LIC's NEW MONEY BACK PLAN – Plan no-820

LIC's NEW MONEY BACK PLAN – Plan no-820

 

 

20 years Money Back Plan

 

 

1. Periodical survival benefits at the rate of 20% of the Sum assured paid every 5 years.

2. Prospects between the age of 13 years to 50 years can be insured.

3. Premium paying term 15 years only.

3. Higher risk cover for low premium.

4. Maximum age at maturity is 70 Years.

5. Minimum sum assured is Rs.1 lac and there is no limit for the maximum sum assured.

6. Loan facility available after 3 years.

7. Income tax benefits u/s 80C is available and maturity benefits are tax free.

 

 

Maturity Benefits:

On maturity 40% of Basic Sum assured along with Bonus and Final Additional Bonus(if any) will be paid.

 

 

 

Death Benefits:

“Sum assured on death” along with vested bonus and final additional bonus(if any) will be paid.
Sum assured on death shall be the higher of (1) 125% Basic sum assured (2) 10 times the
Annualised Premium (3) 105% of the premiums paid as on the date of death.

Accident and Disability Benefit rider:
Available for persons aged between 18 to 55 years on payment of RS.1‰ SA for a maximum
amount of Rs.50 lac. A new concept of activity of daily living to define disability introduced.

Plan Parameters:

 

 

Note:

LIC introduced few more Plans fore details check the below link

LIC's NEW ENDOWMENT PLAN – Plan no-814
LIC's NEW JEEVAN ANAND PLAN – Plan no-815
LIC's NEW BIMA BACHAT PLAN – Plan no-816
LIC's SINGLE PREMIUM ENDOWMENT PLAN – Plan no-817
LIC's NEW MONEY BACK PLAN – Plan no-820
LIC's NEW MONEY BACK PLAN – Plan no-821