Lic Money Back Policy 25 Years | Review, Features, Benefits, Rebates

Lic Money Back Policy 25 Years (Plan no 821) Review

Lic Money Back Policy 25 Years is a non-linked life insurance policy which offers guaranteed returns and bonus. In New Money Back Policy – 25 years, Premium needs to be paid for a period of 20 years while the policy continues for 25 years. Policy can be taken by anyone between the age of 13 to 45 years for a fixed tenure of 25 years.

In lic new money back plan 25 years (Plan no 821) 15% of the Sum Assured is paid to the Life Insured on survival at the end of every 5 years and the remaining 40% of the Sum Assured along with Vested Simple Reversionary Bonus + Final Addition Bonus would be paid to the Life Insured on survival till the end of the Policy Tenure as Maturity Benefit.

New Money Back Policy – 25 years Features

1. LIC released “Lic Money Back Policy 25 Years (T821)” on 6^th January, 2014 as per new guidelines of IRDA.
2. In New Money Back Plan 25 years Service tax is added which is 3.09%.
3. New Money Back Plan 25 years is a type of Endowment Plan where some percentage of Sum Assured will be paid back to the policyholder in the form of survival benefit periodically.
4. New Money Back Plan 25 years participate in Profits and non-linked.
5. In New Money Back Plan 25 year’s policyholder receives survival benefits at 5^th, 10^th, 15^th, 20^th years. At the end of 25^th year, Policyholder receives Maturity Benefit which is SUM ASSURED – Survival Benefits paid + BONUS +FAB, etc.
6. If he dies within the term of the Policy, Death Benefit paid to Nominee i.e. SUM ASSURED + BONUS acquired till that Year.
7. We can opt for Accident Benefit Rider and Critical Illness Rider by paying small Amount with the Premium.
8. In New Money Back Policy – 25 years there is High Bonus and High liquidity and saving point.

Lic New Money Back Plan 25 years Parameters

Eligibility conditions under Lic Money Back Policy 25 Years are,

Age	Minimum age:  13 years. Maximum age:  45 years.
Policy Term	25 years.
Sum Assured	Minimum SUM ASSURED: Rs. 1,00,000/-. Maximum SUM ASSURED: No Limit.
Premium Paying Term	20 years.
Premium Paying Mode	Monthly (SSS, ECS), Quarterly, Half yearly, Yearly.

Accident Death and Disability Benefit Rider:

Minimum Age at entry: 18 years(Completed).

Maximum Age at entry:  The cover can opt for any policy anniversary during the premium paying term.

Maximum Cover Ceasing Age: 70 years (nearest birthday).

Minimum Accident Benefit Sum Assured: Rs. 1,00,000/-.

Maximum Accident Benefit Sum Assured:  An amount equal to Basic Sum Assured subjected to the maximum of Rs. 50,00,000 /- overall limit by taking all existing policies of the Life Assured under individual Policies as well as Group policies.

Lic Money Back Plan 25 years Rebates

Mode Rebate:

Yearly             – Table Premium 2%.

Half yearly     – Table Premium 1%.

Quarterly       – Nil.

Monthly         – Nil.

Sum Assured Rebate:

Sum Assured	Rebate
From Rs. 1,00,000/- to Rs. 1,95,000/-	NIL.
From Rs. 2,00,000/- to Rs. 4,95,000/-	For every  1,000 Rs./- Sum Assured  2.00 Rs/- rebate.
From Rs. 5,00,000/- and above	For every  1,000 Rs./- Sum Assured  3.00 Rs/- rebate.

Lic Money Back Policy 25 years Calculator

Lic new money back policy 25 years calculator helps you to calculate the premiums, benefits, bonus, loan value, etc. You can calculate the premiums based on your sum assured using this Lic Money Back Policy 25 years Premium Calculator. Maturity benefits, death benefits and bonus are also calculated using Lic Money Back Policy 25 years Maturity Calculator.

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New Money Back Policy 25 years Benefits

• Survival Benefit:

  Policy Holder will be payable 15% of Basic Sum Assured at the end of each specific duration of  5^th 10^th 15^th 20^th years.

• Maturity Benefit:

  Sum Assured – Survival Benefits +  Simple Reversionary Bonus + FAB(final additional bonus) if any.

• Death Benefit:

  If the  Insured person dies within the Policy Term, then Nominee of the Policy will be given Death Benefit (Sum Assured on Death) + Simple Reversionary Bonus + FAB (final additional bonus) if any.

Sum Assured on Death means 125% of Basic Sum Assured (1.25 x BSA) or 10 times Annual Premium (10 x AP) whichever is higher that amount will be paid to the nominee. Death benefit paid should be more than 105% of total premiums paid as on the date of death.

Lic 25 years Money Back Policy Benefit Illustration

Suppose if Naveen took Lic Money Back Policy 25 Years for 10,00,000 Rs./-. The Policy Holder survives 25 years then if he dies then he will be paid  125% of Basic Sum Assured or 10 times of annual Premium whichever is higher i.e.

Basic Sum Assured is Rs. 10,00,000/-.

125% of BSA    10,00,000  X 125/100  = 12,50,000

Suppose Naveen Paid Premium for 5 Years and died.

Let Annual Premium  be 50,000 then, 10 times of 50,000 is Rs. 5,00,000/-.

As 12,50,000  is higher than 5,00,000  Nominee will get 12,50,000 as Death Benefit.

If he survives,

At the end of the 5^th year, he gets 1,50,000 /-.

At the end of the 10^th year, he gets 1,50,000 /-.

At the end of the 15^th year, he gets 1,50,000 /-.

At the end of the 20^th year, he gets 1,50,000 /-.

At Maturity age i.e., he get 4,00,000 +Vested Bonus + FAB.

Lic’s New Money Back Plan-25 years Additional Information

Risk Coverage: – Till end of Term of the Policy.

Date of Commencement of Risk: –  In the case of children whose age is less than 8 years risk commencement starts either from 2 years of taking the policy or from achieving 8 years old which is earlier.

Locking period: – 3 years.

Loan Facility: – Available.

Income Tax Reduction:  Available under Section 80C for premiums paid and Section 10 (10D) for Maturity returns. For information about Tax on Insurance Policies refer www.taxqueries.in.

Housing Loan Surety:  Available.

Riders available:  Yes.

Policy Revival: Policy can be revived before 2 years from the date of First Unpaid Premium (FUP).

Suicide Clause: If insured commit suicide before 12 months he will be returned 80% of premium what he paid.

Proposal Forms: Proposal Form no. 300 or 340 will be used to this lic money back policy 25 years.

Service Tax: 3.09% service tax is applicable.

Cooling-off Period: If a policyholder is not satisfied with the ‘Terms and Conditions” of the policy, he/she may return the policy within 15 days from the date of receipt of the policy.

Back-dating interest: The policies can be dated back within the same financial year.

Assignments/Nominations: Assignment and nominations are possible under Lic Money Back Policy 25 Years.

 New Money Back Policy 25 years Lic Example

DOB	2/27/1973
DOC	01/01/2014
Age NBD	41
P.P.Term / P.Term	25
Sum_Assured	100000
Accident_Benefit	Yes
Tabular_Rate	66.65
Service_Tax	3.09%

Mode	Premium	S_Tax	G_Prem
Yearly Premium	6642.61	263	6853
Half Yearly Premium	3354.74	133	3461
Qly Premium	1694	68	1748
SSS	5610.19	23	583

Lic New Money Back Policy 25 years Premium Chart 821

13	59.50
14	59.55
15	59.65
16	59.70
17	59.75
18	59.85
19	59.90
20	60.00
21	60.05
22	60.15
23	60.25
24	60.35
25	60.50
26	60.65
27	60.80
28	61.00
29	61.20
30	61.45
31	61.75
32	62.05
33	62.40
34	62.80
35	63.20
36	63.65
37	64.15
38	64.70
39	65.30
40	65.95
41	66.65
42	67.45
43	68.25
44	69.15
45	70.15
46	0.00
47	0.00
48	0.00
49	0.00
50	0.00

For more information about Lic Money Back Policy 25 Years, please click on below link.

LIC Money Back Plan 25 years.

Other Money Back Plans available in LIC

LIC Money Back Policy 20 years

LIC Jeevan Shagun Policy

LIC New Bima Bachat Policy

LIC New Children Money Back Policy