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LIC Money Back Plan-821

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This insurance plan is a participating non-linked plan which offers an attractive combination of protection against death throughout the term of the plan along with the periodic payment on survival at specified durations during the term. This unique combination provides financial support for the family of the deceased policyholder any time before maturity and lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.

Benefits-

Maturity Benefits:
In case of Life Assured surviving the stipulated date of maturity, 40% of the Basic Sum Assured along with vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable.

Survival Benefits:
In case of Life Assured surviving to the end of the specified durations 20% of the Basic Sum Assured at the end of each of 5th, 10th & 15th policy year.

Death Benefits:
On death during the policy term provided the policy is in full force, death benefit, defined as the sum. Sum Assured on Death? and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where did Sum assure on Death? is defined as higher of 125% of the Basic Sum Assured or 10 times of annualized premium. This death benefit shall not be less than 105% of the total premiums paid as on date of death.

Eligibility Conditions & Restrictions for plan no : 821 
Minimum age
13 years (Completed)
Maximum age45 years
Maximum maturity age70 years
Minimum Sum AssuredRs.1,00,000
Maximum Sum AssuredNo limit
Policy Term25 years
Premium paying term20 years
Premium paymentYearly / Half yearly / Quarterly / Monthly (Thru Bank)
LoanEligible after 3rd year
SurrenderEligible after 3rd year
Money Back is paidEnd of 5th year - 15% of Sum Assured
End of 10th year - 15% of Sum Assured
End of 15th year - 15% of Sum Assured
End of 20th year - 15% of Sum Assured
On Maturity40% of Sum Assured + Bonus
On Death1.25% of Sum Assured + Bonus
(Already Money back paid will not be deducted)
Income Tax Benefits(i) Premiums paid are eligible for Tax rebate u/s 80c
(ii) Maturity amount / Death claim is non-taxable u/s 10(10d)