lic money back policy 25 years review and features

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LIC New Money Back Policy 25 Years

LIC New Money Back Policy 25 Years Introduction

Lic Money back policy 25 years is a non-linked life insurance policy which offers guaranteed returns and bonus.Lic Money back insurance policy combine the dual benefits of savings and insurance. In money back 25 years insurance policy partial survival benefits means some percentage of sum assured are paid to the policyholder at specific intervals during the term of the policy.
Lic New Money back policy 25 years is a regular premium paying money back insurance policy.Premium in this plan needs to be paid for a period of 20 years while the policy continues for 25 years. Policy can be taken for anyone between 13 to 45 years of age for a fixed tenure of 25 years.The main benefit of the Lic money back policy 25 years is some percentage of sum assured i.e 15% will be paid back to the policy holder in the form of survival benefit periodically every 5 years completion during the term of the policy.

Lic Money Back Policy 25 years

Lic Money Back policy 25 years Eligibility

Entry Age

Maximum Age: 45 years

Minimum Age: 13 years

Lic New Money Back 25 years policy Sum Assured

Sum Assured	Minimum	Maximum
Sum Assured is	Rs. 1,00,000/-	No Limit

The basic sum assured shall be in the multiples of Rs. 5000/-

Lic New Money Policy 25 years policy term

Policy Term	25 years
Maximum Maturity Age	70 Years(nearest birthday)

Lic Money Back Policy 25 years Premium Paying Mode

Monthly (SSS, ECS)

Quarterly

Half yearly

Yearly

Conditions: The documents required to take the Lic Money Back Policy 25 years are

Application form/proposal form with photo
Address proof
Age Proof
Medical reports (if required)

Accident Death and Disability Benefit Rider:

Minimum Age at entry : 18 years(Completed)
Maximum Age at entry : The cover can be opted for at 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 policy 25 years Rebates

Lic Money Back policy Mode Rebate:

Yearly – 2% of tabular premium
Half yearly – 1% of tabular premium
Quarterly – Nil
Monthly – Nil.

Lic Money Back policy 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 premium and Maturity Calculator

You can calculate your policy premium with premium calculator

To Calculate you must need to enter your Name,Email ID,Mobile number,Age,Term,Sum Assured.

Lic Money Back policy 25 years Key Features and benefits

Lic New Money back policy 25 years Review and Key features:

Lic new money back policy 25 years is a simple money back plan with both Death and Survival Benefits.
For a Money Back Policy 25 years (Table 93), 15% of the sum assured becomes payable each after 5, 10, 15 and 20 years, and the balance 40% plus the accrued bonus become payable at the 25th year.
The Main important feature of Money Back Policy 25 years is in the event of death at any time within the policy term, the death claim comprises full sum assured without deducting any of the survival benefit amounts, which have already been paid. Similarly, the bonus is also calculated on the full sum assured.
Simple Reversionary Bonus is payable on Policy Maturity or on earlier death.
Optional higher cover through Riders.

Lic Money back policy 25 years Review and Benefits:

Survival Benefit:

In case of Life Assured surviving to the end of the specified durations 15% of the Basic Sum Assured at the end of each of 5th, 10th, 15th & 20th policy year.
Maturity Benefit:-

In case of Life assured surviving the stipulated date of maturity, 40% of the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable.
Death Benefit :-

On death during the policy term provided the policy is in full force, death benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where, “Sum Assured on Death” is defined as higher of 125% of the Basic Sum Assured or 10 times of annualized premium. This death benefit shall not be less than 105% of the total premiums paid as on date of death.

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.

Lic Money Back Policy 25 years Claims

Lic Money Back policy 25 years Maturity Claim:

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

Lic money back policy 25 years Death Claim:

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 nominee. Death benefit paid should be more than 105% of total premiums paid as on the date of death.

Additional Information

Lic Money Back Policy Risk Cover:

Maximum Sum Assured: 1,00,000
Minimum Sum Assured: No limit.

Lic Money Back Policy Loan:

Loan facility is available under this plan after the policy acquires paid up value.
The Loan as a percentage of surrender value shall be as under.
For inforce/fully paid-up policies-upto 90%.
For paid up policies upto 80%

Housing Loan Surety: Available

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

Riders available: Yes

Proposal Forms: Proposal Form no. 300 or 340 will be used under Lic Money back policy 25 years.

Surrender Value:

The Lic money back policy 25 years policy can be surrendered at any time during the policy term provided premiums have been paid for full three years.

Lic Money Back Policy 25 years Example

Suppose if kumar taken New Money Back Plan 25 years for 10,00,000 Rs./- for 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 get 12,50,000 as Death Benefit.

Lic New Money Back policy 25 years Tabular premium

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

Lic Money Back Policy 25 years FAQs

1.What happend if you stop paying the premium?

A.If you stop paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be eligible for any future regular additions.

2.If You want to surrender the policy?

A. There is a Guaranteed Surrender Value after 3 policy years

Guaranteed Surrender Value = 30% of all premiums paid – 1st year’s premium

3.Is Loan is available for this policy?

A. Loan facility is not available under this policy

Lic Money Back Policy 25 years Documents

Proposal Form:

Lic Money Back Policy 25 years Proposal form 300

Lic Money Back Policy 25 years Proposal form 340

Maturity Form:

Lic Money Back Policy 25 years Maturity Claim Form

Revival Forms:

If premium are not paid within the grace period then the policy will lapse.
A lapsed policy can be revived during the lifetime of the Life Assured.

Lic Money Back Policy 25 years Revival Form 700

Lic Money Back Policy 25 years Revival form 720

Lic Money Back Policy 25 years circular

Lic Money Back Policy 25 years tabular premium

Lic Money Back policy 25 years