LIC’s best plan: Make a son or daughter a millionaire in just 151 rupees, know the special features

What is the death benefit rule?

Under the death benefit (death benefits in LIC Money Back Plan), if the policyholder dies during the policy term, there is a provision to pay a vested simple reversionary bonus and a final additional bonus, in addition to the sum assured. . Another special feature of this policy is that the death benefit cannot be less than 105 percent of the total premium paid.

What is the calculation?

  • Annually – 55239 (52860+2379)
  • Semi- 27917 (26715+1202)
  • Quarterly – 14108 (13500+608)
  • Monthly: 4703 (4500+203) YLY Mode Average Premium Rs. 151/day

Excellent return on money back maturity every 5 years, along with tax-insurance benefit gift

LIC Money Back Plan: The age limit for this plan is minimum 13 years and maximum 45 years. The total tenure of the scheme is 25 years. In this, you will get 15 percent assured (money back) in 5th, 10th, 15th and 20th year.

First year premium with 4.5% tax

If you want to invest a little and get a lot of benefits in return, it can be done through the Life Insurance Corporation of India (LIC). Although LIC offers many types of plans, there are many benefits under LIC’s 25 Year Money Back Plan (Plan No. 821). The special thing is that this plan offers money back every 5 years, good return on maturity, along with gift of tax-insurance benefits to the insurer. LIC’s Money Back Plan is a non-linked life insurance policy that offers guaranteed returns and bonuses. In this plan you have to pay premium for only 20 years, while your policy continues for 25 years. You will get a total of Rs 23,25000 on this plan.
If you are thinking of investing in LIC then this plan will give you many benefits. Now the question in all of our minds will definitely be how to get these benefits, how much we have to invest, if the policyholder dies suddenly, will the money get or not? Let’s know every detail of this plan:-

First year premium with 4.5% tax

Annual: Rs. 63251
Half Yearly: Rs. 31958
Quarterly: Rs. 16145
Monthly: Rs. 5382
Daily: Rs. 173

Premium after 1st year with 2.25% tax
Annual: Rs. 61889
Half Yearly: Rs. 31270
Quarterly: Rs. 15798
Monthly: Rs. 5266
Daily: Rs. 169 (LIC does not offer any daily premium option)

As per above calculation, if you pay premium for full 20 years, you will have to pay Rs 1239142.

Bonus: Rs. 1100000
Final Additional Bonus: Rs. 225000
Total return on maturity: Rs.2325000

(After the maturity of this plan, you will get a total of 2325000 i.e. your deposit is twice the total premium (10 lakh).)

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