- LIC’s New Money Back Plan offers the Guaranteed pay-outs along with Life cover
- This plan offers guaranteed tax-free 15% of Sum Assured in 5th, 10th, 15th & 20th Year of the policy. The premium payment term in this plan is 20 years.
- This plan offers the Guaranteed risk cover of 125% of Sum Assured from Day 1
- On Maturity you will get tax-free Guaranteed 40% of Sum Assured along with vested reversionary bonus. LIC declared the bonus every year
- This plan has an option of choosing the Accidental Life cover, Disability Benefit & Critical illness cover.
- This plan also has the option of taking the Maturity proceeds in instalments as the policy-holder can choose the no of year as 5, 10 or 15.
- In a similar way, the policyholder also has the option of choosing the death benefit in instalments.
- LIC also offer the discount in the premium in case the mode of payment is Yearly.
- The loan is also available to the policyholder after the completion of 2 years of the policy
- Settlement option available on Maturity and Death in Installments of 5,10 or 15 Years
How Does This Policy Work
|Premium Payment Term
|Basic Sum Assured
|Maximum Maturity Age
||70 Years Completed
||LIC’s NEW CRITICAL ILLNESS BENEFIT RIDER(CIR)
||LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER
||LlC's ACCIDENT BENEFIT RIDER
||LIC's NEW TERM ASSURANCE RIDER (TR)