LIC Bachat Plus Plan 861

By | March 14, 2021

LIC Bachat Plus Plan 861, Benefits, Features, parameter, Example and Review

LIC of India new plan launched on 15th March 2021 which name is LIC Bachat Plus Plan 861 (LIC Table No. 861). It is closed ended plan and shall be available as well as offline and online for a maximum period of 180 days only.

LIC’s Bachat Plus plan 861” is a Non-Linked, Participating, Individual Life Assurance Savings plan. Under this plan, the premium can be paid either as Lump Sum (Single Premium) or as Limited Premium with a Premium Payment Term of 5 years. Under each of these premium payment options the proposer will have two options to chooseSum Assured on Death

LIC Bachat Plus 861
LIC Bachat Plus 861

The policy shall participate in the profits in the form of Loyalty Addition. This Plan can be purchased Offline through agents other intermediaries as well as Online directly through website

Also Read this : Invest 10K per month & Get Rs 1 Cr returns

Key Features

  • Premiums need to be paid for less number of years than Maturity year
  • Ideal Plan for planning Child’s Education and Marriage and financial protection.
  • Options to avail accidental and disability benefit rider and term rider.
  • Settlement option available for maturity and death benefits in instalments 5, 10, and 15 years. 

LIC Bachat Plus Plan 861 Parameter/ Eligibility

Minimum Age at EntrySingle Premium
90 days (Completed) in option A and B
Limited Premium
90 days (Completed) in option 1
40 years (Completed) in option 2
Maximum Age at EntrySingle Premium
44 years (Nearer Birthday) in option A
70 years (Nearer Birthday) in option B
Limited Premium
60 years (Nearer Birthday) in option 1
65 years (Nearer Birthday) in option 2
Basic Sum AssuredMinimum: 1,00,000
Maximum No Limit
(in multiple of 25,000)
Premium Paying ModeSingle, Yearly, Half Yearly, Quarterly, Monthly (NACH)
Policy TermSingle Premium
10 to 25 years upto Age 40 under Option A
10 to 16 years from Age 41 to Age 44 under Option A
Limited Premium
10 to 25 years both for Option 1 and Option 2
Premium Payment TermOption A & Option B: Single Premium
Option 1 & Option 2: 5 Years
Loan AvailableYes
LIC Bachat Plus Policy 861 Parameter

Also Read this : LIC’s Best Lifetime Money Back plan


Rebate means discount on premium. Two rebates in this policy one is Mode Rebate and another is Sum Assured Rebate.

Mode Rebate: Rebate given based on premium payment mode chosen.

Premium Payment ModePercentage(%)
Yearly Mode2%
Half yearly Mode1%
Quarterly and MonthlyNil

High Sum Assured Rebate: High Sum assured Rebate Based on Sum assured means Policy Value.

Basic Sum Assured (BSA)Rebate per Rs. 1000 /- S.A.
(Term 10 to 20 Years)
Rebate per Rs. 1000 /- S.A.
(Term 21 to 25 Years)
Upto Rs. 1,75,000NILNIL
Rs. 2,00,000 to Rs. 4,50,000 2535
Rs. 5,00,000 to Rs. 9,50,0004555
Rs. 10,00,000 and above5060

LIC Bachat Plus Plan 861 Benefits

Maturity Benefits

On the life assured surviving to the end of the policy term, provided all the due premiums have been paid, “Sum Assured on Maturity” along with Loyalty Addition, if any, shall be payable, where “Sum Assured on Maturity” is equal to Basic Sum Assured.

Death Benefits

The proposer will have an option to choose “Sum Assured on Death'” as per the two options available under each of Single Premium and Limited Premium payment.

The proposer has to choose one of the options at the proposal stage itself and mention the same in addendum to the proposal form subject to the eligibility conditions. The premiums and benefits shall vary as per the Option chosen and cannot be altered subsequently.

Sum Assured on Death
Single Premium Option A  10 times of “Tabular Premium for the chosen Basic Sum Assured” 
Option B  1.25 times of “Tabular Premium for the chosen Basic Sum Assured”
Limited premium Option 1

Higher of

  • 10 times of (“Tabular Premium for the chosen Basic Sum Assured” plus modal loading, if any); or
  • Guaranteed Sum Assured on Maturity i.e. Basic Sum Assured
Option 2 

Higher of

  • 7 times of (“Tabular Premium for the chosen Basic Sum Assured” plus modal loading,if any); or
  • Guaranteed Sum Assured on Maturity i.e. Basic Sum Assured

Death benefit payable in case of death of the Life Assured during the policy term provided the policy is in-force (i.e. all due premiums have been paid) shall be as under:

On death during first five policy years

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 premium and Rider premium(s), if any.

On or after the date of commencement of risk: “Sum Assured on Death” shall be payable.

On death after completion of five policy years but before the stipulated Date of Maturity: “Sum Assured on Death” along with Loyalty Addition, if any, shall be payable.

The death benefit under Limited Premium payment shall not be less than 105% of total premiums paid upto the date of death, excluding extra premium, Rider premium and taxes, if any.

Read also : LIC new Jeevan Anand plan 915 lifetime plan

LIC Bachat Plus policy 861 Surrender, Loan and Paid-up value.

LIC Bachat Plus policy 861 Surrender, Loan and Paid-up value details is given below.

Surrender period : Policy can be surrender after 3 month for single premium option and 2 full years payment of premiums for Limited premium policy.

Loan under LIC Bachat Plus Policy 861

Loan facility shall be available under the plan subject to the following conditions.

1. Under Single Premium: Loan shall be available at any time during the policy term after three months from completion of the policy (i.e. 3 months from the Date of issuance of policy) or after expiry of the free-look period, whichever is later. The maximum loan that can be granted shall be 90% of the surrender value

Under Limited Premium: Loan shall be available after at least two full years premiums have been paid. The maximum loan that can be granted as a percentage of surrender value shall be as under:

  • For inforce policies – 90%
  • For paid-up policies – 80%

Paid-up value : Once a LIC Bachat Plus Plan 861 policy has completed minimum 2 full years and more premiums paid, and policyholder chooses to stop paying further premiums, it automatically becomes eligible for paid-up value for limited premium option.

Paid-up value formula

Paid-up value = Sum Assured * Total number of premiums paid/Total number of premiums to be paid

LIC Bachat Plus Plan 861 with an Example

An example of Vinod who is purchasing this Plan with following details.

Sum Assured (Rs.)10,00,000
Age (Years)30
Policy Term (Years)21 years
Premium Paying Term5 years
Purchase Year2021
Yearly Premium1st. yrs (97394), 2nd yrs. (95297) onward
LIC Bachat Plus Plan 861 with an Example

As per above example, policy holder needs to pay the premium of Rs. 97394 1st. year and Rs. 95297 2nd year onward every year for 5 years (Premium Paying Term) and after completion of 21 years (Policy Term). The benefits (maturity & Year-wise death claims) related to this plan is given below.

Maturity Details

If Policy holder survives 21 years, then Maturity (Sum Assured + Loyalty Addition) will be as under.

Maturity YearAge at MaturityTotal Premium PaidMaturity Amount (Approx.)
204251 years4,78,58213,90,000

Death Claim Details

In case of death during policy term ( Before 21 years ), Sum Assured + loyalty Addition (Normal Life Cover) will be paid to nominee. In case of accidental death, additional amount equal to basic Sum Assured (Accidental Life Cover) will be paid to nominee. Year-wise and Age-wise Normal Life Cover and Accidental Life Covers will be as follows.

How to Understand given below Table?

YearAgeNormal Risk CoverACCD. Risk CoverPremiumMaturity

Suppose if, unfortunate death of policyholder happens in year 2036 (at age 45), then by that time total premium paid will be Rs. 4,78,552 and nominee will get death claim as Rs. 12,58,000 in case of normal death or Rs. 22,58,000 as accidental death claim in case of death due to accident and policy will be stop.

Also Read this : Invest 10K per month & Get Rs 1 Cr returns

Additional information

Revival : Policy should be revived before 5 years from last unpaid premiums.

Loan Facility : Loan facility is available under LIC Bachat Plus Plan 861.

  • Under Single Premium: After 3 months from the Date of issuance of policy
  • Under Limited Premium: After 3 months from the Date of issuance of policy

Riders Facility : Accidental Death and Disability Benefit Rider and Term Assurance Rider is available.

Suicide Clause : If Policy Holder Committed Suicide within 12 month from date of taking the policy 80% of paid premium will be returned back. If committed suicide after 1 year. Full Sum assured + Bonus will be paid by LIC to their nominee.

Cooling off Period : Policy holder can return back policy within 15 days from date of receiving the policy.

Proposal Form : Form No. 300, 340 and 360.

LIC others Endowment plans

LIC new endowment 914LIC Jeevan Labh Plan 936
LIC new jeevan anand plan 915LIC Jeevan Umang Plan 945

अधिक जानकारी के लिए कृपया संपर्क करें:

बास्पा नंद पंचोली
संपर्क सूत्र-: 9891009400
कार्यालय का पता:-
25, केजी, मार्ग, जीवन प्रकाश भवन
भारत का एलआईसी, शाखा इकाई 117 तीसरा तल,
सी.पी. नई दिल्ली -110001

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