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LIC's Bima Bachat

Bima Bachat Table no-816                         

LIC’s Bima Bachat is a money-back policy which offers financial security and assurance to the policy holder and his family. Bima Bachat requires the policy holder to pay only one premium. The amount paid for the premium depends on the duration of the policy taken and life insurance is available till the date of maturity.

What other benefits do I receive during the specified duration of the policy?

For a term of 9 years: The policy holder will receive 15% of the sum assured at the end of every 3rd and 6th policy year.

For a term 12 years: The policy holder will receive 15% of the sum assured at the end of every 3rd, 6th and 9th policy year.

For a term 15 years: The policy holder will receive15% of the sum assured at the end of every 3rd, 6th, 9th and 12th policy year.

What additional benefits do I get upon maturity?

If the policy holder outlives the duration of the policy, at the time of maturity, a single premium payment (excluding extra premium) is made along with loyalty additions, if any.

How much insurance do I get?

The policy holder is insured for an amount equal to the sum assured.

What about the installment received already?

The insurance cover is irrespective of the installments received.

When am I eligible for the guaranteed surrender value?

The guaranteed surrender value is available only after completion of at least one policy year. This value is equal to 90 % of the single premium paid (excluding extra premium).

What other benefits does this insurance cover offer?

Bima Bachat is the only money-back policy that offers a loan facility. The rate of interest for this will be determined from time to time by the corporation. Presently the rate of interest is 9% p.a. payable half-yearly.

It also offers other benefits like the 15 day cooling off period, grace period and revival.


a) Minimum entry age : 15 years (completed)

b) Maximum entry age : 66 years (nearest birthday) for term 9 years

63 years (nearest birthday) for term 12 years

60 years (nearest birthday) for term 15 years

c) Maximum maturity age: : 75 years (nearest birthday)

d) Policy Term : 9, 12 or 15 years.

e) Minimum Sum Assured : Rs.35,000 for term 9 years

Rs.50,000 for term 12 years

Rs.70,000 for term 15 years

f) Maximum Sum assured : No limit

Sum Assured will be in multiples of Rs.5,000 /- only.

g) Premium payment mode : Single Premium only




The sample premium rates (exclusive of taxes) are as under: -

Single Premium per 1000 Sum Assured (Rs)

Age (Nearest birthday)






























High Sum Assured Rebates (As percentage of Tabular Premium) :


Term = 9 years

Less than Rs. 75,000 : NIL

Rs. 75,000 and Less than Rs.150,000 : 6 %

Rs. 150,000 and above . : 8 %

Term =12 years

Less than Rs. 100,000 : NIL

Rs. 100,000 and Less than Rs. 200,000. : 4 %

Rs. 200,000 and above : 6 %


Term =15 years

Less than Rs. 150,000 : NIL

Rs. 150,000 and Less than Rs.300,000 : 3 %

Rs. 300,000 and above : 5 %


4. LOAN :

Loan can be availed under this plan any time after completion of one policy year. The loan shall be equal to 60% of the surrender value as on date of sanction of loan.


Buying a life insurance contract is a long term commitment. However, surrender value is available under the plan on earlier termination of the contract.

The Guaranteed Surrender Value allowable shall be as under:

- First year: 70% of the Single premium excluding taxes and extra premium, if any.

- Thereafter: 90% of the Single premium excluding taxes, extra premium, if any and all survival benefits paid earlier.

The Corporation may, however, pay Special Surrender Value as applicable as on date of surrender provided the same is higher than Guaranteed Surrender Value.


Taxes including Service Tax, if any, shall be as per the Tax laws and the rate of tax as applicable from time to time.

The amount of tax as per the prevailing rates shall be payable by the Life Assured on the single premium including extra premium, if any. The amount of Tax paid shall not be considered for the calculation of benefits payable under the plan.


If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to the Corporation within 15 days from the date of receipt of the policy stating the reason of objections. On receipt of the same the Corporation shall cancel the policy and return the amount of single premium deposited after deducting the proportionate risk premium for the period on cover, charges for medical examination, special reports, if any, and stamp duty.


The policy shall be void if the Life Assured (whether sane or insane) commits suicide at any time within 12 months from the date of commencement of risk and the Corporation will not entertain any claim under this policy except to the extent of 90% of the single premium paid excluding taxes and any extra premium paid.

Statutory warning:
“Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business. If your policy offers guaranteed returns then these will be clearly marked “guaranteed” in the illustration table on this page. If your policy offers variable returns then the illustrations on this page will show two different rates of assumed future investment returns. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance.”

Extract from section 41 of the insurance act:
(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy nor shall any person taking out or renewing or continuing a policy accept any rebate except such rebates as may be allowed in accordance with the published prospectuses or tables of the insurer : provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taking out by himself on his own life shall not be deemed to be acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer.

(2) Any person making default in complying with the provisions of this Section shall be punishable with a fine which may extend to Rs.500 / -

Note : 
“Conditions apply” for which please refer to the policy document or contact our nearest branch office.

Quick links: 

Bima Bachat Brochure Release

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