money back plan_821

8/13/2019 Money Back Plan_821

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LIC’s NEW MONEY BACK PLAN

25 Years

( Plan No. 821 )

UIN:5128!O1



Money Back Plan -25 yearsPlan No. 93

New Money Back Plan – 25 yearsPlan No. 821

Maturity Benefit Maturity Benefit

40% of the Basic Sum Assured alongwith

Vested Simple Reversionary Bonuses and

Final Additional Bonus, if Any

40% of the Basic Sum Assured alongwith

Vested Simple Reversionary Bonusesand

Final Additional Bonus, if Any

Death Benefit Death Benefit

Sum Assured(SA) along with VestedSimple Reversionary Bonuses and

Final Additional Bonus, if any

‘Sum Assured on Death! along withVested Simple Reversionary Bonuses

andFinal Additional Bonus, if any

"he death #enefit as defined a#oveshall not #e less than $0% of totalpremiums& paid as on the date of death

Modification- ‘Sum

Assured on

Death' instead of

SA

No c hange

!"#s New Money Back Plan -25 years $ Benefits



W"a# $s %&' Ass&re on ea#"*

Sum Assured on Death shall be Higher of ~

125% of Basic Sum Assured (1.25 x BSA

!"

1# times Annualised $remium.(1+ , AP).

&$remiums ' excluding taxes extra )remiums and )remiums for

riders if an*+




%ur&i&al Benefit

'olicy (ear th $0th $th )0th

SurvivalBenefit 'aya#le $% $% $% $%


NO

Change

in SB

Paid-up

Value

modified



Particulars Money Back Plan -25 years' Plan No. 93( New Money Back Plan – 25years ' Plan No. 821(

Age at entry $* to 4 years $* to 4 years

Age at +aturity +aimum -0 years +aimum -0 (ears

'olicy "erm ) years ) years

'remium'aying "erm

) (ears )0 (ears

'remium mode(early, .alf/yearly, uarterly,+onthly 1SSS or 23S

(early, .alf/yearly, uarterly,+onthly 1SSS or 23S

Basic SumAssured

0,000 and a#ove$,00,000 and a#ove1 5n multiples of 000

Premium

Paying

term

modified

!"#s New Money Back Plan -25 years $

)li*i+ility "on,itions an, estrictions

Minimum

SA

modified



Moe-ea#e

Plan No. 93 Plan No. 821

,earl* -% of tabular $remium 2% of tabular )remium

Half'*earl* 1.5% of tabular )remium 1% of tabular )remium

uarterl* /il /il

Money Back Plan -25 yearsPlan No. 93

New Money Back Plan – 25 yearsPlan No. 821

Bas$/ %&' Ass&re-ea#e(-s.)

Bas$/ %&' Ass&re -ea#e (-s.)

$,00,000 and a#ove )006 SA ,00,000 and a#ove *006 BSA

000$ to $,00,000 $006 SA ),00,000 to 4,7,000 )006 BSA

8pto 0000 9il $,00,000 to $,7,000 9il

%la 0-a#e'o$$e

-a#e'o$$e

!"#s New Money Back Plan -25 years $ e+ates



Money Back Plan -25 years

Plan No. 93

New Money Back Plan – 25 years

Plan No. 821

Availa#le after payment of * full years

premiums

Availa#le after payment of * full years premiums

:oan granted shall #e 70% of the

Surrender Value in case of inforce

policies and ;% of the Surrender

Value in case of 'aid/up policies

"he maimum amount of loan that can #e granted

as a percentage of Surrender Value #e as under<

For inforce and fully paid/up policies = upto 70%

For paid/up policies = ;0%

Foreclosure action shall #e initiated on

default of ) or more half/yearly loan

interest installments

Foreclosure action shall not #e ta>en under fully

paid/up and inforce policies even if there is

default of loan interest

% of loanmodified

!"#s New Money Back Plan -25 years $ oan



Plan No. 93 Plan No. 821

uarantee, %urren,er /alue '%/( uarantee, %urren,er /alue '%/(

Availa#le after payment of * full yearspremiums

Availa#le after payment of * full yearspremiums

Before 'ayment of Survival Benefit<?SV shall #e e@ual to *0% of the totalpremiums paid less First (ear 'remium andetra premium, if any

After 'ayment of Survival Benefit<?SV shall #e *0% of the premiums paidafter the due date on which last SB was paidless etra premium, if any

?SV shall #e a percentage of total premiumspaid 1net of taes ecluding etra premium, ifany and premium paid for riders, if opted for:ess any Survival Benefits already paid

2amples of ?SV factors applica#le for totalpremiums paid'olicy (ear ?SV factor * *0% 0% t /$ ;0% 1t'olicy "erm

3ash Value of vested #onuses, if any ?SV factor applica#le to vested #onus, if any2amples of Vested #onus factors = (ear of SV = Factor * $);%

)0 )$77%

)4 *0%

0S %modifie

d

Bonus $a*ablemodified

NoChange

!"#s New Money Back Plan -25 years $ %urren,er /alue



Money Back Plan -25 years

Plan No. 93

New Money Back Plan – 25 years

Plan No. 821Special Surrender Value 1SSV Special Surrender Value 1SSV

Surrender Value shall #e the discountedvalue of the 'aid/up Sum Assured andvested simple reversionary #onuses

Surrender Value shall #e the discountedvalue of the 'aid/up Sum Assured andvested simple reversionary #onuses

"he discount factors shall #e specialsurrender value factors as provided in"a#le/$A of the Special Surrender ValueBoo>let and will depend upon the policyterm and duration elapsed since thecommencement of the policy

"he discount factors shall #e specialsurrender value factors as provided in"a#le/$A of the Special Surrender ValueBoo>let and will depend upon the policyterm and duration elapsed since thecommencement of the policy

Surrender Value 'aya#le Surrender Value paya#le

"he .igher of ?uaranteed Surrender Valueand Special Surrender Value shall #epaya#le

"he .igher of ?uaranteed Surrender Valueand Special Surrender Value shall #epaya#le

No change in SSV

!"#s New Money Back Plan -25 years $ %urren,er /alue



Mone Ba/3 Plan 425 earsPlan No. 6

Ne7 Mone Ba/3 Plan 25 earsPlan No. 821

A $olic* ma* be reied 3ithin a)eriod of 5 *ears from the date of firstun)aid )remium.

A $olic* ma* be reied 3ithin a)eriod of 2 *ears from the date of firstun)aid )remium.

4axes if an* 3ere borne b* theor)oration.

4axes if an* shall be a))licable atthe )reailing rates and borne b* the)olic*holder as )er rules.

9"ere s"all e no /"ane$n #"e ollo7$n I#e's

Bac6 Dating

0race $eriod

Assignment7/omination

!"#s New Money Back Plan -25 years

money back plan_821

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