LIC's New Money Back Policy (Table No- 821) is a Non-Linked gauranteed returns endowment plan.LIC New Money Back Policy for 25 years lets you enjoy 15% of sum assured after every fifth, tenth, fifteenth and twentieth year of the policy. And, on the twenty fifth year, it provides you the accrued bonus along with 40% of policy's balance.You can select the type of money back policy as per your financial requirements.
Features of LIC New Money Back Policy:
This is a simple money back plan with both Death and Survival Benefits.
Money back will be paid once in every 5 years.
Available under Section 80 C for premiums paid.
And Section 10 (10D) for Maturity returns.
Eligibility Criteria For Money Back Plan | |
---|---|
Minimum Age at Entry | 13 Years (Completed) |
Maximum Age at Entry | 45 Years(Nearest Birthday) |
Maximum Maturity Age | 70 Years(Nearest Birthday) |
Policy Term | 25 Years |
Premium Paying Term | 20 Years |
Minimum Sum Assured | 1,00,000/- |
Maximum Sum Assured | No Limit (sum assured in multiple of 5000/-) |
Policy Mode | Yearly, Half-Yearly, Quaterly, Monthly (NACH only |
Rebate Of Mode Of Premium | Yearly - 2%
Half-Yearly - 1% Quaterly & Monthly - Nil |
High Sum Assured Rebate | 1,00,000 to 1,95,000 - Nil
2,00,000 to 4,95,000 - 2% on B.S.A. 5,00,000 and Above - 3% on B.S.A. |
Loan | After payment of premiums for at least 3 full years |
Revival | Within 2 Years of lapse |
Death Benefit:
On death of the life insured, Sum Assured on Death ( 125% of SA or 10 times Annual Premium whichever is higher) with the accured Bonus will be paid to the nominee without deducting any of the earlier money back paid.
Maturity Return:
40 % of Sum Assured with Bonus and Loyalty Additions (if any) will be paid.
Money Back Amount
The return on every 5th year is: 15% of Sum assured in 5th , 10th ,15th & 20th yr for a policy term of 25 years
Related Links
Aadhaar Shila Plan (TABLE NO. 844)
New Endowment Plan (Table No. 814)
Jeevan Labh Plan (Table No. 836)
Jeevan Lakshaya Plan/Kanyadaan Plan (Table No. 833)
Aadhaar Stambh Plan (Table No. 843)
New Jeevan Anand Plan (Table No. 815)
Jeevan Pragati Plan (Table No. 838)
Limited Premium Endowment Plan (Table No. 830)
New Money Back Plan (Table No. 820)
LIC New Money Back Plan 25 Years (Table No. 821)
LIC Children Money Back Plan( Table No. 832)
LIC Jeevan Shiromani Plan
( Table No. 847)
Jeevan Umang Plan (Table No. 845)
New Jeevan Anand Plan (Table No. 815)
Jeevan Akshay (VI) (Table No. 189)
Pradhan Mantri Vaya Vandana Yojana (Table No. 842)
LIC Children Money Back Plan ( Table No. 832)
LIC Jeevan Tarun Plan (Table No. 834)
Jeevan Utkarsh (Table No. 846)
Single Premium Endowment Plan (Table No. 817)
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