Review of LIC Money Back Policy

My husband bought the LIC Money Back policy many years ago. Recently, the policy matured and we received the maturity benefit. The amount we received from the plan helped us to plan for our children’s higher education without taking any additional loans. By Devika Sharma 

Read more
LIC Plans-
Buy LIC policy online hassle free
Tax saving under Sec 80C & 10(10D)^
Guaranteed maturity with life cover for securing family's future
Sovereign guarantee as per Sec 37 of LIC Act
LIC life insurance
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold
Now Available on Policybazaar
Grow wealth through
100% Guaranteed Returns with LIC
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on ''View Plans'' you, agreed to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

LIC Money Back policy is a unit-linked Endowment plan that is designed to offer investment cum life protection benefits throughout the term of the policy. The plan is no longer available for sale as it was withdrawn by the Life Insurance Corporation of India. However, those policyholders who had bought the plan before its withdrawal will be able to enjoy the benefits available under the plan.

LIC Money Back policy allows the policyholder to choose the level of cover within the limits. These limits will depend on whether the policy is a Single premium or a Regular premium. Let us explore more about LIC Money Back Plan and understand more about it.

Key Features of LIC Money Back Plans

  • Money-back plans increase the benefits payable through additional bonuses and loyalty additions.

  • Over the period of the policy, the sum assured is paid in installments at predetermined intervals.

  • Even if the money-back benefits have already been paid, the sum assured is also paid in the event of the insured's death.

  • To enhance the coverage provided, the policyholder can select riders by paying additional premiums. The riders available are Critical Illness Benefit Rider and Accident Benefit Option.

What is the Eligibility Criteria of the LIC Money Back Plan?

Parameters Minimum Maximum
Entry Age 0 years 65 years
Maturity Age 18 years 75 years
Policy Term 5 years 20 years
Sum Assured For Regular premium: Higher of 5 times the annualized premium or half of the policy term times the annualized premium. For Single Premium: 1.25 times the single premium. For Regular premium: 20 times the annualized premium if age at entry is up to 55 yrs. 10 times the annualized premium if age at entry is 56 yrs and above. For Single Premium: 5 times the Single premium if age at maturity is up to 65 years.

What are the Benefits of the LIC Money Back Plan?

  1. Death Benefit

    Death Benefit is paid to the nominee in case the policyholder dies during the policy term. The benefit paid is equal to the

    Higher of Sum Assured or the Fund Value of the units held in the Policyholder’s Fund Value* 

    **For the Life Assured of age less than 12 years before the commencement of risk, the Fund Value of units held in the Policyholder’s Fund Value shall be paid in case of death. 

  2.  Maturity Benefit

    Maturity Benefit is paid to the policyholder if he/she survives the maturity date of the policy. An amount equal to the Fund value of the units held by the Policyholder’s Fund Value is paid.

  3. Flexibility in Fund Selection

    The plan allows the policyholder to invest in the type of funds as per their needs and risk appetite. The plan offers 4 fund options such as: Bond Fund, Secured Fund, Balanced Fund and Growth Fund .

  4. Partial Withdrawals

    The policyholder has the option to partially withdraw the unit funds to meet your financial needs. The partial withdrawals are available after the third policy anniversary.

  5. Tax Benefits

    One can also avail tax benefits on the premiums paid under the LIC Money Back Policy.

To Sum it up

The LIC Money Back plan offered by the LIC of India is one of the best life insurance policies if you are looking for a plan with life protection and savings. With its several benefits the plan was designed to look after the financial needs of the policyholder. However, this plan cannot be bought now as the plan is no longer available for sales.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-
++Returns are 10 years returns of Nifty 100 Index benchmark

LIC of India
LIC Plans
LIC Jeevan Utsav
LIC Jeevan Kiran
LIC Dhan Vriddhi
LIC Monthly Investment Plans
LIC Jeevan Azad
LIC 1 Crore Endowment Plans
LIC Jeevan Labh 1 Crore
LIC Crorepati Plan
LIC Dhan Varsha - Plan No. 866
LIC Pension Plus Plan
LIC New Jeevan Shanti
LIC Bima Ratna
LIC Group Plans
LIC Fixed Deposit Monthly Income Plan
LIC Savings Plans
LIC’s New Jeevan Anand
LIC New Jeevan Anand Plan 915
LIC's Saral Jeevan Bima
LIC's Dhan Rekha
LIC Jeevan Labh 836
LIC Jeevan Jyoti Bima Yojana
LIC Child Plans Single Premium
LIC Child Plan Fixed Deposit
LIC Jeevan Akshay VII
LIC Yearly Plan
LIC Bima Jyoti (Plan 860)
LIC’s New Bima Bachat Plan 916
LIC Bachat Plus Plan 861
LIC Policy for Girl Child in India
LIC Samriddhi Plus
LIC New Janaraksha Plan
LIC Nivesh Plus
LIC Policy for Women 2024
LIC Plans for 15 years
LIC Jeevan Shree
LIC Jeevan Chhaya
LIC Jeevan Vriddhi
LIC Jeevan Saathi
LIC Jeevan Rekha
LIC Jeevan Pramukh
LIC Jeevan Dhara
LIC Money Plus
LIC Micro Bachat Policy
LIC Endowment Plus Plan
LIC Endowment Assurance Policy
LIC Bhagya Lakshmi Plan
LIC Bima Diamond
LIC Anmol Jeevan
LIC Bima Shree (Plan No. 948)
LIC Jeevan Saathi Plus
LIC Jeevan Shiromani Plan
LIC Annuity Plans
LIC Jeevan Akshay VII Plan
LIC SIIP Plan (Plan no. 852) 2024
LIC Jeevan Umang Plan
LIC Jeevan Shanti Plan
LIC Online Premium Payment
LIC Jeevan Labh Policy-936
LIC Money Plus Plan
LIC Komal Jeevan Plan
LIC Jeevan Tarang Plan
LIC Bima Bachat Plan
LIC’s New Money Back Plan-25 years
LIC Money Back Plan 20 years
LIC Limited Premium Endowment Plan
LIC Jeevan Rakshak Plan
LIC New Jeevan Anand (Previously LIC Plan 149)
LIC New Endowment Plan
LIC Varishtha Pension Bima Yojana
LIC Investment Plans
LIC Pension Plans
Show More Plans
LIC Calculator
  • One time
  • Monthly
/ Year
Sensex has given 10% return from 2010 - 2020
You invest
You get
View plans
Download the Policybazaar app
to manage all your insurance needs.