• 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)

    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's New Money Back Plan 25 Years Reviews

  • Page 1 of 45 1 2 3 4 5
    • LIC Life Insurance
      "Good investment"
      0.5 5.0/5 "Blown Away!"
      I have taken a Money back policy in LIC, in which every 5 years I will be getting Cashback and also at the end of stint I will be getting a lumpsome amount. I have been paying Rs.25000 as an annual premium for this Insurance. They provide Loan on the basis of this Insurance. I have making my repayment for this Insurance using cheque mode.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 16, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 10 years and it is a money back policy. The tenure of this policy is 15 years and i get a money back after every 5 years. I pay my premium on annual basis through net banking and i am convenient with the payment options. I am happy with the coverage and benefits of this policy.
      Was this review helpful? 0
      , faridabad
      Reviewed on Feb 14, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 3.0/5 "Satisfactory"
      I hold a life insurance policy with LIC from last 7 years and it is a money back policy. The tenure of this policy is 25 years and i get a money back after every 5 years. I pay my premium once in 3 months by cheque and i am convenient with the payment options. I have a coverage of Rs 2.5 lakhs which is less when compared to other insurance.
      Was this review helpful? 0
      , surat
      Reviewed on Feb 12, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 16 years and it is a money back policy. The tenure of this life insurance policy is 20 years. I pay my premium once in 6 months by cash and sometimes by cheque. I am convenient with the payment options in this policy. I am happy with the coverage and benefits of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 12, 2018
    • LIC Life Insurance
      "Better money back plan"
      0.5 4.0/5 "Great!"
      I have the Money back life insurance policy with the LIC from past 8 years. This money back policy has the tenure of 16years. Every 4 years once I will be getting the money back amount from the LIC money back policy. The customer support is good with the LIC.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 06, 2018
    • LIC Life Insurance
      "Better policy to use"
      0.5 5.0/5 "Blown Away!"
      The Money back policy is good to use with the LIC and I have the money policy for past 12 years. This policy has tenure of 20years. The premium amount of Rs,3200 I pay to this money back policy . This policy will get matured in the coming year. The plan benefits and the coverage is good with this policy.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 06, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 6 years and it is a money back policy. The tenure of this life insurance policy is 15 years and i get a money back after 10 years. I pay a premium of Rs 1500 once in 3 months and i am convenient the payment options. I am happy with the coverage and benefits of this policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Feb 02, 2018
    • LIC Life Insurance
      "Better money back plan"
      0.5 3.0/5 "Satisfactory"
      Bought a money back policy from LIC around 5 years. Here this policy has the tenure of 19yeas. The customer support is good with the LIC. I pay the premium amount of Rs,2000 to this policy and I would say it is a good policy to use , because it gives money back on every 4 years once.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Feb 01, 2018
    • LIC Life Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken Life insurance with LIC.The policy is for 10 years i am holding the policy for the last ten years of time.I pay a premium amount of 13k pr annum,net banking is very comfortable to make payments.They give good response to the customers.The plan name id money back policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 01, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I hold a life insurance policy with LIC from last 15-16 years and it is a money back policy. The tenure of this life insurance policy is 20 years and i get a money back after every 5 years. I pay my premium on annual basis through net banking and the payment options are convenient for me. The coverage and benefits are also good in this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 30, 2018
    • LIC Life Insurance
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Got the money back life insurance policy for past 15 years. The customer support is good with the LIC . This policy has the tenure of 20years. I pay the premium of Rs,1200 every month to this LIC money back policy. The plan benefits and the coverage is excellent with this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 29, 2018
    • LIC Life Insurance
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have the Money back policy from LIC for past 3 years. I pay the premium of Rs,1500 in every 3 months once. The customer support service is good with the LIC. The plan benefits and the policy coverage is good with this policy .I would say it is an average policy to use
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 25, 2018
    • LIC Life Insurance
      "Looking for better benefits"
      0.5 3.0/5 "Satisfactory"
      I would say LIC is more beneficial compared to other insurance company. Every year I pay the premium around Rs.47,000, I have money back policy. I have activated this policy in 2014, I will be getting bonus interest around Rs.1.5 lakh after five years and I get maturity benefits around Rs. 6 lakhs after completing the tenure of 15 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 24, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 5-6 years and it is a money back policy. The tenure of this life insurance policy is 20 years and i get a money back every 5 years. I pay my premium on annual basis by cheque and I am also convenient with the payment options which they are giving. The coverage and benefits are very good in this policy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jan 23, 2018
    • LIC Life Insurance
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      Basically my uncle working as a LIC agent, I believe its trust worthy I used to paid Rs 40,000 in a year as a premium. I have money back policy every year they are providing bonus interest its credits is account and other policies provides return after the maturity . Even the payment gateway is very easy to pay.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 23, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 8 years and it is a money back policy The tenure of this loan is 15 years and i get a money back after every 5 years. I pay my premium once in 6 months by cheque and the name of the insurance is Jeevan umang. The coverage and benefits are very good in this policy.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jan 22, 2018
    • LIC Life Insurance
      "Best policy to use"
      0.5 5.0/5 "Blown Away!"
      I have a LIC policy from last 10-12 years and it is a money back policy. The tenure of this life insurance policy is 20 years. I pay my premium on variable basis and i am convenient with the payment options which they are giving. I get a money back after every 4 years. The coverage and benefits are good in this policy.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jan 22, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I hold a life insurance policy with LIC from last 1 year and it is a money back policy. The tenure of this life insurance policy is 20 years. I pay a premium of Rs 7000 once in 3 months through online and i get a money back of Rs 60000 every 4 years up to 15 years. I am happy with the coverage and benefits of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 19, 2018
    • LIC Life Insurance
      "Excellent policy to use"
      0.5 5.0/5 "Blown Away!"
      I have got the money back policy around 10 years ago from LIC. This policy has the term of 15years. I get the cash back in every 4 years once. The customer support is good with LIC. The premium amount of Rs,990 and 1230 I pay to this policy in every 3 months once.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 12, 2018
    • LIC Life Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a life insurance with LIC.The monthly premium is 22,000 i have registered for an auto debit made from my salaried account,i get a total policy coverage is up to four lakhs.The website is easy and quick in processing.I have taken two policies one is money back policy so after 5 years they had given a cheque of 10k.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 12, 2018
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