Contents
- 1 Lic Money Back 20 years Policy Introduction
- 2 Lic Money Back Policy 20 years Eligibility and Conditions
- 3 Lic Money Back policy 20 years Sum Assured Rebate
- 4 Lic Money Back Policy 20 years premium and Maturity Calculator
- 5 Lic Money Back policy 20 years Key Features and benefits
- 6 Lic Money Back Policy 20 years Claims
- 7 Lic Money back policy 20 years Bonus:
- 8 Lic Money Back Policy 20 years Status
- 9 Lic Money Back Policy 20 years Example
- 10 Lic Money Back Policy Tabular Premium
- 11 Lic Money Back Policy 20 years FAQs
- 12 Other Money Back Plans available in LIC
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 |
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.
replay
good enough plan
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
962264334
I hv a LiC policy no. 438996834, started on 28.032008 and yearly premium of Rs. 2389/-. after 4 years I hv recvd of Rs. 5500/- on 07.04.2012. but I hv not recvd any amount after 8 years. Kindly check and assist me.
Thks for yr cooperation.
Rgds,
Sandip Sarkar
9830172055
Sir call mr
lic polices of jeevan andhan is very good…
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….
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.
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…
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??
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..
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…
I have Money back policy for 20 years of rupees 5995 Rs (Quarterly) and premium paying term is 15 year. how much I will get after each 5 years and after 20 years??
Regards:
Deepak Jindal
07838068727
deepakjindaldj2007@gmail.com
Call on 7417697497 for any query or clarification regarding LIC policy.
Thanks,
Gaurav Jindal
+91-7417697497
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
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.
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
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
my lic no 767058792
survival benifit 7500/- but why payment 5000/
How to calculate assured benefit
How to calculate accrued bonus
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??
OK sir advice me
want to get an insurance plan for yearly 1 lakh as an investment
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 .
Money back policy six month only 3200. Samthing paid.. abhi fifteen year running. Twonty year may kithnaamount millega.
policy no:767774674
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.
I am Anand from Bangalore, I am working with LIC company if you need any policy please contact me 8553851110
Hi sir piles call ma
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
prabhakar kumar singh
My name ashok singh my age is 29 years .
200000. Rep.. Policy ki kist kitni aaygi….
3 month m
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
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
this is good plane for all indians
TELL TOTAL AMOUNT I WILL GET AFTER 20YEARS IN 1 LAKH PLAN MONEY BACK
How much Accrued Bonuses i will got in money back 20 year plan.(RS 1,36000)
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
I am neeraj.my ae 23 years.l want to open lic policy 20 years.tell me minimum rupees policy
I am lic d. o.8875609007