LIC New Money Back Plan
40% of the basic sum assured along with vested simple reversionary bonuses and final additional bonus, if any.
Death Benefit – LIC New Money Back Plan
‘Sum Assured on Death’ along with vested simple reversionay bonuses and final additional bonus, if any. The Death benefit as defined above shall not be less than 105% of total premiums* paid as on date of death OR sum assured on Death shall be Higher of 125% of Basic Sum assured (1.25 xBSA) OR 10 times Anualised Premium (10xAP) whichever is higher
(*Premiums – excluding taxes, extra premium and premium of riders, if any)
Accident Benefit – LIC New Money Back Plan
Available through out policy term
Survival Benefit – LIC New Money Back Plan
5th Year – 15% of SA, 10th Year – 15% of SA, 15th Year – 15% of SA, 20th Year – 15%
Eligibility Conditions and Restrictions – LIC New Money Back Plan
Age at Entry – 13-45 years
Age at Maturity – Max 70 years
Policy Term – 25 years
Premium Paying Term – 20 years
Premium Mode – Yearly, Half Yearly, Quarterly, Monthly (ECS)
Basic Sum Assured – 1 lac and above(Multiple of 5000)
Loans – Available after payment of 3 full years premiums
Surrender Value – Available after payment of 3 full years premiums.
Revival – A policy may be revived within a period of 2 years from the date of first unpaid premium taxes, if any shall be applicable at the prevailing rates and borne by the policyholder as per rules.
Back Dating – Available
Assignment / Nomination – Available
LIC New Money Back Plan : LIC New Money Back Plan : LIC New Money Back Plan