Comments on: Bima Bachat

By: Tabrej

Tabrej — Sat, 21 Jan 2012 20:50:31 +0000

Can you write in details so that all can read? You may write and send it our email address. we will publish your article.

By: Devendra

Devendra — Sat, 21 Jan 2012 03:38:00 +0000

Bima Bachat is a POOR POLICY not good for investors.

Calculation of a 12 year policy term is illustrated below:

A B C D E
72145 5.292% 3 84216 12071
69216 5.292% 3 80797 11581
65797 5.292% 3 76805 11008
61805 5.292% 3 72146 0

A refers to premium deposit with LIC. In first year investor deposits Rs.72,145/-
B refers to rate of interest which is constant based on maturity proceeds which is eqv. to premium paid
C is yearly interval term after which LIC pays you
D is maturity amount after every C i.e. 3 years based on deposit held at the beginning of the period (A*(1+B)^C) = Cumulative interest formula
E is the actual return (D-A)
Now after third year what an investor got is Rs.15,000/- however since the yield comes to Rs.12,071/- the difference is deducted from the Premium Deposit i.e. Rs.72,145-15,000+12,071 = 69,216 (opening balance at the end of 4th year)
This way we learn that the return rate is not good for the financial health of investor.
for income tax rebate this is not a healthy option

By: Amarjeet

Amarjeet — Thu, 12 Jan 2012 18:35:37 +0000

what is maturity Bima Bachat
Policy afte 9 year for SA 20000

By: Ketan Mistry

Ketan Mistry — Wed, 11 Jan 2012 11:05:35 +0000

Tax benefit is available under Section 80C on Table No 175-09-1 Yearly Primium ?

By: ANIL KUMAR

ANIL KUMAR — Fri, 30 Dec 2011 14:17:53 +0000

Any one want to take good plan in Delhi and NCR pls contect me
Anil Sangwan (8826781130) Lic Agent

By: TR

TR — Mon, 12 Dec 2011 03:48:05 +0000

Kindly advise whether the moneyback we receive at 3/6/9 yrs and the money we receive at maturity is TAX free.
Regards

By: Baldev Raj

Baldev Raj — Sun, 11 Dec 2011 13:09:46 +0000

Dear manager,

I want to buy this policy, but I am not clear about it. Could you kindly workout a table of return back amount including maturity for rupees 2 lakhs as on today and email it to me for easy referral.
Thanking you

regards…………….

By: Jayant Mahabole

Jayant Mahabole — Sat, 10 Dec 2011 15:04:14 +0000

Hi, I am in lic of india as a adviser / agent from last 17 years.

Please contact me for any of your requirments.

I am from pune ( Maharashtra) India.

By: preeti

preeti — Fri, 09 Dec 2011 08:22:45 +0000

i bought jeevan Anand policy and bima bachat policy of Rs. 28000/- i know the premium of this polices. my date of birth 26.08.1981.
bima bachat policy for 9 yrs. only i bought

By: Divakar

Divakar — Sun, 04 Sep 2011 06:42:59 +0000

I have Bima Bachat Policy, below are the details
Sum Assured : 100000
Premium Paid : 73089
Term : 12 years
Date of Maturity : 22.01.2022

Please inform me that when will I start getting survival benefit, (as stated in the policy it is 3, 6 & 9th year for 12 year paln)

Is it automatic or I have to remind or follow up with LIC for survival benefits?