Buy LIC Money Back Policy online

As an investor if you are looking at enjoying the benefits of your investment without having to wait till the final maturity period, then Money back policies are worth your consideration. These plans offer a guaranteed sum of money known as survival benefits and these small sums of money are paid back at fixed periods during the tenure of the policy. This is paid in addition to the Maturity and death benefits LIC Money Back Policy Death Benefits(Policy Claims & Maturity Pay-outs of the insurance policy.

A money back plan LIC Money Back Policy Benefits(link to benefits section) serves to provide you an insurance cover along with a source of income during important stages of your lifetime.

No. The amount received through a money back policy is tax-free as per section 10(10D) of the Income-tax act 1961.

Before you proceed with a money back plan, consider your financial goals and understand at what stage or the milestones when you will need the money. Consider your current financial obligations and ability to invest and the time period for which you want to stay invested.

Money back plans can be considered by people who are young and do not want to risk their investments in stock markets and want to build wealth and also provide life cover for themselves and family can consider to buy Money back policies from LIC of India.LIC

The major difference between Endowment and Money-back insurance plans Difference between Endowment and Money-back insurance is that while an endowment policy pays the investment benefit at the end of the policy term, a money-back policy provides the investment benefit at regular intervals throughout the policy term.

In Money back policy, Part of the Sum assured is paid at regular intervals before maturity of the policy, say for example in LIC Money back is paid every 5 years.

Money back policy can be brought by business man, Self employed, professionals and salaried class. So that, they can reinvest the money back amount (or) can adjust towards future premiums.

In LIC money back plansLIC Money Back Policy for 20 Years: (1) Money back can be taken from age 13 years to 50 years (2) Fixed money back amount is paid every 5th year (3) Lumpsum money is paid at maturity of policy (4) Can claim Income tax benefit LIC Money Back Policy 20 Years Tax Benefit u/s 80C for premiums paid (5) All money back payment and maturity proceedings are tax free u/s 10,10D (6) Loan available (7) Option to surrender the policy.

Accident rider & permanent disability rider is available.

Premiums paid upto Rs.1,50,000/- can be claimed u/s 80C and all Money back and Maturity proceedings are tax free u/s 10,10D.

Money back policy can be brought by business man, Self employed, professionals and salaried class. So that, they can reinvest the money back amount (or) can adjust towards future premiums.

Your policy will be lapsed and Insurance coverage will stop.

You can choose to pay Monthly/ Quarterly/ Half-yearly/ Yearly.

Advantages are :
(1) Money back amount is paid every 5th year
(2) Lumpsum money is paid at maturity of policy
(3) Can claim Income tax benefit u/s 80C for premiums paid
(4) All money back payments and maturity proceedings are tax free u/s 10,10D
(5) Loan available
(6) Option to surrender the policy.