Lic Money Back policy 25 years – Plan 821 Review

By | April 26, 2016
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LIC-Money-Back-Plan.pngLIC New Money Back Policy 25 Years

An Introduction to the LIC New Money Back Policy 25 Years:

Lic New Money back policy 25 years is a renowned, non – linked life insurance plan which provides guaranteed returns & bonus. Lic Money back 25 years insurance policy mixes the dual advantages of savings & insurance. In money back 25 years insurance policy partial survival advantages means some percentage of sum assured are paid to the policy holder at specific intervals during the tenure of the policy.

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Lic New Money back policy 25 years (Table no 93) is a standard premium paying money back insurance policy. Premium in this plan is required to be paid for a period of 20 years by means of LIC Money Back Policy 25 years Calculator, even as the policy continues for 25 years. Policy can be occupied by anyone between 13 to 45 years of age for a preset tenure of 25 years. The major advantage of this New money back policy 25 years is some percentage of sum assured i.e 15 percent will be paid back to the policy holder in the form of survival advantage periodically for every 5 years during the policy tenure.

Eligibility Conditions of the Lic Money Back Policy 25 years

Eligibility under the Lic Money Back policy 25 years :

Entry Age Maximum Age : 45 years Minimum Age : 13 years

Lic New Money Back 25 years policy Sum Assured

 Sum Assured Minimum Maximum
Sum Assured is Rs. 1, 00, 000 / – No Limit

The basic sum assured shall be in the multiples of Rs. 5, 000 /-

Lic New Money Policy 25 years policy tenure

Policy Tenure : 25 years
Maximum Maturity Age : 70 Years (nearest birthday)

Lic Money Back Policy 25 years Premium Paying Mode

Monthly (SSS, ECS) Quarterly Half annually Annually

Conditions : The documents needed to take the Lic Money Back Policy 25 years are mentioned as under :

  • Application form / proposal form with photo :
  • Address proof :
  • Age Proof :
  • Medical reports (if required) :

Accident Demise & Disability Advantage Rider

  • Minimum Age at entry : 18 years (Completed)
  • Maximum Age at entry :  The cover can be opted for at any policy anniversary during the premium paying tenure.
  • Maximum Cover Ceasing Age : 70 years (nearest birthday)
  • Minimum Accident Advantage Sum Assured : 1, 00, 000
  • Maximum Accident Advantage Sum Assured : An amount equivalent to Basic Sum Assured subjected to the maximum of RS. 50, 00, 000 /- overall limit by taking all existing policies of the Life Assured under individual Policies as well as Group policies.

Rebates under the Lic Money Back policy 25 years 

Lic Money Back policy Mode Rebate :

  • Annually        –  2 percent of tabular premium
  • Half – annually –  1 percent of tabular premium
  • Quarterly  –  Nil
  • Monthly     –  Nil

Lic Money Back policy Sum Assured Rebate :

Sum Assured Rebate
From Rs.  1, 00, 000 / – to Rs.  1, 95, 000 / – NIL
From Rs.  2, 00, 000 / – to Rs. 4, 95, 000 / – For every  Rs. 1, 000  / – Sum Assured  Rs  2.00  / – rebate
From Rs.  5, 00, 000 / – & above For every  Rs. 1, 000 / – Sum Assured Rs  3.00 / – rebate

Lic Money Back Policy 25 years premium & Maturity Calculator

You can compute your policy premium with premium calculator :

To compute you have to enter your Name, Email – ID, Mobile number, Age, Tenure, Sum Assured.

Review & Key Features  of the Lic Money Back policy 25 years

  • Lic new money back policy 25 years is a simple money back plan with both Demise & Survival Advantages.
  • For a Money Back Policy 25 years (Table 93), 15 percent of the sum assured becomes payable each after 5, 10, 15 & 20 years, & the balance 40 percent plus the accrued bonus becomes payable at the 25th year.
  • The key chief aspect of Money Back Policy 25 years is in the event of demise at any time within the policy tenure, the demise claim comprises full sum assured without deducting any of the survival advantage amounts, which have already been paid. Likewise, the bonus is also calculated on the full sum assured.
  • Simple Reversionary Bonus is payable on Policy Maturity or on earlier demise.
  • Optional higher cover through Riders.

Advantages of the Lic Money back policy 25 years

  • Survival Advantage : In case of Life Assured surviving to the end of the specified duration’s 15 percent of the Basic Sum Assured at the end of each of 5th, 10th, 15th & 20th policy year.
  • Maturity Advantage : In case of Life assured surviving the stipulated date of maturity, 40 percent of the Basic Sum Assured along with vested Simple Reversionary Bonuses & Final added bonus, if any, shall be payable.
  • Demise Advantage :
    • On demise during the policy tenure given that the policy is in full force, demise advantage, defined as sum of “Sum Assured on Demise” & vested Simple Reversionary Bonuses & Final added Bonus, if any, shall be payable. Where, “Sum Assured on Demise” is defined as higher of 125 percent of the Basic Sum Assured or 10 times of annualized premium. This demise advantage shall not be less than 105 percent of the total premiums paid as on date of demise.
    • In case the Insured person expires within the Policy Tenure then Nominee of the Policy will be given Demise Advantage (Sum Assured on Demise) + Simple Reversionary Bonus + FAB (final additional bonus) if any.

Claims  under the Lic Money Back Policy 25 years

Lic Money Back policy 25 years Maturity Claim :

Sum Assured – Survival Advantages +  Simple Reversionary Bonus + FAB (final additional bonus) if any.

Lic money back policy 25 years Demise Claim :

Sum Assured on Demise means 125 percent of Basic sum assured (1.25 x BSA) or 10 times Annual Premium (10 x AP) either is higher that amount will be paid to nominee.  Demise advantage paid should be more than 105 percent of total premiums paid as on the date of demise.

Extra Information Related to Money Back Policy 25 years

Lic Money Back Policy Risk Cover :

  • Maximum Sum Assured : 1, 00, 000
  • Minimum Sum Assured : No limit.

Lic Money Back Policy Loan :

  • Loan facility is obtainable under this plan after the policy acquires paid up value.
  • The Loan as a percentage of surrender value shall be as under.
  • For in force / fully paid – up policies – up to 90 percent.
  • For paid up policies up to 80 percent

Housing Loan Surety :  obtainable

Policy Renewal : Policy can be renewed before 2 years from date of First Unpaid Premium (FUP).

Riders obtainable :  Yes

Proposal Forms : Proposal Form no. 300 or 340 will be used under Lic Money back policy 25 years.

Surrender Value :

The Lic money back policy 25 years policy can be surrendered at any time during the policy tenure provided premiums have been duly paid for full 3 years.

An illustration of the Lic Money Back Policy 25 years

Presume if Viren obtains the New Money Back Plan 25 years for Rs. 10, 00, 000 /-  for 25 years then if he expires then he will be paid  125 percent of Basic Sum Assured or 10 times of annual Premium whichever is higher i.e.

Basic Sum Assured is Rs. 10, 00, 000

125 percent of BSA                10, 00, 000  X 125 / 100  = 12, 50, 000

Suppose Viren Paid Premium for 5 Years & expired. Let Annual Premium be 50, 000 then

10 times of 50, 000 is Rs. 5, 00, 000 /-

As 12, 50, 000  is higher than 5, 00, 000  Nominee get 12, 50,000 as Demise Advantage.

Lic New Money Back policy 25 years Tabular premium

13 years of age 59. 50
14 years of age 59.55
15 years of age 59. 65
16 years of age 59. 70
17 years of age 59. 75
18 years of age 59. 85
19 years of age 59. 90
20 years of age 60. 00
21 years of age 60. 05
22 years of age 60. 15
23 years of age 60. 25
24 years of age 60. 35
25 years of age 60. 50
26 years of age 60. 65
27 years of age 60. 80
28 years of age 61. 00
29 years of age 61. 20
30 years of age 61. 45
31 years of age 61. 75
32 years of age 62. 05
33 years of age 62. 40
34 years of age 62. 80
35 years of age 63. 20
36 years of age 63. 65
37 years of age 64. 15
38 years of age 64. 70
39 years of age 65. 30
40 years of age 65. 95
41 years of age 66. 65
42 years of age 67. 45
43 years of age 68. 25
44 years of age 69. 15
45 years of age 70. 15
46 years of age 0. 00
47 years of age 0. 00
48 years of age 0.00
49 years of age 0.00
50 years of age 0.00

Frequently asked questions of the Lic Money Back Policy 25 years

Q1. What happens if you discontinue paying the premium?

A1. If you discontinue paying the premiums after 3 policy years, the policy acquires a Paid Up Value for a Reduced Sum Assured but the policy would be entitled for any future regular additions.

Q2. How to surrender the policy?

A2. There is a Guaranteed Surrender Value after 3 policy years

Guaranteed Surrender Value = 30 percent of all premiums paid – 1st year’s premium

Q3. Is Loan is obtainable for this policy?

A3. Loan facility is not obtainable under this policy

For further information about Lic Money Back Policy 25 Years please click on below given link :

LIC Money Back Plan 25 years.

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