LIC New Money Back Plan – 25 Years (Plan no. 821)

This is a Money back policy with Limited premium payment, Non-linked, Conventional, with-profits plan Money Back is paid every 5th year
Eligibility Conditions & Restrictions
Minimum age : 13 years (Completed)
Maximum age : 45 years
Maximum maturity age : 70 years
Minimum Sum Assured : Rs.1,00,000
Maximum Sum Assured : No limit
Policy Term : 25 years
Premium paying term : 20 years
Premium payment : Yearly / Half yearly / Quarterly / Monthly (Thru Bank)
Loan : Eligible after 3rd year
Surrender : Eligible after 3rd year
Money Back is paid : End of 5th year – 15% of Sum Assured End of 10th year – 15% of Sum Assured End of 15th year – 15% of Sum Assured End of 20th year – 15% of Sum Assured
On Maturity : 40% of Sum Assured + Bonus
On Death : 1.25% of Sum Assured + Bonus (Already Money back paid will not be deducted)
Income Tax Benefits : (i) Premiums paid are eligible for Tax rebate u/s 80c (ii) Maturity amount / Death claim is non-taxable u/s 10(10d)