Bima Bachat (Table – 175)
Bima Bachat is a single premium money back plan where single premium paid under the policy shall be paid back to the policyholder along with Loyalty Additions, if any, on maturity. In addition, the survival benefit installment are payable of survival of the policyholder till the specified duration. The plan also provides the payment of Sum Assured in case of death during the term of the policy irrespective of whether of Sum Assured in case of death during the term of the policy irrespective of whether of not any survival benefits, have been paid earlier. No rider benefits shall be available.
This is a participating plan and the policy shall participate in the profits of the corporation’s with-profits assurance business. The policy shall, however not be eligible for reversionary bonuses and shall participate to a share of profits in the form of Loyalty Addition (one time) only payable on maturity. On the Life Assured surviving the stipulated date of maturity, the policy may be eligible for payment of Loyalty Addition, if any, depending upon the experience of the Corporation at such rate and on such terms as may be declared by the Corporation.