• LIC Policy with Money Back

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    Plan Benefits

    Payment Options

    Policy Coverage

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    What is LIC money back policy?

    LIC or Life Insurance Corporation India is one of the biggest providers of life insurance policies in India. The bank is known for its innovative life insurance policies and high claim settlement ratio. LIC money back policy is one among the many kinds of life insurance policies offered by the bank.

    LIC money back policy is a life insurance policy that offers life cover during term of the policy and the maturity benefit is paid in installments through survival benefits every 5 years. There are different schemes with different terms under this plan. Most of the schemes under this plan offer optional riders along with tax benefits.

    LIC Money Back Policy Comparison Chart

     

    Survival benefit

    Maturity benefit

    Surrender benefit

    Participation in profit

    Optional riders

    Tax benefits

    LIC’s New Money Back plan- 20 years

    Yes

    Yes

    Yes

    Available

    Accidental death and disability benefit

    Yes

    LIC’s New Money Back plan- 25 years

    Yes

    Yes

    Yes

    Available

    Accidental death and disability benefit

    Yes

    LIC’s New Bima Bachat

    Yes

    Yes

    Yes

    Available

    Offers loyalty benefit

    Yes

    LIC’s New Children Money Back Plan

    Yes

    Yes

    Yes

    Available

    LIC’s premium waiver benefit rider and option to defer survival benefit

    Yes

    LIC’s Jeevan Tarun

    Yes

    Yes

    Yes

    Available

    Accidental death and disability benefit

    Yes

    LIC Money Back Plans

    Listed below are the money back plans offered by LIC

    1. LIC’s New Money Back plan- 20 years: This insurance plan is a participating non-linked plan that offers protection against death along with periodic payment on survival at specified durations during the term. The plan also takes care of liquidity needs through its loan facility. The policy is for 20 years. The policy shall participate in profits of the Corporation and shall be entitled to receive Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.
    2. LIC’s New Money Back plan- 25 years: It is a non linked participating money back plan which offers financial protection before maturity and lump sum amount of money at the time of maturity. The policy participates in profits of the corporation and is entitled to avail bonuses as per the policy. The policy comes for a term of 25 years and also offers the optional Accidental death benefit. The policy offers tax benefits under section 80D of the Income Tax Act, 1961.
    3. LIC’s New Bima Bachat: LIC’s New Bima Bachat is a participating insurance policy that offers financial protection with a wide range of benefits. Death benefit is paid as sum assured on death, vested simple reversionary bonuses and final bonus if any. The policy also offers bonuses by participating in profits. The plan offers loyalty addition which is payable on death after completion of five years of the policy and on the survival of policyholder at maturity of the plan.
    4. LIC’s New Children Money Back Plan: It is a money back insurance plan designed to offer financial protection along with financial benefits for your children. The policy offers survival, death and maturity benefit. The policy also offers the option to defer survival benefit rider and LIC’s premium waiver benefit.
    5. LIC’s Jeevan Tarun: It is a limited premium insurance plan which offers financial protection along with a savings plan for the children. The plan is designed to meet the educational needs and other financial needs of children through annual survival benefit payments. The policyholder can choose from 4 different options offered by the plan. The plan also offers optional riders.

    LIC Money Back Plans Features

    Listed below are the features of LIC Money Back Plan.

    • It is a participating non-linked life insurance plan
    • Offers financial protection along with additional bonus with the participation in profit feature
    • The plans offers high tenures
    • Can be purchased online
    • Offers Death benefit
    • Offers Survival benefit
    • Offers Maturity benefit
    • Offers additional bonuses in the form of Participation of profits
    • Offers optional rider in the form of accidental death cover benefit and disability benefit
    • Some of the plans offer loyalty benefit

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    LIC Money Back Plans Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Trusted Policy"
      0.5 3.0/5 "Satisfactory"
      I do online payment for this LIC policy. Good life secured policy. I found LIC is trustworthy to invest. I've been holding this policy more than 8 years. Risk coverage policy. Accidental and death benefitable policy. I used to pay the premium of Rs. 5000 every month. Its a life time policy. After 60 years it will get matured. I will get a sum assured amount of Rs. 10 lakhs
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I am using the life insurance policy from the LIC for which I am paying a premium of almost 1 lac. Their services are good and never faced any issues so far. The payment options are also nice with the LIC. Being a Govt company the security for investment is certainly there with the LIC,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've been using the LIC Bharti Jeevan Policy for a while. I pay a premium of 21000 per year. I make payments Via Cheque.. The service is good. No issues so far. The tenure of the policy is 15 years. Overall it has been a hassle free experience with the LIC and their services.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a life insurance policy with the LIC. I am paying the premium 11000, per year. The service good. It is so easy to make payments for this policy. I never faced any issues with their services. Being a govt company the security for my investment is guaranteed with the LIC.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the LIC Jeevan Tarang Policy for a while. It is take for my children. The tenure of the policy is 18 years. It can also be converted to a pension scheme where my children will be getting 28000 per year as a part of the plan. It is a useful policy and recommendable.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the LIC Bhima Gold Money back policy for a while now. I will get cash back every 5 years via DD. I pay a premium of 700 monthly for this policy. It is a very useful policy considering the low premium I pay. Overall it has been a good experience with the LIC and their services.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a Jeevan Anand policy with the LIC. I am paying the premium of 500 per month. It is too easy to make payments and I never faced any issues with their services. Being a govt company the security is there with the LIC Overall it has been a good experience .
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Better policy to use"
      0.5 5.0/5 "Blown Away!"
      I got the life insurance policy long back. This policy has the tenure of 20years. The plan benefits and the coverage is good with this policy . I would say i am satisfied having the Life insurance policy with Life Insurance Corporation of India.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Wonderful"
      0.5 3.5/5 "Pretty good"
      I am having the life insurance policy with the LIC of India. I would like to say that the customer service is good one and the response is better one too. Policy coverage value is good too with them. I am happy with the LIC of India.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I am having the Life Insurance policy with the Life Insurance Corporation of India. I would like to say that the customer service is also very good too and the response is good too. Coverage value is fine one too with the LIC of India.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Best"
      0.5 4.5/5 "Excellent!"
      Customer service is not experience with the Life Insurance Corporation of India, Policy coverage is good and I have taken two policy with the Life Insurance Corporation of India. Everything is better one with them till now.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "LIC is a very good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken this LIC Jeevan Tarang policy 10 years before. I don't remember about the plans and benefits. I'm paying the premium amount of rs. 10000 six months once. I will come to know about the benefits when the maturity arrives. Total tenure of the policy is 12 years. Sum assured amount is 8 lakhs. Death benefits, Risk coverage and Accidental benefits are available. I used to make the payment through cash. My brother working as LIC agent and he suggested this policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken life insurance from LIFE INSURANCE CORPORATION OF INDIA and the yearly premium is 30000. The total maturity period is for 20 years. After the maturity period i will get the sum assured and the interest. I mostly do cash payment.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 14 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 3 months by cash and i am convenient with the payment options. The maturity period for this policy is after 23 years.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India. I would like to say that the customer service is fine one for me and the response is also good, also its not necessary. Plan benefits are less with them.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I took this life insurance jeevan policy from Lic insurance company mainly because of the good returns. The tenure period is 20 where the policy covers till 60 years . Am doing my payment yearly through on-line banking this policy covers accidental benefits and critical illnesses .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I took life insurance jeevan policy from Lic insurance company mainly because of the good returns, its 20 years of tenure period , the payment am doing through on-line monthly . There customer service and customer response is good .This policy covers accidental and critical illness coverage .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance Money back policy from Life insurance Corporation of India. Am satisfied with the premium amount of Rs 7000 which has the tenure period of 20 years . There customer service and response is good. Overall am satisfied with the policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the LIC. It offers Accidental and Life coverage in one policy . I pay a premium of Premium 4900 per year. I make payments via Cheque and online LIC website. I never faced any issue with the policy so far. Overall ti has been a good experience with their services.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've an insurance policy with the LIC. I make payments via the LIC website . I also got loans out of the policy for 60000 and the whole process of loan application was quick and got the loan amount with in 3 working days. Overall it has been a smooth experience with the LIC policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
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