Life Insurance Products

Founded in 1956, Life Insurance Corporation of India (LIC) is the largest life insurance company in the country with a total income of Rs. 492626.60 crore and total assets worth Rs. 2572028.34 Cr It’s fully owned by the Government of India & is also the county’s largest investor.

Understand Life Insurance
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Plan No. 916
  • LIC’s New Bima Bachat plan offers the Life cover, Savings & Guaranteed pay-outs by paying Single Premium
  • This plan offers Guaranteed 15% of Sum Assured at regular intervals depending on the term of the policy that customer choose
  • On maturity, customer gets back the Single premium paid along the loyalty addition, if any
  • This plan has an option of choosing the Accidental Life cover & Disability Benefit
  • This plan also has the option of taking the Maturity proceeds in instalments as the policy-holder can choose the no of year as 5, 10 or 15.
  • In a similar way, the policyholder also has the option of choosing the death benefit in instalments.
  • LIC also offer the discount in the premium in case the mode of payment is Yearly and also in case of high sum assured
  • The loan is also available to the policyholder after the completion of 1 year of the policy
  • Settlement option avilable on Maturity and Death in Installments of 5,10 or 15 Years
How Does This Policy Work
Sample illustration
Eligibility Criteria
Min. Max.
Age 15 Years(Completed) 50 Years (Near Birthday)
Policy Term 9,12 & 15 years
Premium Payment Term Same as Policy Term
Basic Sum Assured Rs. 35,000 for Term=9 Years
Rs,50,000 for Term=12 Years
Rs.70,000 for Term=15 Years
No Limit
Maximum Maturity Age 59 Years for Term = 9 Years
62 Years for Term = 12 Years
65 Years for Term = 15 Years
Rider LIC's NEW TERM ASSURANCE RIDER (TR)
Rider LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER
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Investment Advisory - Number of Complaints for the month of December 2020

All the beginning of the month Received during the month of December2020 - NIL Resolved during the month of December 2020 - NIL Pending at the end of the month - NIL Resons for pendancy
NIL NIL NIL NIL NIL

Disclosure as per Securities and Exchange Board of India ( Investment Advisors ) Regulations, 2013