LIC New Money Back Plan - 20 Years

LIC Money Back Policy -  25 Years Plan

LIC Money Back Policy 25 years is a Money Back Plan from Life Insurance Corporation of India or an anticipated endowment policy. This is a non unit-linked insurance traditional plan where the money is paid as pre-decided intervals. In this policy, if the Life Insured survives then he would receive 15% of the Sum Assured at the end of 5, 10, 15 and 20 years and the remaining 40% of the Sum Assured plus accrued Bonus is payable on maturity at the end of 25 years. However, if the Life Insured dies within the policy tenure, then the nominee would receive the full Sum Assured irrespective of how much has already been paid out before and Bonus being calculated on the full Sum Assured and the policy terminates.

Key Features of LIC Money Back Policy - 25 years

• This is a simple money back plan with both Death and Survival Benefits.
• Simple Reversionary Bonus is payable on Policy Maturity or on earlier death.
• Survival Benefit 15% of the Sum Assured is payable at the end of 5, 10, 15 and 20 years and the remaining 40% of the Sum Assured is payable on maturity at the end of 25 years
• Optional higher cover through Riders

Benefits you get from LIC Money Back Policy - 25 years

• Death Benefit – In case of death of the Life Insured, the nominee receives the full Sum Assured irrespective of what payment has already been provided + accrued Bonus
• Survival Benefit – The Life Insured would receive The following Survival Benefit

Check the Bonus rate of LIC Money Back Policy - 25 Years

Maturity Benefit – At the maturity of the policy, the insured will get the remaining 40% of the Sum Assured along with accrued Bonus
Income Tax Benefit – Premiums paid under life insurance policy are exempted from tax under Section 80 C and maturity proceeds are exempted from tax under Section 10 (10D)

Eligibility conditions and other restrictions in LIC Money Back Policy - 25 years

Sample illustration of premium of LIC Money Back Policy - 25 years

The below illustration is for a healthy Male (non-tobacco user) opting for a
Age : 30 years, 35 years & 40 years.
Sum Assured : Rs 1,00,000
Policy Term : 25 years.

Additional Features and Benefits of LIC Money Back Policy - 25 years

Riders - There are 3 additional riders in this plan

• Accidental Death Benefit Rider of Re 1 per Rs 1000 Sum Assured.
• Term Rider
• Critical Illness Rider

What happens if?

• You stop paying the premium – If you stop paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions.
• You want to surrender the policy – There is a Guaranteed Surrender Value after 3 policy years
  • Guaranteed Surrender Value = 30% of all premiums paid – 1st year’s premium
• You want a loan against your policy – Loan facility is not available under this policy