LIC New Bima Bachat Maturity Calculator

LIC has been in the insurance industry for more than 100 years and now has become a household name. It has established a name in the market like no other insurance company. LIC New Bima Bachat Plan is a participating, non-linked, savings plus protection plan that comes with a lump-sum premium payment method at the beginning of the policy tenure.

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We are rated~
58.9 Million
Registered Consumer
Insurance Partners
26.4 Million
Policies Sold

A complete money-back plan, LIC New Bima Bachat Plan protects the family of the policyholder financially after his/her untimely demise. It also offers a loan facility and takes into consideration liquidity needs.

Here are the details about the plan, its benefits, features, maturity calculator, and more.

New Bima Bachat Key Features

Here are some of the features of the LIC New Bima Bachat plan:

  • It is a protection plus savings plan
  • It is a non-linked, single premium, guaranteed money-back plan
  • Single premium plus with loyalty additions are returned to the policyholder at the time of maturity
  • 15% of Basic Sum Assured is compensated at the end of the year depending upon the policy tenure
  • Sum assured on maturity plus loyalty additions if any, are payable at the maturity
  • The death benefit is payable in case the policyholder passes away during the policy tenure
  • Additional rider options are also available under the plan

New Bima Bachat Plan Benefits

  1. Death benefits

    The death benefit is to be paid under the following circumstances:

    Death before 5 years of the policy commencement:

    • Basic Sum Assured is offered as per the policy document

    Death after 5 years of the policy commencement:

    • Sum Assured + Loyalty Benefits, if any

    Where sum assured is

    • 1.25X the single premium or
    • Basic Sum Assured

    Whichever higher

  2. Survival Benefits

    In case of survival of the policyholder during the complete policy tenure, a pre-decided sum assured is given as per the policy documents. The percentage differs from one policy tenure to another. 

    • Policy tenure of 9 years
      15% of B.S.A (Basic Sum Assured) after completion of 3rd and 6th year of the tenure
    • Policy tenure for 12 years
      15% of B.S.A (Basic Sum Assured) after completion of 3rd, 6th, and 9th year of the tenure
    • Policy tenure for 15 years
      15% of B.S.A (Basic Sum Assured) after completion of 3rd, 6th, 9th, and 12th year of the tenure
  3. Maturity Benefits

    Maturity benefit is provided in case of survival of the policyholder after the completion of the tenure. Maturity benefit is defined as:

    Sum Assured at the Maturity + Loyalty Additions

    Here, the sum assured at the time of maturity and the single premium paid are equal, not including taxes.

  4. Loyalty Additions

    Loyalty addition is paid only if the policyholder completes five years of the policy term without failing to pay the premiums.

New Bima Bachat Maturity Calculator

The New Bima Bachat Calculator is beneficial for the calculation of the premium and maturity amount of the plan depending upon the policy term opted for by the policyholder.

For New Bima Bachat Maturity Calculator:

Maturity benefit is generally calculated by adding,

The sum assured on maturity + loyalty additions (if eligible).

Here sum assured on maturity is the single premium paid (excluding taxes) + rider premium + extra premiums (if bought along with the policy).

Premium Illustrative

Here is the sample illustration for the single premium plan for the Basic Sum Assured of Rs. 1,00,000 (excluding taxes).

Age (Nearer birthday)





















Rebated Offered

Rebates offered under the LIC New Bima Bachat plan are as follows:

Policy Term

Basic Sum Assured


9 years

Less than Rs. 75,000


Rs. 75,000 and Less than Rs. 150,000


Rs. 150,000 and above


12 years

Less than Rs. 100,000


Rs. 100,000 and Less than Rs. 200,000


Rs. 200,000 and above


15 years

Less than Rs. 150,000


Rs. 150,000 and Less than Rs. 300,000


Rs. 300,000 and above


Eligibility Conditions and Other Restrictions

Entry age (Minimum)

15 years

Entry age (Maximum)

 50 years (Closer birthday) for terms 9, 12, and 15 years

Maturity age (Maximum)

59 years (Closer birthday) for term 9 years

62 years (Closer birthday) for term 12 years

65 years (Closer birthday) for term 15 years

Policy Tenure

 9, 12, and 15 years

Sum Assured (Minimum)

35,000 for term 9 years

50,000 for term 12 years

70,000 for term 15 years

Sum Assured (Maximum)

 No limit

S.A.(Sum Assured) is in multiples of rupees 5,000

Premium payment mode

 Single-Premium only

Documents Required

To take the policy, you need proper documents supporting your application.  Following are the documents you require:

  • Medical history
  • Address proof
  • Know your customer documents
  • Medical examination (depending on your age or the sum assured)

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-
++Returns are 10 years returns of Nifty 100 Index benchmark

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