Javascript is not currently enabled in your browser.
You must enable Javascript to run this web page correctly.

"LIC celebrating August 2022 as Iconic month under Azadi Ka Amrit Mahotsav."     "Invitation for Quarterly Earnings Call Q1-FY22-23"     "PUBLIC ANNOUNCEMENT FOR FIRST ANNUAL GENERAL MEETING AND E-VOTING INFORMATION"     "Join the nation-wide 'Har Ghar Tiranga' campaign from 13th to 15th August 2022     "Conference Call on IEV (Indian Embedded Value) as at 31st March, 2022 on 15th July 2022 at 9 AM"     "Individual Pension Policyholders/ Annuitants can submit Digital Life Certificate through mobile app Jeevan Saakshya. App can be downloaded from play store"     "Revised Working Hours of All Offices of LIC Of India from 10.05.2021, pursuant to Notification S.O.1630(E) Dated 15th April 2021 wherein the CENTRAL GOVERNMENT has Declared Every Saturday as a Public Holiday for Life Insurance Corporation of India."     "Dear Policyholder, Please submit Bank Account Details ( NEFT ) to LIC - Click here to Download NEFT Form"     "PLEASE REGISTER IN CUSTOMER PORTAL FOR AVAILING ONLINE SERVICES"     Basic Safety measures to fight against Coronavirus Disease(COVID-19)     Breaking News : LIC premiums can now be paid at the nearest CSC centres throughout the country.     Also on ALL POSSIBLE digital modes through LIC website without any service charges.     Intimation to policyholders regarding changes in tax structure due to implementation of Goods and ServicesTax (GST) - Click Here     Beware of Spurious Phone Call and Fictitious/Fraudulent Offers     Beware of fake / spurious calls - DOs and DONTs     " FRAUDULENT RECRUITMENT ADs: BEWARE...! "     Notice to Public regarding Combination of Products     For Policy enquiry contact LIC Call Centre Services on (022) 68276827     " Know your policy details through SMS to 'ASKLIC' (ASKLIC < policy no > PREMIUM/LOAN/BONUS/REVIVAL/NOMINATION) and send it to 9222492224 "     'SMS "LICHELP < policy no >" and send it to 9222492224 or 56767877 for Policy Enquiry/Product Query/Registering of complaint under your policy     

Home » Products » Withdrawn Plans » LIC's New Bima Gold (Plan No. 179, UIN : 512N236V01) » Benefit Illustration

Benefit Illustration

Statutory warning:
Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your Insurer carrying on life insurance business.  If your policy offers guaranteed returns then these will be clearly marked “guaranteed” in the illustration table on this page.  If your policy offers variable returns then the illustrations on this page will show two different rates of assumed future investment returns.  These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance.

Illustration 1

Age at entry (Life Assured): 35 years
Policy Term: 12 years
Mode of premium payment: Yearly
Sum Assured: Rs.1,00,000/-
Annual Premium : Rs.  6,463
Death Benefit :

Year
Total premium paid
Benefit payable on death during the year
Guaranteed
Variable
Total
 
 
 
Scenario 1
Scenario 2
Scenario 1
Scenario 2
1
6463
100,000
0
0
100,000
100,000
2
12,926
100,000
0
0
100,000
100,000
3
19,389
100,000
0
0
100,000
100,000
4
25,852
100,000
0
0
100,000
100,000
5
32,315
100,000
0
0
100,000
100,000
6
38,778
100,000
0
0
100,000
100,000
7
45,241
100,000
0
0
100,000
100,000
8
51,704
100,000
0
0
100,000
100,000
9
58,167
100,000
0
0
100,000
100,000
10
64,630
100,000
0
0
100,000
100,000
11
71,093
100,000
0
0
100,000
100,000
12
77,556
100,000
0
0
100,000
100,000
13
0
50,000
0
0
50,000
50,000
14
0
50,000
0
0
50,000
50,000
15
0
50,000
0
0
50,000
50,000
16
0
50,000
0
0
50,000
50,000
17
0
50,000
0
0
50,000
50,000
18
0
50,000
0
0
50,000
50,000

Survival Benefits :

End of Year
Total premium paid
Benefit payable on survival at the end of specified year
Guaranteed
Variable
Total
 
 
 
Scenario 1
Scenario 2
Scenario 1
Scenario 2
4
25,852
15,000
0
0
15,000
15,000
8
51,704
15,000
0
0
15,000
15,000
12
77,556
47,556
3,500
18,000
51,056
65,556
Illustration 2

Age at entry (Life Assured): 35 years
Policy Term: 16 years
Mode of premium payment: Yearly
Sum Assured: Rs.1,00,000/-
Annual Premium : Rs. 5,615
Death Benefits :

Year
Total premium paid
Benefit payable on death during the year
Guaranteed
Variable
Total
 
 
 
Scenario 1
 
Scenario 2
Scenario 1
Scenario 2
1
5615
100,000
0
0
100,000
100,000
2
11,230
100,000
0
0
100,000
100,000
3
16,845
100,000
0
0
100,000
100,000
4
22,460
100,000
0
0
100,000
100,000
5
28,075
100,000
0
0
100,000
100,000
6
33,690
100,000
0
0
100,000
100,000
7
39,305
100,000
0
0
100,000
100,000
8
44,920
100,000
0
0
100,000
100,000
9
50,535
100,000
0
0
100,000
100,000
10
56,150
100,000
0
0
100,000
100,000
11
61,765
100,000
0
0
100,000
100,000
12
67,380
100,000
0
0
100,000
100,000
13
72,995
100,000
0
0
100,000
100,000
14
78,610
100,000
0
0
100,000
100,000
15
84,225
100,000
0
0
100,000
100,000
16
89,840
100,000
0
0
100,000
100,000
17
0
50,000
0
0
50,000
50,000
18
0
50,000
0
0
50,000
50,000
19
0
50,000
0
0
50,000
50,000
20
0
50,000
0
0
50,000
50,000
21
0
50,000
0
0
50,000
50,000
22
0
50,000
0
0
50,000
50,000
23
0
50,000
0
0
50,000
50,000
24
0
50,000
0
0
50,000
50,000

Survival Benefits :

End of Year
Total premium paid
Benefit payable on survival at the end of specified year
Guaranteed
Variable
Total
 
 
 
Scenario 1
Scenario 2
Scenario 1
Scenario 2
4
22,460
15,000
0
0
15,000
15,000
8
44,920
15,000
0
0
15,000
15,000
12
67,380
15,000
0
0
15,000
15,000
16
89,840
44,840
5,000
26,000
49,840
70,840
Illustration 3

Age at entry (Life Assured): 35 years
Policy Term: 20 years
Mode of premium payment: Yearly
Sum Assured: Rs.1,00,000/-
Annual Premium : Rs.4,160 /-
Death Benefits :

Year
Total premium paid
Benefit payable on death during the year
Guaranteed
Variable
Total
 
 
 
Scenario 1
 
Scenario 2
Scenario 1
Scenario 2
1
4,160
100,000
0
0
100,000
100,000
2
8,320
100,000
0
0
100,000
100,000
3
12,840
100,000
0
0
100,000
100,000
4
16,640
100,000
0
0
100,000
100,000
5
20,800
100,000
0
0
100,000
100,000
6
24,960
100,000
0
0
100,000
100,000
7
29,120
100,000
0
0
100,000
100,000
8
33,280
100,000
0
0
100,000
100,000
9
37,440
100,000
0
0
100,000
100,000
10
41,600
100,000
0
0
100,000
100,000
11
45,760
100,000
0
0
100,000
100,000
12
49,920
100,000
0
0
100,000
100,000
13
54,080
100,000
0
0
100,000
100,000
14
58,240
100,000
0
0
100,000
100,000
15
62,400
100,000
0
0
100,000
100,000
16
66,560
100,000
0
0
100,000
100,000
17
70,720
100,000
0
0
100,000
100,000
18
74,880
100,000
0
0
100,000
100,000
19
79,040
100,000
0
0
100,000
100,000
20
83,200
100,000
0
0
100,000
100,000
21
0
50,000
0
0
50,000
50,000
22
0
50,000
0
0
50,000
50,000
23
0
50,000
0
0
50,000
50,000
24
0
50,000
0
0
50,000
50,000
25
0
50,000
0
0
50,000
50,000
26
0
50,000
0
0
50,000
50,000
27
0
50,000
0
0
50,000
50,000
28
0
50,000
0
0
50,000
50,000
29
0
50,000
0
0
50,000
50,000
30
0
50,000
0
0
50,000
50,000

Survival Benefits :

End of Year
Total premium paid
Benefit payable on survival at the end of specified year
Guaranteed
Variable
Total
 
 
 
Scenario 1
Scenario 2
Scenario 1
Scenario 2
4
16,640
10,000
0
0
10,000
10,000
8
33,280
10,000
0
0
10,000
10,000
12
49,920
10,000
0
0
10,000
10,000
16
66,560
10,000
0
0
10,000
10,000
20
83,200
43,200
7,000
37,000
50,200
80,200

Notes :
i) This illustration is applicable to a non-smoker male/female standard (from medical, life    style and occupation point of view) life.
ii) The non-guaranteed benefits (1) and (2) in above illustration are calculated so that they are consistent with the Projected Investment Rate of Return assumption of 6% p.a.(Scenario 1) and 10% p.a. (Scenario 2) respectively.  In other words, in preparing this benefit illustration, it is assumed that the Projected Investment Rate of Return that LICI will be able to earn throughout the term of the policy will be 6% p.a. or 10% p.a., as the case may be.  The Projected Investment Rate of Return is not guaranteed.
iii) The main objective of the illustration is that the client is able to appreciate the features of the product and the flow of benefits in different circumstances with some level of quantification.
iv) The Maturity Benefit is the amount shown at the end of the policy term

EXTRACT from Section 41 of the Insurance Act

(1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of  the commission payable or any rebate of the premium shown on the policy nor shall any person taking out or renewing or continuing a policy accept any rebate  except such rebates as may be allowed in accordance with the published prospectuses or tables of the insurer : provided that acceptance by an insurance agent of commission in connection with a policy of life insurance taking out by himself on his own life shall not be deemed to be acceptance the insurance agent satisfies the prescribed conditions establishing that he is a bona fide insurance agent employed by the insurer.
(2) Any person making default in complying with the provisions of this Section shall be punishable with a fine which may extend to Rs.500 / -
Note : “Conditions apply” for which please refer to the Policy document or contact our nearest Branch Office