This plan provides a life cover in the event of unfortunate death of the policy holder. This is a low premium paying option for any life insurance.
Why Money Back Plan
This policy not only covers the life of the policy holder but also provides a better pay-out plan during maturity.
Loan can be provided on the policy and the company will take care of the liquidity.
- This plan is specially designed for those who required money back at a regular interval & don’t want premium burden for a long time from their own income.
- Risk cover 125% of sum assured.
- Extended risk cover for life time of the insured.
- 11 times money back in total term.
- Approx. 33% premium will be reduced after 15 years.
- Approx. 59% premium will be reduced after 20 years.
- Loan and surrender facility available after 3 years.
- Double tax benefits of section 80 C and 10 (10 D).
This policy provides a125% return on the death of the policy holder or 10 times the annual premium paid.
This policy pays out a certain percentage of the sum assured at every 5 years of the policy term. 40% of the sum assured will be paid at the time of maturity.
An Illustration: At the Basic Sum Assured (BSA) of 8 Lac
|“MONEY BACK COMBO”|
|Age||Per Year Saving(Approx.)₹||Return after term of||Return amount|
|18 Years||47005||4.5 Years||30,000|
|20 Years||47221||5 Years||40,000|
|22 Years||47436||9.5 Years||30,000|
|25 Years||47846||10 Years||40,000|
|28 Years||48337||14.5 Years||30,000|
|30 Years||48776||15 Years||40,000|
|32 Tears||49279||19.5 Years||30,000|
|35 Years||50221||20 Years||244,000|
|38 Years||51430||23 Years||4,75,400|
|40 Years||52402||24 Years||5,05,200|
|42 Years||53518||24.5 Years||3,45,000|
Disclaimer: “Money-Back Combo” is a concept name only and it’s not a direct product of LIC, this is a combination of Plans and the Plans used for this combination are of LIC of INDIA.