LIC’S NEW MONEY BACK PLAN-20 YEARS

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.

 

WHY CHOOSE THIS PLAN

∙  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.

 

BENEFITS OF PLAN :

ON DEATH : 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).

SURVIVAL BENEFIT: 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).

MATURITY BENEFIT : 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.

 

PLAN PARAMETERS :

  Minimum Maximum
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)

 

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