Money Back Plans

                           New Money Back Plan - 20 Year

New Money Back (Plan No.820) Term 20 Years

New Money back plan will provides periodical returns of survival benefits during the policy term. In this plan 20% of the sum assured is payable at the end of the 5th, 10th and 15th

year of the policy term, and the balance of 40% and the accrued bonuses becomes payable at the end of the 20th year.

At the time of death at any time within the policy term, the death claim comprises full sum 

assured without deducting any of the survival benefits. which have already been paid. Similarly the bonus is also calculated on the full sum assured.

Features:

• Survival Benefits are paid periodically
• Balance of the sum assured along with accrued bonuses is paid at the end of policy term
• Premium payment term is only 15 years 
• Double Tax Benefit u/s 80 C and u/s 10D
• Death risk cover is 125% of the basic sum assured
• Additional accidental sum assured
• Loan is available against this plan

Eligibility Conditions:

Periodical Survival Benefits:

Double Tax Benefit:

U/S 80 C   : Premiums paid under this plan are eligible for tax rebate U/S 80C

U/S 10(D) :  Maturity Returns / death claim amount is also tax Free U/S 10 (D)

Possible Events during Policy Term:

On Survival

If the policy holder survives the policy term, he/she will receive survival benefits as below:

On Death

If the policy holder dies during the policy term, his/her nominee will receive these benefits.

1. 125% of the Basic Sum Assured or 10 times the annual premium (whichever is higher)

2. Simple Reversionary Bonus

3. Final Additional Bonus (if any)

The periodical survival benefits which have already been paid will not be deducted.

On Accidental death

If during the policy term, the policy holder dies due to an accident, his/her nominee will get

the following benefits

1. 125% of the Basic sum Assured or 10 times the annual premium (whichever is higher)

2. Additional Accidental Sum Assured 

3. Simple Reversionary Bonus

4. final Additional Bonus (if any)

The periodical survival benefits which have already been paid will not be deducted.

Understand New Money Back Plan -20 Years with an example

Mr.Rajesh is a 25 year old working man. He takes LIC Money back plan - 20years for sum assured of Rs 2,00,000/- He is required to pay annual premium of Rs 15,667/- (Fifteen Thousand Six Hundred and Sixty Seven only) for 15 years.

Survival Benefits

On Death

If Mr. Rajesh dies during the policy term, her nominee will receive 1255 of sum assured 

along with the accrued bonuses. Any survival benefit which has been already paid will not

be deducted.

On Accidental Death

Of Mr. Rajesh dies due to an accident, during the policy term, his nominee will receive the 

125% of Sum Assured + Additional accidental Sum assured + Accrued bonuses. Any survival benefit which has been already paid will not be deducted.

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New Money Back -25 Years (Plan No.821)

LIC's New Money Back Plan - 25 Years will provides periodical returns of survival benefits during the policy term. In the plan 15% of the sum assured is payable at the end of 5th, 10th,
15th and 20th year of the policy term, and the balance of 40% plus the accrued bonuses becomes payable at the end of 25th year.

In the event of death at any time within the policy term, the death claim comprises 125% of the sum assured without deducting any of the survival benefit amounts, which have already been paid. Similarly, the bonus is also calculated on the full sum assured.

Features:

• Survival Benefits are paid periodically
• Balance of the sum assured along with accrued bonuses is paid at the end of policy term.
• Premium payment term is only 20 years
• Double Tax Benefit U/S 80 c and U/S 10 D
• Death risk cover is 125% of Sum Assured
• Additional accidental sum assured
• Loan is available against this plan

Eligibility Conditions:

Periodical Survival Benefits:

Double Tax Benefit:

U/S 80 C : Premiums paid under this plan are eligible for tax rebate 

U/S 10 (D) : Maturity Returns / Death claim amount is also tax free 

Possible Events during Policy Term:

On Survival

If the policy holder survives the policy term, he/she will receive survival benefits as below:

On Death

If the policy holder dies during the policy term, his /her nominee will receive:

1. 125% of Sum Assured
2. Simple Reversionary Bonus
3. Final Additional Bonus (if any)

The periodical survival benefits which have already been paid will not be deducted.

On Accidental death

If during the policy term, the policy holder dies due to an accident, his/her nominee will receive:

1. 125% of the sum assured
2. Additional accidental sum assured
3. Simple Reversionary Bonus
4. Final Additional Bonus (if any)

The periodical survival benefits which have already been paid will not be deducted.

     Understand New Money Back Plan - 25 Years with an example

Mr. Aravind is a 28 years old working professional. He buys New Money back plan - 25 years

for the sum assured of Rs 5,00,000/- (Five Lakh Rupees Only). He is required to pay annual

premium of Rs 29,860/- Twenty Nine Thousand Eight Hundred and Sixty Rupees Only) for 20 years.

Survival Benefits

On Death

If Mr. Aravind dies during the policy term, his nominee will receive 125% of the sum assured along with the accrued bonuses. Any survival benefit which has been already paid will not be

deducted.

On Accidental Death

If Mr. Aravind dies due to an accident, during the policy term, his nominee will receive the 

125% of the Sum Assured + Additional Accidental Sum assured + Accrued bonuses. Any 

survival benefit which has been already paid will not be deducted.

 CONTACT FOR DETAILS: 9291203177