LIC unveils New Bima Gold plan

New Delhi, Sep 4 (UNI) Life Insurance Corporation (LIC) today launched 'New Bima Gold' plan, a low cost policy to cater to the need of risk coverage with liquidity in the shape of assured money back (survival benefit), every four years.

The plan is open for the age group between 14 years to 57 years with a fixed term of 12, 16 and 20 years.

Survival benefit is payable at the rate of 15 per cent of the sum assured on completion of every 4 years for the term of 12 and 16 years and at the rate of 10 per cent for the term of 20 years.

Apart from the accidental rider, Auto Cover has been introduced so that risk cover will remain for the next two years from the date of first unpaid premium, even in the case of lapsed policies subject to payment of premium for at least two full years.

A new feature in this plan is of 50 per cent Life Cover during Extended Term, which is half of the policy term, that shall commence immediately on the expiry of the policy term subject to maximum 75 years.

Income Tax rebate under section 80 C is allowed up to 1 lakh on the actual premium paid during the financial year.

UNI SBA RA KP2020