New Money Back 25 years Policy (821)
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New Money Back 25 years Policy (821)
- Non – linked, with-profits, regular premium payment Endowment plan for the age group of 13 years to 45 years.
- Unique feature of the plan is liquidity at regular period of the policy.
- Premium liability reduces as policy holder gets survival benefit at regular period of every 5 years. Premium is payable up to 20 years only.
- Plan with a unique combination of good return and risk coverage with good liquidity to keep premium liability smooth.
- Premium is exempted u/s 80 C and maturity amount is fully tax free u/s 10 (10 ) D.
Certain important features of the plan are.
1 – Policy term is 25 years only. Maximum maturity age is 70 years.
2 – Sum assured – Minimum Rs. 1,00,000 to maximum no limit ( subject to certain conditions ) in multiples of Rs. 10,000.
3 – Wide range of premium modes areavailable, Yearly, half-Yearly, quarterly and monthly (ECS only or through salary deduction – SSS) .
4 – LIC’s accidental death and disability benefit is available for age above 18 years as an optional rider with additional premium.
5 – Loan facility is available, provided full 3 years premium is paid and policy is in force.
6 – Policy can be surrendered at any time during the policy term, if it is in force.
Benefits
- A) Survival benefit:
- Policy holder will get 15% of sum assured at the end of 5th, 10th, 15th and 20th completed year of policy.
- B) Maturity Benefit:
- On maturity, at the end of policy term 40% of the sum assured along with vested simple reversionary bonuses and final additional bonus, if any.
- C) Death Benefit
- In case of unforeseen death during the policy period of in force policy, 125% of sum assured with bonus and final additional bonus, if any, shall be payable to the nominee.