New Bima Gold

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.

Also Read  New Money Back Plan 821 (25 years)

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. 

  1. I have a bhima gold policy taken in Feb’2007 .Its is a 20 years money back policy.can u please tell me when will I get my first return and also want to know if I could avaial a loan on this policy and how much could I avail.

  2. B Srinivasa Reddy July 30, 2011 at 12:35 pm

    I Have taken new bilma gold policy and premium amount is 49889/- yearly sum assured is 1000000 with 10% return after 4,8,12,16 yrs for 20 yrs. what will be matured amount after 20 yrs.

  3. BHOOPENDRA KUMR PANDEY July 11, 2011 at 9:33 pm

    my policy is money back policy.Every bonus period (05years) bonus amount found less of actual amount.I have been regularly paid premium amount by salary deduction.Why less amount paid by LIC in bonus?

  4. What are the benefits of NEW BIMA GOLD plan?

    What are the benefits of JEEVAN SARAL Plan?

  5. how much i can get if i propose samruddiplus vth 30000 single premuium

  6. I TRANSFER FROM RAIGARH (C.G ) TO HAJIPUR (BIHAR) POLICY NO.384178569

  7. SAROJ KUMAR TIWARI March 15, 2011 at 3:30 pm

    Dear sir,

    I Have taken new bilma gold policy and premium amount is 17565/- half yearly sum assured is 1000000 with 10% return after 4,8,12,16 yrs for 20 yrs. what will be matured amount after 20 yrs.

  8. HALLO MY FRIEND,
    Please help me also AS EARLY AS POSSIBLE
    I have one LIC BIMA GOLD(PLAN179) Policy for 12years,S. A. is Rs.500000/- My yearly premium is Rs.58416/- And for my wife for the same polycy,same plan,& same S.A. but the premium is Rs.45750/- yearly.
    1) Why the difference on premium only for age difference.
    2) For 12 years I am paying total Rs 700992/- After 13 years am getting Rs 500000+LOYALTY (if any) So am thinking this is not profitable IF I DEPOSIT THIS PREMIUM AMOUNT Rs.58416/- FOR 12 YEARS IN FIXED DEPOSIT OR R.D. IN A BANK FOR A MINIMUM 8% INT (QTRLY REST) FOR 13 YEARS THE TOTAL AMOUNT WILL BECOME A VERY BIG AMOUNT. Here am paying higher amount & getting less amount only. AM GETTING EXTENDED 6 YEARS INSURANCE (IF ACCIDENTS OR DEATH HAPPENS. FOR THAT AM PAYING BIG AMOUNT Rs.200992/- +INT) AM I CORRECT OR NOT MY FRIEND.
    3) For my wife am paying total Rs.549000/- On matuerity getting 500000/-+L.A. if any.Here Rs.49000/- + INT FOR THE EXTENDED TERM INSURANCE
    I PAID THE MINIMUM FOR 3 INSTAMENTS(YEARLY). I AM THINKING THIS POLYCY IS A BIG LOSS. MY FRIEND IF I STOPS NOW WHAT IS THE EFFECT. HEAVY LOSS. OR WHAT I WANT TO DO PLEASE GUIDE ME URGENTLY. I HOPE, WAIT FOR YOUR REPLY THANK YOU VERY MUCH.antonjohny@yahoo.com

    • Don’t compare Insurance with investment or any other money instruments.. Insurance has not substitude.. while investmet has.

      Continue the policy with good faith..

  9. hi, i check my nav . what should i do

  10. i am gold club mamber from lic of india iam allrady coverd about 3000000\- tharty lack if i need more suminsored from lic of india theay can giveing me more covereg or not my itr is 350000\-@per year or iam 38 year fit &fine let me no thanks

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