- LIC's New Money Back Plan offers the Guaranteed pay-outs along with Life cover
- This plan offers guaranteed tax-free 20% of Sum Assured in 5th, 10th & 15th Year of the policy. The premium payment term in this plan is 15 years.
- 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
| Eligibility Criteria |
|
Min. |
Max. |
| Age |
13 Years (Completed) |
50 Years(Near Birthday) |
| Policy Term |
20 Years |
| Premium Payment Term |
15 Years |
| Basic Sum Assured |
Rs.1 Lac |
No Limit |
| Maximum Maturity Age |
70 Years Completed |
