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Product Information
Founded in 1956, Life Insurance Corporation of India (LIC) is the largest life insurance company in the country with a total income of Rs. 492626.60 crore and total assets worth Rs. 2572028.34 Cr It’s fully owned by the Government of India & is also the county’s largest investor.
Understand Life Insurance
Dhan Sanchay
Saral Jeevan Bima
Bachat Plus
New Endowment Plan
New Jeevan Anand
Aadhaar Stumb
Jeevan Labh
Aadhaar Shila
Jeevan Lakshya
Single Payment Endowment
Bima Jyoti
Jeevan Tarun
Jeevan Lakshya
New Children’s Money Back Plan
Jeevan Umang
New Jeevan Anand
Saral Pension
Jeevan Akshay- VII
Jeevan Shanti
Cancer Cover
Jeevan Arogya
Jeevan Amar
Jeevan Umang
Bima Shree
Jeevan Shiromani
New Money Back Plan 25 Years
New Money Back Plan
New Bima Bachat
Dhan Rekha
New Pension Plus
SIIP
Nivesh Plus
New Endowment Plus
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Plan No. 920
LIC's New Money Back Plan offers the Guaranteed pay-outs along with Life cover
This plan offers guaranteed tax-free 20% of Sum Assured in 5th, 10th & 15th Year of the policy. The premium payment term in this plan is 15 years.
On Maturity you will get tax-free Guaranteed 40% of Sum Assured along with vested reversionary bonus. LIC declared the bonus every year
This plan has an option of choosing the Accidental Life cover, Disability Benefit & Critical illness cover.
This plan also has the option of taking the Maturity proceeds in instalments as the policy-holder can choose the no of year as 5, 10 or 15.
In a similar way, the policyholder also has the option of choosing the death benefit in instalments.
LIC also offer the discount in the premium in case the mode of payment is Yearly.
The loan is also available to the policyholder after the completion of 2 years of the policy
Settlement option available on Maturity and Death in Installments of 5,10 or 15 Years
How Does This Policy Work
Sample illustration
Eligibility Criteria
Min.
Max.
Age
13 Years (Completed)
50 Years (Near Birthday)
Policy Term
20 Years
Premium Payment Term
15 Years
Basic Sum Assured
Rs.1 Lac
No Limit
Maximum Maturity Age
70 Years Completed
Rider
LIC’s NEW CRITICAL ILLNESS BENEFIT RIDER(CIR)
Rider
LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER
Rider
LlC's ACCIDENT BENEFIT RIDER
Rider
LIC's NEW TERM ASSURANCE RIDER (TR)
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