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LIC Money Back Policy Premium Calculators

LIC Money Back Policy Premium Calculators - The money-back policy from Life Insurance Corporation in India (LIC) is a most popular insurance policy in India. It offers life coverage during the term of the policy and the maturity benefits are paid in installments by way of survival benefits in every 5 years. The Money Back Policy plan is available with 20 years and 25 years term. In terms of death within the policy term, the death claim is made up of full sum assured without deducting any of the survival benefit amounts already paid. The bonus is also calculated on the full sum assured. The premium paid is tax deductible under section 80C of Income Tax Act 1961.

 

Step-by-Step Process (LIC Money Back Policy Premium Calculators)

  1. Select Plan
  2. Enter Age
  3. Sum Assured
  4. For Accidential benefits, Mark on Check Box.
  5. Click to Calculate Button

Document required are;

  • Application form/proposal form with photo
  • Address proof
  • Age Proof
  • Medical reports (if required)

Accident Death and Disability Benefit Rider

  • Minimum Age at entry : 18 years(Completed)
  • Maximum Age at entry : The cover can be opted for at any policy anniversary during the premium paying term.
  • Maximum Cover Ceasing Age : 70 years (nearest birthday)
  • Minimum Accident Benefit Sum Assured : Rs. 1,00,000
  • Maximum 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.

LIC Money Back Policy Premium Calculators