Money Back Plan
The money-back policy from Life Insurance Corporation of India is a popular insurance plan. In a money back plan, the insured person gets a percentage of sum assured at regular intervals by way of survival benefits instead of getting the lump sum amount at the end of the term. It is an endowment plan with the benefit of liquidity.
This policy is suitable for risk-averse individuals who wish to save through an insurance plan and also maintain liquidity throughout. In case of death of the insured person, the nominee gets the entire sum assured (together with vested bonuses) and the survival benefit installments paid are not deducted.
Some important Money Back Endowment plans are given here::
| Sr. No. | Product Name | Date of Launch | Plan No | UIN No |
|---|---|---|---|---|
| 1 | LIC's Dhan Rekha | 13.12.2021 | 863 | 512N343V01 |
| 2 | LIC's New Bima Bachat | 18.01.2021 | 916 | 512N284V02 |
| 3 | LIC's NEW MONEY BACK PLAN - 20 YEARS | 01.02.2020 | 920 | 512N280V02 |
| 4 | LIC’s NEW MONEY BACK PLAN - 25 YEARS | 01.02.2020 | 921 | 512N278V02 |
| 5 | LICs Jeevan Umang | 01.02.2020 | 945 | 512N312V02 |
| 6 | LIC's NEW CHILDREN'S MONEY BACK PLAN | 01.02.2020 | 932 | 512N296V02 |
| 7 | LIC's Jeevan Tarun | 01.02.2020 | 934 | 512N299V02 |
| 8 | LIC's Jeevan Shiromani | 01.02.2020 | 947 | 512N315V02 |
| 9 | LIC's Bima Shree | 01.02.2020 | 948 | 512N316V02 |