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Lic Money Back Policy 20 years Review

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Lic Money Back Policy 20 Years

Lic Money Back 20 years Policy Introduction

LIC Money Back policy 20 years is a non-linked life insurance policy which offers an attractive combination of protection against death ,guaranteed returns and bonus. LIC Money Back Policy 20 years is also known as LIC New Money Back policy 20 years provides a financial support for the family of the deceased policyholder any time before maturity and lump sum amount will be given to the policy holder at the time of maturity on surviving of policyholders. Lic Money Back policy 20 years  also takes care of liquidity needs through its loan facility and there is High Bonus and High liquidity and saving point.

You can calculate the LIC Money Back Policy 20 years Maturity amount and Premium that has to be paid to get all the benefits available under this policy by using LIC Money Back Policy 20 years Premium and Maturity calculator. You can also get Additional Bonuses along with the Benefits and Riders available under this plan.

Lic Money Back Policy 20 years Eligibility and Conditions

Lic Money Back policy 20 years Eligibility:

Entry Age Maximum Age: 30 years Minimum Age: 15 years

Lic New Money Back 20 years policy Sum Assured:

Minimum Maximum
Sum Assured Rs. 1,00,000/- No Limit

Lic New Money Policy 20 years Policy Term:

Policy Term 20 years
Maximum Maturity Age 70 Years(nearest birthday)

Lic Money Back Policy 20 years Premium Paying Mode:

A grace period of one month but not less than 30 days will be allowed for yearly, half-yearly, quarterly modes and 15 days for monthly mode of premium payment.

Monthly (SSS, ECS) Quarterly Half yearly Yearly

Lic Money Back policy 20 years Conditions:

The documents required to take the Lic Money Back Policy 20 years are

  • Application form/proposal form with photo
  • Address proof
  • Age Proof
  • Medical reports (if required)

Accident Death and Disability Benefit Rider

  • Minimum Age at entry : 18 years(Completed)
  • Maximum Age at entry :  The cover can be opted for at any policy anniversary during the premium paying term.
  • Maximum Cover Ceasing Age : 70 years (nearest birthday)
  • Minimum Accident Benefit Sum Assured : Rs. 1,00,000
  • Maximum Accident Benefit Sum Assured :  An amount equal to Basic Sum Assured subjected to the maximum of RS. 50,00,000 /-overall limit by taking all existing policies of the Life Assured under individual Policies as well as Group policies.

Lic Money Back policy 20 years Sum Assured Rebate

Sum Assured Rebate
From Rs. 1,00,000/- to Rs. 1,95,000/- NIL
From Rs. 2,00,000/- to Rs. 4,95,000/- For every  1,000 Rs./- Sum Assured  2.00 Rs/- rebate
From Rs. 5,00,000/- and above For every  1,000 Rs./- Sum Assured  3.00 Rs/- rebate

Lic Money Back Policy 20 years premium and Maturity Calculator

You can calculate your policy premium with premium calculator

To Calculate you must need to enter your Name, Email ID,MOBILE number, Age, Term, Sum Assured.

Lic Money Back policy 20 years Key Features and benefits

Lic New Money Back Policy 20 years Key Features:

  • Lic Money Back Plan for a tenure of 20 years
  •  20% of Sum Assured is paid at the end of 5th, 10th and 15th Year as Survival Benefit
  • Lic Money Back Policy has a special feature that Simple Reversionary Bonus is payable on maturity or earlier death
  • Large Sum Assured is available in Lic Money Back policy
  • Accidental Death and Disability Benefit Rider is available.

Lic New Money Back Policy Benefits:

1.Survival Benefit:Policy Holder will be payable 20% of Basic Sum assured

  • 5th year – 20% of Sum Assured
  • 10th year – 20% of Sum Assured
  • 15th year – 20% of Sum Assured
  • 20th year – 40% of Sum Assured + Accrued Bonuses

2. Death Benefit: 

If the  Insured person dies within the Policy Term then Nominee  of the Policy will be given  Death Benefit.

  • 125%(Sum Assured on Death) + Simple Reversionary Bonus + FAB(final additional bonus) if any.

3.Accidental death Benefit: If during the policy term, the policy holder dies due to an accident, his/her nominee will get following as Accidental death benefit.

  • 125% of the Basic Sum Assured or 10 times the annual premium (whichever is higher)
  • Additional Accidental Sum Assured
  • Simple Reversionary Bonus
  • Final Additional Bonus (if any)

Lic Money Back Policy 20 years Claims

Lic New Money Back policy 20 years have 2 types of claims they are Maturity Claim and Death Claim.

1.Maturity Claim:

  • Sum Assured – Survival Benefits +  Simple Reversionary Bonus + FAB(final additional bonus) if any.

For Example:

Mr.Naveen is a 25 years old working men. he takes LIC Money back plan – 20 years for the sum assured of Rs 2500000/- (Rupees Two Lakhs only).Premium paying term is 15 years then he get Maturity Benefit 3,050,000 and Survival benefits 1,500,000 total he can get 4,550,000 as Maturity benefit.

2.Death claim :

  •  Sum Assured on Death means 125% of Basic sum assured (1.25 x BSA) or 10 times Annual Premium (10 x AP) whichever is higher that amount will be paid to nominee.  Death benefit paid should be more than 105% of total premiums paid as on the date of death.

Lic Money back policy 20 years Bonus:

There are 2 types of Bonuses are available in this plan: 

  • Simple Reversionary Bonus is declared per thousand Sum Assured annually at the end of each financial year.  Once declared, they form part of the guaranteed benefits of the plan. Bonuses will be added during the selected term or till death, if it occurs earlier. No bonus is paid on death after the premium paying term.
  • Final Addition Bonus may also be payable provided the policy has run for certain minimum period.

Lic Money Back Policy Risk Cover:

  • Minimum Sum Assured = Rs. 1,00,000.
  • Maximum Sum Assured = No Limit.

Lic Money Back Policy Loan Facility:         

  • In Lic Money Back policy 20 years  loan facility is available after the policy acquires paid up value.                    

Additional Information:

  • Housing Loan Surety:  Available
  • Riders available:  Yes
  • Policy Revival: Policy can be revived before 2 years from date of First Unpaid Premium (FUP).
  • Suicide Clause: if insured commit suicide before 12 months he will be returned back 80% of premium what he paid.

Lic Money Back Policy 20 years Status

To Know the Lic Money Back Policy status you can now also check through online and more info about Lic Money Back policy 20 years will be available in below link

Lic Money Back policy 20 years

Lic Money Back Policy 20 years Example

Mr.Naveen is a 25 years old working men. he takes LIC Money back plan – 20 years for the sum assured of Rs 2,00,000/- (Rupees Two Lakhs only). he is required to pay annual premium of Rs 15,667.00 (Rupees Fifteen Thousand Six Hundred and Sixty Seven only) for 15 years.

Survival Benefits
5th year   – Rs 40,000.00 (20% of 2,00,000/-)
10th year  – Rs 40,000.00 (20% of 2,00,000/-)
15th year  – Rs 40,000.00 (20% of 2,00,000/-)
20th year  – Rs 80,000.00 (40% of 2,00,000/-) + Accrued Bonuses.

On Death:
If Mr. Naveen dies during the policy term, her nominee will receive 125% of sum assured along with the accrued bonuses. Any survival benefit which has been already paid will not be deducted.

On Accidental Death:

If Mr. Naveen dies due to an accident, during the policy term, his nominee will receive the 125% of Sum assured + Additional accidental Sum assured + Accrued bonuses.
Any survival benefit which has been already paid will not be deducted.

Benefit Illustration:

Suppose if Naveen taken New Money Back Plan for 10,00,000 Rs./-  for 20 years then if he dies then he will be paid  125% of Basic Sum Assured or 10 times of annual Premium whichever is higher means

Basic Sum Assured is Rs. 10,00,000

125% of BSA                10,00,000  X 125/100  = 12,50,000

Suppose Naveen Paid Premium for 5 Years and died. Let Annual Premium  be 50,000 then

10 times of 50,000 is Rs. 5,00,000/-

As 12,50,000  is higher than 5,00,000  Nominee get 12,50,000 as Death Benefit.

 IF he survives

  • At end of 5th year he get 2,00,000 /-
  • At end of 10th year he get 2,00,000 /-
  • At end of 15th year he get 2,00,000 /-
  • At Maturity age i.e., he get 4,00,000 +Vested Bonus + FAB

Lic Money Back Policy Tabular Premium

13 77.60
14 77.65
15 77.75
16 77.80
17 77.85
18 77.90
19 77.95
20 78.00
21 78.05
22 78.10
23 78.20
24 78.25
25 78.35
26 78.45
27 78.60
28 78.70
29 78.90
30 79.10
31 79.30
32 79.55
33 79.85
34 80.15
35 80.50
36 80.90
37 81.35
38 81.85
39 82.35
40 82.95
41 83.55
42 84.25
43 85.00
44 85.80
45 86.65
46 87.60
47 88.60
48 89.65
49 90.80
50 92.05

Lic Money Back Policy 20 years FAQs

1.What Happend if policy holder stop paying the premium?

A.If the premiums are not paid within Grace Period, the policy lapses and all benefits cease. However, if at least 3 years’ premiums have been paid, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions.

Reduced Sum Assured = Basic Sum Assured *(Number of Premiums Paid / Total Number of Premiums Payable)

The policy can however be revived within 2 consecutive years from the date of first unpaid premium.

2.How to surrender the policy ?

A.The policy can be surrendered only after it accrues Cash Value after at least 3 years’ premiums have been paid.This percentage will depend on the policy term and policy year in which the policy is surrendered and specified as per the table mentioned.

Other Money Back Plans available in LIC

LIC Money Back Policy 25 years

LIC Jeevan Shagun Policy

LIC New Bima Bachat Policy

LIC New Children Money Back Policy 

Comments

    • sagar says

      hi my name is sagar dhumal insurance advisior so pls send ur cell no.on my email id then i will call u

      my cell no.is 9167378026

      any help about LIC pls contact me i will help u

      Reply

  4. ashok says

    1. I have Money back policy for 20 years of rupees 3890 Rs (Quarterly). What is my sum assured and how much I will get after each 5 years and after 20 years?? What is Accidental Cover??

    2. I also have New Jeevan Anand for 20 years of rupees 6936 Rs (Quarterly). How much amount I will be getting after 20 years? What is Accidental Cover?? What is Sum Insured??

    Please let me know.. I dont know how to check.

    Thanks in advance….

    Reply

  5. Manoj sharma says

    Clear your doubt / query about Lic plan and policy….in GURGAON and delhi……NCR….
    भारतीय जीवन बीमा निगम.
    Manoj Sharma
    Lic Life Insurance Advicer
    mnjshrm638@gmail.com
    9911335083.

    Reply

  6. Manoj sharma says

    Clear your doubt / query about Lic plan and policy….in GURGAON and delhi……NCR….
    भारतीय जीवन बीमा निगम.
    Manoj Sharma
    Lic Life Insurance Advicer
    mnjshrm638@gmail.com
    9911335083…

    Reply

  7. b.dash says

    Hi.. I have done a NEW MONEY BACK PLAN for 25yr(36000/anum) What will be the sum which I ll get after 5yr.. & sum assured??

    Reply

  8. Manoj Sharma says

    Clear your doubt / query about Lic plan and policy….in GURGAON and delhi……NCR….
    भारतीय जीवन बीमा निगम.
    Manoj Sharma
    Lic Life Insurance Advicer
    mnjshrm638@gmail.com
    9911335083..

    Reply

  9. Manoj Sharma says

    Clear your doubt / query about Lic plan and policy….in GURGAON and delhi……NCR….
    भारतीय जीवन बीमा निगम.
    Manoj Sharma
    Lic Life Insurance Advicer.
    mnjshrm638@gmail.com
    9911335083…

    Reply

  11. Gaurav Jindal says

    Call on 7417697497 for any query or clarification regarding LIC policy.
    Thanks,
    Gaurav Jindal
    +91-7417697497

    Reply

  12. Sagar Nikam says

    Dear Sir,

    I want information about how i can withdraw my survival benefit from LIC Money back policy. I completed 5 years now.

    Please guide

    Thanks ,

    Sagar Nikam

    Reply

  13. Balaji Birajdar says

    Naveen ( in above example) pays yearly premium of 50,000 for 20 years .i.e. 10 lakhs. In return he gets 10 lakhs . So whatever money he paid is returned back to him….. without any interest after 20 years when the value of 10 lakhs will be like todays 1 lakh.

    Reply

  14. Garish Kumar Sabharwal says

    I have deposited my premium of money back policy continuing up to 15 years now I am liable to get 20% of sum insured of Rs.200000.00. Means Rs 40000.00 I have get against my ,20 Years Money back plan. And I want this Rs.40000.00 should be direct goes to my Saving account. Let me know what should I have to done and when I will receive this amount..please cooperate my policy no is ……………. From your sham nagar Branch Ludhiana punjab

    Reply

  15. Logeshwaran R says

    Hi I have stated LIC money back policy 820, My payment method is six month once about 18880. need to pay 15 yrs, I guess total sum assured is 5,00,000. what are all the benefits i will have? at the end of 20 years how much money will i get back?

    Logesh

    Reply

  19. vasant harinath gurav says

    i have money back lic policy commence date.29 AUG 2006. My yearly premium Rs.3513/-. policy for 20 yrs.
    every after four year we got Rs.10000/- money back.
    my policy value Rs.50,000/-

    How much amount will be received me after maturity??

    Reply

  22. gourav says

    hello sir i am gourav kumar i want to a new police plan for my
    son. his birth last 10 month befor you plz give me detail for a educationl police .

    Reply

  23. K.SRINIVASAN says

    Money back policy six month only 3200. Samthing paid.. abhi fifteen year running. Twonty year may kithnaamount millega.

    Reply

  25. pracely says

    Dear sir, I am 23 yrs old . I m planning to take 20 yrs Money back policy with SA of 100000/-. Kindly do inform me wht r the benefits ,wht wl be the maturity value, & the death benefit.

    Kindly guide whether this policy suits my requirement.

    Reply

  26. Anand says

    I am Anand from Bangalore, I am working with LIC company if you need any policy please contact me 8553851110

    Reply

  28. sunita nigam says

    please provide the policy no. becoz. deposit the Premium

    details is mation below:=

    sunita nigam d/o late ramesh chnad nigam
    qtr. no. t/98 a railway loco colony jaipur-302006

    thanks & regard
    sunita nigam

    Reply

  30. Ashok singh says

    My name ashok singh my age is 29 years .
    200000. Rep.. Policy ki kist kitni aaygi….
    3 month m

    Reply

  31. ketan says

    Those who taken police, there is an 100% posibility of loosing of money more than expectation so care full. they do not give you full amount which is paid by peoples

    Reply

  32. RAKESH KUMAR says

    HELLO SIR, MAINE SIR PLAN 820 NEW MONEY BACK PLAN KARVAYA THA 15 OCT 2015 KO AUR SIR ME AB ISE CLOSE KARNA CHAHTA HU TOH SIR KITNE YEARS BAAD ESE CLOSE KAR SAKTE HAI.PLEASE TELL ME

    Reply

  36. ramkumar says

    I have taken a Bhima gold policy for Rs.50,000/- 20 years in 2006.. the policy is in force now and i want to surrender the policy.. Can any one tell me the surrender value

    Reply

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