LIC Money Back Plan 821 (25 years) – Risk Coverage 125% of Basic Sum Assured

LIC Money Back Plan 25 years is a almost similar kind of plan like LIC Money Back Plan 20 years from Lic of India. This is a typical non-linked lic policy which will provide guaranteed returns with bonus according to lic of India. Premium in this plan needs to be paid for a period of 20 years while the policy continues for 25 years. Policy can be taken for anyone between 13 to 45 years of age for a fixed tenure of 25 years. In this page we will be collecting and sharing every details about this plan like LIC Money Back Plan key features & highlights, LIC Money Back Plan benefits, LIC Money Back Plan calculator & return, LIC Money Back Plan maturity benefits and many such details.

LIC new Money Back Plan review

Key Features of LIC New Money Back Plan – 25 Years

  • It’s a typical lic Money Back Plan for a tenure of 25 years
  • After every fixed tenure, 15% of Sum Assured is paid. The money back periods are at the end of 5th, 10th 15th and 20th Year as Survival Benefit
  • In case of death or maturity, a bonus amount will be paid as per policy terms.
  • Large Sum Assured is available in this plan and insurer will get rebate for higher sum assured value.
  • The premium payment duration is up to 20 years only.
  • LIC’ s Accidental Death and Disability Benefit Rider is available

Eligibility Conditions and Other Restrictions for Money Back Plan for 25 years:

For Basic plan

Minimum Basic Sum Assured : Rs. 100,000

Maximum Basic Sum Assured : No Limit (The Basic Sum Assured shall be in multiples of Rs. 5000/-)

Minimum Age at entry for Life Assured : 13 years (completed)

Maximum Age at entry for Life Assured : 45 years (nearest birthday)

Maximum Maturity Age for Life Assured : 70 years (nearest birthday)

Policy Term : 25 years

Premium paying term : 20 years

LIC Money Back Plan Accidental Death and Disability Benefit Rider

Minimum Accident Benefit Sum Assured : Rs. 100,000

Maximum Accident Benefit Sum Assured : An amount equal to the Sum Assured under the Basic Plan subject to the maximum of Rs.50 lakh Accident Benefit Sum Assured taking all existing policies of the Life Assured under individual as well as group schemes including policies with in-built accident benefit taken with Life Insurance Corporation of India and the Accident Benefit Sum Assured under the new proposal into consideration.

(The Accident Benefit Sum Assured shall be in multiples of Rs. 5000/-)

Minimum Age at entry for Life Assured : 18 years (completed)

Maximum Age at entry for Life Assured : The cover can be opted for at any policy anniversary during the premium paying term.

Maximum cover ceasing age : 70 years (nearest birthday)

Benefits of LIC New Money Back Plan – 25 Years

Death Benefit – As per typical lic policy rules, in case of unfortunate death nominee will get sum assured value + vested bonus amount as per policy term as death benefit. The Sum Assured on Death has been defined as higher of 125% of Basic Sum Assured or 10 times the Annualized Premium subject to a minimum of 105% of all Premiums paid.

Survival Benefit – In case you survive till the policy end period, you might have received all the promised money back installments and then the remaining money back amount + bonus if any will be provided as maturity benefit.

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.

Income Tax Benefit – The premium paid can be income tax exempted under section 80C. The Maturity Benefit is also tax free under section 10(10)D subject to fulfilment of all terms and conditions.

Loan Facility:  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.

Surrender Value:

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 Plan for 25 Years Premium Calculator

Simply visit lic of India official website and loo for the lic online premium calculators segment where you will find respective calculators to know how much premium is necessary for a fixed sum assured value.

For more details about this policy, please visit LIC Money back plan for 25 years official page.

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