LIC Bima Bachat is a life insurance plan offered by the largest life insurer of the country. It is a policy under which an individual pays single premium over the life time and receives money back at regular and fixed intervals along with returns on the money invested. The policy is available in three different tenures i.e. nine, twelve and fifteen years with company paying survival benefit after every three years subject to 15% of the sum assured. Under the plan, if the life insured dies within the policy tenure, then whole sum assured is given to the nominee irrespective of the sum paid to the insured as survival benefit. But in case of maturity of the plan, entire single premium paid plus bonus is paid to the insured.


The LIC Bima Bachat policy is suitable for an individual who don’t wants to bother to pay premiums over a fixed tenure rather pay a single premium which can be very high. LIC Bima Bachat is the only policy with money back features that provides option and facility of a loan. An insured is also entitled to receive loyalty at the time of maturity but loyalty amounts are variable and not fixed. The policy can be taken by an individual over the age of 15 years but not older than 66 years which is a pre-requisite of the plan. The policy also gives an option for an earlier termination subjected after one year and on earlier termination, surrender value is provided to the insured. The surrender value is generally equal to 90% of the single premium paid to the insurer.

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