Let’s know about LIC New Money Back Policy
This money back plan of LIC is a non linked life insurance policy. Which gives guaranteed returns and bonuses. The specialty of this plan is that the insurer gets money back in 5 years, better returns in maturity, as well as tax insurance benefit every year.
The amount received on maturity is tax freeYou will get 2 options of 20 years and 25 years to take this plan. This policy is a completely tax free policy. In addition, there will be no tax on the amount received on its interest, premium payment and maturity. If you invest 160 rupees every day for 25 years in this plan, then after 25 years you will get up to 23 lakh rupees.
Those aged 13 to 50 years can take benefits
According to LIC, anyone from 13 years to 50 years can take this plan. In this plan, every fifth year i.e. 5th year, 10th year, 15th year, 20th year, 15 20% money back will be available. But this will only happen when at least 10 percent of the premium will be deposited. With this, investors will be given a bonus on maturity. Accidental death will also be available in this plan for a total of Rs 10 lakh. On maturity, investors will also be given a bonus.