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)
2) New Money Back Plan 20 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
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.