amount of survival benefits paid earlier.
Death Benefit:
During the policy term: Payment of an amount equal to Sum Assured under the Basic Plan on the death of the Life Assured during the policy term provided the life cover is in force.
During the extended term: Payment of an amount equal to 50% of Sum Assured under the Basic Plan on the death of the Life Assured during the extended term provided all the premiums under the policy have been paid.
Extended Term: The extended term shall be half of the policy term after the expiry of the policy term.
Payment of Premiums:
The regular premium can be paid either in yearly, half-yearly, quarterly, or monthly (ECS) installments.
Eligibility Conditions and Restrictions for LIC Of India’s New Bima Gold:
FOR BASIC PLAN:
1. Minimum age at entry: 14 years (completed)
2. Maximum age at entry: 57 years (nearest birthday) for Term 12 years
ii. Maximum age at entry: 51 years (nearest birthday) for Term 16 years
iii.Maximum age at entry: 45 years (nearest birthday) for Term 20 years
Age at expiry of extended term: Maximum 75 years (nearest birthday)
Policy Term: 12, 16 and 20 years.
Minimum Sum Assured: Rs. 50,000 /-
Maximum Sum assured: No limit
Sum Assured will be in multiples of Rs.5,000 /- only.
FOR THE ACCIDENT BENEFIT RIDER OPTION :
1. Minimum age at entry: 18 years (completed)
2. Maximum age at entry: 57 years (nearest birthday) for Term 12 years
ii.Maximum age at entry: 51 years (nearest birthday) for Term 16 years
iii.Maximum age at entry: 45 years (nearest birthday) for Term 20 years
Minimum Sum Assured: Rs. 50,000 /-
Sum Assured will be in multiples of Rs.5,000 /- only.
Cooling off period:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to LIC of India within 15 days.
The Unique Identification Number (UIN) for LIC Of India’s New Bima Gold Plan is 512N236V01.
Update: This plan has been discontinued.
Dear sir,
I am having lic beema gold policy, yearly i have to pay a premium of Rs.38400, first year i paid.Now in 2nd year i am facing financial problem hence i want to modify the premium amount around Rs.20000.Kindly help me.
what is the Jeevan ankur plan
want to take a new bima gold policy, premium amount of Rs. 36k/yearly, of sum assured Rs. 10 lac with 10% return after 4,8,12,16 yrs for 20 yrs. what will be matured amount after 20 yrs?
what are the amounts i will get after 4,8,12 and 16 yrs?
I have a bhima gold policy taken in June’2008 and premium amount is 1975/- quterly sum assured is 200000 with 10% return after 4,8,12,16 yrs for 20 yrs. what will be matured amount after 20 yrs.
pls tell me how much amount i will get at the end on new bima gold policy?
term/15 year
PREMIUM: 26424 per year
new bima gold
pls tell me approximate valve.
Reply
In bima gold plan for 20 years, Can we pay the money through bank 3 months once?
i am taken bima gold money back policy for 15 year, yearly this premium amount is 56848 RS i want to know what is the profit this policy, and i think may be this policy big loss?
sir,
please don’t give the incorrect information regarding bima gold policy. it gives benefit only if the policy holder dies, if the policy holder survives this policy is nothing but cheating one. there is no any guarantee for the returns. there is no bonus for this policy and the said loyalty addition also unknown. how can we believe the returns and benefits regarding this policy.
my wife has subscribed this policy. we paid the premium for seven years, the amount rs.53000. in the fifth year lic gave rs.21000 to us. now our money rs.32000 is in lic. we wished to surrender this policy and approached the lic office, at there, the concerned officer said that the surrender value of this policy is rs.6000. do you know the value of our loss, the principle is rs.26000 plus interest for the seven years may be rs.10000, at least, whose money is this. is this good. it is nothing but cheating and fraud.
please don’t say this policy as a good one.
with kind regards
sivakumar
Hi
I want to take a new bima gold policy, premium amount of Rs. 36k/yearly, of sum assured Rs. 10 lac with 10% return after 4,8,12,16 yrs for 20 yrs. what will be matured amount after 20 yrs?
what are the amounts i will get after 4,8,12 and 16 yrs?
pls tell me how much amount i will get at the end on new bima gold policy?
term: 16 years
SA: 50,000
PREMIUM: 2194 per year
new bima gold
pls tell me approximate valve.