- 1 LIC New Money Back Policy 25 Years Introduction
- 2 Lic Money Back Policy 25 years Eligibility Conditions
- 3 Accident Death and Disability Benefit Rider
- 4 Lic Money Back policy 25 years Rebates
- 5 Lic Money Back Policy 25 years premium and Maturity Calculator
- 6 Lic Money Back policy 25 years Review and Key Features
- 7 Lic Money back policy 25 years Benefits
- 8 Lic Money Back Policy 25 years Claims
- 9 Additional Information Related to Money Back Policy 25 years
- 10 Lic Money Back Policy 25 years Example
- 11 Lic New Money Back policy 25 years Tabular premium
- 12 Lic Money Back Policy 25 years FAQs
- 13 Other Money Back Plans available in LIC
LIC New Money Back Policy 25 Years Introduction
Lic New Money back policy 25 years is a non-linked life insurance plan which offers guaranteed returns and bonus. Lic Money back 25 years insurance policy combines the dual benefits of savings and insurance. In money back 25 years insurance policy partial survival benefits means some percentage of sum assured are paid to the policyholder at specific intervals during the term of the policy.
Lic New Money back policy 25 years(Table no 93) is a regular premium paying money back insurance policy. Premium in this plan needs to be paid for a period of 20 years using LIC Money Back Policy 25 years Calculator, while the policy continues for 25 years. Policy can be taken by anyone between 13 to 45 years of age for a fixed tenure of 25 years. The main benefit of this New money back policy 25 years is some percentage of sum assured i.e 15% will be paid back to the policy holder in the form of survival benefit periodically for every 5 years during the policy term.
Lic Money Back Policy 25 years Eligibility Conditions
Lic Money Back policy 25 years Eligibility
|Entry Age||Maximum Age: 45 years||Minimum Age: 13 years|
Lic New Money Back 25 years policy Sum Assured
|Sum Assured is||Rs. 1,00,000/-||No Limit|
The basic sum assured shall be in the multiples of Rs. 5000/-
Lic New Money Policy 25 years policy term
|Policy Term||25 years|
|Maximum Maturity Age||70 Years(nearest birthday)|
Lic Money Back Policy 25 years Premium Paying Mode
|Monthly (SSS, ECS)||Quarterly||Half yearly||Yearly|
Conditions: The documents required to take the Lic Money Back Policy 25 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 25 years Rebates
Lic Money Back policy Mode Rebate:
- Yearly – 2% of tabular premium
- Half yearly – 1% of tabular premium
- Quarterly – Nil
- Monthly – Nil.
Lic Money Back policy 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 25 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 25 years Review and Key Features
- Lic new money back policy 25 years is a simple money back plan with both Death and Survival Benefits.
- For a Money Back Policy 25 years (Table 93), 15% of the sum assured becomes payable each after 5, 10, 15 and 20 years, and the balance 40% plus the accrued bonus become payable at the 25th year.
- The Main important feature of Money Back Policy 25 years is in the event of death at any time within the policy term, the death claim comprises full sum assured without deducting any of the survival benefit amounts, which have already been paid. Similarly, the bonus is also calculated on the full sum assured.
- Simple Reversionary Bonus is payable on Policy Maturity or on earlier death.
- Optional higher cover through Riders.
Lic Money back policy 25 years Benefits
- Survival Benefit:In case of Life Assured surviving to the end of the specified durations 15% of the Basic Sum Assured at the end of each of 5th, 10th, 15th & 20th policy year.
- Maturity Benefit:In case of Life assured surviving the stipulated date of maturity, 40% of the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable.
- Death Benefit :
- On death during the policy term provided the policy is in full force, death benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where, “Sum Assured on Death” is defined as higher of 125% of the Basic Sum Assured or 10 times of annualized premium. This death benefit shall not be less than 105% of the total premiums paid as on date of death.
- IF the Insured person dies within the Policy Term then Nominee of the Policy will be given Death Benefit(Sum Assured on Death) + Simple Reversionary Bonus + FAB(final additional bonus) if any.
Lic Money Back Policy 25 years Claims
Lic Money Back policy 25 years Maturity Claim:
Sum Assured – Survival Benefits + Simple Reversionary Bonus + FAB(final additional bonus) if any.
Lic money back policy 25 years 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.
Additional Information Related to Money Back Policy 25 years
Lic Money Back Policy Risk Cover:
- Maximum Sum Assured: 1,00,000
- Minimum Sum Assured: No limit.
Lic Money Back Policy Loan:
- Loan facility is available under this plan after the policy acquires paid up value.
- The Loan as a percentage of surrender value shall be as under.
- For inforce/fully paid-up policies-upto 90%.
- For paid up policies upto 80%
Housing Loan Surety: Available
Policy Revival: Policy can be revived before 2 years from date of First Unpaid Premium (FUP).
Riders available: Yes
Proposal Forms: Proposal Form no. 300 or 340 will be used under Lic Money back policy 25 years.
The Lic money back policy 25 years policy can be surrendered at any time during the policy term provided premiums have been paid for full three years.
Lic Money Back Policy 25 years Example
Suppose if kumar taken New Money Back Plan 25 years for 10,00,000 Rs./- for 25 years then if he dies then he will be paid 125% of Basic Sum Assured or 10 times of annual Premium whichever is higher i.e.
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.
Lic New Money Back policy 25 years Tabular premium
Lic Money Back Policy 25 years FAQs
1.What happend if you stop paying the premium?
A.If you stop paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions.
2.If You want to surrender the policy?
A. There is a Guaranteed Surrender Value after 3 policy years
Guaranteed Surrender Value = 30% of all premiums paid – 1st year’s premium
3.Is Loan is available for this policy?
A. Loan facility is not available under this policy
For more information about Lic Money Back Policy 25 Years please click on below link.