lic new money back plan 821 contact 9844222465 shridhar b c m.b.a hassan
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If you want any help about LIC i will help to all CONTACT 9844222465TRANSCRIPT
SHRIDHAR B C M.B.A
CONTACT 9844222465
LIC’s NEW MONEY BACK PLAN
25 Years
( Plan No. 821 )
UIN:51278VO1
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 Any. inal Additional Bonus, if AnyF
Death Benefit Death Benefit
Modification- ‘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 .
LIC’s New Money Back Plan -25 years ~ Benefits
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]
LIC’s New Money Back Plan -25 years ~ Benefits
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 90
2,7,12,17 124 21 152
3,8,13,18 186 22 214
4,9,14,19 248 23 276
24 338
25 400
LIC’s New Money Back Plan -25 years ~
Eligibility Conditions and Restrictions
ParticularsMoney 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 modeYearly, 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
Money Back Plan -25 years Plan No. 93
New Money Back Plan – 25 years Plan No. 821
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
Money Back Plan -25 years Plan No. 93
New Money Back Plan – 25 years Plan No. 821
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. 821
Guaranteed 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 – Factor
Bonus Payable modified
32024
15.28%21.99%30%
LIC’s New Money Back Plan -25 years ~ Surrender Value
No change in SSV
Money Back Plan -25 years Plan No. 93
New Money Back Plan – 25 years Plan No. 821
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 payable
The 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 Period
Assignment/Nomination
Money Back Plan -25 years Plan No. 93
New Money Back Plan – 25 years Plan No. 821
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.
CONTACT 9844222465
SHRIDHAR B C M.B.A