Bima Nivesh 2005 Plan Summary:
Bima Nivesh 2005 (Table No.171) is an investment plan that gives you compound rate of guaranteed additions and loyalty additions. Bima Nivesh 2005 is the revised version of our popular Bima Nivesh Plan 2004 and is introduced to meet the overwhelming demand for a single premium plan from LIC customers. Bima Nivesh 2005 is a single premium, ideal investment plan for those who don’t have regular income but good periodical income.

Bima Nivesh 2005 is available for terms 5 and 10 years.

Guaranteed Surrender Value:
The guaranteed surrender value is payable after the policy has run for at least one year.

Term Assurance Rider:
Term Assurance Rider is also available by payment of a single premium at the option of the proposer.

Maturity Benefit:
Sum Assured + compounded G.A. + Loyalty Addition, if any.

Death Benefit:
On death, nominee will receive Sum Assured along with the Compounded Guaranteed Additions plus Loyalty Addition, if any.

Guaranteed Additions:
Guaranteed additions at the compound rate of Rs.50 per thousand Sum Assured per annum for the policy with term of 5 years and at the compound rate of Rs.55 per thousand Sum Assured per annum for the policy with term of 10 years.
Loyalty Addition: Depending upon the LIC’s experience with regard to mortality, interest and expenses and based on term of the policy, Loyalty addition, if any, may be declared by the LIC and paid on maturity.

Eligibility Conditions and restrictions for Bima Nivesh plan

For the Main Plan
Term Assurance Option
Min. Age at entry
13 years completed
18 years completed
Max. Age at entry
70 years
50 years
Max. Maturity Age
75 years
60 years
Policy Term
5 yrs. and 10 yrs
Same as main plan
Sum Assured
Maximum – No limit.

Min. Sum Assured – Rs.1,00,000/-
Max. Sum Assured – An amount up to the basic Sum Assured for Term Assurance subject to a maximum of Rs.25 lakh overall Option limit, under all policies of the life assured.

Surrender Value:
Surrender value is payable after the policy has run at least for one year.
Riders: Term Assurance rider is available.

This is Single Premium Investment Plan, that means you need to pay premium only once.

The Term Rider Premium depends on the age nearer birthday and the term of the policy.

Premium Rebate:
1% of basic premium on the premium in excess of Rs.50,000.
Rs.500 plus 1.5% of basic premium on the premium in excess of Rs.1,00,000.

Loan on Policy:
Loan will be available to the policyholders under this Bima Nivesh within the Surrender Value.

Bima Nivesh 2005 Example:
Mr. Anand takes a 5 year term Bima Nivesh 2005 policy for Rs.1 lakh Sum Assured. On maturity, Mr. Anand will receive Rs.1,27,628 (Rs.1,00,000 SA+ Rs 27628 being guaranteed Addition @ Rs 50 per 1000 SA compounded annually). In addition, he is also eligible to receive loyalty Addition, if any, declared by LIC. In case, he dies before maturity, his nominee will receive Rs. 1 lakh SA + accrued GA at Rs 50 per 1000 SA per annum.

How to Apply for LIC Of India’s Jeevan Bharati 1?
Contact your nearest Life Insurance Corporation Of India (LIC of India) Branch/ LIC Agent. Or
Fill the Application form to apply online. (Mumbai only)

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The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.

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