NEW MONEY BACK – 25 YEARS

Plan No. 821Presented by:-

Sumeet PawarInsurance Advisor

Call (+91) 7738546484License No: 10149681

Agency Code: 02187929

Features

LIC's New Money Back Plan-25 years 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.

BenefitsDeath Benefit:

On death during the policy term provided the policy is in full force, death benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional Bonus, if any, shall be payable. Where, “Sum Assured 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.

BenefitsSurvival Benefit:

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

BenefitsMaturity Benefit:

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.

Benefit IllustrationBasic Details-Sum Assured: Rs 1,00,000Age at Entry: 30 yrsTerm: 25 yrsPPT: 20 yrsYearly Premium (1st Yr): Rs 6,327 (Rs 6,137 + Rs 190) Yearly Premium (2nd Yr…): Rs 6,232 (Rs 6,137 + Rs 95)

Survival Returns-On 5th yr: Rs 15,000On 10th yr: Rs 15,000On 15th yr: Rs 15,000On 20th yr: Rs 15,000

Approximate Maturity Returns-Interim Bonus: Rs 1,10,000Final Bonus: Rs 17,500Maturity (40%SA + IB + FB): Rs 1,67,500

Eligibility Conditions & Other Restrictions

Minimum entry age : 13 years(completed)Maximum entry age : 45 years (nearest birthday)Maximum maturity age: : 70 years (nearest birthday)Fixed Policy Term : 25 yearsMinimum Sum Assured : Rs.1,00,000 Maximum Sum assured : No limit

(Sum Assured will be in multiples of Rs.5,000 /- only)

Premium payment mode : Yearly / Half Yearly / Quarterly / Monthly / SSS

High Sum Assured Rebate

Sum Assured (S.A) Rebate (Rs.)1,00,000 to 1,95,000 Nil2,00,000 to 4,95,000 Rs 2 per 1000 on S.A.5,00,000 and above Rs 3 per 1000 on S.A.

Loan Facility

Loan can be availed under the policy provided the policy has acquired a surrender value and subject to the terms and conditions as the Corporation may specify from time to time.

Surrender Value

The policy can be surrendered for cash provided atleast three full years’ premiums have been paid. The Guaranteed Surrender value shall be percentage of total premiums paid (net of service tax) excluding extra premiums and premiums for riders, if opted for less any survival benefits already paid. This percentage will depend on the policy year in which the policy is surrendered.

Paid-up ValueIf at least three full years’ premiums have been paid and any subsequent premiums be not duly paid, this policy shall not be wholly void, but shall continue as a paid-up policy. The Basic Sum Assured under the policy shall be reduced to such a sum, called Paid-up Sum Assured and shall be equal to [(Number of premiums paid / Total Number of premiums payable) x Basic Sum Assured] less Total amount of survival benefits already paid under the policy.

The policy so reduced shall thereafter be free from all liabilities for payment of the premiums, but shall not be entitled to participate in future profits. However, the vested Simple Reversionary Bonuses shall remain attached to the reduced paid-up policy.

Notwithstanding the benefits available under a fully inforce policy, in the case of a reduced paid up policy, no survival benefits shall be payable and the paid-up value along with the vested Simple Reversionary Bonuses, if any, shall be payable only in lump-sum on the expiry of policy term or death of life assured, if earlier.Rider(s) shall not acquire any paid-up value and the rider benefits cease to apply, if policy is in lapsed condition.

Revival

If premiums are not paid within the grace period then the policy will lapse. A lapsed policy can be revived within a period of 2 consecutive years from the date of first unpaid premium but before the date of maturity by paying all the arrears of premium together with interest (compounding half-yearly) at such rate as fixed by the Corporation from time to time subject to submission of satisfactory evidence of continued insurability.The Corporation reserves the right to accept at original terms, accept at revised terms or decline the revival of a discontinued policy. The revival of discontinued policy shall take effect only after the same is approved by the Corporation and is specifically communicated to the PolicyholderRevival of rider(s), if opted for, will be considered along with revival of the Basic Policy and not in isolation.

Cooling-off PeriodIf the Policyholder is not satisfied with the “Terms and Conditions”, policy may be returned to us within 15 days from the date of receipt of the policy bond stating the reasons of objections. On receipt of the same the Corporation shall cancel the policy and return the amount of premium deposited after deducting proportionate risk premium (for basic plan and rider(s) if any) for the period on cover, expenses incurred on medical examination, special reports, if any and stamp duty charges.