- LIC’s New Money Back Plan offers the Guaranteed pay-outs along with Life cover
- This plan offers guaranteed tax-free 15% of Sum Assured in 5th, 10th, 15th & 20th Year of the policy. The premium payment term in this plan is 20 years.
- This plan offers the Guaranteed risk cover of 125% of Sum Assured from Day 1
- On Maturity you will get tax-free Guaranteed 40% of Sum Assured along with vested reversionary bonus. LIC declared the bonus every year
- This plan has an option of choosing the Accidental Life cover, Disability Benefit & Critical illness cover.
- This plan also has the option of taking the Maturity proceeds in instalments as the policy-holder can choose the no of year as 5, 10 or 15.
- In a similar way, the policyholder also has the option of choosing the death benefit in instalments.
- LIC also offer the discount in the premium in case the mode of payment is Yearly.
- The loan is also available to the policyholder after the completion of 2 years of the policy
- Settlement option available on Maturity and Death in Installments of 5,10 or 15 Years
How Does This Policy Work
Sample illustration
| Eligibility Criteria |
|
Min. |
Max. |
| Age |
13 Years
(Completed) |
45 Years
(Near Birthday) |
| Policy Term |
25 Years |
| Premium Payment Term |
20 Years |
|
| Basic Sum Assured |
Rs.1 Lac |
No Limit |
| Maximum Maturity Age |
70 Years Completed |
| Rider |
LIC’s NEW CRITICAL ILLNESS BENEFIT RIDER(CIR) |
| Rider |
LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER |
| Rider |
LlC's ACCIDENT BENEFIT RIDER |
| Rider |
LIC's NEW TERM ASSURANCE RIDER (TR) |
