LIC Money Back Plan 820 – 20 Years
LIC New Money Back Plan 820 – 20 Years, (LIC table no 820) – 20 Years is a traditional life insurance policy which offers guaranteed return and bonus with savings.In this plan Premium needs to be paid for a period of 15 years while the policy continue for 20 years.

Policy taken age between 13 to 50 years for a fixed tenure of 20 years. 20% of the Sum Assured is paid to the policy holder on survival at the end of every 5 years and the remaining 40% of the Sum Assured along with Vested Simple Reversionary Bonus + Final Addition Bonus (FAB) would be paid to the policy holder on survival till the end of the Policy term as Maturity Benefit.
LIC New Money Back Plan 20 Years – Key Features
- Money Back Plan for a term of 20 years
- 20% of Sum Assured is paid at the end of 5th, 10th and 15th Year as Survival Benefit(SB)
- Simple Reversionary Bonus is payable on maturity or earlier death
- Large Sum Assured is available in this policy
- LIC Accidental Death and Disability Benefit Rider is available in this policy
Read Also : LIC’s NEW ENDOWMENT PLANS LAUNCHED
Eligibility of LIC New Money Back Plan 820 – 20 years
Age | Min. age : 13 years Max. age: 50 years |
Policy Term | Policy Term : 20 years Max. Maturity Age : 70 years (nearest birthday) |
Sum Assured | Min. SUM ASSURED: Rs. 1,00,000/- Max. SUM ASSURED: No Limit |
Premium Paying Mode | Monthly(SSS, ECS),Quarterly,Half yearly,Yearly |
Premium paying Term | 15 years only |
Accidental Death Rider
Min. Age at entry : 18 years(Completed).
Max. Age at entry : The cover can be opted for at any policy anniversary during the premium paying term.
Max. Cover Ceasing Age : 70 years (nearest birthday).
Min. Accident Benefit Sum Assured : Rs. 1,00,000.
Max. Accident Benefit Sum Assured : An amount equal to Basic Sum Assured subjected to the maximum of RS. 50,00,000 /-overall limit by taking all existing policies of the Life Assured under individual Policies as well as Group policies.
Disability Benefit Rider
In LIC New money Back plan 820 If policy holder permanent disable arising due to accident. Accident Benefit Sum Assured will be paid in equal monthly installments spread over 10 years and future premiums under this policy, shall be waived. An amount will paid within 6th month from the date of accident.
Read Also : LIC New Money Back Plan 920 Launched
LIC New Money Back Plan 820 – Rebates
Mode Rebate:
Yearly – Table premium 2%
Half yearly – Table Premium 1%
Quarterly – Nil
Monthly – Nil
Sum Assured Rebate:
Sum Assured | Rebate |
From Rs. 1,00,000/- to Rs. 1,95,000/- | NIL |
From Rs. 2,00,000/- to Rs. 4,95,000/- | For every 1,000 Rs./- Sum Assured 2.00 Rs/- rebate |
From Rs. 5,00,000/- and above | For every 1,000 Rs./- Sum Assured 3.00 Rs/- rebate |
LIC New Money Back Plan 820 years – Benefits
Death Benefit – In case of death of the policy holder within the Policy term, the Sum Assured +vested Bonuses would be paid to the Nominee and policy would be terminate.
The Sum Assured on Death is higher of 125% of Basic Sum Assured or 10 times the Annualized Premium subject to a minimum of 105% of all Premiums paid.
Survival Benefit – On survival, the Life Insured will get 20% of Sum Assured at the end of every 5th, 10th and 15th Policy Year and the policy continues till the end of the Policy Term of 20 years.
Maturity Benefit – If the policy holder survival till the end of the Policy Tenure, the policyholder will get the rest 40% of the Sum Assured + accrued Reversionary Bonus + Final Addition Bonus (FAB) if any) as Maturity Benefit and the policy will be terminated.
Income Tax Benefit-Income Tax Benefits available under Section 80-C & Maturity Benefit under section 10(10)D.
LIC New Money Back Plan 20 years – Example
An example of SUNIL who is purchasing this Plan with following details.
Sum Assured: Rs.5,00,000
Policy Term: 20 Years
Policy Purchase Year: 2016
Age: 25 Years
Yearly Premium: Rs. 38851
Maturity Details
If policy holder SUNIL survives the policy term 20 years then Maturity will be as under.
Maturity Year | Maturity Age | Maturity Amount(approx) |
2036 | 45 | 620000 excluding money back |
If he survives,
At end of 5th year he get 1,00,000 /-
At end of 10th year he get 1,00,000 /-
At end of 15th year he get 1,00,000 /-
At Maturity age i.e., he get 2,00,000 +Vested Bonus + FAB.
Year-wise Death Claim given as under
Age |
Risk Cover Normal |
Risk Cover Accidental |
Premium |
Amount Received |
25 |
645000 |
1145000 |
38851 |
0 |
26 |
665000 |
1165000 |
38172 |
0 |
27 |
685000 |
1185000 |
38172 |
0 |
28 |
705000 |
1205000 |
38172 |
0 |
29 |
725000 |
1225000 |
38172 |
0 |
30 |
745000 |
1245000 |
38172 |
100000 |
31 |
765000 |
1265000 |
38172 |
0 |
32 |
785000 |
1285000 |
38172 |
0 |
33 |
805000 |
1305000 |
38172 |
0 |
34 |
825000 |
1325000 |
38172 |
0 |
35 |
845000 |
1345000 |
38172 |
100000 |
36 |
865000 |
1365000 |
38172 |
0 |
37 |
885000 |
1385000 |
38172 |
0 |
38 |
905000 |
1405000 |
38172 |
0 |
39 |
935000 |
1435000 |
38172 |
0 |
40 |
955000 |
1455000 |
0 |
100000 |
41 |
975000 |
1475000 |
0 |
0 |
42 |
995000 |
1495000 |
0 |
0 |
43 |
1015000 |
1515000 |
0 |
0 |
44 |
1045000 |
1545000 |
0 |
0 |
45 |
0 |
0 |
0 |
620000 |
Additional Information LIC New Money Back 820
Risk Coverage: End of Term of the Policy.
Date of Commencement of Risk: Risk commencement starts when taking the policy (day one).
Locking period: 3 years.
Loan Facility: Available after 3 years.
Income Tax Deduction: Available under Section 80C and Section 10(10D) for Maturity returns.
Riders available: Yes.
Policy Revival: Policy can be revived before 2 years from date of First Unpaid Premium (FUP).
Suicide Clause: If the policy holder commit suicide before 1 year. 80% of premium will be returned back what he paid, his NOMINEE.
Proposal Forms: Proposal Form no. 300 or 340 will be used under this plan.
Cooling-off Period: If a policyholder is not satisfied with the ‘Terms and Conditions” of the policy, he/she may return the policy within 15 days from the date of receipt of the policy.
Backdating: The policies can be dated back within the same financial year.
Assignments / Nominations: Assignment and nominations is possible under this plan.
Services that I offer
- New LIC Policy Quotes and Completion
- Complete guidance
- Doorstep Premium Collection Service
- Personalized Policy Recommendations
- Renewal / Revival of Lapsed Policies
- Human Life Value Calculation
- LIFE TIME SERVICES
FOR MORE INFORMATION PLEASE CONTACT -:
BASPA NAND PANCHOLI
CON.9891009400
Office Address:-25,KG,Marg,Jeevan Prakash Building.
LIC of India,Branch Unit-117.
3rd floor,C.P. New Delhi-110001.
LIC’s other plans
LIC New Jeevan Labh Endowment 936