New Money Back Plan - 20 Years - 820

New Money Back Plan - 20 Years : This is a money back plan which provides periodical returns of survival benefits during the policy term. In this plan 20% of the sum assured is payable at the end of 5th,10th and 15th year of the policy term, and the balance of 40% plus the accrued bonuses becomes payable at the 20th year.

In the event of death at any time within the policy term, the death claim comprises full 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 15 years
• Double Tax Benefit u/s 80 C and u/s 10 D
• Death risk cover is 125% of the basic sum assured
• Additional accidental sum assured
• Loan is available against this plan

Periodical Survival Benefits:

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

Benefits:

On Survival

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

1. 125% of the Basic Sum Assured
2. Additional Accidental Sum Assured
3. Simple Revisionary Bonus
4. Final Additional Bonus (if any)

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

Example : 

If any one at age of 25 Years want to take this policy with Sum Assured of 5,00,000/- for 20  years need to pay 37492/- Per Year

Survival Benefits
5th year   -  Rs 1,00,000.00 (20% of 2,00,000/-)
10th year  - Rs 1,00,000.00 (20% of 2,00,000/-)
15th year  - Rs 1,00,000.00 (20% of 2,00,000/-)

20th year  - Rs 2,00,000.00 (40% of 2,00,000/-)  +
                        3,90,000.00 ( Accrued Bonuses ) +
                           20,000.00 ( Final Additional Bonus)
   Total Around  : 6,10,000.00/-  on 20th  Year

 Policy will close 
                            On Death
If policy holder dies during the policy term then Nominee will receive 125% of sum assured along with the accrued bonuses. Any survival benefit which has been already paid will not be deducted.


    6,25,000/-   (125% Sum Assured )+
   3,90,000/- ( Accrued Bonuses ) +
  
Total Around : 10,15,000/- + Already Survival Benefit Paid
 
Policy will close
On Accidental Death
If policy holder dies due to an accident, during the policy term then Nominee will receive the 125% of Sum assured + Additional accidental Sum assured + Accrued bonuses. 
Any survival benefit which has been already paid will not be deducted.

  6,25,000/-   (125% Sum Assured )+
  5,00,000/-   ( Accidental Sum Assured )+
   3,90,000/-   (Accrued bonuses)

Total Around  :15,15,000/-+ Already Survival Benefit Paid