Insurance Plans 603 views March 24, 2020

Money back is a popular form of life insurance. It works by offering a part of the sum assured back at regular intervals. In addition, a maturity benefit is also paid out at the end of the policy duration. If the policyholder dies during the policy period, his family members receive the death benefit. Money-back plans are commonly bought for children. They are also bought by people who wish to meet the expected financial milestones of their lives with ease. There are many money back plans available in India these days, but the LIC Money Back Plan 25 Years is one of the very best. take a look at this article to know more about this life insurance policy from the Life Insurance Corporation of India.

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Benefits of buying the Lic Money Back Plan 25 Years

Want to know the benefits you get when you buy the Lic Money Back Plan 25 Years? Here’s a lowdown for you:

Comprehensive life cover

The money back plan that you buy for 25 years offers a comprehensive life cover for the entire duration of the policy. If anything happens to you during that time, your beneficiaries get a sum assured. You can, therefore, secure the financial wellbeing of your loved ones by getting the LIC Money Back Plan for 25 Years.

Regular Financial Assistance

Since the money back plan offers regular payouts, you can get some very handy financial assistance from time to time. This proves to be very helpful and assists you when you need the monetary help the most. If you are getting married and get a sum of Rs 50,000 at that time, you can only imagine how useful that would be to you!

The Option of Adding Riders

The plan allows you to add some very handy riders to your base policy. Riders such as the critical illness rider, disability benefit rider and so on. The riders are available at an added cost so you should select them carefully to have the best possible life cover.

Tax Benefits

All the premium you pay towards life insurance is available for tax rebates. You can claim IT discounts up to Rs 1.5 lacs a year under Section 80 C of the Indian Income Tax Act. This holds true for the premium you pay for the LIC Money Back Plan 25 Years plan as well. Buy this plan and get an amazing tax benefit as a bonus!

Death Benefit

Since this is basically a life insurance policy, the LIC Money Back Plan pays out a death benefit when you die to your nominees. You need to pay your premiums on time and ensure the policy is active at all times so that even if you die suddenly, your family will receive the death benefit.

Buy the LIC Money Back Plan 25 Years and enjoy all the benefits stated above. LIC is the best life insurance provider in the country and has the highest claim settlement ratio as well. You get a very good deal when you buy this policy so do so without any further delay.

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