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Brief Plan Features

  • Risk Coverage 125% of Basic Sum Assured.
  • Liquidity at different Stage:20% of Basic Sum Assured in 5th, 10th, 15th policy year.
  • Maturity Benefit:40% of Basic Sum Assured + Bonuses.
  • Accidental Death & Disability Benefit Rider available.

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

LIC's New Money Back Plan-20 years is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term.

  • Minimum Basic Sum Assured: Rs. 1,00,000/-
  • Maximum Basic Sum Assured: No Limit
  • Policy Term: 20 years
  • Premium Paying Term: 15 years
  • Minimum Entry Age: 13 years (completed)
  • Maximum Entry Age: 50 years (nearer birthday)
  • Maximum Age at Maturity for Life Assured: 70 years
  • Mode of Premium Payment: Yearly, half-yearly, quarterly & monthly
  • Accidental Death & Disability Benefit Rider is available on payment of additional premium.

LIC's New Money Back 20Years Benefit Details

On Death

"Sum Assured + Vested Bonus + FAB if any." Where 'S.A. on Death' is defined as the higher of 10 times of Anualized Premium, OR 105%of all Premiums paid as on death OR 125% of Basic Sum Assured. The premiums exclude taxes, extra premium and rider premiums.

On Survival

20% of Basic SA is payable after 5th, 10th and 15th year of policy. Maturity Time 40% of Basic Sum Assured + Vested Bonus + FAB if any.

Surrendered Value

The Policy can be surrendered at any time during the policy term provided atleast 3 full years premiums have been paid.

Loan

Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.

Income Tax Benefit

Premium paid under this plan is eligible for TAX rebate under section 80c.Maturity under this plan is free under sec 10(10D).