LIC Insurance Plan - Money Back 20 Years (Plan No. 820)

By Krunal -

LIC's New Money Back Plan-20 years is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term.

• Minimum Basic Sum Assured: Rs. 1,00,000/- 

• Maximum Basic Sum Assured: No Limit 

• Policy Term: 20 years 

• Premium Paying Term: 15 years 

• Minimum Entry Age: 13 years (completed) 

• Maximum Entry Age: 50 years (nearer birthday) 

• Maximum Age at Maturity for Life Assured: 70 years 

• Mode of Premium Payment: Yearly, half-yearly, quarterly & monthly 

• Accidental Death & Disability Benefit Rider is available on payment of additional premium. 

LIC's New Money Back 20Years Benefit Details

• On Death: "Sum Assured + Vested Bonus + FAB if any." 

• Where 'S.A. on Death' is defined as the higher of 
i. 10 times of Anualized Premium, OR 
ii. 105%of all Premiums paid as on death OR
iii. 125% of Basic Sum Assured. 

• The premiums exclude taxes, extra premium and rider premiums.

• On Survival : 20% of Basic SA is payable after 5th, 10th and 15th year of policy. • Maturity Time 40% of Basic Sum Assured + Vested Bonus + FAB if any.

• Surrendered Value: The Policy can be surrendered at any time during the policy term provided atleast 3 full years premiums have been paid.

• Loan : Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.

• Income Tax Benefit: Premium paid under this plan is eligible for TAX rebate under section 80c.
 • Maturity under this plan is free under sec 10(10D).

 For more details, Visit http://licallinonecalc.com/

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