Lic Money Back Policy Table75 and Table 93

• Table 75: W.e.f. 01-09-1976
• Table 93: W.e.f. 01-09-1986

MoneyBack plan is suitable for professionals and businessmen as money available at regular intervals. Once in a 5 years, a portion of SA viz., Survival Benefit is paid as a percentage. Life risk cover for the entire sum assured even after payment of survival benefit. The life assured should have attained majority at the time of first survival benefit.

Lic Money Back General Conditions:

• Min. age at entry:  13 years.
• Max. age at entry:  50 years.
• Min. S.A.: Rs. 50,000
• Max. SA.: Any Amount.
• SA in multiples: Rs. 5000
• Max. Maturity age: 70 years.
• Min Term: 20 years.
• Max Term: 20/25 years.
• Modes Allowed: All
• Accident benefit per 1000 SA: Re. 1 extra.

Requirements in writing:

• Age proof:   Standard (NSAP-1/2/3)
• Form Number:  300/340
• Female lives category: I/II/III
• Dating Back @ 8%: Allowed
• Non-Medical General:   Allowed
• Non-Medical Professional:  Allowed
• Non-Medical Special:  Allowed
• Risk Coverage:  SA + Bonus
• Actual Sum Assured: Basic SA

Policy Servicing:

• Term Rider Option: Yes.
• Critical Illness Rider: Yes.
• Policy Loan @9%: Yes.
• Assignment: Yes.
• Revival: Yes.
• Surrender of Policy: Yes.
• Survival Benefits: Yes.
• Housing Load: Yes

Money Back Policy Benefits:

• Maturity Benefits: Bonus is given for the full sum assured amount for lic table 75 and lic table 93.
• Death Benefits: Bonus + Full SA is paid to nominee before the policy term ends in case of death. In case of death claim, the survival benefit already paid is not deducted if any.

Following reinvestment tables will give an idea of the total amount available at the end of the term. If the survival benefits are re-invested at 9% interest compounded annually in Banks/company Deposits/Mutual funds/RBI bonds etc…

Reinvestment Table for plan Table 93-25, for 1 lakh SA

Survival Benefit	5 Years	10 Years	15 Years	20 Years	25 Years
I	15,000	23,079	35,510	54,637	84,066
II	-	15,000	23,079	35,510	54,637
III	-	-	15,000	23,079	35,510
IV	-	-		15,000	23,079
Maturity	-	-	-	-	40,000
Bonus @Rs 44 per 1000SA	-	-	-	-	1,10,000
FAB @Rs. 100 per 1000 S.A.	-	-	-	-	10,000
Total	15,000	38,079	73,589	1,28,226	3,57,292

.

Reinvestment Table for plan Table 75-20, for 1 lakh SA
Survival Benefit	5 Years	10 Years	15 Years	20 Years
I	20,000	30,772	47,347	72,850
II	-	20,000	30,772	47,347
III	-	-	20,000	30,772
Maturity	-	-	-	40,000
Bonus @Rs 39 per 1000SA	-	-	-	78,000
FAB @Rs. 75 per 1000 S.A.	-	-	-	7,500
Total	20,000	50,772	98,119	2,76,469

 

Examples:

1. Mr. Yadav takes a Money back Policy for 25 years for rs. 1 lakh under table 93-25. he receives rs 15,000 each at the end of 5th, 10th, 15th, & 20th year. In the 25th year, he receives a balance Rs. 40,000 + Bonus of rs. 1,10,000 at an estimated Rs. 44 per 1000 SA + Final Additional Bonus of Rs 10000. Totally, Mr yadav will receive Rs. 1,60,000. the above table will gives an insight for reinvestment.
   In case Mr. Yadav dies during 12th year, his nominee will get Rs 1,52,800 (rs. 1,00,000 SA + Rs 52,800 Bonus). The survival benefit already paid during 5th and 10th year will not be deducted.
2. Mr. Yadav takes a Money back Policy for 20 years for rs. 1 lakh under table 75-20. He receives rs 20,000 each at the end of 5th, 10th, & 15th year. In the 20th year, he receives a balance Rs. 40,000 + Bonus of Rs. 78,000 at an estimated Rs. 39 per 1000 SA + Final Additional Bonus of Rs 7500.
   In case Mr. Yadav dies during 12th year, his nominee will get Rs 1,46,800 (rs. 1,00,000 SA + Rs 46,800 Bonus @ an estimated 39 per 1000 SA). The survival benefit already paid during 5th and 10th year will not be deducted. The survival benefit already paid during 5th & 10th year will not be deducted

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