Step ahead in life with LIC's New Money Back Plan. 'With Profit' - money back plan LIC's New Money Back plan (Plan No 820) offers liquidity as there is "Money Back" at frequent intervals.
Key Features of LIC MoneyBack Plan
- LIC Moneyback Plan offers liquidity through frequent returns.
- Great plan to suit the requirements of a working woman.
- 20% of sum assured is paid every 5 years.
- Maturity benefit is 40% of Sum Assured + Bonus accured.
- Premium payment term of only 15 years.
- Life cover from 16th to 20th year without any premium payment.
- Death benefit before policy maturity is Sum Assured + Accured bonus.
- Policy holder can take a loan against the policy after paying a premium for three years.
This is a Moneyback plan with the option of paying a premium monthly, quarterly, biannually or annually.
Premiums paid towards Moneyback plan is eligible for Tax rebate under Section 80C each year upto Rs.1,50,000. The Survival and Maturity / Death claim paid under Moneyback plan is 100% Tax-free under Section 10(10d)
Eligibility Conditions And Restrictions
- Minimum Age : 13 Years Completed
- Maximum Age : 50 years
- Maximum Maturity Age : 70 years
- Policy Term : 20 years
- Premium payment term : 15 years
- Minimum Sum Assured : Rs,1,00,000
- Maximum Sum Assured : No limit
- Premium Payment : Yearly/Half yearly/Quarterly/Monthly/(Through Bank)
- Loan : Eligible After 3 years
- On Maturity Sum Assured + Bonus Payable