LIC NEW MONEY BACK PLAN – 20 YEAR is a endowment money back plan launched on 06 JANUARY 2014.In this plan policy holder (insured) will get 20% of basic sum assured as a money back at the end of every 5 year (5th , 10th ,15th year) and balane 40% sum assured with the accrued bonus at the end of 20th year on maturity.
∙ Liquidity available at different stages for financial protection.
∙ 20% of basic sum assured as a money back on 5th ,10th ,15th policy year.
∙ Accidental Death and Disability Rider available.
: If insured dies during the the policy term his/her nominee will get 125% of the basic sum assured or 10 times the annual premium (whichever is higher) + simple revisionary bonus and final addition bonus (if any).
: During the survival period insured will get 20% of basic sum assured as a money back every 5 year of policy term (5th ,10th ,15th).
: End of the policy term(20th year) insured will get 40% of basic sum assured along with vested simple revisionary bonuses and final addition bonus (if any) as a maturity benefit.
|Sum Assured||Rs. 1,00,000||No Limit|
|Policy Term||20 years|
|Premium Payment Term||15 years|
|Entry Age||13 years||50 years|
|Age at Maturity||33 years||70 years|
|Payment Modes||Yearly, Half-Yearly, Quarterly, Monthly(ECS)|