New Money Back Plan 20 Years (T-820)
LIC Money Back Plan is a conventional plan which provides money back to the client at regular intervals. Money back helps the policyholder to utilize it or to further invest it for better returns as per their requirements.
LIC New Money Back Plan – USP’s
Let’s check some unique selling points of New Money Back Plan
- Cover wide age group from 13 years to 50 years.
- Risk cover up to 125% of sum assured from day 1.
- Money back of 20% of sum assured every 5th year.
- This Plan is available with helpful add-on riders like accidental rider and term rider for extra benefits to the policyholder.
- Double tax benefit of section 80C and 10(10D).
- Policyholders can avail loan facility on this plan after completing 3 years.
- 20% of Basic Sum Assured is Payable After 5th, 10th and 15th year of Policy, And at Maturity 40% of Basic Sum Assured + Vested Bonus + FAB.
Death Claim Benefit:
- Sum Assured on Death (125% of Basic Sum Assured) + Vested Bonus + FAB, if any
|Minimum Age to Apply||13 Years (Completed)|
|Maximum Age to Apply||50 Years (Nearest Birthday)|
|Policy Term||20 Years|
|Premium Paying Term||15 Year (Fixed)|
|Maximum Maturity Age||70 Years|
|Premium Paying Mode||Yearly, Half Yearly, Quarterly, Monthly (NACH)|
|Basic Sum Assured||100000 and above ( in multiple of 5000)|
|Loan||After 3 years|