LIC Money back Insurance Policy
The LIC money back insurance policy can be revived below 2 years from the date of the unpaid premiums. In addition, revivals of the policy will be efficient behind it is accordingly permitted through LIC that indicates the policyholder. The policyholder can also take a loan against the policy offered it has got a surrender worth.
Key features & highlights
If the life assured survives turn over maturity, 40 percent of fundamental sum assured and easy reversionary bonuses, as well as final extra bonus, will be waged.
If the policy owner dies at the time of policy term and the nominee will obtain ten times of annualized premiums otherwise 125 percent of basic sum guaranteed, reversionary bonuses along with last extra bonus. The periodical survival advantage which has been paid will not be subtracted.
If the policy owner survives the policy term, and the nominees will get 20 percent of the basic sum guaranteed at during the end of every 5th, 10th and 15th policy year and 40% of Sum guaranteed to accrued bonuses.
Benefits LIC Money back Insurance Policy
Here are the useful benefits of LIC money back insurance policy such as,
- LIC’s Accidental Death & Disability Benefit Rider
The rider can be select behind payment of extra premium offered the policy is in force on the date of an accident. For instance, an accidental death, the Accident benefits sum guaranteed & the death benefit will also be waged. In an instance of accidental enduring disability, a sum equal to the accident advantage assured will be waged over a durations of ten years. As a result, future premiums for an accident advantage sum guaranteed will be waived.
- Easy Reversionary Bonus
It is confirmed per thousand sums assured at concluding of every year, following that, they form a division of the assured advantages. Easy reversionary bonus thus accrues at the time of premium paying term however it is paid at the end of the term or else death to the initial extra bonus. In addition, the easy reversionary bonus is also announced as per the result of the Life Insurance corporations (LIC).
- Final Addition Bonus
Waged, if the policy has run for a minimum durations. In addition, the final excessive bonus may be confirmed while a claim is created either as a consequence of the death or else maturity, offered the policy has been in effect for the least amount term.