Life Insurance

LIC Money Back Policy

LIC Money Back Policy

LIC Money Back Policy

Explore the benefits of LIC Money Back Policy and how it can provide you with financial security and regular payouts. This guide provides insights into the features, eligibility criteria, and advantages of this popular life insurance plan.


In the realm of financial planning, life insurance plays a crucial role in safeguarding your loved ones’ future and providing financial stability. Among the array of life insurance policies offered by the Life Insurance Corporation of India (LIC), the Money Back Policy stands out as a popular choice. This policy not only offers life coverage but also provides periodic payouts to policyholders. In this guide, we delve into the details of LIC’s Money Back Policy, helping you understand its features and benefits.

Understanding LIC’s Money Back Policy

In this section, we explore the key aspects of LIC’s Money Back Policy and how it works.

What is the Money Back Policy?

The LIC Money Back Policy is a non-linked participating life insurance plan that offers both life coverage and periodic payouts throughout the policy term.

Policy Benefits

The policy offers a combination of life coverage, survival benefits, and maturity benefits. It ensures that your family receives financial support even in your absence.

Survival Benefits

One of the unique features of the Money Back Policy is its survival benefit. The policyholder receives a percentage of the sum assured at specific intervals during the policy term.

Maturity Benefit

At the end of the policy term, if the policyholder survives, the remaining sum assured along with bonuses is paid out as the maturity benefit.

Death Benefit

In case of the policyholder’s demise during the policy term, the death benefit is paid to the nominee. This benefit includes the sum assured and accumulated bonuses.


The policy is eligible for simple reversionary bonuses and final additional bonuses, enhancing the overall payout upon maturity or death.

Eligibility and Premiums

To be eligible for LIC’s Money Back Policy, individuals must meet certain criteria:

  • Minimum Age: 13 years (for policy term 20 years), 14 years (for policy term 25 years)
  • Maximum Age: 50 years
  • Policy Term: 20 or 25 years
  • Premium Payment Term: 15 years (for policy term 20 years), 20 years (for policy term 25 years)

The premium amount depends on factors such as age, policy term, and sum assured. Premiums can be paid annually, semi-annually, quarterly, or monthly.

Advantages of LIC’s Money Back Policy

The LIC Money Back Policy offers several advantages that make it a popular choice among policyholders:

Regular Payouts

The policy provides periodic payouts, ensuring a steady stream of income to meet financial goals.

Dual Benefits

The policy offers both life coverage and savings, addressing the twin needs of protection and investment.


The survival benefits provide liquidity at specific intervals, allowing policyholders to fulfill short-term financial requirements.

Maturity Benefit

Upon surviving the policy term, policyholders receive the maturity benefit, including the sum assured and accrued bonuses.

Tax Benefits

Premiums paid towards the Money Back Policy are eligible for tax benefits under Section 80C of the Income Tax Act.

Loan Facility

Policyholders have the option to avail of loans against the policy’s surrender value, providing financial flexibility.

How to Apply for LIC Money Back Policy

Applying for the LIC Money Back Policy involves the following steps:

  1. Research: Understand the policy features, benefits, and terms to ensure they align with your financial goals.
  2. Documentation: Prepare the necessary documents, including identity proof, address proof, and age proof.
  3. Application Form: Obtain the LIC Money Back Policy application form from an LIC branch or online.
  4. Submission: Fill out the application form accurately and submit it along with the required documents.
  5. Medical Examination: Depending on your age and the sum assured, a medical examination may be required.

Q1.what is money back policy in lic ?

Sure, I’d be happy to help you understand the money-back policy in LIC. The money-back policy offered by LIC is a type of life insurance plan that provides periodic payouts to the policyholder during the term of the policy. This policy is designed to offer financial support at various stages of life, while also providing life coverage.

Q2.what is lic money back policy ?

The LIC Money Back Policy is a type of life insurance plan offered by the Life Insurance Corporation of India (LIC). This policy provides regular payouts to the policyholder at specific intervals during the policy term, while also offering life coverage. The key features of the LIC Money Back Policy include to claim lic money back policy online ?

Create an account on LIC’s official website by providing your policy details, personal information, and a valid email address. This will allow you to access your policy information online.You’ll need to upload supporting documents, such as a copy of the policy document, identity proof, bank details, and any other documents requested by LIC.

Review all the information and documents you’ve provided. Once you’re sure everything is accurate, submit the claim online.


LIC’s Money Back Policy offers a unique blend of life coverage and periodic payouts, making it a versatile choice for those seeking financial security and liquidity. By understanding its features, eligibility criteria, and advantages, you can make an informed decision to safeguard your family’s future and achieve your financial goals.

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