Features of Bima Nivesh Insurance plan:
Bima Nivesh 2005 is an investment
plan with compound rate of guaranteed additions and
loyalty additions. It is a single premium, investment
plan for those who have no regular income but good periodical
When term assurance rider is not opted for:
- Proposals under Bima Nivesh- 2005 plan will be considered
independently without clubbing the sum under consideration
(SUC) with previously accepted proposals.
- No special report will be called for irrespective
of the sum under consideration (SUC).
- Proposal under Bima Nivesh- 2005 will be considered
on the Basic of satisfactory declaration of good health
- Age proof standard or non-standard age proofs are
When term assurance rider is opted for: the usual underwriting
rules for clubbing, calling general and special reports
etc. will apply for the term assurance rider S.A. the
term assurance rider S.A will be the sum under consideration
Latest Lic Policy by Lic of India:
- Jeevan Ankur Child Education Plan
- Jeevan Saral by Life Insurance Corporation of India
- Jeevan Vridhi by Life Insurance Corporation of India
- Jeevan Vaibhav by Lic of India
Age at entry: Min. 13 yrs. Completed Max 70 yrs.
Maturity age: Min. 75 yrs
Term: 5 & 10 yrs
Sum assured: Min 25,000 Max. No. Limit
S.A in multiples: 5,000
Mode of payment: Single premium
Policy loan: yes
Housing loan: yes
Surrender of policy: yes
Term ride: yes
Form no: 300/340
Age proof: std/Non Std
Medical exam: not required for
(When term assurance
Rider is not opted for)
Risk coverage: SA + GA
Dating back @ 8%: Allowed
Survival benefit: the basic S.A along with compounded
G.A will be payable. Note: loyalty addition, if any, will
also be added to this benefit.
Death benefit: in case of the unfortunate death
of the life assured during the term of the policy, S.A
along with the accrued G.A will be payable.
Example: 35 years old Mr. Lalu prasad, opts
for bima nivesh 2005, S.A 1 Lac for a 10 year term.
He pays Rs.97,124/- as single premium. On maturity,
he will get Rs.1,70,814/- + loyalty addition, if any.
If he dies before maturity, then his nominee will get
Rs.1 Lac S.A along with accrued guaranteed addition.
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