LIC New Money Back Plan 25 Years

LIC New Money Back Policy – 25 Years

Table of Contents

LIC New Money Back Plan 25 Years (LIC table no 821) is a traditional life insurance policy which offers guaranteed return and bonus with survival benefits.In this plan Premium needs to be paid for a period of 20 years while the policy continue for 25 years.

LIC Money Back plan 821 — LIC New Money Back Plan 25 Years

Policy taken age between 13 to 45 years for a fixed tenure of 25 years. 15% of the Sum Assured is paid to the policy holder 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 (FAB) would be paid to the policy holder on survival till the end of the Policy term as Maturity Benefit.

LIC New Money Back Plan – 25 Years Key Features

Money Back Plan for a term of 25 years
15% of Sum Assured is paid at the end of 5th, 10th 15th and 20th Year as money back
Simple Reversionary Bonus is payable on maturity or earlier death
Large Sum Assured is available in this plan
LIC Accidental Death and Disability Benefit Rider is available

Read Also : LIC New Money Back Plan 920 Launched

Eligibility

Eligibility conditions under LIC Money Back Policy 25 Years are,

Age	Min. age : 13 yearsMax. age: 45 years
Policy Term	25 years
Sum Assured	Min. SUM ASSURED: Rs. 1,00,000/-Max. 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:

Min. Age at entry: 18 years(Completed).

Max. Age at entry: The cover can be opted for at any policy anniversary during the premium paying term.

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

Min. Accident Benefit Sum Assured : Rs. 1,00,000.

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

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LIC New Money Back Policy 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 New Money Back Policy 821 – 25 Years Benefits

Death Benefit – In case of death of the policy holder within the Policy term, the Sum Assured +vested Bonuses would be paid to the Nominee and policy would be terminate.
The Sum Assured on Death is higher of 125% of Basic Sum Assured or 10 times the Annualized Premium subject to a minimum of 105% of all Premiums paid.

Survival Benefit – On survival, the Life Insured will get 15% of Sum Assured at the end of every 5th, 10th 15th and 20th Policy Year and the policy continues till the end of the Policy Term of 25 years.

Maturity Benefit-If the policy holder survival till the end of the Policy Tenure, the policyholder will get the rest 40% of the Sum Assured + accrued Reversionary Bonus + Final Addition Bonus (FAB) if any) as Maturity Benefit and the policy will be terminated.

Income Tax Benefit-Income Tax Benefits available under Section 80-C & Maturity Benefit under section 10(10)D.

Read Also : LIC New Money Back Plan 921 Launched

Benefit Example LIC 25 years Money Back Policy

An example of AMIT who is purchasing this Plan with following details.

Sum Assured: Rs.10,00,000
Policy Term: 25 Years
Policy Purchase Year: 2016
Age: 25 Years
Yearly Premium: Rs. 59522

Maturity Details

If policy holder AMIT survives the policy term 25 years then Maturity will be as under.

Maturity Year	Maturity Age	Maturity Amount(approx)
2041	50	1750000 (excluding money back)

If he survives,

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

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

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

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

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

Age	Risk Cover Normal	Risk Cover Accidental	Premium	Amount Received
25	1295000	2295000	59522	0
26	1340000	2340000	58481	0
27	1385000	2385000	58481	0
28	1430000	2430000	58481	0
29	1475000	2475000	58481	0
30	1520000	2520000	58481	150000
31	1565000	2565000	58481	0
32	1610000	2610000	58481	0
33	1655000	2655000	58481	0
34	1700000	2700000	58481	0
35	1745000	2745000	58481	150000
36	1790000	2790000	58481	0
37	1835000	2835000	58481	0
38	1880000	2880000	58481	0
39	1945000	2945000	58481	0
40	1990000	2990000	58481	150000
41	2035000	3035000	58481	0
42	2080000	3080000	58481	0
43	2125000	3125000	58481	0
44	2190000	3190000	58481	0
45	2235000	3235000	0	150000
46	2280000	3280000	0	0
47	2325000	3325000	0	0
48	2370000	3370000	0	0
49	2600000	3600000	0	0
50	0	0	0	1750000

LIC New Money Back Plan 25 years Additional Information

Risk Coverage: –End of Term of the Policy.

Date of Commencement of Risk:–Risk commencement starts when taking the policy(day one).

Locking period: – 3 years.

Income Tax Reduction: Available under Section 80-C for premiums paid and Section 10 (10D) for Maturity returns.

Loan: Available.

Riders available: Yes.

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

Suicide Clause: if the policy holder commit suicide before 1 year he will be returned back 80% of premium what he paid.

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

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 is possible under LIC Money Back Plan 25 Years.

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