LIC’S New Money Back Plan (T-921) Is A Limited Premium Payment With Profits Money Back Plan In Which Policy Term Is Fixed To 25 Years But The Policyholder Need To Pay The Premium For Only 20 Years.
- Cover from age group 13 to 45 years.
- Risk Cover Up to 125% Of Basic Sum Assured
- Survival Benefits (Money Back) Of 15% Of Basic Sum Assured For 5th, 10th, 15th & 20th Year And Final Maturity At the End of 25th Year.
- Eligible for all Bonuses and Final Addition Bonuses declared by LIC.
- Term Rider Benefit Available
- Double Accident Rider Available.
- Double Tax Benefit Available (Premium Paid gives 80C Tax Benefit up to Rs. 1,50,,000 and Maturity is also Tax Free under section 10(10D)).
- Loan and Surrender Facility Available.
- 15% of Basic Sum Assured is Payable After 5th, 10th and 15th & 20th year of Policy, And at Maturity 40% of Basic Sum Assured + Vested Bonus + FAB.
Death Claim Benefit:
- Sum Assured on Death (125% of Basic Sum Assured) + Vested Bonus + FAB, if any
|Minimum Age to Apply||13 Years (Completed)|
|Maximum Age to Apply||45 Years (Nearest Birthday)|
|Policy Term||25 Years|
|Premium Payment Term||20 Year (Fixed)|
|Maximum Maturity Age||70 Years|
|Premium Paying Mode||Yearly, Half Yearly, Quarterly, Monthly (ECS)|
|Basic Sum Assured||100000 and above ( in multiple of 5000)|
|Loan||After 3 years|
|Surrender||After 3 years of full premium payment|