New money back plan
- 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 also offer the discount in the premium in case the mode of payment is Yearly.
- The loan is also available to the policyholder after the completion of 1 year of the policy.
| Eligibility Criteria | ||
| Minimum | Maximum | |
| Age | 18 Years (Completed) | 50 Years (Near Birthday) |
| Policy Term | 15 Years | |
| Premium Payment Term | Same as Policy Term | |
| Basic Sum Assured | Rs. 1 Lac | No Limit |
| Maximum Maturity Age | 75 Years (Near Birthday) |