LIC New Money Back Plan – 20 Years is a non-linked life insurance plan which offers guaranteed returns in installments during policy term and bonus. Premium in this plan has to be paid for a 15-year period, while the policy continues for 20 years.
Frequently Asked Questions
How survival benefit is paid?
20% of Sum Assured is paid at the end of 5th, 10th and 15th Year as Survival Benefit under this plan. Simple Reversionary Bonus and Final Addition Bonus is also paid at the time of maturity on completion of 20 years.
Is LIC’s Accidental Death and Disability Benefit Rider is available ?
Yes available as an option.
What is the death benefit?
In case of death of policyholder nominee would be paid the “Sum Assured on Death” along with accumulated Bonuses as death benefit and the policy would be terminated.