LIC Bachat Plus Plan

Summary of LIC Bachat Plus Plan – Table No. 861

LIC Jeevan Umang is a non-linked, participating, endowment investment insurance plan. It offers live cover and adds to your investment along with providing tax benefits. This plan can be purchased online. We will understand the working of this plan in detail in the section below.

Plan NameLIC Bachat Plus
Policy TypeEndowment
Plan DetailsPlan No. 861
Launch Date16th March, 2021
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Additions on Premium
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Tax Benefits
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Loan Benefits

Compare this plan with other Investment Plans

LIC Bachat Plus Plan - Key Features

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  • This is an insurance cum investment plan
  • Loyalty Additions will be added after completion of 5 years
  • Plan can be purchased ...

Tax Benefits
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  • Tax Benefits on Premiums, Death Benefit & Maturity Benefits

Loan Benefit
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  • You can avail a loan against this policy

LIC Bachat Plus Plan - Benefits

Some Terminology used in this plan

Basic Sum Assured - Guaranteed amount that is payable on maturity of the plan. The customer has to select this amount when taking ...

Death Benefit

  • If the policyholder dies during the first 5 policy years
    • Before the risk commencement date - All t...

Maturity Benefit

On reaching the date of maturity, you would receive Sum Assured + Loyalty Additions accumulated till date.


Loan Facility

You will be eligible to get a loan against this policy once it acquires a Surrender Value. 

  • SIngle Premium plans - Lo...

Other Optional Benefits

The following riders can be taken by paying an additional premium:

  • Accidental Death and Disability Benefit Rider - In...

LIC Bachat Plus Plan - Surrender Value

Revival of the Policy

If premiums are not paid on time, even after the grace period, the policy will lapse. A lapsed policy can be revived within a period of 5 consecuti...

Paid-up Value

If less than 2 years’ premiums have been paid and policy has not been revived, all the benefits under the policy shall cease after the expiry of gr...

Surrendering the Policy

The policy can be surrendered at any time provided premiums have been paid for at least 2 consecutive years. On surrender of the policy, LIC shall ...

Free look Period

If the Policyholder is not satisfied with the “Terms and Conditions” of the policy, the policy may be returned to LIC within 15 days from the date ...