LIC Money Back Plan No. 920 Details in Hindi | New मनी बैक Plan

LIC Money Back Plan No. 920 Details in Hindi | New मनी बैक Plan

Money Back Plan No. 920 is a limited payment, non-linked, with profits Money Back Plan .

Features & Conditions:

Minimum age at entry : 13 years (Completed)
Maximum age at entry : 50 years (Nearer Birthday)
Max. age at maturity : 70 years (Nearer Birthday)
Policy term : 20 years
Premium Paying term : 15 years
Minimum Sum Assured : 1,00,000/-
Maximum Sum Assured : No limit

Available Riders:

LIC’s Accidental Death and Disability Benefit Rider / Accident Benefit Rider , Term Rider & Critical illness Rider.

Payment Mode of Premium: 

Yearly mode , Half Yearly mode, Quarterly & Monthly ( SSS & NACH)

Rebates: 

Mode Rebate: Yearly: 2%, Half Yearly: 1 %

Grace Period: 

15 Days given in monthly premium payment mode and 30 days for other payment modes.

Claim Concessions: 

Available under Base Plan only. Not apply to policy Riders and Death due to Suicide.

Paid-up Value of policy: 

Paid up value available after payment of premium of 2 full years.

Surrender: 

Surrender value available after payment of premium of 2 full years.

Policy Loan Benefits: 

Loan Benefits available after payment of premium of 2 full years.

Revivals: 

Within 5 years of First Unpaid Premium (FUP)

Back Dating: 

Allowed with lean Month’s benefits.

Proposal Form: 

Form 300, 340 or Form 360

Tax Benefits:

On Premium: Deduction under Section 80C as per Income Tax rules

Maturity Amount: Exempt u/s 10(10D)

Death claim : Exempt u/s 10(10D)

Survival Benefits: Exempt u/s 10(10D)

All New Money Back Plan No. 920 Details with example are available in Video. Please check the video given below.

Sum Assured on Death : Calculated as 125% of Basic Sum Assured

DEATH BENEFIT: Sum Assured on Death + Vested Bonus + Final additional bonus(FAB) if any.

SURVIVAL BENEFIT: 20% of Basic Sum Assured is payable after 5th, 10th and 15th year.

MATURITY BENEFIT: 40% of Basic Sum Assured + Vested Bonus + Final additional bonus(FAB) if any

Maturity/Death Claim in Installments for 5/10/15 years for Full or Part of Maturity/Death Claim Amount: Option to be exercised – 3 months before Maturity and for Death Claim during lifetime by Life Assured .

Non -Medical Schemes: All Allowed.

Age Proofs: All Allowed.

Female Lives  : All Allowed

Keyman/Partnership/Empl-Employee: Allowed only under Employer-Employee

Example

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