Plan No. 920
- LIC's New Money Back Plan offers the Guaranteed pay-outs along with Life cover
- This plan offers guaranteed tax-free 20% of Sum Assured in 5th, 10th & 15th Year of the policy. The premium payment term in this plan is 15 years.
- 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) | 50 Years (Near Birthday) | ||
| Policy Term | 20 Years | |||
| Premium Payment Term | 15 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) | |||
