LIC 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 offer the discount in premium in case of high Sum Assured
The loan is also available to the policyholder after the completion of 1 year of the policy
