LIC’s Money Back Plan – 20 Years Term
- Survival Benefit: Guaranteed 20% Basic Sum Assured after the completion of 5,10 & 15 Years.
- Maturity Benefits: Guaranteed 40% Basic Sum Assured together with vested bonuses & FAB, if any will be payable on the stipulated date of maturity.
- Death Benefits: On the death of Life Assured during the term of the policy, ‘The sum assured on death’ together with vested bonus and FAB, if any, will be payable. [The sum assured on death will be the higher of 125% of Basic Sum Assured or 10 times of the annualized premium). This death benefit shall not be less than 105% of total premium paid as on date of death.
- Optional Accident & Disability Benefits are available subject to payment of additional premium of Tk. 1 per 1000 AB SA irrespective of age (Tk. 1.50 per 1000 AB SA for persons employed in Police,Paramilitary force etc.)
- Salient Features:
- Plan Available for Ages: 13 years(Completed) to 45 Years (Nearest Birthday)
- Maximum Age at Maturity: 70 Years
- Policy Term: 20 Years (Fixed)
- Premium Paying Term: 15 Years (Fixed)
- Minimum Sum Assured: 1 Lac (in multiples of 5000)
- Maximum Sum Assured: No Limit
- Mode Rebate: Yearly 2%,Half Yearly 1% (Both on tabular premium)
- Premium Can Be Paid: Yearly/Half Yearly/Quarterly/Monthly(BEFTN)
- HIGH SUM ASSURED Rebate: 2 Lac to 4.95 Lac – 2 per 1000 Basic Sum Assured- 5 Lac & Above – 3 per 1000 Basic Sum Assured
- Guaranteed Surrender Value, Special Surrender Value, paid up value will be available after 3 full years premiums are paid.
- Loan: Loan facility available after 3 full years premiums have been paid.
- Revival: Lapsed policy can be revived within 2 years from date of first unpaid premium.