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LIC’s Money Back 20 Plan Table No. 820

LIC’s Money Back 20 Table No. 820 is a plan with a Limited premium paying terms of 15 Year, money back, non-linked Endowment and Assurance Plan with Profit.

Money back of 20% of Basic Sum Assured will take place after completion of 5, 10 and 15th (3 times, 20 %) year of the policy. Remaining 40 % amount of basic sum assured and additional bonuses will be paid to the policy holder at maturity of the policy.

Sum Assured: Minimum limit for the sum assured is Rs. 1,00,000/- and there is no maximum limit.

Policy Term: 20 Year

Premium Paying Term: 15 Year.

Entry Age: 13 years to 50 years.

Maximum Maturity Age: 70 Years.

Premium Payment Mode: Premium can be paid Monthly, Quarterly, Half Yearly or Yearly.

Money Back: Money back at the rate of 20 % of Basic Sum Assured will be paid to the policy holder at the interval of 5 years to the policy holder.

Maturity Benefits: on maturity, Remaining 40 % of basic sum assured along with vested simple reversionary bonus and the final additional bonus is paid to the policy holder.

Death Benefits: 

If the Death happens after the commencement of risk, the nominee will get:
Base Sum Assured + Simple Reversionary Bonus (every year) + Final Additional Bonus (applicable in the year of death)

Rider benefits:  Accidental Death benefit is available during the policy term; accident benefit sum assured will be paid along with death benefit under the basic plan. Disability benefits are paid till 70 years of age of the policy holder

Income Tax Benefit: Premium paid in this policy is tax exempted under section 80C. The maturity benefits are also exempted from tax under section 10(10D).

Liquidity Benefit: Policy holder can take loan under this policy after completion of 3 full years of the Policy.

For simplicity study following table

PlanMoney Back 20
Table820
Min Age13 Year
Max Age50 Year
Max Maturity Age70 Year
Policy Term20 Year
Premium Paying Term15 Year
Min Sum AssuredRs. 1,00,000/-
Max Sum AssuredAny
Payment ModeAll
LoanYes
Surrender3 Years

An example of LIC’s Money Back 20 Table No. 820

Following is the illustration of this plan taking the age of the policy holder as 30 year and basic sum assured amount as Rs. 10,00,000/-

“Money Back 20” Table 820

Basic Sum Assured: Rs. 10,00,000/-

PlanMoney Back 20
Table820
Age30
Premium Paying Term15
Policy Term20
Basic Sum AssuredRs. 10,00,000/-
Double Accidental BenefitRa. 10,00,000/-
Death Sum AssuredRs. 12,50,000/-
Premium First YearRs. 79,125/-
Premium second Year OnwardsRs. 77,422/-
Total Premium PaidRs. 11,63,033/-
Money Back At the Year5, 10, 15
Money back %20%
Total Money BackRs. 2,00,000/- X 3 Time
Maturity ReturnRs. 12,20,000/-
Total ReturnRs. 18,20,000/-
Life Time CoverNA

Above Calculations are approximate and according to current bonus rate. It may vary according to the rate of bonus and taxes.

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