LIC New Money Back Plan 720 (20 Years) is a traditional, participating money-back policy designed for individuals seeking regular payouts along with life insurance protection. This plan provides survival benefits at fixed intervals, ensuring liquidity during important milestones while offering a lump-sum maturity benefit and bonuses. It is a reliable choice for people looking to combine savings, protection and guaranteed returns.
This plan is a 20-year money-back insurance policy that provides periodic payouts during the policy term. In addition to the money-back benefits, the plan offers life cover throughout the policy duration and a maturity benefit at the end of 20 years. It is suitable for individuals who want regular financial support during key life stages.
• Guaranteed Money Back Payouts: Survival benefits are paid at fixed intervals during the policy term.
• Life Insurance Coverage: Provides protection throughout the 20-year policy term.
• Participation in Profits: Eligible for simple reversionary bonuses and final additional bonus.
• Maturity Benefit: Lump-sum amount payable at the end of the term, excluding previously paid money-back amounts.
• Loan Facility: Option to avail loans against the policy after a minimum premium-paying period.
• Flexible Premium Options: Choice of yearly, half-yearly, quarterly or monthly payments.
Under this plan, policyholders receive money-back payouts at regular intervals:
• Survival benefits are paid during the policy term at scheduled years.
• At the end of 20 years, the remaining maturity amount along with bonuses is paid.
This structure supports education expenses, family needs, celebrations and personal financial goals without interrupting long-term savings.
In case of the unfortunate death of the policyholder during the term, the nominee receives:
• Sum Assured on Death
• Accrued Simple Reversionary Bonuses
• Final Additional Bonus (if applicable)
Previously paid survival benefits are not deducted from the death benefit, ensuring full protection for the family.
This plan is ideal for:
• Individuals needing periodic financial support
• Parents planning for children's education milestones
• People who prefer low-risk savings with guaranteed returns
• Anyone wanting combined insurance and liquidity benefits
• Tax benefits under Section 80C and Section 10(10D)
• Suitable for long-term savings goals
• Offers financial stability and family protection
• Reliable plan backed by LIC’s strong reputation
LIC New Money Back Plan 720 (20 Years) is a dependable savings and protection plan that delivers both periodic payouts and long-term maturity benefits. With guaranteed returns, life insurance coverage and participation in LIC’s bonus profits, it offers a balanced financial solution for individuals and families. This plan is a strong choice for those seeking liquidity, safety and financial security for future milestones.