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.
Please tell me which is the best suitable policy for me i need to invest 12000 per year from jan 2011 because i am just married so i need to save good amount through lic which should give me good returns in short period. please mr. Tabrez note i am looking for money back policy because i have already endowment policy .
thanks & Regards
kaleem
9901045088
i have a new bima gold table no. 179 money back police. monthely premium is rs.1156.00 sum assured rs.300000.00 what will be the maturity value after 20years
police date 28.08.2008
In LIC New Bima Gold Policy After 20 years completion, amount that will get will be:- Total premiums paid -Survival benefits(each 4th,8th,12th & 16th year of completion) or there is additional benefit on it also present in this policy.
Plz tell me that after 20yrs how much amount i will get if Rs.1745/- paid quarterly.
and in this after 4 years ,10% i will get of sum assured 2 lacs or the premiums which i have paid till 4 years.
after 4 years completion cheque will be directly send to my home or what.
Plz give this details as soon as possible.
this site will be useful for the people who are interested in taking lic policies
Thank you sir.
i want to take the policy of new bhimagold plan 179. will i get tax exemption of 100% under section 80c. please clarify.
Yes.
i am pradeep kumar.i have taken bima gold money back policy
but i am paying 3940 Rs annualy so what will be the net ammout
after 20 years at maturity.
I am Paying Rs 5000/month in LIC 179 Gold Plan for 20 years plan.How much return i will get at the end of 4,8,12,16,20 th year.
I am planningfor LIC policy,please give me a clear idea,what type of policy is good for tax deduction
All plan will give you tax benefit
Hi,
If new bima gold policy of Rs. 10 Lakh. of rs .25856/- paid every six months (started on May2008). Then what will be the maturity amount? and what are the amounts received 4th, 8th & 12th years
thanks
Phani
I have new bima gold policy (#572012382) table no.179. I have paid 2 terms and 3rd term was on march 2010 which i did’nt pay at. pls help me how to send on line and my policy details.