Money Back Policy Twenty Years:

The Money Back Policy is a plan where one can receive survival benefits while alive, periodically at regular intervals during the policy term itself.  In other insurance plans this is not done.  

In a twenty-year money back policy, you will receive twenty percent of the sum assured after the fifth, tenth, fifteenth and twentieth years. 

At the end of the twentieth year, the remaining forty percent of the sum assured will be paid to you. Premiums monthly, quarterly, half yearly, or annually can be paid either personally or through salary.

You will receive the following benefits if you buy LIC’s Money Back Policy – Twenty Years:
On death of the life insured, this plan provides for the beneficiary the sum assured along with all the bonuses, even though some survival benefits have been received previously.

At the time of maturity, the life insured will receive the sum assured as well as he will receive as a lump amount of all the bonuses that are applicable to him during the policy term.

This plan also has supplementary benefits for which you have to pay additional premiums.  You will receive additional protection and benefits by opting for these supplementary benefits.

You are permitted to surrender your policy if you wish to do so after you have completed three full policy years.  On doing so you are eligible to receive the guaranteed surrender value.

LIC’s Money Back Policy – Twenty Years is a policy which secures your life as well as your family against death by providing superior financial security so that your financial obligations can be taken off without any problems.  

Since it has the facility of providing sums of money at regular intervals, your immediate necessary needs can be taken care of at that time. This plan would surely suit a salaried person and their family.

It works well, especially when one is in real need of money for some urgent commitment.