Lic Money Back Policy 25 Years Plan 93 Maturity Calculator

This calculator helps you determine the maturity amount for LIC Money Back Policy 25 Years Plan 93. The policy offers guaranteed returns with partial withdrawals allowed after 5 years. Use this tool to estimate your potential returns based on your investment amount and policy term.

Overview of LIC Money Back Policy 25 Years Plan 93

The LIC Money Back Policy 25 Years Plan 93 is a non-linked, participating, individual, savings life insurance plan offered by Life Insurance Corporation of India. This policy provides:

Guaranteed returns with a minimum maturity benefit
Partial withdrawals allowed after 5 years
Flexible premium payment options
Life cover with maturity benefits

The policy has a 25-year term with premiums payable annually. The returns are calculated based on the policy's participating nature, where the insurer shares profits with policyholders.

How the Policy Works

Premium Payments

Policyholders pay premiums annually for the 25-year term. The premium amount depends on factors like age, health, and the sum assured chosen.

Partial Withdrawals

After 5 years, policyholders can withdraw up to 50% of the total premiums paid, subject to certain conditions. This feature provides liquidity while maintaining the policy's benefits.

Maturity Benefits

At the end of the 25-year term, the policyholder receives:

Sum assured (death benefit)
Bonus (based on policy performance)
Terminal bonus (additional benefit)

The total maturity amount is the sum of these components, calculated based on the policy's participating nature.

Worked Example

Let's calculate the maturity amount for a policy with the following details:

Sum Assured: ₹500,000
Policy Term: 25 years
Annual Premium: ₹20,000
Participating Bonus Rate: 5%
Terminal Bonus: 10% of sum assured

The calculation would be:

Maturity Amount = Sum Assured + (Annual Premium × Policy Term × Participating Bonus Rate) + Terminal Bonus = ₹500,000 + (₹20,000 × 25 × 0.05) + (₹500,000 × 0.10) = ₹500,000 + ₹250,000 + ₹50,000 = ₹750,000

This example shows the potential maturity amount based on the given parameters. Actual returns may vary based on the policy's performance and other factors.

Frequently Asked Questions

What is the minimum age to apply for this policy?

The minimum age to apply for LIC Money Back Policy 25 Years Plan 93 is 18 years, and the maximum age is 50 years.

Can I withdraw money from the policy before maturity?

Yes, partial withdrawals are allowed after 5 years, up to 50% of the total premiums paid, subject to policy terms.

What happens if I die before maturity?

The sum assured is paid to the nominee, and any accumulated bonuses are also paid out.

Is there a surrender value available?

Yes, a surrender value is available after 5 years, which is the sum of all premiums paid minus any withdrawals.