1) The document compares two LIC plans - Bima Bachat Plan No. 175 and New Bima Bachat Plan No. 816. 2) The new plan modifies some benefits like loan amount, surrender value calculation, and policyholder bearing service tax. 3) However, there is no change to survival benefits percentages, maximum age at entry/maturity, minimum sum assured amounts.

2. Bima Bachat Plan
Plan No. 175
New Bima Bachat plan
Plan No. 816
Maturity Benefit Maturity Benefit
Single Premium Paid along with
loyalty addition less extra
premiums ,if any.
Single Premium Paid along with loyalty addition
less Taxes and extra premiums ,if any
Death Claim Benefit Death Claim Benefit
Payment of Sum Assured First 5 years:
Sum Assured shall be payable.
After completion of 5 years:
Sum Assured and Loyalty Additions, if any shall
be payable.
LIC’s New Bima Bachat Plan
Benefits
Death
Benefit
Modified

3. Year->
Term ↓
SURVIVAL BENEFIT
(as a percentage of Sum Assured )
3RD 6TH 9TH 12TH 15th
9 15% 15% MAT XXX
12 15% 15% 15% MAT
15 15% 15% 15% 15% MAT
LIC’s New Bima Bachat Plan - Benefits
There is no change in the percentage of Survival Benefit payable under
Bima Bachat – Plan 175 and New Bima Bachat Plan - 816
No Change
in SB

4. Particulars
Description
Plan No 175
Bima Bachat
Plan No. 816
New Bima Bachat
Age at
entry
15 to 66 years
irrespective of the
policy term
Minimu
m
Maximum
15 years
Term = 9 Term = 12 Term = 15
66 yrs 63 yrs 60 yrs
Age at
Maturity
Maximum
75 Years
Maximum 75 Years
Policy
Term
9 , 12 and 15 years 9 , 12 and 15 years
Basic Sum
Assured
Minimum 20000 and
in multiple of Rs
5000 No upper limit
Minimum Maximum
Term = 9 Term = 12 Term = 15 Term = 9/12/15
35000 50000 70000
No upper Limit
SA shall be in
multiple of
Rs.5000
LIC’s New Bima Bachat Plan
Eligibility Conditions and Restrictions
Age at Entry
and SA based
on policy term

5. New Bima Bachat
Plan 816
Policy
Term
Sum Assured Band
% of
Tabular
Premium
9
years
Less than 75000 Nil
75000 to less than 150000 6%
150000 and above 8%
12
years
Less than 100000 Nil
100000 and less than
200000
4%
200000 and above 6%
15
years
Less than 150000 Nil
150000 and less than
300000
3%
300000 and above 5%
LIC’s New Bima Bachat Plan
High Sum Assured RebatE
Bima Bachat Plan No. 175
Policy Term
Sum Assured Band % of
Tabula
r
premi
um
Policy
term –
9,12 and
15 years
Less than
50000
Nil
50000 and less
than 100000 5%
100000 and
less than
200000
7%
200000
And above 8%

6. LIC’s Bima Bachat
Plan No 175
LIC’s Bima Bachat
Plan No. 816
Available after completion of 1 year. Available at any time during the policy term
subject to realisation of the premium cheque.
No Loyalty Addition payable. No Loyalty Addition payable.
Higher of GSV or SSV payable Higher of GSV or SSV payable
Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)
GSV is equal to 90% of the single
premium paid excluding extra premium
and less amount of Survival benefits
paid earlier.
1st Year ~ 70% of Single Premium
excluding taxes and extra premium,if any.
Thereafter ~ 90% of Single Premium
excluding all Survival Benefits paid earlier,
taxes and extra premium, if any.
Special Surrender Value (SSV) Special Surrender Value (SSV)
Discounted value of Single Premium
paid excluding extra premium, if any.
Discounted value of Single Premium paid
excluding taxes and extra premium,if any.
LIC’s New Bima Bachat Plan
Surrender Value
SV available
at any time.
GSV
modified

7. LIC’s Bima Bachat
Plan No 175
LIC’s Bima Bachat
Plan No. 816
Loan available after payment of first
premium.
Loan facility available after completion of
1 policy year
Loan can be granted upto 90% of the
Special Surrender Value
Loan can be granted upto 60% of
Surrender Value.
LIC’s New Bima Bachat Plan - Loan
Loan ~ Modified

8. Table No 175
Bima Bachat Plan
Table No 816
New Bima Bachat Plan
Service Tax was borne by the
corporation.
Service Tax shall be applicable at the
prevailing rates and borne by the
policyholder as per rules.
There shall be no change in
the following Items
Back Dating
Paid-up Value
Assignment/Nomination
LIC’s New Bima Bachat Plan