## LIC New Bima Gold Policy

**LIC New Bima Gold (Closed For Sale)**

Premium Ceasing Age : 75 Premium Ceasing Term : 20

**Plan Highlights **

LIC’s new Bima Gold is a money back type plan where total premiums paid under the policy shall be paid back to the policyholder in installments at the specified durations in case of survival and Sum Assured shall be paid in case of death during the term of the policy irrespective of whether or not any survival benefits have been paid earlier. **Bima Gold is Good Investment option**.

**BENEFITS:**

Death Benefit: On death of the Life Assured during the term of the policy, an amount equal to Sum Assured under the Basic Plan shall be payable provided the life cover is in force.

Survival Benefit: In case the life assured is surviving to the end of the specified durations, the following benefits shall be payable provided the policy is in full force.

For policy term 12 years : 15% of the Sum Assured under Basic Plan at the end of each 4th & 8th policy year

For policy term 16 years : 15% of the Sum Assured under Basic Plan at the end of each 4th, 8th &l2th policy year

For policy term 20 years : 10% of the Sum Assured under Basic Plan at the end of each 4th, 8th, 12th & 16th policy year

**Maturity Benefit:** Total amount of premiums (excluding extra/optional rider premiums, if any) paid plus

Loyalty Additions, if any, less the amount of survival benefits paid earlier, shall be payable in case of Life

Assured surviving to the end of the term provided the policy is in full force.

**LOYALTY ADDITIONS:
**This is a with-profits Plan and the policy shall participate in the profits of the Corporation’s with-profits assurance business. The policy shall, however, be eligible 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.

**OPTIONS:**

Accident Benefit Rider shall be available as an optional benefit for a premium at the rate of Rs.1 per thousand Accident Benefit Rider Sum Assured. Accident Benefit Rider shall be available for an amount not exceeding the Sum Assured under the Basic Plan subject to an overall limit of Rs.50 lakh taking all existing policies of the Life Assured under individual as well as group schemes including policies with in-built accident benefit taken with Life Insurance Corporation of India and other insurance companies and the Accident Benefit Rider Sum Assured under the new proposal into consideration.

**AUTO-COVER:**

If at least two full years premiums have been paid in respect of this policy, any subsequent premium be not duly paid, full death cover shall continue for a period of two years from the date of First Unpaid Premium(FUP). This period of 2 years from FUP shall be called Auto-Cover period.

During the Auto-Cover period, one or more installments of premiums can be paid along with interest without any revival requirements.

On revival or payment of part/full arrears of premiums during Auto-Cover period, the date of FUP will shift and accordingly the Auto-Cover facility shall again be available for two years from the date of revised FUP.

**LOAN:**

Loan facility is available under this plan after the policy acquires paid-up value. The rate of interest to be charged for loan amount would be determined from time to time by the Corporation. Presently the rate of interest is 9% p.a. payable half-yearly.

**MODES OF PREMIUM PAYMENTS:**

Premiums are payable regularly during the policy term with modes of premium payment Yearly, Half-Yearly, Quarterly, Monthly or through salary deductions.

**ELIGIBILITY CONDITIONS AND RESTRICTIONS:**

Minimum age at entry : 14 years (completed)

Maximum age at entry : 63 years nearer birthday

Maximum age at maturity : 75 years nearer birthday

Term 12, 16 or 20 years.

Minimum Sum Assured : Rs. 40,000 I-

Maximum Sum assured : No limit

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

**REBATES FOR HIGH SUM ASSURED:**

Mode Rebate

Rebates are available at the following rates:

Yearly mode : 2% of tabular premium

Half-yearly mode : 1% of tabular premium

Quarterly and SSS mode : NIL

Monthly mode : 5% extra on tabular premium

High Sum Assured Rebates:

Less than Rs. 50,000 : NIL

Rs. 50,000 and Less than Rs.1 Lakh : Rs. 2.5 per thousand Sum Assured

Rs. 1 Lakh and Less than Rs.2 Lakh : Rs. 7.5 per thousand Sum Assured

Rs. 2 Lakh and above : Rs.10 per thousand Sum Assured

**PAID-UP & SURRENDER VALUES (GSV,SSV):**

If after at least three full years premiums have been paid in respect of this policy, any subsequent premium be not duly paid, this policy shall not be wholly void after the expiry of two years Auto Cover Period from the due date of First Unpaid Premium, but shall subsist as a paid up policy for an amount equal to the total premiums paid (excluding any extra/optional premium) less the survival benefits paid earlier, if any. This amount shall be called as Paid Up Value. This paid up value shall be payable on the date of maturity or at Life Assureds prior death. No survival benefit shall be payable under paid up policies. The policy thereafter shall be free from all liabilities for payment of the within mentioned premiums.

The Guaranteed Surrender Value shall be available after completion of at least three policy years and at least three full years premiums have been paid. The Guaranteed Surrender Value is equal to 30 per cent of the total amount of premiums paid excluding the premiums for the first policy year, all extra premiums paid, the premiums paid for Accident Benefit Rider and the amount of survival benefits paid earlier.

Special Surrender Value will be calculated using the surrender value factors as applicable in the case of Endowment Plan and paid-up value as defined above.

Surrender value will not be available on Accident Benefit Rider Option premiums.

** REVIVALS OR REINSTATEMENTS OF LAPSED POLICIES:
**If the Policy has lapsed, it may be revived during the lifetime of the life assured, but within a period of 5 years from the date of first unpaid premium and before the date of maturity, on submission of proof of continued insurability to the satisfaction of the Corporation and the payment of all the arrears of premium together with interest (compounding half-yearly) at such rate as may be prevailing at the time of the payment. The Corporation reserves the right to accept at original terms or accept at revised terms or decline the revival of discontinued policy. The revival of the discontinued policy shall take effect only after the same is approved by the Corporation and is specifically communicated to the Life Assured. Revival of Accident Benefit Rider will only be considered along with revival of the Basic Policy, and not in isolation.

**BACK DATING INTEREST:**

The policies can be dated back within the financial year, as usual. Back- dating interest will be charged at the prevailing rate at the time of completion of policy for dating back in excess of one month. The interest shall be charged even where the policy is back dated to a lean month.

FAQ’s on Life Insurance here.

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## Inquiry

Thank you.

By S RENGANATHAN, January 8, 2010 @ 5:03 pm

Kindly provide the working for NEW BIMA GOLD POLICY for various periods in term of Rs 1000 as policy. Also send the minimum policy amount

By samal s s, February 23, 2010 @ 5:51 pm

sir,

i have invest to new bima gold mode hly rs.4993/-S.A.200000/-for the period 16 years term ,so please calculate and tell me machurity amount.

Tanking you,

By Sameer Trivedi, March 13, 2010 @ 4:20 pm

U will get Rs.30,000/- after 5 years, Rs.30,000 after 10 years, Rs. 30,000 after 15 years and Rs. 1,33,680 after 20 years on maturity.

By mitu, March 16, 2010 @ 9:45 am

Under this policy (LIC Bima Gold) currently i am paying 16,000 PA for the term of 20 year and i have taken this policy FY 2009 – 2010

Can you please calculated and tell me how much amount i get back and what interval of time and other benefit

By Manash Ranjan Nayak, March 17, 2010 @ 5:26 pm

I have LIC New Bima Gold Policy amounting Rs. 150000 for a period of 20 years. I have giving Rs. 1436 on quarterly basis. My date of birth is 10.07.1984. My age is 25 Years.

By Rajiv gandhi, March 25, 2010 @ 1:52 pm

My Poilcy no is : 764667141 from 2006 starting the 1 lakh bima gold policy after 4 yrs i will not receive the bonus amount pl reply.when i got?

Chennai,

9786928401

By Rajiv gandhi, March 25, 2010 @ 1:53 pm

AMOUNT: 100000,PERIOD:20 YRS,D.O.B: 03.05.1985

POLICY NO :764667141

WHAT ABOUT MY BONUS AMOUNT AFTER 4 YRS

By SUKUMAR BOSE, March 29, 2010 @ 10:37 am

Kindly provide the working for NEW BIMA GOLD POLICY for duration periods in term of Rs 1000( per month) as policy. Also send the minimum policy amount

By kuljeet singh manhas, March 29, 2010 @ 2:25 pm

I will get a policy of Rs. 400000/- in Sep. 2006 and what will the total benefit on maturity.

By kuljeet singh manhas, March 29, 2010 @ 2:27 pm

Rs. 400000/- year 2006, 08-01-1978

Udhampur 9419333825

By surya, March 30, 2010 @ 1:16 pm

sir,

i have invest to new bima gold mode yearly rs.17600/-S.A.500000/-for the period 20 years term ,so please calculate and tell me maturity amount & money back amount

Tanking you,

By Sameer Trivedi, March 31, 2010 @ 7:01 pm

u will get 5% of sum assured every 5 years & get 3,75,980 on Maturity.

By Akshay, April 10, 2010 @ 7:45 pm

Hi,

I would like to go for this policy , but am a bit confused between the 16 year & 20 year plan seeing the % of sum insured. Would like to have an advise from you on this.

My DOB is 23/04/1979

Investing amount per year could be around 1lakh twenty five thousand inr, for the first four years and then i expect it to be reduced if i donot withdraw the amount on the fifth year.

Please could you give me a detail work out on this in excel.

By mahendran, April 24, 2010 @ 10:44 am

I taken New Bema gold policy.yearly payment 20250/Rs.sum assured 4,00,000/RS.Terms 12 years.so please calculate my maximam mony back and end of meturity amount with bonus.

By Rajendiran, May 4, 2010 @ 1:02 pm

Dear sir,

I have paid Rs 26150/- annually for the term of 4 years. The sum assured for the New Bhima gold policy is 500000. Please let me know when and how much amount will i be get back after every 4 years? Please let me know how much amount will i be get on maturity?(after 16 years)

Thanks in advance.

Regards,

Rajendiran

By Nischala, May 5, 2010 @ 3:06 pm

Investment amount: 2000/ per month

Period: 20 years

City Name: visakhapatnam

Contact No: 9866196782

DOB: 27-03-1974

By keshav, May 11, 2010 @ 10:14 pm

would you please help me to calculate my returns on the following bhima gold:

yearly payment – 1.42 lakhs

Sum assured – 25 lakhs

Period – 12 years.

If you don’t mind please show me how to run the calculation. thanks,

By Ramu Bugatha, May 14, 2010 @ 2:19 pm

I have invested in New Bima Gold. Mode Monthly 1895/- and the sum assured of 4,00,000 for the period of 16 years. Kindly calculate and tell me the money back amt and maturity amt and loyalty addtion

By Prem Ruhela, May 17, 2010 @ 2:18 pm

Dear Sir,

I want to know that the amount of paid by LIC in every four year is deduct in the matured value of Beema Policy

By H S Pradhan, August 27, 2010 @ 9:49 am

sir,

i have invest to new bima gold mode qly rs.4554/-S.A.500000/-for the period 26 years term ,so please calculate and tell me machurity amount.

Tanking you,

By H S Pradhan, August 27, 2010 @ 9:53 am

sir,

i have invest to new bima gold mode yearly rs.17600/-S.A.500000/-for the period 20 years term ,so please calculate and tell me maturity amount & money back amount

Tanking you,

By Sameer Trivedi, August 29, 2010 @ 2:03 pm

Resend your querry with City Name, Cell No, Date of Birthdate.

By surendra laikara, September 7, 2010 @ 4:25 pm

please tell my 1st bonous detail of my policy no. 500773115(new bima gold)

name:surendra singh lekara s/o sh. chandagi ram lekara

By surendra laikara, September 7, 2010 @ 4:32 pm

INV. AMOUNT:100000

PD:30YRS

CITY:SADULPUR(CHURU)

CONTACT NO.:9799272606

DOB:05-07-1976

By Sagar, September 23, 2010 @ 2:16 pm

sir,

i have invest to new bima gold mode yearly rs.3750/-S.A.200000/-for the period 20 years term ,so please calculate and tell me maturity amount & money back amount

Tanking you,

By DEEN DAYAL SHARMA, September 25, 2010 @ 3:09 pm

I HAVE INVESTED IN NEW BIMA GOLD AS SUM ASSURED OF RS. 5,00,000/- AND PAYING RS. 18700/- ANNUAL PERMIUM. I HAVE PAID THREE YEAR PRIMIUM.

KINDLY BRIEF ME ABOUT PAID UP VALUE OF THIS PLAN

By racharla srinath, September 27, 2010 @ 10:40 am

sir,

i want to a good insurace polocy.please give a good adveice. and Which premium is best between new bhima gold and jeevan anand.my age is 25 completed now.

By racharla srinath, September 27, 2010 @ 10:41 am

please tell me which is the good polocy in lic.

By jmk travels, October 8, 2010 @ 10:07 am

for any type of taxi service in kalka,shimla,chandigarh and all india pls cont aman anand .09729289041.

By raghu, October 11, 2010 @ 9:35 am

sir,

i have invest to new bima gold mode yearly rs.58000-for the period 12 years term ,so please calculate and tell me maturity amount & money back amount

Tanking you,

By rakesh Kumar, October 13, 2010 @ 3:43 pm

sir,

i have invest to new bima gold mode yearly rs.21500/-S.A.500000/-for the period 20 years term ,so please calculate and tell me maturity amount & money back amount

Tanking you,

By geeta, October 20, 2010 @ 2:28 pm

sir,

I have invest to new bima gold mode quarterly rs. 3400+200(3600) S.A. two lakhs for the period of 16 years , so please calcuate and tell me maturtiy amount and money back amount.

thanking you,

Geeta

1.10.1966

9810506853

By geeta, October 20, 2010 @ 2:31 pm

sir,

How to know my to new bima gold mode quarterly rs. 3400+200(3600) S.A. two lakhs for the period of 16 year kindly tell me total amount of 16 years maturity & money back.

thanking you,

Geeta

1.10.1966

9810506853

By J. Anand, sikkim, 06/06/1985, October 23, 2010 @ 1:40 pm

sir, i want to apply New bima gold policy hailfyearly rs. 12500/-, S.A. 500000 for the period of 16 years term, please calculate the maturity amount and money back amount.

thank you.

By RAJESH KUMAR MISHRA, November 6, 2010 @ 2:36 pm

MY POLICY NO IS 353513176.(LICS NEW BIMA GOLD)

PL TELL ME ABOUT MY MONY BACK POLICY.

By Gaurav, November 10, 2010 @ 3:04 pm

I have purchased a new bima gold policy of 20 yrs, s.a-500000/-,prm.yearly mode.

please tell me the full amt to be recd at the time of maturity inlcdg the money back amt

thanks

By ravi, November 11, 2010 @ 9:02 pm

I have invested 7118 p.a. in Dec.2007 for Bima gold with sum assured of 2 lacs. what are the retuns I will get after 4, 8, 12, 16 years, i.e. 10% of sum assured, i.e. 20,000. right?

Also, what is the amount I can expect at thet time of maturity?

Also, what is the value I will get if I surrender in Dec, after completing 3 years.

By kulasekaran, November 15, 2010 @ 2:48 pm

I have invest to The Endowment Assurance Policy – Limited Payment Yearly Rs.13140/-S.A.300000/-

for the policy term 25 years, Premium paying term 20 years ,so please calculate and tell me maturity amount & money back amount

Tanking you,

By Kumar, December 19, 2010 @ 2:08 pm

I am 28 now. I have BIMA GOLD SA 50000 with accident and extended ter, bnft. paying QTLY 538.00 since Jan 2007. Policy Term : 20 years . Please advise how much I will get less Rs. 5000 received on 2011,2015,2019,2023 in 2027.

By Dr. L M Kundu, December 28, 2010 @ 12:48 pm

My Bima Gold premium is Rs. 15,600/ annually and its for 16 years. Kindly provide me the maturity amount.

By Dr. L M Kundu, December 28, 2010 @ 2:46 pm

My Bima Gold premium is Rs. 15,600/ annually, Sum assured Rs. 300000/ and its for 16 years. Kindly provide me the maturity amount.

By pankaj awasthi, December 31, 2010 @ 11:29 am

i have taken new bima gold policy for 16 years for monthly installment 1582 s.a. 350000/- so plz tell me what is the maturity amt after 16 yrs

By Ravi, January 6, 2011 @ 11:21 am

Hello Sameer,

I would like to know if what the interest rate I would get once the sum assured amount will match with criteria. I am planning to invest in Bima Gold Plan, MOP: Yearly, For 12 yrs.

What Interest rates would be applicable after completing 04 yrs successfully.

By nilesh agrawal, January 26, 2011 @ 12:04 am

kindly tell me the break up of returns i will get for a bima gold policy with yearly premium rs.49856/- and sum assured rs.9,99,000/- for 20 years.

nilesh agrawal.

brahmapuri, district-chandrapur, maharashtra,

dob 23.11.1983

contact no. 07877825819

By Vikram Rai, January 30, 2011 @ 11:52 am

Sir, I have invest new bima gold policy mode Rs. 1822 quarterly for 20 years term. plz calculate the maturity amount.

By Viswandh, January 31, 2011 @ 12:57 pm

sir,

i have invest on 26-05.2009 to New Bima Gold mode Quarterly RS.6425/-S.A.5,00,000/-for the period 16 years term ,so please calculate and tell me maturity amount.My date of Birth 28-05-0981

Tanking you,

Viswanadh

By sanjeev kumar, July 4, 2011 @ 5:09 pm

I have invest to The Endowment Assurance Policy – Limited Payment Yearly Rs.12000/-S.A.300000/-

for the policy term 25 years, Premium paying term 20 years ,so please calculate and tell me maturity amount & money back amount

Tanking you,

By Rayar, July 14, 2011 @ 1:56 pm

Dear,

i’m paying 50,000 INR per year in new bhima gold policy.i paid last year.so next year i will pay same 50000.let me know how much they will give 4th year.thanks in advance.

By admin, August 11, 2011 @ 6:30 pm

Kindly submit detail like sum assured, premium terms etc.

By viniod kumar, August 29, 2011 @ 3:35 pm

Sir, I have invest new bima gold policy mode Rs. 1822 quarterly for 20 years term. plz calculate the maturity amount and how much money back after every 4 years.

By bhagaban das, September 13, 2011 @ 9:25 pm

i have a bima gold policy for 20 years.my premium Rs,902 Quaterly,sum assured 1 lacks,i want to know the maturity amount after 20 years,excluding 10% money back amount.

By Vandana, September 28, 2011 @ 1:09 pm

sir,

i have invest to new bima gold mode yearly rs.3750/-S.A.200000/-for the period 20 years term ,so please calculate and tell me maturity amount & money back amount. My age is 12/02/1985.

By sathishkumar.A, November 29, 2011 @ 11:40 am

sir,

i have invest to new bima gold mode hly rs.35448/-S.A.1000000/-for the period 20 years term ,so please calculate and tell me machurity amount.

Tanking you,

By sandip mishra, January 30, 2012 @ 4:50 pm

sir i invest a monthly amount of Rs 3008 in the bima gold policy.SA is 1000000 and its a 20 year plan.Do let me know the amount that I would get at the end of 4,8,12,16 years and also the amount that I would get at maturity.

By nagesh, February 12, 2012 @ 6:16 am

dear sir, my wife dob is 22/08/1985 pls tell the premium for 5laks sa and what is the returns

By Kunal Karmakar, April 14, 2012 @ 3:45 pm

my birtday is on 1o july 1990.I have invested in bima gold Rs 3720 yearly,20 yrs term,s,a 100000,,how will i get in maturity????plz reply sir…

By admin, April 23, 2012 @ 6:27 pm

Tell me the term it should be 8,12 or 15 yrs?

By admin, April 23, 2012 @ 6:34 pm

10,000 at 4,8,12 yrs & on matuirty it 16 yrs 80,200/-.

By kapil goyal, October 29, 2013 @ 9:13 am

i hv purchased bima gold in march 2006 .sum assured is rs 200000 .premium rs 3133 hyly .please let me know which amount will i will get on maturity.i m confused for loyality addission which per cent will be’

By Sathyaprakash, December 30, 2013 @ 8:40 am

My age is 23.I take bima gold policy for 3 lakh for 20 years..Can you please tell howmuch I get as maturity amount