LIC Offers 20 Year Old - New Money Back Plan

LIC Offers 20 Year Old - New Money Back Plan

 LIC Offers 20 Year Old - New Money Back Plan


LIC has launched a new 20-year money back plan. This plan is a non link engagement plan. Which provides security in the event of death within the full period of the plan, as well as providing retractive adjustment of payment on fixed time period for surviving during this period.


 LIC Offers 20 Year Old - New Money Back Plan


 LIC offers 20 Year Old - New Money Back Plan




This is the only policy, which at any time before maturity, i.e., provides financial assistance to the family on their difficult times when the policy holder dies untimely. This benefit is being provided by LIC only.


Death Benefit: During the policy term, if the policy holder dies, provided the policy is fully operational, the death benefit, which is given on the death of the policy holder, and normally contained bonuses and the last additional bonus Also, it will be payable.



Such as: - The sum insured on the death of the policy holder is defined as 125 percent of the basic sum insured or 10 times the annualized premium, the sum of the death benefit, all the premiums paid till the date of death. Will not be less than 105 percent.



The above written premium does not include any tax, additional premium, and rider premium etc.



Survival Benefit: - At the end of the due period, 20 percent of the basic sum insured will be payable at the end of the fifth, tenth and fifteenth year of the policy, on the surviving person's survival.


Maturity Amount: - On survival till the date of maturity of the Policyholder's policy of the person, 40 percent of the Basic Sum Assured along with the simple reversionary bonus and additional bonus, if any, will be payable.


Interaction in profit: - The policy will provide participation in the benefit of the corporation and according to the experience of the corporation, will be eligible to receive careful reversionary bonuses, but the policy should be fully operational.


When any claim arises in the policy due to death or jurisdiction, then the final bonus declaration can be made in that year under the policy, provided that the policy has been running for a minimum period without any interruption.



Alternative Benefit: -


Accidental Death and Disability Benefit Rider of LIC: - LIC's accidental death and the option of Disability Benefit Rider, can be selected at any time in any current policy by paying the extra premium within the period of payment of premium and this security policy Will be available within the entire period of



Provided the policy should be continued for the entire sum insured till the entire date. In case of accidental death, the amount of Accidental Death Benefit will be paid as a lump sum, with the Death Benefit provided under the Basic Plan. In the event of Permanent Disability due to the accident, the amount of equal amount of Accidental Benefit Policy amount (within 180 days) will be provided in the same monthly installments of up to 10 years. And with the prospective premium of the amount of Accidental Benefit Policy - as well as the Basic Sum Assured, which is equal to the amount of Accidental Benefit Policy under the policy, the premiums will not be charged i.e. the premium will be waived.


After surrendering such a current basic policy in which the receipt of the bonder has received the amount from which the rider is connected, the proportionate amount of the extra premium fixed for security after the payment period of the premium will be returned back.


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