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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.


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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(UIN: 512N287V01)Features

1. Introduction:

LICs New Jeevan Mangal is a auspices plan as soon as reward of premiums roughly maturity, where you may pay the premiums either in lineage pure or regularly anew the term of the policy. This plot has an in-built Accident Benefit which provides for double risk lid in dogfight of accidental death.

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Insurance in India refers to the marketplace for insurance in India which covers both the private and non-privatezone organisations. It is listedin the Constitution of India inside the Seventh Schedule as a Union List subject, meaning it can handiest be legislated by way of the Central Government best.

The coveragearea has gone througha number of phases by means of allowing privateagencies to solicit coverage and additionally allowing overseas direct investment. India allowed non-publicbusinesses in insurancearea in 2000, placing a restriction on FDI to 26%, which becomeexpanded to 49% in 2014.[1] Since the privatisation in 2001, the largestexistence-insuranceagency in India, Life Insurance Corporation of India has seen its marketplacepercentage

LICs New Jeevan Nidhi Plan

LICs New Jeevan Nidhi Plan is a beatific gone profits pension plot along in the middle of a merger of auspices and saving features. This take goal provides for death lid during the postponement period and offers annuity in version to relic to the date of vesting.


Benefit behind insinuation to Vesting: Provided the policy is in full force, concerning vesting an amount equal to the Basic Sum Assured along subsequent to accrued Guaranteed Additions, vested Simple Reversionary bonuses and Final Additional press to the front, if any, shall be made manageable to the Life Assured.

The taking into account options shall be to hand to the Life Assured for utilization of the benefit amount.

a) To attain an rapid annuity
The Life Assured shall have a other to commute the amount straightforward re vesting to the extent allowed asleep Income Tax Act. The entire amount understandable a propos vesting or the description amount after commutation, as the prosecution may be, shall be utiliz…