lic's new money back plan no 821

LIC’s NEW MONEY BACK PLAN

25 Years

( Plan No. 821 )UIN:51278VO1

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LIC’s New Money Back Plan -25 years ~ Benefits

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

Maturity Benefit Maturity Benefit

40% of the Basic Sum Assured along with

Vested Simple Reversionary Bonuses and

40% of the Basic Sum Assured along with

Vested Simple Reversionary Bonuses and

Final Additional Bonus, if An

y. inal Additional Bonus, if Any

F

Death Benefit Death BenefitModification- ‘Sum Assured on Death'instead of SA

‘Sum Assured on Death’ along with Vested Simple Reversionary Bonuses

andSum Assured(SA) along with Vested Simple Reversionary Bonuses and Final Additional

Bonus, if any.

Final Additional Bonus, if any.

The death benefit as defined above shall not be less than 105% of totalpremiums* paid as on the date of death .








What is Sum Assured on Death?

Sum Assured on Death shall be Higher of ~

125% of Basic Sum Assured (1.25 x BSA)

OR10 times Annualised Premium.(10 x AP).

[*Premiums - excluding taxes, extra premiums and premiums for

riders, if any]








Survival BenefitPolicy Year

5th 10th 15th 20th

NOChange in SB

Survival Benefit Payable 15% 15% 15% 15%

Paid-up

Money Back Plan -25 years Plan No. 93

New Money Back Plan – 25 years Plan No. 821

Paid-up value per thousand Sum AssuredPaid –up value shall be equal to

[(Number of premiums paid/ Total

Number of premiums payable)x Basic

Sum Assured less total amount of

Survival Benefits paid under the

policy.

Valuemodified

Year ‰ Year ‰

6,11,16 62 20 902,7,12,17 124 21 1523,8,13,18 186 22 2144,9,14,19 248 23 276

24 33825 400







LIC’s New Money Back Plan -25 years ~Eligibility Conditions and Restrictions

Particulars Money Back Plan -25 years ( Plan No. 93)

New Money Back Plan – 25 years ( Plan No. 821)

Age at entry 13 to 45 years 13 to 45 years

Age at Maturity Maximum 70 years Maximum 70 Years

Policy Term

25 years 25 years Premium Paying

Premium Paying Term

25 Years

20 Years

term modified

Premium mode Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS)

Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS)

Basic Sum 1,00,000 and aboveAssured 50,000 and above ( In multiples of 5000)

MinimumSAmodified







LIC’s New Money Back Plan -25 years ~ Rebates

ModeRebatePlan No. 93 Plan No. 821

Ratemodified

Yearly 3% of tabular Premium 2% of tabular premium

Half-yearly 1.5% of tabular premium 1% of tabular premium

Quarterly Nil Nil



Basic Sum Assured Rebate (Rs.)

5,00,000 and above 3.00‰

BSA 2,00,000 to 4,95,000 2.00‰

BSA

1,00,000 to 1,95,000 Nil

Slab & Rate modified

Basic Sum Assured Rebate (Rs.)

1,00,000 and above 2.00‰ SA

50001 to 1,00,000 1.00‰ SA

Upto 50000 Nil







LIC’s New Money Back Plan -25 years ~ Loan



Available after payment of 3 full years

premiums.

Available after payment of 3 full years premiums.% of loan

modified

Loan granted shall be 90% of the

Surrender Value in case of inforce

policies and 85% of the Surrender

Value in case of Paid-up policies.

The maximum amount of loan that can be granted

as a percentage of Surrender Value be as under:

For inforce and fully paid-up policies – upto 90%

For paid-up policies – 80%

Foreclosure action shall be initiated on

default of 2 or more half-yearly loan

interest installments.

Foreclosure action shall not be taken under fully

paid-up and inforce policies even if there is

default of loan interest.







LIC’s New Money Back Plan -25 years ~ Surrender Value

Plan No. 93 Plan No. 821Guaranteed Surrender Value (GSV) Guaranteed Surrender Value

(GSV)Available after payment of 3 full years premiums.

Available after payment of 3 full years premiums.

NoChange

Before Payment of Survival Benefit:GSV shall be equal to 30% of the total premiums paid less First Year Premium and

GSV shall be a percentage of total premiums paid (net of taxes) excluding extra premium, if any and premium paid for riders, if opted for.

extra premium, if any.After Payment of Survival Benefit:GSV shall be 30% of the premiums paid after the due date on which last SB was paid

Less any Survival Benefits already paid. Examples of GSV factors applicable for total premiums paidPolicy Year ~ GSV factor

less extra premium, if any.

3 = 30%5 = 50%

80% (t=Policy Term)

t -1 =GSV %modified

Cash Value of vested bonuses, if any.

GSV factor applicable to vested bonus, if any. Examples of Vested bonus factors –Year of SV – FactorBonus

Payable modified

32024

15.28%21.99%30%







LIC’s New Money Back Plan -25 years ~ Surrender Value

No change in SSV



Special Surrender Value (SSV)

Special Surrender Value (SSV)Surrender Value shall be the

discounted value of the Paid-up Sum Assured and vested simple reversionary bonuses.

Surrender Value shall be the discounted value of the Paid-up Sum Assured and vested simple reversionary bonuses.The discount factors shall be special

surrender value factors as provided in Table- 1A of the Special Surrender Value Booklet and will depend upon the policy term and duration elapsed since the commencement of the policy.

The discount factors shall be special surrender value factors as provided in Table- 1A of the Special Surrender Value Booklet and will depend upon the policy term and duration elapsed since the commencement of the policy.

Surrender Value Payable

Surrender Value payableThe Higher of Guaranteed Surrender

Value and Special Surrender Value shall be payable.

The Higher of Guaranteed Surrender Value and Special Surrender Value shall be payable.







LIC’s New Money Back Plan -25 years

There shall be no change in the following Items

Back Dating

Grace PeriodAssignment/Nomination



A Policy may be revived within a period of 5 years from the date of first unpaid premium.

A Policy may be revived within a period of 2 years from the date of first unpaid premium.

Taxes, if any , were borne by the Corporation.

Taxes, if any, shall be applicable at the prevailing rates and borne by the policyholder as per rules.









THANK YOU…





lic's new money back plan no 821

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