LIC Money Back Policy 20 Years Maturity Calculator

If you are a subscriber of LIC Money Bank Policy (20 Years) and want to check the Maturity amount, our LIC Money Back policy calculator is here to help. This calculator needs just few inputs from you and instantly provides you with the calculation.

The LIC Money Back Policy is an insurance plan that provides financial protection in very unique way. It offers periodic payments until certain durations during the policy term. The periodic payments are made after every 5 years i.e. after 5 years, 10 years, 15 years and the final amount is paid on the maturity i.e. after completion of 20 years.

Insurer can pay premiums yearly, half-yearly, quarterly, monthly, or through salary deductions throughout the policy term (15 years). After the premium paying term, for the next 5 years, there is no need to pay anything. Bonuses are added to your policy and become guaranteed benefits at the time of maturity.

Let’s now get started with LIC Money Back Policy 20 Years Maturity amount calculator.

How Does this Calculator Work?

1. Enter your age at the beginning of policy term.
2. Enter the Sum assured.
3. Enter the Premium Payment Frequency (Choose from Yearly, Half Yearly, Quaterly, Monthly)
4. Then, hit the Submit Button
5. Check the Maturity Amount

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How to Calculate LIC Money Back Policy (20 Years) Maturity Amount

To clarify the calculation process, we have included an example calculation below. This should clarify things for you :

Example Calculation:

Let’s assume the following inputs:

• Age: 30
• Sum Assured: ₹1,25,000
• Policy Term: 20 years

1. Survival Benefits:
   • End of 5 years: 20% of ₹1,25,000 = ₹25,000
   • End of 10 years: 20% of ₹1,25,000 = ₹25,000
   • End of 15 years: 20% of ₹1,25,000 = ₹25,000
2. Bonuses Calculation:
   • Bonus Rate per ₹1,000 Sum Assured: ₹39
   • Total Bonus: (₹1,25,000 / 1,000) * ₹39 * 20 years = ₹97,500
     —-> Don’t Miss : LIC Bonus Calculator
3. Final Payment at the End of 20 Years:
   • Final Survival Benefit: 40% of ₹1,25,000 = ₹50,000
   • Including Bonus: ₹50,000 (Final Survival Benefit) + ₹97,500 (Total Bonus) = ₹1,47,500
4. Total Amount Received:
   • Sum of all survival benefits and the final payment:
   • ₹25,000 (5 years) + ₹25,000 (10 years) + ₹25,000 (15 years) + ₹1,47,500 (20 years) = ₹2,22,500

LIC Money Back Policy Maturity Amount Calculator FAQS

Sure! Here are some frequently asked questions (FAQs) about the LIC Money Back Policy Maturity Amount Calculator, along with their answers:

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