Premium Payment
Single Premium
The sample premium rates are as under: -
|
Age
|
Annual Premium per 1000 SA
|
|
9
|
12
|
15
|
|
15
|
716.40
|
771.35
|
804.00
|
|
20
|
717.20
|
771.85
|
804.40
|
|
25
|
717.55
|
772.25
|
804.95
|
|
30
|
718.45
|
773.35
|
806.10
|
|
35
|
721.05
|
775.75
|
808.55
|
|
40
|
725.80
|
780.25
|
812.95
|
|
45
|
734.10
|
787.60
|
819.60
|
|
50
|
746.60
|
797.90
|
828.95
|
|
55
|
762.65
|
811.95
|
841.75
|
|
60
|
784.80
|
831.30
|
859.35
|
|
65
|
816.25
|
-
|
-
|
What incentives do I get for a higher sum assured?
Let’s take an example of a 30 year old with a Bima Bachat policy for 12 years. If the sum assured is Rs 45,000 then he has to pay a premium of Rs 34800.75. But for a sum assured amount of Rs 50,000 he will have to pay a premium of Rs 36734.13 only, thus getting a 5% rebate in premium.
Refer to the table below for other rebate percentages:
| Conditions for Rebate |
Percentages |
| Less than Rs. 50,000 |
NIL |
| Rs. 50,000 and Less than Rs.1 lakh |
5% |
| Rs. 1 lakh and Less than Rs.2 lakh |
7% |
| Rs. 2 lakh and above |
8% |