NEW BIMA GOLD

FEATURES
It is a plan where premiums paid over the term of plan are paid back during the policy term in instalments and life insurance cover is available not only during the term but also during the extended term of the plan.

BENEFITS

Survival Benefit
Payable in case of life assured surviving to the end of the specified durations provided the policy is in full force as given below:

For policy term 12 years
15% of the Sum Assured under Basic Plan at the end of each 4th & 8th policy year

For policy term 16 years
15% of the Sum Assured under Basic Plan at the end of each 4th, 8th &12th policy year

For policy term 20 years
10% of the Sum Assured under Basic Plan at the end of each 4th, 8th, 12th & 16th policy year

On expiry of policy term
Total amount of premiums (excluding extra/optional rider premiums, if any) paid plus Loyalty Additions, if any, less the amount of survival benefits paid earlier.

Death Benefit
During the policy term: Payment of an amount equal to Sum Assured under the Basic Plan on death of the Life Assured during the policy term provided the life cover is in force.

During the extended term:
Payment of an amount equal to 50% of Sum Assured under the Basic Plan on death of the Life Assured during the extended term provided all the premiums under the policy have been paid.

Extended Term:
The extended term shall be half of the policy term after the expiry of the policy term

Other Benefits:
The plan offers other benefits as follows :

Loan:
Loan facility is available under this plan after the policy acquires paid up value. The rate of interest to be charged for loan amount would be determined from time to time by the Corporation. Presently the rate of interest is 9% p.a. payable half-yearly.

Grace Period:
A grace period of one month but not less than 30 days will be allowed for payment of yearly, half-yearly or quarterly premiums and 15 days for monthly premiums.

Revival:
Subject to production of satisfactory evidence of continued insurability, a lapsed policy can be revived by paying arrears of premium together with interest within a period of five years from the due date of first unpaid premium. The rate of interest applicable will be as decided by the Corporation from time to time.

Cooling-off period:
If you are not satisfied with the "Terms and Conditions" of the policy you may return the policy to us within 15 days.