LIC Money Back Plan 820

Eligibility Conditions and Restrictions

  • Minimum Age at entry : 13 Years.
  • Maximum Age at entry : 50 years.
  • Age at Maturity : 70 Years.
  • Plan Term : 15 Years.
  • Premium Mode : Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS).
  • Basic Sum Assured :
    1,00,000 and above (In multiples of 5000)

Maturity Benefit

  • 40% of the Basic Sum Assured 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 .

Survival Benefit

Policy Year 5th 10th 15th
Survival Benefit Payable 20% 20% 20%
High Sum Assured Rebate
Basic Sum Assured Rebate (Rs.)
5,00,000 and above 3.00% BSA
2,00,000 to 4,95,000 2.00% BSA
1,00,000 to 1,95,000 Nil

LIC’s money back Plan 820 — Loan

♦  Available after payment of 3 full years premiums.
♦ The maximum amount of loan that can be granted as a percentage of Surrender Value be as under: For inforce and fully paid-up policies — upto 90% For paid-up policies — 80%

LIC’s money back Plan 820 — Surrender Value

♦ Guaranteed Surrender Value (GSV).
♦ Available after payment of 3 full years premiums.
♦ Special Surrender Value (SSV).
♦ 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 Table-1A 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
♦ The Higher of Guaranteed Surrender Value and Special Surrender Value shall be payable.
Note : Service Tax shall be applicable at the prevailing rates and borne by the policyholder as per rules.

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