Who it suits
People planning for several future expenses across 25 years.
LIC plans / Money Back Plans
Money Back Plans
New Plan no. 721 UIN 512N278V03
LIC’s New Money Back Plan – 25 Years
Participating · Non-linked · Money back
Get 15% of the sum assured back at the end of years 5, 10, 15 and 20, and the balance at year 25.
13 – 45 yearsEntry age
25 yearsPolicy term
20 yearsPremium paying term
See the official brochure for the exact benefit formula.Sum assured
Plan highlights
What this plan gives you
The main features in plain words. The official brochure is the final word on every figure.
- Money back every 5 years
- Full cover continues
- Bonuses under with-profits
How it works
Survival benefits are paid every five years. Death cover stays at the full sum assured throughout.
Death benefit
Full Basic Sum Assured plus vested bonuses.
Maturity benefit
40% of Basic Sum Assured plus vested bonuses and Final Additional Bonus, if any.
Survival / income benefit
15% of Basic Sum Assured at the end of the 5th, 10th, 15th and 20th year.
Options and riders
Optional riders as listed in the brochure
Step by step
How the plan runs
1
Start the planEntry age: 13 – 45 years. Sum assured: See the official brochure for the exact benefit formula..2
Pay premiums20 years3
Stay coveredPolicy term: 25 years. Death benefit applies during the term.4
Income during the term15% of Basic Sum Assured at the end of the 5th, 10th, 15th and 20th year.5
Receive the benefit40% of Basic Sum Assured plus vested bonuses and Final Additional Bonus, if any.At a glance
Eligibility and plan limits
A quick reference before you discuss a proposal. Underwriting and channel conditions apply.
| Plan detail | As per summary |
|---|---|
| Plan number | 721 |
| UIN | 512N278V03 |
| Category | Money Back Plans |
| Plan type | Participating · Non-linked · Money back |
| Entry age | 13 – 45 years |
| Policy term | 25 years |
| Premium paying term | 20 years |
| Sum assured | See the official brochure for the exact benefit formula. |
- Loan facility as per policy conditions
Important details
Policy conditions that apply to most LIC plans
Know the conditions, not just the headline.
Grace period
30 days for yearly, half-yearly and quarterly premiums; 15 days for monthly. Cover continues during this time.
Free look
30 days from receiving the policy document to return it if you do not agree with the terms.
Revival
A lapsed policy can usually be revived within 5 years of the first unpaid premium, with arrears, interest and proof of good health.
Surrender, paid-up and loan
A loan is available within surrender value after the first policy year (one full year’s premium paid); guaranteed surrender value needs two full years’ premiums.
Suicide within 12 months
If it happens within 12 months of the start of cover, the nominee receives 80% of premiums paid (policy in force).
Section 45
After three years a policy cannot be questioned except for proven fraud.
Quick answers
Questions families ask
Who is this plan for?
People planning for several future expenses across 25 years.
What is the entry age?
13 – 45 years
What are the policy term and premium paying term?
Policy term: 25 years. Premium paying term: 20 years.
What sum assured can I choose?
See the official brochure for the exact benefit formula.
What happens if the life assured dies during the term?
Full Basic Sum Assured plus vested bonuses.
What do I receive at maturity?
40% of Basic Sum Assured plus vested bonuses and Final Additional Bonus, if any.
Does the plan pay anything during the term?
15% of Basic Sum Assured at the end of the 5th, 10th, 15th and 20th year.
Are there options or riders?
Optional riders as listed in the brochure
Will the amounts always be paid exactly as shown here?
This page is a summary. Actual benefits depend on the policy terms, premium payment status, the options chosen, underwriting and LIC’s official benefit illustration. The official brochure is the final word.
Want this explained in plain words?
Read LIC’s official brochure, compare the options, and I will help you choose what fits your family.
This page is a summary. Benefits, eligibility and premiums can change: the official LIC brochure for the plan is the final word, and I will confirm current terms for you.