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LIC Money Back Policy Premium Calculator Chart | Maturity Returns Benefits

LIC introduced LIC Money Back Policy 20 years premium calculator. It is the very easy way to calculate the premium. In recent days the most popular and highest sold policy of LIC is Money Back Policy. The payment of premium has four modes such as yearly, half-yearly, quarterly, monthly. The amount will be back with the death or maturity whichever is first happen, for the sum assured by the policyholder. The LIC Money Back Policy premium calculator helps to illustrate the maturity, survival and death benefit, the investor’s age, policy, time period, sum assured etc played a major role. We can have a clear knowledge about natural death coverage, accidental death coverage, cash value, bonus, tax savings etc by premium calculator of LIC Money Back Policy. To take entry in this policy a person has to be at least 15 years old. 50 years is the maximum age to investment in this policy. The policy term of LIC Money Back Policy is 20 years. The maturity age is maximum 70 years. The basic sum assured to the policyholder has a minimum value, i.e. Rs 100000. There is no limit in maximum value.

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How to use LIC Money Back Policy premium calculator

It is very easy to use the LIC Money Back Policy premium calculator. The LIC, to do the calculations asked the investor to fill up the information only. The Money Back Policy of 20 years can be bought by a person with the age of 15 years to 50 years. The maturity benefits, as well as the death benefits, are allowed by LIC for the Money Back Policy. It helps many policyholders to protect and save the investment. So it is a very much friendly manner in nature.

LIC Money Back Policy premium calculator and maturity amount with service tax

The maturity amount of LIC Money Back Policy is the total of sum assured, simple bonuses and final additional bonus. Rs 100000 is the Minimum sum assured amount. The sum assured should be in multiples of Rs 5000. The policy can be surrendered by the policyholder after one year. 70 years is the maximum maturity age. There are survival benefits present every five years.

With LIC Money Back Policy premium, LIC also add the service tax 3.09%. Income tax reduction is available under section 80C with the payment of policy premium. The facility of income tax reduction under section 10(c) is also present with maturity returns.