MONEY BACK 25 YEARS INSURANCE POLICY BY LIC |
| 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.For money back policy of 25 year (table 93), 15% of the S.A. become payable each after 5,10,15 and 20 year, and the balance 40% plus the accrued bonus become payable at 25th year.
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) Underwriting condition Form no.: 300/340 Benefits 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 |
I need to surrender my Policy No 611624728 dt 28.03.94. Table (93/25), let me know the Surrender value of my Policy as on date.
Ph No 9740436091
bonus approved and proceeds of policy 932455114 (93/25)
money back policy of 25 years
my lic’s jeevan joyoti policy no.551395102&551395103. Please tell me about my last payment.