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LIC's New Money Back Plan 25 Years

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LIC's New Money Back Plan-25 years is a life insurance policy which is a participating non-linked plan. This plan offers an economically palatable combination of cover and protection against death like any other life insurance policy throughout the term. But it also has the added advantage of periodic payments on survival at certain specific time lapses during the term. This combination allows policyholders to enjoy financial support for the family in case of the policy owner’s death any time before the maturity date and lump sum amount when the policy matures for the surviving policyholders. This LIC plan looks to meet the liquidity needs through the loan facility available at the same time.

Eligibility Criterias for LIC's New Money Back Plan-25 years

The following are the basic and the most important eligibility criterion to apply for this plan:

Minimum entry age 13 years
Maximum entry age 45 years.
Minimum age at maturity Not applicable
Maximum age at maturity 70 years.

Other Requirements:

  1. Policyholder has to do the following:
  2. Fill up an ‘Application form/ proposal form’
  3. Accurate medical history
  4. Address proof
  5. Other KYC documents.
  6. Medical examination may be required depending on the sum assured and the age of the applicant.

Key Features of LIC's New Money Back Plan-25 years

Plan type Non-participating traditional life insurance plan with guaranteed benefits.
Plan basis Individual
Premium paying terms 20 years.
Policy term 25 years.
Death benefits In the unfortunate event of the policy holder’s untimely demise during the policy tenure the Sum Assured on Death along with the accrued Bonuses would be payable to the claimant or nominee regardless of the amounts paid earlier as the survival benefit. Sum Assured on Death will be the higher amounts of of the following:
  • 125% of the Basic Sum Assured which was selected at the time of the policy initiation.
  • 10 x annualized premium that has already been paid
Note that the amounts have to be a minimum of 105% of the total premiums paid as on date of death.
Maturity benefits The policyholder will receive some maturity benefits as well. This will included the remaining amount which is 40% of the Basic Sum Assured as well as the accrued bonuses. Henceforth, the policy terminates.
Survival benefits This policy comes with great survival benefits which are paid in the following way:
  • 15% of the Sum Assured is paid at the end of the 5th Policy Year
  • 15% of the Sum Assured is paid at the end of the 10th Policy Year
  • 15% of the Sum Assured is paid at the end of the 15th Policy Year
  • 15% of the Sum Assured is paid at the end of the 20th Policy Year
A total of 60% of the maturity sum assured is paid out, as survival benefit.
Premium payment frequency Monthly, quarterly, half-yearly and annually
No Medicals The plan might require medicals based on LIC’s discretion or by simply answering a few questions.
Free-look period 15 days for manually purchased policy
Grace period

15 days for monthly mode polices

30 days for yearly, half-yearly and quarterly mode policies.

Alterations The policy allows alteration of premium paying frequency.
Nomination Nomination is accepted under this policy.
Sum Assured

Minimum: Rs. 1 lakh.

Maximum: There is no limit. (But has to be in the multiples of Rs. 5000.)

Policy coverage Death benefits, maturity benefits as well as survival benefits.
Loan Under Policy Loan can be taken under the policy on the condition that the policy has acquired a specific surrender value and it is also subject to the terms and conditions which may change from time to time on this respect.
Grace period 30 days is allowed as grace period
Policy revival The policy can revived within 2 years from the date of 1st premium missed.
Surrender Benefit Available

Benefits and Advantages of LIC's New Money Back Plan-25 years

The following are the main features and benefits of the LIC's New Money Back Plan-25 years:

Death Benefits:In the unfortunate event of the policy holder’s untimely demise during the policy tenure the Sum Assured on Death along with the accrued Bonuses would be payable to the claimant or nominee regardless of the amounts paid earlier as the survival benefit. Sum Assured on Death will be the higher amounts of of the following:

  • 125% of the Basic Sum Assured which was selected at the time of the policy initiation.
  • 10 x annualized premium that has already been paid

Note that the amounts have to be a minimum of 105% of the total premiums paid as on date of death.

Survival Benefits: This policy comes with great survival benefits which are paid in the following way:

  • 15% of the Sum Assured is paid at the end of the 5th Policy Year
  • 15% of the Sum Assured is paid at the end of the 10th Policy Year
  • 15% of the Sum Assured is paid at the end of the 15th Policy Year
  • 15% of the Sum Assured is paid at the end of the 20th Policy Year

A total of 60% of the maturity sum assured is paid out, as survival benefit.

Maturity Benefits: The policyholder will receive some maturity benefits as well. This will included the remaining amount which is 40% of the Basic Sum Assured as well as the accrued bonuses. Henceforth, the policy terminates.

Tax Benefits: The premium amounts are exempted under the Section 80C of the Income Tax Act. However, service tax is applicable.

Loan Under Policy: You can take a loan under the policy on the condition that the policy has acquired a specific surrender value and it is also subject to the terms and conditions which may change from time to time on this respect.

Bonuses: Since this is a participating plan the company as well as the policy accrues Simple Reversionary Bonuses as well as Final Additional Bonus.

How The LIC's New Money Back Plan-25 years Works

You get the death benefits amount under the circumstances that the policy holder’s death occurs within the policy term. The paid amount to the nominee is given regardless the premiums paid. However, if start getting paid periodically after the 10 th year of the policy term. If you survive the whole term which is 25 years, you get the rest 40% of the maturity amount assured to you. So, this is a win win situation for the policyholder, financially. You also get other accrued bonuses since this is a participating non linked plan.

Premium Payable for LIC's New Money Back Plan-25 years

The following should give you the basic idea about the premiums payable for this policy:

The annual premium is mentioned in Rupees. Basic Premium is mentioned below (Tax (such as service taxes) amount is not included):

Age Rs 5 Lakhs Sum Assured Rs 10 Lakhs Sum Assured
20 Years 27900 55800
30 Years 28611 57221
40 Years 30815 61631

Riders Available for LIC's New Money Back Plan-25 years

LIC’s Accidental Death and Disability Benefit Rider

  • Minimum Accident Benefit Sum Assured : Rs. 1 lakh
  • Maximum Accident Benefit Sum Assured : An amount equal to the Sum Assured under the Basic Plan subject to the maximum of Rs.50 lakh
  • (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)

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

LIC's New Money Back Plan 25 Years Reviews

Page 1 of 46 1 2 3 4 5
  • LIC Life Insurance
    "Good to have"
    0.5 3.0/5 "Satisfactory"
    I have invested a money back policy from Life insurance Corporation of India. I took this policy in the year of 2003. Total tenure period of the policy is 20 years. I have been paying the premium amount of Rs. 100000 per annum. Three times i have received a money back in my account. I have not faced any issue in this policy.
    Was this review helpful? 0
    , indore
    Reviewed on Jan 20, 2019
  • LIC Life Insurance
    "Good for future investment"
    0.5 4.0/5 "Great!"
    I don't have any query with Money back policy from LIC, they has all the option through online hence I can visit any branch for LIC queries. I get the bulk amount after 20 years , its good for my daughter marriage or education. therefore I make Rs.30,000 per annum.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 3.0/5 "Satisfactory"
    I have money back policy policy with LIC, it has premium of Rs. 10,000 per annum. It gives the maturity benefits after 20 years of the tenure period, I used to get the bonus amount around Rs. 40,000 for every five years it has the tax benefits too.
    Was this review helpful? 1
    , malda
    Reviewed on Jan 10, 2019
  • LIC Life Insurance
    "Better to invest"
    0.5 5.0/5 "Blown Away!"
    I have a money back policy from LIC which was taken before 10 years through an agent. Every 4 years once they are providing good benefits like bonus points. The agent was very helpful. I got the insurance paper. I am paying the premium every quarterly 1000 rupees through online.
    Was this review helpful? 1
    , pondicherry
    Reviewed on Jan 09, 2019
  • LIC Life Insurance
    "Good Bonus Policy"
    0.5 4.0/5 "Great!"
    LIC is national insurance company and it has the good reputation. I have taken the policy called money back policy, it has maturity period around 15 to 20 years, I used to get bonus amount every 3 years or 5 years, they have tax benefits and other facilities.
    Was this review helpful? 1
    , thrissur
    Reviewed on Jan 09, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I felt the payment option has some difficulties in LIC, they taking lot of time for the payment update, I have policy money back policy it has tenure period around 15 years, the premium amount is Rs. 1500 on quarterly basis, after 5 years they give some bonus interest.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 07, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I took this Life insurance Money back policy from Lic insurance company mainly , Its been always safer side as this insurance company belongs to govt . I make the payment through online banking where the amounts get auto debited . I have taken this policy for good returns where i can claim every 5 years.
    Was this review helpful? 1
    , new delhi
    Reviewed on Jan 03, 2019
  • LIC Life Insurance
    "Nice policy"
    0.5 5.0/5 "Blown Away!"
    My money back policy was purchased with Life Insurance Corporation of India. 10 years back, i have taken this policy. I pay the premium amount of Rs. 656 by every month. My premium has been deducted from my salary. This is policy expires on 2035. This is tax benefit policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 03, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my life insurance with Life insurance corporation of India since from 2010, i have taken multiple policy from this institution , this policy name is money back policy, like in certain period of time i will be getting my money back, and the premium amount they have charged me was nominal,they charged me on quarterly basis, and the agent had clearly explain me about the policy and benefit coverage.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 02, 2019
  • LIC Life Insurance
    "Good policy to use"
    0.5 5.0/5 "Blown Away!"
    My money back policy was taken in 2012. They have stopped the money back policy now. I have been paying the premium amount of Rs. 1600 in every quarter. Twice i have received the money back to my account. The amount which i have received is a satisfied one. This is a tax benefit policy.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Dec 29, 2018
  • LIC Life Insurance
    "EXCELLENT"
    0.5 5.0/5 "Blown Away!"
    I have taken the life insurance policy with the LIFE INSURANCE CORPORATION OF INDIA and i am using it from past 20 years as i am using the MONEY BACK policy with this policy. The maturity period for this policy is for 20 years. It has the good benefits with this policy.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 21, 2018
  • LIC Life Insurance
    "Good trust in LIC"
    0.5 4.0/5 "Great!"
    I bought the policy in 2004 since I'm an agent hence i have taken my money back policy with LIC. Tenure period of the policy 30 years and i will make the payment on branch which is nearby my place. They are good in returns hence i have selected the insurance in Life Insurance Corporation of India.
    Was this review helpful? 0
    , bangalore
    Reviewed on Dec 21, 2018
  • LIC Life Insurance
    "Best policy"
    0.5 5.0/5 "Blown Away!"
    I am having a life insurance policy with LIC since 1995 and i hold a money back policy. The maturity period for this insurance policy is 15-20 years. I get a money back of Rs 20000 every 5 years. I make payments through ecs and i am convenient with the payment options.
    Was this review helpful? 0
    , bhubaneshwar
    Reviewed on Dec 20, 2018
  • LIC Life Insurance
    "Good bonus before maturity"
    0.5 5.0/5 "Blown Away!"
    In money back policy they give the bonus interest around certain period and also I will get some benefits after the maturity period it has the term of 21 years. LIC policies gives the tax benefits and financial security for natural death and accidental death.
    Was this review helpful? 0
    , chandigarh
    Reviewed on Dec 18, 2018
  • LIC Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    I took this Life insurance Money back policy from Lic insurance company mainly , Its been always safer side as this insurance company belongs to govt . I make the payment through online banking where the amounts get auto debited . I have taken this policy for good returns where i can claim every 5 years.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Dec 16, 2018
  • LIC Life Insurance
    "Best policy in LIC"
    0.5 5.0/5 "Blown Away!"
    My money back policy was taken with LIFE INSURANCE OF INDIA. I pay the premium amount of Rs. 5000 in a month. I have selected LIC because of the returns. I make the premium through ECS. Total tenure period of the policy is 25 years. My friend has referred me about this policy
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Useful policy"
    0.5 4.0/5 "Great!"
    In the month of February, i have purchased a money back policy from Life Insurance corporation of India. I pay the premium amount of Rs. 15000. Last time i have paid the payment through cheque and in future i make through online. One of sister who is working as a LIC agent has referred this policy.
    Was this review helpful? 1
    , bangalore
    Reviewed on Dec 14, 2018
  • LIC Life Insurance
    "Educational purpose policy"
    0.5 4.5/5 "Excellent!"
    Recently i have purchased the money back policy like 2 years ago from LIC. I am paying the premium amount of Rs. 9000 and i used to make the premium through online. Total tenure period of the policy is 15 years. Recommendable policy for every one.
    Was this review helpful? 0
    , kolkata
    Reviewed on Dec 13, 2018
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with Life insurance corporation of India, i have taken money back policy for my kids, i use to pay my premium on monthly basis , they have charged me up to 1000 rupees ,i use to pay through on line , the agent had explain me clearly about there policy coverage.
    Was this review helpful? 0
    , hosur
    Reviewed on Dec 08, 2018
  • LIC Life Insurance
    "Trustable company"
    0.5 5.0/5 "Blown Away!"
    LIC is a very safe and secure place for life insurance policies. I will get a money back on my account or i will get cheque. There are so many people are available as an agent here. I have never interacted with the customer care service since i never required it. I can make the payment in a multiple way like paytm, online banking, cash. More than 6 years before, i have purchased this money back policy. I have received a money back to my account. Surety is a must when it comes to LIC.
    Was this review helpful? 0
    , new delhi
    Reviewed on Dec 02, 2018
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