Money Back Policies


LIC Money Back Policies/Plans
LIC Money Back Policies/Plans are those life insurance plans which periodically release some amount of money back to the policy holder. The amount is released during the term of the policy and as long as the policy holder alive. The amount released is also known as survival benefits. In the endowment plans this survival benefits are provided either at maturity time or on early death of life assured

 

Types of LIC Money Back Plans

  1. The Money Back Policy-20 Years
    2. The term of this policy is 20 years and 20% of sum assured is provided to policy holder after every 5 years till 15 years, i.e. on 5th year 20% of sum assured, on 10th year 20% of sum assured and on 15th year 20% of sum assured is paid. On maturity, i.e. on 20th year, 40% of sum plus the accrued bonus is paid to the policy holder.
  2. The Money Back Policy-25 Years
    3. The term of this policy is 25 years and 15% of sum assured is provided to policy holder after every 5 years till 20 years, i.e. on 5th year 15% of sum assured, on 10th year 15% of sum assured, on 15th year 15% of sum assured and on 20th year 15% of sum assured is paid. On maturity, i.e. on 25th year, 40% of sum plus the accrued bonus is paid to the policy holder.
  3. Jeevan Surabhi-15 Years
    4. The term of the Jeevan Surabhi-15 Years Policy is 15 years but you have to pay premium up-to 12 years. There is no premium after 12 years till the maturity. Two survival benefit each equal to 30% of sum assured is paid on 4th and 8th year. On 12th year 40% of sum assured is paid. On maturity, i.e. on 15th year, Bonus is paid.
  4. Jeevan Surabhi-20 Years
    5. The term of the Jeevan Surabhi-20 Years Policy is 20 years but you have to pay premium up-to 15 years. There is no premium after 15 years till the maturity. Four survival benefit each equal to 25% of sum assured is paid on 4th, 8th, 12th and 15th year. On maturity, i.e. on 20th year, Bonus is paid.
  5. Jeevan Surabhi-25 Years
    6. The term of the Jeevan Surabhi-25 Years Policy is 25 years but you have to pay premium up-to 20 years. There is no premium after 20 years till the maturity. Five survival benefit each equal to 20% of sum assured is paid on 4th, 8th, 12th, 15th and 18th year. On maturity, i.e. on 25th year, Bonus is paid.
  6. Bima Bachat
    7. Bima Bachat is a single premium policy of LIC of India, i.e. it requires the policy holder to pay only one premium. The amount paid for the premium depends on the duration of the policy taken and life insurance coverage is available till the date of maturity, i.e when policy holder becomes 75 years old. The survival benefit each equal to 15% of the sum assured is paid at the end of every 3rd, 6th, 9th and 12th policy year depending upon the policy term which can be 9, 12 or 15 years as selected by the policy holder.