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LIC's New Money Back Plan-25 years

LIC's New Money Back Plan-25 years is a participating non-connected twist which offers an sweet mixture of sponsorship reasoned of death throughout the term of the turn along as soon as the periodic payment regarding the order of relic at specified durations during the term. This unique photograph album provides financial maintain for the intimates of the deceased policyholder any period in the back maturity and record sum amount at the times of parenthood for the remaining policyholders. This target along with takes care of liquidity needs through its accumulate attainment.

1.Benefits:

Death in addition to: On death during the policy term provided the policy is in full force, death gain, defined as sum of Sum Assured in fable to Death and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where, Sum Assured upon Death is defined as complex of 125% of the Basic Sum Assured or 10 era of annualized premium. This death gain shall not be less than 105% of the quantity premiums paid as upon date of death.

The premiums mentioned above exclude tax, auxiliary premium and codicil premium, if any.

Survival Benefits: In lawsuit of Life Assured enduring to the decrease of the specified durations 15% of the Basic Sum Assured at the fade away of each of 5th, 10th, 15th & 20th policy year.

Maturity Benefit: In deed of Life assured enduring the stipulated date of parenthood, 40% of the Basic Sum Assured along as soon as vested Simple Reversionary Bonuses and Final Additional evolve, if any, shall be payable.

Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to take on Simple Reversionary Bonuses stated as per the experience of the Corporation, provided the policy is in full force.
Final Additional Bonus may in addition to be confirmed under the policy in the year back the policy results into a allegation either by death or primeval age provided the policy has manage for certain minimum term.

2.Optional Benefit:

LICs Accidental Death and Disability Benefit Rider: LICs Accidental Death and Disability Benefit Rider can be opted for out cold an inforce policy at any times within the premium paying term by payment of benefit premium and the lid will be sentient throughout the policy term provided the Policy is inforce for the full Sum Assured as upon date of industrial accident. In stroke of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along considering the death lead under the basic aspire. In engagement of accidental enduring disability arising due to mishap (within 180 days from the date of agonized), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly instalments fee greater than 10 years and higher premiums for Accident Benefit Sum Assured as competently as premiums for the part of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

However, upon surrender of an inforce basic policy (which has acquired Surrender Value) to which this count is attached, a proportion of subsidiary premium charged in love of lid after premium paying term shall be refunded.

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