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LIC New Money Back 20 Years Plan (920) Maturity Calculator
Calculate premium, Survival Benefits (Money-Back), year-wise Life Cover, surrender value of LIC New Money Back 20 Years Plan (920) as per Sum Assured, Age and Term.
About New Money Back 20 Years Plan (920)
New Money Back 20 Years Plan (920) is traditional money back plan in which premium is required to be paid for 15 years and final maturity happens after 20 years. It is available for age group between 13 to 55 years.
Money Back and Maturity: Maturity and survival benefits are given in the following table.
| MONEY BACK & MATURITY DETAILS | ||
|---|---|---|
| At the End of 5th Policy Year | 20% of Basic Sum Assured | |
| At the End of 10th Policy Year | 20% of Basic Sum Assured | |
| At the End of 15th Policy Year | 20% of Basic Sum Assured | |
| Maturity at the End of 20th Policy Year | 40% of Basic Sum Assured + Bonus +FAB | |
Life Cover (Death Benefit): Death claim is 125% of Basic Sum Assured + Simple Revisionary Bonus Accrued till the time of death + Final Additional Bonus (if any).
Surrender value: Once the premium of first 2 policy years is paid, New Money back 20 years plan (920) becomes eligible for Guaranteed Surrender Value (GSV), which is equal to part of total premium paid + part of total accumulated Bonus. Above calculator also shows year-wise surrender values which is based on surrender clause available in the policy document of New Money back (920) plan.
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