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Home » Products » Withdrawn Plans » LIC's New Bima Gold (Plan No. 179, UIN : 512N236V01) » Eligibility Conditions And Other Restriction

Eligibility Condition And Other Restriction

FOR BASIC PLAN: 
 

Minimum age at entry :14 years (completed)
Maximum age at entry :57 years (nearest birthday) for Term 12 years
  :51 years (nearest birthday) for Term 16 years
   45 years (nearest birthday) for Term 20 years
Age at expiry of extended term :Maximum 75 years (nearest birthday)
Term :12, 16 and 20 years.
Minimum Sum Assured :Rs. 50,000 /-
Maximum Sum assured :No limit


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

FOR THE ACCIDENT BENEFIT RIDER OPTION :

Minimum age at entry :18 years (completed)
Maximum age at entry :57 years (nearest birthday) for Term 12 years
  :51 years (nearest birthday) for Term 16 years
   45 years (nearest birthday) for Term 20 years
Minimum Sum Assured :Rs. 50,000 /-


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

REBATES / EXTRA FOR MODE OF PREMIUM PAYMENT AND HIGH SUM ASSURED:

Mode Rebate / Extra

Rebates are available at the following rates:

Yearly mode :2% of tabular premium
Half-yearly mode :1% of tabular premium
Quarterly and SSS modes :NIL
Monthly mode  5% extra on tabular premium


  High Sum Assured Rebates:

Less than Rs. 1 Lakh :NIL
Rs. 1 Lakh and Less than Rs.2 Lakh :Rs.5 per thousand Sum Assured
Rs. 2 Lakh and above :Rs.7.5 per thousand Sum Assured

 

EXCLUSIONS:


This policy will be void if the Life Assured commits suicide at anytime on or after the date on which the risk on the policy has commenced but before the expiry of one year from the date of commencement of risk under the policy. In case of death due to suicide during this period, the Corporation will not entertain any claim by virtue of this policy except to the extent of a third party's bonafide beneficial interest acquired in the policy for valuable consideration of which notice has been given in writing to the office to which premiums under this policy were paid, at least one calendar month prior to death.