LIC's New Money Back Plan 25 Years

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

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LIC's New Money Back Plan 25 Years Reviews

Page 1 of 50 1 2 3 4 5
  • LIC Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have taken Life Insurance policy through LIC agent.This is a Money back policy and this tenure is for 25 years,I am paying the premium on monthly basis.I am paying Rs.2168 and paying the premium through online only .I have got the policy documents on time .I am really satisfied with the service so far.
    Was this review helpful? 0
    , tirupur
    Reviewed on Oct 14, 2019
  • LIC
    LIC Life Insurance
    "Excellent Policy"
    0.5 5.0/5 "Blown Away!"
    There is no reason for choosing the life insurance policy from LIC. I hold a money back policy because every 5 years, i get the full money back to my account. I have been paying the premium amount of Rs. 1500 every month. I have no idea about the sum assured amount and the policy has a term of 15 years.
    Was this review helpful? 0
    , dindigul
    Reviewed on Oct 14, 2019
  • LIC Life Insurance
    "Better Policy"
    0.5 4.0/5 "Great!"
    My life was insured in Life Insurance Corporation of India. My family members was having a policy with LIC so i'm continuing with the same company. This is a 16 years term policy. This is a money back policy. I have paying the premium amount of Rs. 3600 for every half yearly. I make the premium through online.
    Was this review helpful? 0
    , erode
    Reviewed on Oct 10, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I pay the premium amount of Rs. 36000 on a yearly basis for my life insurance policy. Chosen my life cover policy from LIC because its like a savings plan. I took the money back policy. Total term period of the policy is 5 years and It has a coverage of Rs. 5 lakhs.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 10, 2019
  • LIC Life Insurance
    "Good service"
    0.5 3.0/5 "Satisfactory"
    I have availed for Life Insurance policy directly through Online .This was a Money Back policy and the premium is paid through the agent ,The premium amount is Rs.2000 and i have got all the update about the policy through the agent . There was no drawbacks faced so far .I have got my policy documents on time .
    Was this review helpful? 0
    , bhubaneshwar
    Reviewed on Oct 04, 2019
  • LIC Life Insurance
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    I have taken Life Insurance policy through LIC agent directly .This was a policy which is for the tenure of 25 years and this was a Money Back policy .I am making the premium payment through the agent directly.I have got all the details about the policy through the agent very clearly.
    Was this review helpful? 0
    , burdwan
    Reviewed on Oct 04, 2019
  • LIC Life Insurance
    "Good policy"
    0.5 4.0/5 "Great!"
    I am holding the money back policy from Life Insurance Corporation of India. For the best company, hence i have chosen the same. Its a Government based company and they will send so much reminder hence the policy won't get lapsed. I have been paying the premium amount of Rs. 3200 on a quarterly basis.
    Was this review helpful? 0
    , kolkata
    Reviewed on Oct 04, 2019
  • LIC Life Insurance
    "Excellent"
    0.5 4.5/5 "Excellent!"
    I have taken life insurance policies for future savings. Its a money back policy, every 5years once am receiving the benefits from LIC. The total tenure is 25 years and got the insurance paper on time. The payment mode is online and the premium was around 8K per quarterly.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Sep 30, 2019
  • LIC Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    I have taken 2 to 3 policies with LIC, its very good. They are giving good response time to time. I have endowment policy, money back policy and don't remember the one more policy. I am paying premium of monthly 1000 rupees through ECS since it was started very long 20 years ago. The benefits are very good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Sep 24, 2019
  • LIC Life Insurance
    "Okay Policy"
    0.5 3.0/5 "Satisfactory"
    Purchased the money back policy from LIC. I bought the policy in the year of 2011 because that time it was a best policy. My agent has compelled me to taken the policy. I have been paying the premium amount of Rs. 610 every month. Total term period of the policy 20 years since its a moneyback policy, i get the money of Rs. 20000 every 5 years,
    Was this review helpful? 0
    , chennai
    Reviewed on Sep 22, 2019
  • LIC Life Insurance
    "They were trustful"
    0.5 5.0/5 "Blown Away!"
    I have 2insurances with LIC and am satisfied with the benefits what they are offering. The services are very transparent. I have taken a money back policy and other one is long term called Jeevan Anand of 15 years. I don't have any difficulty with the payment option. Am getting bonus every 4years once from money back plan.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Sep 18, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Claims are better in LIC. Earlier i had a money back policy and its money savings and tax benefits policy. I have chosen the monthly payment mode. When my policy got over but from ECS my money is automatically deducted to LIC account, they themselvves resolves this issue even though i have not given any request to stop the payment.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Sep 07, 2019
  • LIC Life Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in LIC on 2 years before. The policy is for 16 years and it is a money back policy. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details. I use to pay by my credit card. It covers my whole family.
    Was this review helpful? 1
    , coimbatore
    Reviewed on Aug 30, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have bought the policies and did all the transaction through agent who is available for us always. My father purchased the policy in my childhood. The agent convinced in taking the policy from LIC. We have a annuity, endowment and term, money back policy. I have no idea about the premium amount.
    Was this review helpful? 0
    , chennai
    Reviewed on Aug 26, 2019
  • LIC Life Insurance
    "We can rely on LIC"
    0.5 5.0/5 "Blown Away!"
    Its because of the Government company and my father is working as a LIC agent hence i bought the policy from LIC. I have chosen the money back policy and i got the money back to my account 1 times. All my policies are around 3 to 4 years except one policy. I make the premium through online and ECS.
    Was this review helpful? 0
    , lucknow
    Reviewed on Aug 19, 2019
  • LIC Life Insurance
    "Need to decrease charges"
    0.5 5.0/5 "Blown Away!"
    I have taken a life insurance in LIC on 4 years before. The policy is for 25 years and it is money back policy. I am paying premium in the quarterly package. While getting a policy my agent has given an information about the policy details. I use to do payment through an online or cheque to agent.
    Was this review helpful? 0
    , pune
    Reviewed on Aug 16, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 3.0/5 "Satisfactory"
    I have taken a life insurance in LIC on 3 years before. The policy is get maturity after 15 years and it is money back policy. Now I am paying premium in the half yearly package. While getting a policy my agent has given an information about the policy details. I use to give an amount to an agent.
    Was this review helpful? 0
    , mumbai
    Reviewed on Aug 11, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC on 4 years before. The policy is for 20 years and it is a money back policy. While getting a policy my agent has given an information about the policy details. I use to do payment for a premium on a yearly basis either by cheque or amount to an agent. It covers up to myself.
    Was this review helpful? 0
    , jamshedpur
    Reviewed on Aug 11, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 4.0/5 "Great!"
    I have taken a life insurance in LIC on 5 years before. The policy is for 30 years.While getting a policy my agent has given an information about the policy details. It is a money back policy. I use to do payment for a premium on a yearly basis. It is a money back policy. It covers my whole family.
    Was this review helpful? 0
    , jamshedpur
    Reviewed on Aug 11, 2019
  • LIC Life Insurance
    "Good insurer"
    0.5 5.0/5 "Blown Away!"
    I have opted a life insurance in LIC on 10 years before. The policy is for 20 years and it is money back policy. I am paying premium in the yearly package. While getting a policy my agent has given an information about the policy details. I use to do payment through an online.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Aug 10, 2019
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