LIC's New Bima Gold - Table 179 is a special plan combining a money back and endowment plan, with policy terms of 12, 16, or 20 years. It offers benefits like 100% of the sum assured during the policy term and 50% during the extended term, along with maturity benefits based on premiums paid and survival benefits at specific intervals. This plan is managed by LIC, India's oldest insurance company, with a strong customer base and substantial assets.

1. LIC’s New Bima Gold– Table 179
By Ravi Kumar,
Financial Advisor
Blue Sapphire Financial Services
Mobile: 9900113820 / 9900253820
Email : ravi.kumar@bsfinancials.com
Web : http://www.bsfinancials.com
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2. LIC’s New Bima Gold – Table 179
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LIC New Bima Gold Plan is a combination of a money
back plan and endowment plan
Hence it is considered as a “Special Plan”
Policy Term is chosen by the policyholder (12/16/20
yrs)
The policy continues even beyond the Policy Term till
the end of the Extended Term (half of policy term)
Death Benefit during the Policy Term is 100% of the
S.A. and during the Extended term is 50% of the S.A.
Maturity Benefit is paid at the end of the Policy Term
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3. LIC’s New Bima Gold – Table 179
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Death Benefit: In case of death of the Life Insured
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Survival Benefit: In case the Life Insured survives,
he would get:
 During the Policy Term, then 100% of the S.A. is paid
 After the Policy Term but during the Extended Term, then
50% of the S.A. is paid
 15% of the S.A. is paid at the end of the 4th and 8th year for
Policy Term of 12 years
 15% of the S.A. is paid at the end of the 4th, 8th and 12th year
for Policy Term of 16 years
 10% of the S.A. is paid at the end of the 4th, 8th, 12th and
16th year for Policy Term of 20 years
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Maturity Benefit: Total amount of premiums paid
– Survival Benefits paid + Loyalty Additions
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4. LIC’s New Bima Gold – Table 179
#
Title
Value
1
Minimum age of entry
2
Maximum age of entry
57 / 51 / 45 yrs
For 12, 16 and 20 yrs
3
Maximum maturity age
75 years
End of Extended term
4
Policy term
12 / 16 / 20 yrs
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5
Minimum S.A.
Rs.50,000
6
Maximum Premium
No Limit
7
Modes Allowed
Yly, Hly, Qly, SSS, Yly – Yearly, Hly – Half
Yearly, Qly – Quarterly
ECS*
8
Accident Benefit
-
14 years
Comment (if any)
age last birthday
Allowed
*SSS – Salary Savings Scheme, ECS – Electronic Clearing Service
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5. LIC’s New Bima Gold – Table 179
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Mr.Hemanth aged 35 years takes a 20 years
policy for Rs.2 lacs S.A. He also opts for
Accident Benefit Rider for Rs.2 lacs. He pays a
yearly premium of Rs.8,020.
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On his survival, he gets survival benefits of Rs.20,000
(10% S.A., i.e. Rs. 20,000) each at the end of 4th, 8th,
12th and 16th year (total of Rs.80,000).
On maturity, i.e. at the end of 20th policy year he
gets Rs.76,400 (total premium paid for 20 years i.e.
8,020 * 20 = 1,60,400 – 4,000 of ABR – 80,000 of
Survival Benefits) + Loyalty Addition (if any)
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6. LIC’s New Bima Gold – Table 179
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On death of Mr.Hemanth during the policy
term (say during the 17th year)* :
◦ Nominee will receive Rs. 2 lacs on natural death
◦ Nominee will receive Rs.4 lacs on accidental death
* This is apart from the Survival benefit paid earlier
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On death of Mr.Hemanth during the extended
policy term (say during the 23th year)** :
◦ Nominee will receive Rs. 1 lac (50 % of S.A.) either
in case of natural death or accidental death
** Loyalty addition is applicable only for Maturity benefit.
Also, Accident Benefit is NOT available during extended
term.
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7. LIC’s New Bima Gold – Table 179
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India’s oldest and largest Insurance company
Winner of some of the most prestigious
awards such as CNBC Awaaz, Outlook Money,
Golden Peacock, etc.
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Total Assets of Rs. 13,17, 416 crores
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Life Fund in excess of Rs.11,51,200 crores
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More than 53 different products
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More than 16 crore customers
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8. LIC’s New Bima Gold– Table 179