LIC NEW MONEY BACK PLAN - 20 YEARS -NIRMAL GYL-9899277522

1. LIC’s NEW MONEY BACK PLAN
20 Years
( Plan No. 820 )
UIN : 512N280V01

2. LIC’s New Money Back Plan -20 years ~ Benefits
Money Back Plan -20 years
Plan No. 75
New Money Back Plan – 20 years
Plan No. 820
Maturity Benefit
Maturity Benefit
40% of the Basic Sum Assured along
with
Vested Simple Reversionary Bonuses and
Final Additional Bonus, if any.
40% of the Basic Sum Assured along
with
Vested Simple Reversionary Bonuses
and
Final Additional Bonus, if any.
Death Benefit
Modification‘Sum Assured on
Death' instead of
SA
Basic Sum Assured(BSA) along with
Vested Simple Reversionary Bonuses and
Final Additional Bonus, if any.
Death Benefit
‘Sum Assured on Death’ along with
Vested Simple Reversionary Bonuses
and
Final Additional Bonus, if any.
The death benefit as defined above shall
not be less than 105% of total
premiums* paid as on the date of death .

3. LIC’s New Money Back Plan -20 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)
OR
10 times Annualised Premium.(10 x AP).
[Premiums - excluding taxes, extra premiums and premiums for
riders, if any]

4. LIC’s New Money Back Plan -20 years ~ Benefits
NO
Change
in SB
Survival Benefit
5th
Survival Benefit
Payable
10th
15th
20%
Policy Year
20%
20%
Paid-up
Value
modified
Money Back Plan -20 years
Plan No. 75
New Money Back Plan – 20 years
Plan No. 820
Paid-up value per thousand Sum Assured
Year
‰
Year
‰
6,11
70
15
50
2,7,12
140
16
120
3,8,13
210
17
190
4,9,14
280
18
260
19
330
20
400
Paid –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.

5. LIC’s New Money Back Plan -20 years ~
Eligibility Conditions and Restrictions
Particulars
Age at entry
Money Back Plan -20 years
( Plan No. 75)
13 to 50 years
New Money Back Plan – 20
years ( Plan No. 820)
13 to 50 years
Age at Maturity Maximum 70 years
Maximum 70 Years
Policy Term
20 years
20 years
Premium
Paying Term
20 Years
15 Years
Premium mode
Yearly, Half-yearly, Quarterly,
Monthly (SSS or ECS)
Yearly, Half-yearly, Quarterly,
Monthly (SSS or ECS)
Basic Sum
Assured
50,000 and above
Minimum
Sum
Assured
modified
1,00,000 and above
( In multiples of 5000)
Premium
Paying
term
modified

6. LIC’s New Money Back Plan -20 years ~ Rebates
Rate
modified
Rebate
Mode
Plan No. 75
Plan No. 820
Yearly
3% of tabular Premium
2% of tabular premium
Half-yearly
1.5% of tabular premium
1% of tabular premium
Quarterly
Nil
Nil
Slab & Rate
modified
Money Back Plan -20 years
Plan No. 75
New Money Back Plan – 20 years
Plan No. 820
Basic Sum Assured
Rebate (Rs.)
Basic Sum Assured
Rebate (Rs.)
1,00,000 and above
2.00‰ SA
5,00,000 and above
3.00‰ BSA
50001 to 1,00,000
1.00‰ SA
2,00,000 to 4,95,000
2.00‰ BSA
Upto 50000
Nil
1,00,000 to 1,95,000
Nil

7. LIC’s New Money Back Plan -20 years ~ Loan
Money Back Plan -20 years
Plan No. 75
New Money Back Plan – 20 years
Plan No. 820
Available after payment of 3 full years
Available after payment of 3 full years premiums.
% of loan
modified
premiums.
Loan granted shall be 90% of the
The maximum amount of loan that can be granted
Surrender Value in case of inforce
as a percentage of Surrender Value be as under:
policies and 85% of the Surrender Value
For inforce and fully paid-up policies – upto 90%
in case of Paid-up policies.
For paid-up policies – 80%
Foreclosure action shall be initiated on
Foreclosure action shall not be taken under fully
default of 2 or more half-yearly loan
paid-up and inforce policies even if there is
interest installments.
default of loan interest.

8. LIC’s New Money Back Plan -20 years ~ Surrender Value
Plan No. 75
Plan No. 820
Guaranteed Surrender Value (GSV)
Guaranteed Surrender Value (GSV)
No
Change
Available after payment of 3 full years
premiums.
Available after payment of 3 full years
premiums.
Before Payment of Survival Benefit:
GSV shall be equal to 30% of the total
premiums paid less First Year Premium and
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
extra premium, if any.
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.
Less any survival Benefits already paid.
Examples of GSV factors applicable for total
premiums paid
Policy Year ~ GSV factor
3 = 30%
5 = 50%
t -1 = 80% (t=Policy Term)
GSV %
modified
Cash Value of vested bonuses, if any.
Bonus
Payable
modified
GSV factor applicable to vested bonus, if any.
Examples of Vested bonus factors –
Year of SV – Factor
3
10
19
16.21%
18.16%
30%

9. LIC’s New Money Back Plan -20 years ~ Surrender Value
No change in SSV
Money Back Plan -20 years
Plan No. 75
New Money Back Plan – 20 years
Plan No. 820
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 Table1A 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 Table1A 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.

10. LIC’s New Money Back Plan -20 years
New Money Back Plan – 20 years
Plan No. 820
Money Back Plan -20 years
Plan No. 75
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.
There shall be no change in
the following Items
Back Dating
Grace Period
Assignment/Nomination