# LIC’s New Bima Gold – 179 | Details with Premium and Benefit Calculators

*LIC’s New Bima Gold – Plan 179 – All details with premium and benefits calculator. ***New Bima Gold** is one of the most popular insurance plan ever sold by Life Insurance Corporation of India (LIC). It is a money back plan where a portion of ‘Sum Assured’ is paid back at specific intervals as ‘Survival Benefits’. Maturity benefit includes the **total premium paid **(Excluding riders),** plus** **Loyalty Additions** (if any), **less** **Survival benefits**(paid earlier).

Let us have a detailed look at LIC’s New Bima Gold (Plan – 179).

##### Key Features of LIC’s New Bima Gold Plan.

- It is a money back plan where Survival Benefits are payable on every fourth year.
- Premium paying terms available are 12, 16 and 20 Years.
- Maturity Benefit available at the end of the premium paying term.
- Extended insurance coverage equal to 50 % of Sum Assured shall be available even after maturity, for a period equal to half of the term of the plan.
- Auto Cover for two more years available, if two full-year premia have been paid.
- Loan facility shall be available after three full-year premia have been paid.

LIC’s New Bima Gold (Plan 179) – Benefit pattern | |||
---|---|---|---|

Premium Paying Term | 12 Years | 16 Years | 20 Years |

4th Year | 15 % of Sum Assured | 15 % of Sum Assured | 10 % of Sum Assured |

8th Year | 15 % of Sum Assured | 15 % of Sum Assured | 10 % of Sum Assured |

12th Year | Total Premium Paid (excluding riders) + Loyalty Additions – Survival Benefits already paid | 15 % of Sum Assured | 10 % of Sum Assured |

16th Year | Total Premium Paid (excluding riders) + Loyalty additions – Survival Benefits already paid | 10 % of Sum Assured | |

20th Year | Total Premium Paid (excluding riders) + Loyalty additions – Survival Benefits already paid. |

##### Loyalty Additions – New Bima Gold (Plan 179)

New Bima Gold is a with-profits plan and shall participate in the profits of the Corporation. But, unlike the plans which have the simple reversionary bonus, which is added every year to the policy account, loyalty addition is added as a one-time payment at the time of maturity. On life assured surviving the premium paying term of the policy, loyalty addition at the stipulated rate available at that time is paid to the policyholder along with maturity benefit. Details on how much loyalty addition shall become payable for a particular term shall be available only once LIC of India declares the loyalty addition rates. So far LIC has declared the Loyalty Addition rates for the **12-year term** only and the declared **loyalty addition rate for the 12-year term, New Bima Gold is Rs. 100 per 1000 Sum Assured.**

New Bima Gold – Eligibility conditions and restrictions | |||
---|---|---|---|

Minimum | Maximum | ||

Age at entry | 18 Years Completed | 12-year term | 57 Years (nearest birthday) |

16-year term | 51 Years (nearest birthday) | ||

20-year term | 45 Years (nearest birthday) | ||

Sum Assured | Rs. 50,000 | No Limit | |

Rebates Available | |||

High Sum Assured Rebate | Mode Rebate | ||

Les than 1,00,000 | Nil | Yearly Mode | 2 % of tabular premium |

1,00,000 -1,95,000 | Rs. 5 per 1000 SA | Half Yearly | 1 % of tabular premium |

2,00,000 and more | Rs. 7.5 per 1000 SA | Ordinary Monthly | 5 % extra on tabular premium |

##### New Bima Gold (179) Premium and Benefits Calculator

You can use the Online Premium and Benefit calculator for New Bima Gold (Plan 179) to get a clear idea of the benefit pattern of the plan. This calculator can provide you with all the details on what you are paying, survival benefits available, the pattern of insurance coverage, maturity benefits etc. You can supply your own details such as Age, Sum Assured, Term etc and get complete details of the plan in a table format.

##### New Bima Gold (179) – Example of Benefits

In order to understand the benefits of New Bima Gold Plan, let us consider an example. Let us assume that a **35-year-old person** is taking a **10,00,000** policy with **term 12 years**. The benefits as per the current bonus rates shall be as given below.

The benefit pattern for the example considered here shall be as given below.

Please note that the above illustration is as per the details of the example considered above. If you want to calculate details based on your own details, please use the Calculator provided above.

Read More:

Anish L J is a ‘Financial Planner’ and member of Chartered Insurance Institute(CII), London and Insurance Institute of India. He is also a finance, insurance and software consultant. He thoroughly follows the developments in finance, insurance, and other related sectors.

What is the use of discussing a removed plan

Hi Prasad,

I am getting large number of queries from existing policyholders regarding the plans taken by them. You cannot find authenticate information in the net about withdrawn plans. The intention is to help policyholders who have already taken the plan.

I have a New Bima Gold policy for 20 years. Is the amount paid by LIC once in 4 years (10% of Sum Assured) taxable ?

Survival benefit (10% of SA) is

nottaxable.sir,

My new Bima gold lic policy is rs 4 lakhs for 2 years & my annual premium is rs 13428. ( 6714 x 2)

how much amount give me by LIC on maturity.

Regards

Anil

Please use this calculator to get the maturity values and survival benefits.

What is the mean of LA* in maturity

LA* means loyalty addition and it is declared at the time of maturity. So far, loyalty additions up to only 17-year term have been declared by LIC. For terms beyond 17 years, as we do not know the value exactly, it is given as LA*.

Hii

I have taken new bima gold 179 for 16 year term plan and I am doing job in defence, so the policy status showing is – in force assured amount is 200000, but my premium is 14086, which is higher than the intallment showing online your website? Please answey question.

Please give your age and term of the plan also.

I had bought lic bima gold policy in 2012 for a policy term of 20 years and my annual premium is 36096 and sum assured is 1000000. I am getting survival benefit of 1 lakh after every four years. what is the amount that i will get on maturity. There is no vested bonus displayed online.. When I researched I found there is loyalty addition paid at time of maturity. Can you explain me what is loyalty addition and its amount

Loyalty addition of Bima Gold plan with 20-year term has not been declared so far. So exact amount cannot be predicted. You will have to wait till 20 years from the date of inception to know that.

Hi Anish I just want to know that I have taken Lic new bima gold plan 179 …12years term in 2007 now I am going to get my maturity on Feb 22,2019..I just want to know by investing in this my return are better than Fixed deposit..and I want to know overall in twelve years how much % I have earned..

You cannot get higher returns than FD in an insurance product. Use this calculator. If you want to calculate the rate of interest you should use IRR function in excel.

sir my plan name is new bima gold 179 sum assured 50000 how much total money i get after maturity??

Maturity amount changes with the term of the policy. Please use this calculator.

MY TERM 16 YEARS , SA 100000/-, DOC 4.2.2007, THEN WHAT IS MY SB AMOUNT & AFTER HOW MANY YEARS I WILL GET

For 16 Year term of New Bima Gold 15% of Sum Assured is paid as Survival Benefit in the 4th 8th and 12th Year. Please use this Calculator for more details.

What is loyalty addition and how is it calculated?

Loyalty additions are a type of profit sharing method. Normally in ‘with profit’ plans, profit is shared through declared bonuses, which get added to the policy-account every year. Instead of declaring yearly bonuses some policies bear a one-time bonus declaration method (provided at the time of exit from the policy by way of maturity or death). This declared bonus (one time) is known as Loyalty addition.

I have taken New Bima Gold Plan on 2011 with sum assured of 1,35000. Please advice how much LA i will get during the maturity. Thanks

Use this calculator to get an idea of the maturity pattern of Bima gold plan. Please note that as the loyalty additions of New Bima Gold plan has not been declared yet and hence it is not possible to give the loyalty addition value accurately.

I have new bima gold policy and it has matured

It is 12 years 28576 per yer 500000 sum assured

I am receiving 43000 more after 12 years on top of what i invested

43000 after 12 years really

Can you make your question more clear.

I have policy of sum assured of 50000. on completing 16th year i only received 3940 rs as Survival benefit, but it should be 5000 (10% of basic). Is there any specific reason.

They may have deducted the last premium from the survival benefit. If you have already paid the premium, please check it with the nearest LIC branch office. If that premium was deducted by mistake, they will refund it.

I have an lic new bima gold policy 179. Term 29 years and started in 2013. Sum insured is 3lakhs. Can I get a loan against this policy and how?

Shweta Sharma, You can take a loan from your Bima Gold Policy now as more than 3 years are over from the date of commencement of the policy.

I have an LIC new bima gold policy 179 with 16 years term and sum assured is 700000.

As per calculator it is showing as below:

Age Year Premium Benefit Pattern Returns/Maturity Normal Coverage Accident Coverage

39 2027 550096 Premium* – 45% Sum Assured + LA 223888+ LA* 700000 1400000

At the time of maturity will i get Returns/Maturity plus Normal Coverage?

Normal Coverage shall be available at the time of the death of the policyholder (during the term of the policy). Maturity amount available shall be the sum of (Premium – 45% of Sum Assured + Loyalty additions).

what is meant by normal coverage and accidental coverage? in case of any such incident where do we need to deposit the policy papers?

Normal coverage is the death coverage available on the policy when a normal death (not due to an accident) occurs to the policyholder. Normal death can happen due to old age or diseases.

Accidental coverage can be of two types-(1) accidental death (2) permanent disability due to an accident.

Read more on death claim settlement here.

Suggest a best plan for child education???age five years…returns should be at 17th year…

Check the Children’s money back plan. Read more details about Children’s money back plan.

Hi sir

My plan New bima gold (table no 179)

Sum assured 100000

Extended 50000

Accident Ben..100000

My doubt is .. how much I get maturity amount??

Bima Gold is a Loyalty addition plan and the loyalty additions have not been declared for most of the terms so far. So we cannot say the loyalty addition portion of Bima Gold policy now. Use Bima gold calculator for more details

My Policy is lapsed long timeback and I would like to make it force. We have moved from that state several years back and Can i activate the policy in my local branch ? How much late fees does LIC charge for each year , any % of sum assured??

Hi Venkata,

You can revive your policy at your current local branch provided, your proposal image is available in EDMS(Enterprise Document Management System) of LIC. 99% of the policies have EDMS images and you can check it at your local branch. You can use this calculator to get the revival amount of your policy.

Thankyou Anish. What is the late fees % , any idea?

I bought this plan in 2012 for 20 yr term with sum insured 2 lakh

I got the SA benefit in 2016 , even though it started in 2012 so i paid 4 premiums (2012,13,14,15) so it should have given the SA benefit in 2015 or there is something i am missing.

Similarly now in 2019 8th year term is also completed but there is no information about this

Can you help me?

Hi deepesh,

In New bima gold policy, survival benefit is paid after the completion of every four years. Since you have taken the yearly mode you are paying advance premiums. So by the time you receive the survival benefit, you will have to pay 5 premiums. Consider another person taking the same policy in monthly mode. He will get the SB after paying 48 monthly installments. Which is just four years.

Hi, I have a LIC’s New Bima Gold Plan with sum assured 5,00.000 for 20 Year Plan. In the 4 year time interval, I was getting Rs.50,000 twice. At the end of 12th Year , I got only Rs.31782. What may the reason?

Please check the last premium just before the money back was paid by you. If it was not paid, they might have adjusted the premium from the money back amount. If you have paid the premium, then you might have paid it after the adjustment was done. In that case you please contact the parent branch and they will give a refund of the excess amount deducted.

Hi Anish,

Please help me with the below.

I have new bhima 179 plan for 16 years with 10,00,000 as sum assured.

On maturity, will I get the above amount plus bonus or will the premium be subtracted from the above amount and then given to me?

Will I get 10,00,000 + bonus or

will I get 2,00,000 + bonus

Thanks

Ganesh

Hi Ganesh Bhandarkar,

In your Bima Gold Plan you are getting 15 % of sum assured ie 1,50,000 every 4th year. So 4.5 lakh as the surevival benefit (on 4th 8th and 12th year 1.5 lakh each).

on 16th year -> Total premium paid – 4.5 Lakh(already received) + Loyalty Addition.

Use this calculator for more details.

Hi Anish,

I had taken the Jeevan Bima Gold policy for a tenure of 20 yrs and have already paid the premium for 8 yrs where I have received the 10% of sum assured twice (4th and 8th year). I do not wish to continue with this policy and would like to know if it will go into a paid up state or if there will be any maturity benefits?

Hi Kiran,

If you stop premium payment now the policy will be automatically converted into a paid-up policy and all benefits of the policy including the maturity benefit will be reduced based on the paid-up sum assured available in the policy.

I bought this policy in 2009 for 20 yr term with sum insured 50000.

As per policy terms i should get survival benefit of 10% if sum assured for every four years, but i didn’t got the SA till now.

Can you help me?

You should have got two installments of Rs.5000 by this time. If you have not received it please contact the branch office.

Sir,

I bought new bhim gold 179 in 2007 sum assured rupee 200000.

Paying term halylf yearly rupee 5854 (including 100 rupee as accident benefit rider)

12 year table and term and 12 year paying term

Received survival benefit total rupee of 60000

Please tell me how much money will I get during maturity which is due in October 2019. Is there any loyalty how much.

Thanks

Hi, As the policy is about to mature in October you can get the accurate maturity amount from the branch itself. Just call the LIC branch office.

If you cannot get it.. use the calculator provided in the post itself to get the maturity amount..

If you still have any doubt please let me know..

Thanks for your reply.

I got LIC notification saying the maturity amount is 98095. I am confused whether this includes loyalty? or how its calculated.

After six years do I get 200000?

Regards,

The amount shown is correct. The maturity amount of Bima Gold is calculated in a special way. The maturity amount will be the ‘Total Premium Paid – Survival benefit already paid + Loyalty addition”. Check the calculation in this calculator.

Dear Sir

my policy is new bima gold plane no.179 commenced date is 28/06/2012 (16years 200000) instalment premium 2482 in 3 month

so i want to know that be how much gate bonus every 4 years and maturity.

The money-back amount is 15% of the sum assured for 16-year term. So you will be getting 30,000 in every 4 years. Use this calculator to know more details. The likely maturity amount is 62086 + loyalty additions. as loyalty additions for 16 year term are not declared we are unable to give the exact loyalty additions.

sir aapki Policy complite ho gyi plz complete maturity plz share Mere bhi hone wali h 2020 m

what is the term of the policy and the sum assured of the policy. Please share your age also.

Hi,

I bought this bima gold policy on 27th September 2011. Hoping I Completed 8 years by this month. So when exactly I can expect survival benefit (Bonus amount ).Because I want to know whether I get that amount by this September itself or will still take some time?Please comment..Thanks.

If bank account is added in your policy, the survival benefit will be paid to your account on 27th of September it self..

Thank you Anish for your swift response.

Can you please confirm or provide the steps like how to check my neft/bank details in my online lic portal as I tried all my ways to obtain in that portal, but still no luck. So it would be great if you help me in this regard.

Thanks in advance..

So far there is no provision to check NEFT details in online portal. You can contact branch office either directly or over phone and check it.

If that’s not possible send policy details to admin@insurancefunda.in . I shall inform you the status..

Hello SIr,

maine bima gold policy 2010 main le thi , tab se ab tak policy continue policy ki ek -do premium hi deposot hye hai kua ab polocy continue ki ja sakti hai plz help …………..

If the policy is in lapsed condition for more than 5 years you cannot revive it again..

Sir my jeevan bima hold policy is going to mature on March 2020 how can register my NEFT Details with LIC.

You should provide the bank account copy along with your mobile number and email ID to the LIC branch office to help the claim settlement process at the earliest.

Sir,

Mere bhai ne 50000 ki policy liya tha jiska premium Rs.1619/- half year ke lye tha policy ko 8 year ho gye the or uski death ho gayi to pls batayege ki policy ki benifit kitni hogi ya kitna milega

The nominee of your brother will be eligible for an insurance coverage equal to the sum assured of the policy. That means the nominee will get 50000 as death claim. आपके भाई का नाम पॉलिसी की बीमा राशि के बराबर बीमा कवरेज के लिए पात्र होगा। मतलब कि नॉमिनी को मृत्यु का दावा 50000 मिलेगा।

Sir I have lic new bima gold policy for 20 years term for the sum assured of 1 lakh.Now after 12 years of completion of policy.i want to break it.How kuch will i get.??

Please contact the nearest branch office for the surrender value of the policy.

Sir I have lic new bima gold policy for 16 years term for the sum assured of 3 lac.Years on 27/10/2008 .Sir Iwant a details my policy no.332269100

What details you need to know..

I have 20 year plan. How to check if I have received 10% of sum assured after 4th year? How to know which of my bank accounts is in the LIC records?

You can check it with your nearest LIC branch office. You can find the bank account registered in your policy and whether it was credited in that account from the branch office.

Thank you. This is indeed helpful.

Hi I think the first year should not be calculated as far I know

Can you make it clear..

Will this policy cover hospital charges ?

No, this policy does not cover hospital charges. The only benefit available in connection with medical treatment is permanent disability benefit which is applicable only if a permanent disability arises due to accident.

Sir, I have a New Bima Gold policy No.766958330 taken on 07.05.2012 with 12 year term for Rs.50000. Quarterly premium is Rs.1186. As I understood from the above Q&A, it is a money back policy at the interval of every 4 years. But I have not received any survival benefits during 2016 ie., at the end of first 4 years. No communication from LIC in this regard. Please check and confirm whether the above policy with No. is eligible for Survival benefit.

If your policy is a New BimaGold policy you will definitely get a money-back on every fourth year. I have not checked your policy but I shall check it and inform you soon.

Dear sir ,1.03.1983 mera policy new Bima gold 16 years plan tha 50000 ka sum assured 2024 me matchurity he 2008 me 13.3.2008 2024 me Kitna milega … approxim

Please use the calculator provided here to get the maturity pattern of the plan. As loyalty addition rate for the 16-year term has not been declared so far. So I cannot give you the exact benefits of the plan.

Hai sir, i have bima gold 179 12 years scheme. I completed 8 years. Can i apply for survival benefits through online. Kindly reply me

There is no need to apply for survival benefits. It will automatically be credited to your account if your savings bank account is registered in your policy. If it is not registered you will have to wait till lockdown is over and submit your bank details to the branch. It is not possible to give bank details online.

sir, is loyalty addition rate of 100 per thousand sum assured for full term or only one year. I mean if sum assured is 50000, will I get 5000 rupees as loyalty addition or 60000 as loyalty addition on maturity .

Loyalty addition is a one time payment and it is applicable only for the maturity year. Loyalty addition of 100 per 1000 means one time payment of 10% of sum assured.

Hello,

Thanks for the detailed explanations.

Pls help to understand if “Accident coverage” is a default option in this policy (20 years – New Bima Gold 179) or it should have been chosen at the time of policy taken.

How will I know if my policy is registered for the “Accident Coverage” or not.

Regards,

PANDIARAJAN. S

Accident benefit is an additional rider and hence it has to be added at the time of purchase of the policy… But normally it will be added in 99.99% cases because it is the normal practice followed. Accident benefit rider will be mentioned in the first page of the policy bond. You can check the premium amount with the calculator provided in the site to make sure it is added…

Hi Anish ji,

I have the Bima Gold Plant 179 for 20 years. I am interested to know the LA which may be expected at the expiry of the Policy Term. There’s no information available on that. Can I expect 20% of SA as the LA?

Thanks & regards,

Abhinav Gupta

Loyalty additions for 20-year term bima gold are yet to be declared by LIC. 20 years are not over since the inception of the plan.

Don’t except so much. You may get 0.20percent.Its insurance plan not the investment plan. It’s nonsense if you see it as investment.

Please give more details on what you are referring.

Hi, Why are we getting lesser amount totally when compared to Sum assured. My policy is with 500000 SA, Premium 29024/Year , 12 Years Terms, started 2008 , Hence 12th Year Survival Benefit is 29024*12 = 348288 + 50000 as LA – 75000 Paid on 4th Year – 75000 Paid on 8th Year, Finally 248288 at end of 12th Year… Please correct me if I am wrong.

The benefit pattern of New Bima Gold is different from that of other plans. Normally in other plans Sum assured + Bonus is paid at the time of maturity. But in New Bima Gold, total premium paid less the survival benefits already paid + loyalty addition is paid at the time of maturity. For younger people the premium can be considerably lower than sum assured. And the maturity amount can also be lower than sum assured.

How can i surrender my New Bima Gold Plan?

Surrender can be done by approaching your parent LIC branch office.

After complete my new bima gold police. I surrender my police. How many returns.

To get the surrender value of the policy please contact the nearest LIC branch office.

I have a New bhima gold policy which mentioned above . Premium payment is Rs 12295 half yearly and sum assured is Rs 7lakhs and Money back of Rs 70000 for every four years. Total policy term is 20 years. I have taken the policy in 2012 and still continuing. How much amount will I get at the end of the policy. I am confused with the above calculations.

Exact returns of New Bima Gold cannot be calculated now as the loyalty addition rates for 20 years policy are not declared so far by LIC. It will be declared only on completion of 20 years from inception of the policy.

I just want to know the approximate amount which I get, as I am getting 2.8L (70K every 4 years) return in 16 years. Leaving the loyalitiy bonus, will I get total 7L ie., Sum assured or will I get only 4.2 L and loyalty bonus.

The maturity benefit of the policy includes total premium paid minus survival benefit received + loyalty addition. As loyalty addition rates for 16 year term has not been declared, I cannot give an accurate estimation of the benefits.

Atleast approximate amount excluding loyalty bonus. I want to know as they r going to pay 2.8L in return to me through Money back.

I am sorry as I cannot do any guess work in this regard.

Kisika bimagod policy mature ho gaya to please loyalty Addison kitna Mila boldijiye

Hello sir , maturity kebad apko kitna Mila loyalty Addison please share with me

Loyalty addition rates declared for 12 year schemes only so far.

Hi Sir,

I have lost the policy policy document few years back.

But I keep paying my premiums without any gap so far.

Could you please advise like what should I do now to get the document back??

Any kind of risk, am I running with due to this?? Please do the needful by your timely and feasible solution reply.

My policy will get matured on 2029.

Thanks

You can take a duplicate policy document by applying in the specified format. You will have to submit a bond on a 500 Rs stamp paper (notarised) also. The branch office will guide you in this regard.

took new bima gold 179 in 2013 now i want to surrender the policy, plz tell me the amount i will get at the time of surrender

You can get the surrender value of your policy from the nearest branch office. As per the policy decision of InsuranceFunda, we do not provide surrender values here.

My New bheema gold policy 179 plan Rs1050.00 per month. SA Rs.2lakhs. After 8years I received message regarding servival beniffit.

How much percent will paid pl inform me

The survival benefit depends on the term of the policy. if it is 20 year policy 10 % of sum assured is paid as Survival benefit and for 15 years 15% is paid.

Dear sir, my elder brother buy new bima gold policy in 2007 and annual premium paid 3600 rs and my elder brother expired so what’s amount paid me from lic???

You will be eligible for the sum assured of the policy as a death claim amount. Please check the policy document the sum assured will be mentioned in it.

Can I cancel my policy after some years? Is yes, what is the process? Will I get refund of premium paid?

Surrendering of a policy is allowed after 3 years but it can bring in loss as surrender value will be lower than premium paid in the initial years.