LIC New Money Back Plan– 20 Year

LIC New Money Back Plan- 20 Years – 920 Money Back 20 yrs_English

Money back means the survival benefits which a policy holder gets in between his or her policy before the maturity cums and since it is a with profit plan so there is participation in the profits of the company in the form of Bonuses.

LIC New Money Back Plan- 20 Years – 920 Money Back 20 yrs_Hindi

Money back means the survival benefits which a policy holder gets in between his or her policy before the maturity cums and since it is a with profit plan so there is participation in the profits of the company in the form of Bonuses.

It is a money back plan for the tenure of 20 Years with a premium payment of 15 Years. Survival Benefit will be payable every after 5 years @ 20 % of Basic Sum Assured. On Maturity, balance 40 % of Sum Assured and vested reversionary bonuses with Final Additional Bonus will be payable in lump sum. The policy can be taken by any person between the ages of 13 years to 50 years.

Money Back Plan with Saving & Protection

Part of Sum Assured is payable after every 5 years in the form of Survival Benefit. Ideal to fulfil periodic goals. Also, enjoy maturity benefits at the end of the Term.

Life Protection with Guaranteed Returns

In case of Unfortunate demise during policy term, an amount equal to Sum Assured plus bonus will be payable without deduction of Survival Benefits paid earlier.

LIC New Money Back Plan – 20 Year Profit Sharing as per Valuation

Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.

LIC New Money Back Plan– 20 Year Fulfilment of Goals

Periodic Survival Benefits in the form of Money back. Ideal for those who have short term goals like dream vacation, taking new house, children education.

LIC New Money Back Plan – 20 Year Additional Accident Benefit

By paying a small extra premium amount, you can secure your life for high insurance protection on natural or accidental death by opting DAB and Term Rider.

LIC New Money Back Plan– 20 Year Advantages

Avail Tax benefit on premium paid

LIC New Money Back Plan– 20 Year Tax Free Maturity Amount

Tension Free Claim Settlement

Eligibility  Criteria:

Premium Modes
Yearly, Half-Yearly, Quarterly and Monthly (NACH only) or through salary deductions (SSS).

Riders Available

LIC’s Accidental Death and Disability Rider

LIC’s Accident Benefit Rider

LIC’s New Term Insurance Rider

LIC New Money Back Plan– 20 Year Death Benefit

On death of the Life Assured during the Policy Term, Sum Assured on Death along with vested Simple Reversionary bonuses and Final Additional bonus (if any), where “Sum Assured on Death” is defined as higher of 125% Basic Sum Assured or 7 times of annualised premium.

This Death Benefit (as defined above) shall not be less than 105% of total premiums paid up to the date of death. Where,
1. “Annualized Premium” shall be the premium amount payable in a year, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums.

2. “Total Premiums Paid” means total of all the premiums paid under the base product, excluding any extra premium, and taxes, if collected explicitly. In case LIC’s Premium Waiver Benefit Rider is opted for, in the event of death of Proposer, any subsequent Premiums which are waived shall be deemed to have been received and be included in the Total Premiums Paid.

LIC New Money Back Plan– 20 Year Survival Benefit

On Survival 20% of Basic Sum Assured shall be payable at the end of 5th, 10th and 15th years.

LIC New Money Back Plan– 20 Year Maturity Benefit

40% of Basic Sum Assured on Maturity alongwith vested Simple Reversionary Bonus and Final Additional Bonus.

LIC New Money Back Plan– 20 Year Loan Facility is available after completion of the first policy year provided one full year’s premium has been paid.

LIC New Money Back Plan– 20 Year Option to Surrender the Policy

The policy can be surrendered by the policyholder after completion of the first policy year provided at least one full year’s premium(s) has been paid. However, the policy shall acquire Guaranteed Surrender Value on payment of at least two full years’ premiums and Special Surrender Value after completion of first policy year provided one full year’s premium(s) has been paid. On surrender of an in-force or paid-up policy, the Corporation shall pay the surrender value equal to the Guaranteed Surrender Value and Special Surrender Value.

LIC New Money Back Plan– 20 Years is a traditional, non-linked life insurance policy that offers a combination of protection and savings. This plan provides periodic survival benefits every 5 years, ensuring liquidity during the policy term. In case of the policyholder’s death during the term, a full sum assured along with bonuses is paid, irrespective of the survival benefits already paid. On surviving the full 20-year term, the remaining maturity benefit along with bonuses is given. It’s ideal for those seeking both insurance coverage and regular payouts for planned financial goals.

 Benefits of LIC New Money Back Plan– 20 Year

1. LIC New Money Back Plan– 20 Year Survival Benefit
Receive 20% of the Basic Sum Assured at the end of every 5th, 10th, and 15th year — giving liquidity throughout the term.

2.LIC New Money Back Plan– 20 Year Maturity Benefit
At the end of the policy term (20 years), the remaining 40% of the Basic Sum Assured plus vested Simple Reversionary Bonuses and Final Additional Bonus (if any) is paid.

3.LIC New Money Back Plan– 20 Year Death Benefit
In case of the policyholder’s death during the term, the nominee gets the full Sum Assured on Death plus bonuses — regardless of any money-back benefits already received.

4.LIC New Money Back Plan– 20 Year Tax Benefits
Enjoy tax exemptions under Sections 80C and 10(10D) of the Income Tax Act (subject to prevailing tax laws).

Who Should Buy LIC New Money Back Plan– 20 Year ?

• Individuals looking for periodic returns with insurance

• Those who want life cover with short-term financial planning

• Ideal for parents, salaried professionals, or anyone who wants disciplined savings with protection

Get More Plans Here.