Bachat Plus plan is a Non-linked, participating, Individual Life Assurance Savings Plan. Under this plan, the premium can be paid either as Lumpsum (Single Premium) or as Limited Premium with premium paying term od 5 years.

 

Premium Paying Term(PPT) :

• Option A and Option B : Single premium

• Option 1 and Option 2 : 5 Years

 

Policy Term :

• Single Premium Option-A : 10 to 25 years upto Age 40

• Single Premium Option-B : 10 to 16 years from Age 41 to Age 44

• Limited Premium Option-1 : 10 to 25 years

• Limited Premium Option-2 : 10 to 25 years

 

Minimum Entry Age :

• Single Premium : 90 days (completed) for Option A and B

• Limited Premium : 90 days (completed) under option 1

• Limited Premium : 40 Years (Nearer Birthday) under Option 2

 

Maximum Entry Age :

• Single Premium (Option-A) : 44 Years (Nearer Birthday)

• Single Premium (Option-B) : 70 Years (Nearer Birthday)

• Limited Premium (Option-1) : 60 Years (Nearer Birthday)

• Limited Premium (Option-2) : 65 Years (Nearer Birthday)

 

Minimum Maturity Age :

• 18 years (completed)

 

Maximum Maturity Age :

• Single Premium (Option-A) : 65 years (nearer birthday)

• Single Premium (Option-B) : 80 years (nearer birthday)

• Limited Premium (Option-1) : 75 years (nearer birthday)

• Limited Premium (Option-2) : 80 years (nearer birthday)

 

Minimum Sum Assured :

• Rs 1 lakh (Multiple of 25,000 thereafter)

 

Maximum Sum Assured :

• No Limit

 

Policy Benefits :

• On Death : Death during 5 yrs (Before the date of commencement of risk): Refund of premium(s) paid without interest shall be payable. The Premium(s) referred above shall not include any taxes, extra amount paid due to underwriting decision and rider premium(s) if any.

 

• Death during 5 yrs (after the date of commencement of risk): Sum Assured on Death shall be payable.

 

• Death after 5 yrs : SA on Death + LA

 

• SA on Death for Single Premium (option-A): BSA or 10 times Tabular Single Premium for the chosen Basic Sum Assured

 

• SA on Death for Single Premium (option-B): BSA or 1.25 times Tabular Single Premium for the chosen Basic Sum Assured

 

• SA on Death for Limited Premium (option-1) : BSA or 10 times Annualised Premium for the chosen Basic Sum Assured

 

• SA on Death for Limited Premium (option-2): BSA or 7 times Annualised Premium for the chosen Basic Sum Assured

 

Survival Benefits :

• SA on Maturity + Loyalty Addition

• SA on Maturity = Basic Sum Assured

 

New Term Assurance Rider available.

New Accidental Death and Disability Benefit Rider available.

 

Surrendered Value :

Under Single Premium : The Policy can be surrendered at any time during the policy term.

 

Loan :

Under Single Premium : Loan shall be available at any time during the policy term after three month from completion of the policy.

 

Under Single Premium : Loan shall be available at any time during the policy term after three month from completion of the policy.

 

Revised Proposal Form No. 300, 340 and 360 shall be used under this plan.

For more information Contact Us.