LIC’s new plans 2014-New Moneyback Plans (No.820 and No.821)

Today LIC launched two new money back plans. One is New Moneyback Plan of 20 Yrs (No.820) and another is New Moneyback  Plan of  25 Yrs (No.821). These two are the new versions of old plans Moneyback Plan 20 Yrs (No. 75) and Moneyback Plan 25 Yrs (No.93). Below are the features of the same.

1) New Money Back Plan 20 Yrs (No.820)

New Money Back Plan 20 Yrs (No.820)

2) New Money Back Plan 20 Yrs (No.821)

New Money Back Plan 25 Yrs (No.821)

What are the changes?

  • Death Benefit
  • Paid Up Value
  • Premium Paying Term
  • Minimum Basic Sum Assured
  • Rebate on premium paying mode
  • Rebate on higher Sum Assured
  • Loan availability
  • Guaranteed Surrender Value definition
  • Revival concession on lapsed policies
  • Taxes

But the major changes all looking at will be, whether these are costlier to older plans or what? The answer is, as of now we are unable to judge. We will come to know within a few days about this.

 

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Comments

  1. MAKRAND PANDE says

    Dear Sir,

    Glad to see your site,there are very people who feels Need Based Approach is very significant in sales process.I called it Process,as actually it is not far different than treatment given by a doctor to patient after diagnosis of disease.
    I’ll be in touch with you to exchange knowledge.

  2. raj k says

    dear sir,
    finally what is your conclusion shall we proceed with this policy as per your last post of endowment policy you hav recomend to stay away,
    and another querry of or still we wait & watch for new products.at what period we hav to wait for reviews.

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