NEW MONEY BACK PLAN - 25 YEARS

New Money Back - 25 Years (Plan No. 821)
This is a money back plan which provides periodical returns of survival benefits during the policy term. In this plan 15% of the sum assured is payable at the end of 5th, 10th, 15th and 20th year of the policy term, and the balance of 40% plus the accrued bonuses becomes payable at the 25th year.

In the event of death at any time within the policy term, the death claim comprises 125% of the sum assured without deducting any of the survival benefit amounts, which have already been paid. Similarly, the bonus is also calculated on the full sum assured. 

Features

• Survival Benefits are paid periodically
• Balance of the sum assured along with accrued bonuses is paid at the end of policy term
• Premium payment term is only 20 years
• Double Tax Benefit u/s 80 C and u/s 10 D
• Death risk cover is 125% of Sum Assured
• Additional accidental sum assured
• Loan is available against this plan

Eligibility Conditions

Minimum age at entry	13 years
Maximum age at entry	45 years
Policy Term	25 years
Premium Payment Term	20 years
Maximum age at maturity	70 years
Minimum sum assured	Rs 1,00,000/-
Maximum sum assured	No higher limit

Periodical Survival Benefits

Year of Policy Term	Percentage of Sum Assured
5th year	15% of Sum Assured
10th year	15% of Sum Assured
15th year	15% of Sum Assured
20th year	15% of Sum Assured
25th year	40% of Sum Assured + Accrued Bonuses

Double Tax Benefit

U/S 80 C  : Premiums paid under this plan are eligible for tax rebate u/s 80C

U/S 10(D) : Maturity Returns / Death claim amount is also tax free u/s 10 (D)

Possible Events during Policy Term

On Survival

If the policy holder survives the policy term, he/she will receive survival benefits as below:
5th year   - 15% of Sum Assured
10th year  - 15% of Sum Assured
15th year  - 15% of Sum Assured
20th year  - 15% of Sum Assured

25th year  - 40% of Sum Assured + Accrued Bonuses

On Death

If the policy holder dies during the policy term, his/her nominee will receive:

1. 125% of the sum assured
2. Simple Reversionary Bonus
3. Final Additional Bonus (if any)

The periodical survival benefits which have already been paid will not be deducted.

On Accidental death

If during the policy term, the policy holder dies due to an accident, his/her nominee will receive:

1. 125% of the sum assured
2. Additional accidental sum assured
3. Simple Reversionary Bonus
4. Final Additional Bonus (if any)

The periodical survival benefits which have already been paid will not be deducted.

Understand New Money Back Plan - 25 Years with an example

Mr. Ajay is a 28 years old working professional. He buys New Money back plan - 25 years for the sum assured of Rs 5,00,000/- (Rupees Five Lakhs only). He is required to pay annual premium of Rs 29,860.00 (Rupees Twenty Nine Thousand Eight Hundred and Sixty only) for 20 years.

Survival Benefits
5th year   - Rs 75,000.00 (15% of 5,00,000/-)
10th year  - Rs 75,000.00 (15% of 5,00,000/-)
15th year  - Rs 75,000.00 (15% of 5,00,000/-)
20th year  - Rs 75,000.00 (15% of 5,00,000/-)
25th Year  - Rs 2,00,000.00 (40% of 5,00,000/-) + Accrued Bonuses

On Death
If Mr. Ajay dies during the policy term, his nominee will receive 125% of the sum assured along with the accrued bonuses. Any survival benefit which has been already paid will not be deducted.

On Accidental Death
If Mr. Ajay dies due to an accident, during the policy term, his nominee will receive the 125% of the Sum assured + Additional accidental Sum assured + Accrued bonuses. 
Any survival benefit which has been already paid will not be deducted.