Money Back 20Yrs Policy


Unlike ordinary endowment insurance plan where the survival benefits are payable only at the end of the endowment period, this scheme provides periodic payments of partial survival benefits as follows during the term of the policy. Of course so long as the policyholder is alive this plan is best suitable for businessmen and professionals.In case of a 20-year money-back policy (table 75), 20% of the S. A. become payable each after 5,10,15 year, and the balance 40% plus the accrued should have attained majority.An important feature of this type of policies is that in the event of death at any time within the policy term, the death claim comprises full S.A. without deducting any of the survival benefit amounts, which have already been paid. Similarly, the bonus is also calculated on the full S.A.

Plan parameters

Age at entry: Min. 13 yrs LBD, Max. 50 yrs (T- 75) Max. 45 yrs (T-93)
Maturity age: Max.70 yrs.
Sum. in Multiples: 5000, Min. Max No Limit
Term: Min. 20 yrs, Max. 20yrs (T-75) Max. 25yrs (T-93)
Mode of Payment: YLY/HLY/QLY/SSS/MLY
Accident Benefit: Re.1 Extra per
(Max. 50 Lac inclusive 1000 S.A.
All plan)
Policy loan: yes,@ 10.5%
Housing loan: yes
Assignment: yes
Revival: yes
Surrender of policy: yes
Term rider: yes
CIR: yes

Underwriting condition

Form no.: 300/340
Age proof: std /NSAP-1,2,3
Female lives category: I/II/III
Non-medical (Gen): allowed
Non-medical (pro): allowed
Non-medical (special): allowed
Actual sum assured: basic SA
Rusk coverage: SA + bonus
Dating back@ 8%: Allowed


Death benefits: payment of full S.A. + bonus on full S.A. + FAB. If any is paid to the nominee The survival benefit already paid, if any is not deducted.

Maturity benefit: balance survival benefit + bonus on full S.A. + FAB, if any

Example: Ms. Tania Mirza, aged 25 invests Rs.2lac in a money back policy (T.No-75) paying an annual premium of Rs.12,546/- for 20 years period. she receives Rs.40,000 at the end of each 5th, 10th, 15th year. On maturity balance Rs.80,000+ Rs.1,64,000/- (as per bonus rate of 2005 i.e. Rs.41per thousand p.a.)+Rs.4000/- FAB if Ms. Sania dies after 8 year, his nominee will receive S.A. +Bonus without deducting the survival benefit survival benefit already paid to Ms. Tania

5 Comments on "Money Back 20Yrs Policy"

  1. shailesh kumar singh | August 15, 2017 at 7:58 pm | Reply

    My lic number is 835807563
    Please inform us to my policy mature process 2017

  2. Deepali Deshpande | March 23, 2017 at 12:23 pm | Reply

    My policy no is 990395080, I need the complete details that when would I will get first money back amount and in which account.
    email id:

  3. my policy no is 270664702 please inform us to my policy mature process who will be completed month od Dec.2014

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