Bima Bachat

lic of india


Bima Bachat 816 – Explaination in simple words

The policy has a premium holiday for 4-5 years. The premium has to be paid for a shorter term but the policy remains active for longer duration.

The policy term and the premium paying term are 16/10, 21/15 and 25/16 . Wherein the first value is the policy term and the second is the premium paying term.



  • Premium Payment for shorter period. Risk cover for longer period
  • Tax rebate on premium paid u/s 80C and Tax free maturity u/s 10 (10D)
  • Limited Premium Endowment Plan, Plan No. 836


  • Bima Bachat (Table 816) is a limited premium non-linked with profits endowment plan
  • A combination of protection and savings
  • Provides financial support for the family in case of unfortunate death anytime before maturity
  • Tax rebate / Exemption in income tax



Death benefit: On death of the life assured before the stipulated date of maturity provided the policy is in force. Sum assured on death + Simple Reversionary Bonus + Financial Additional Bonus, if any (Sum Assured on death = Higher of 10 times of annualized premium of basic sum assured)

Maturity Bonus: Sum assured + Vested Bonus + Final additional bonus if any at the end of the policy term


  1. LIC’s accidental death and disability benefit rider
  2. LIC’s new Term Assurance Rider

PS: all LIC life insurance policy now come with special benefits like loan, surrender, assignment and revival


Question: whats is the most important feature of the policy?

Answer: The policy has an in built premium Holiday of 4 years for all the terms. This means the policy will remain in force for an additional 6-9 years even after your premiums have stopped.

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Question: What is the minimum and maximum term of the policy?

Answer: The policy can be taken for 16 years, 21 years and 25 years terms.

Question: Should I buy Bima Bachat?

Answer: If you are looking for a policy for a long term and don’t want to keep paying the premium for a long term then this is the ideal policy for you. is a leading LIC of India advisory firm based in Gurgaon. Our team of life insurance experts have an combined experience of over 40 years in life insurance services. Do get in touch with our insurance advisers to understand how Bima Bachat can help you achieve your financial goals in a systematic manner.

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