LIC’s Money Back Policy is a non-linked plan that gives pay-outs at specific intervals. These pay-outs are made during the policy tenure as a certain percentage of the basic sum assured.
Features
1) Risk coverage: 125% of Basic Sum Assured
2) Liquidity at different stages: 20% of Basic Sum Assured in 5th, 10th & 15th policy year.
3) Maturity benefit: 40% of Basic Sum Assured + Bonuses after 20 years.
4) Limited Payment term: 15 years only
4) Optional riders available are –
A. Accidental Death and Disability Benefit Rider B. Accident Benefit Rider
C. Term Assurance Rider D. Critical Illness Rider