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New Money Back 20 Years (Table-920) Premium Calculator
Easily calculate premiums for LIC New Money Back 20 Years (Table-920) policy with our user-friendly premium calculator. Secure your financial future with confidence by determining the right coverage for your needs.
Our calculator delivers accurate and transparent results, empowering you to make informed decisions. Explore the benefits of LIC New Money Back 20 Years (Table-920) and plan for a financially rewarding future. Start calculating premiums now for peace of mind
LIC New Money Back 20 Years Premium Calculator
The LIC New Money Back 20 Years plan is a participating life insurance plan that provides financial protection along with periodic payouts to meet liquidity needs. To calculate the premium payable under this plan, you can use the New Money Back 20 Years Premium Calculator.
What is New Money Back 20 Years Plan?
The LIC New Money Back 20 Years plan is a savings-cum-protection oriented life insurance policy. Key features include:
- Policy term of 20 years with premium payment for the first 15 years only.
- Life cover for a full 20-year term.
- Guaranteed lump sum payouts at specific intervals.
- Survival benefits are paid if the life assured is alive at the end of specified durations.
- Death benefit paid to the nominee in case of unfortunate demise of the life assured.
- Bonuses declared by LIC enhance the guaranteed money-back payouts.
- Option to receive the maturity benefit as lumpsum or as annuity income.
- Premium waiver in case of disability leading to total stoppage of income.
So in summary, the LIC New Money Back 20 Years plan provides liquidity through periodic payouts along with life insurance coverage.
What is New Money Back 20 Years Premium Calculator?
The LIC New Money Back 20 Years Premium Calculator allows potential buyers to easily estimate premiums payable under this plan based on:
- Age of Life Assured
- Sum Assured opted for
- Premium payment mode – yearly, half-yearly, etc
- Whether premium waiver benefit required
- The accident Benefit option selected
Key features of the calculator:
- Free online premium calculation tool
- No login required – fully public and accessible
- Quick premium estimate generation
- Option to modify inputs and review premium changes
- Official LIC calculator for authenticity
The estimated premiums allow buyers to gauge the affordability of the plan and make purchase decisions accordingly.
How to Use New Money Back 20 Years Premium Calculator
Using the New Money Back 20 premium calculator is very easy. Follow these steps:
- Go to https://licpremiumcalculator.pro/new-money-back-20-years-table-920/
- Choose “New Money Back 20 Years” from “Product” dropdown
- Select if Accident Benefit required
- Enter personal details like name, mobile number, email
- Specify age, sum assured amount
- Select premium payment mode – Yearly, Half-yearly, etc
- Tick the premium waiver box if required
- Click the “Calculate Premium” button
- View premium estimate along with money-back details
- Change parameters to see revised premiums
The process is quick and simple with all key fields highlighted. Use it wisely to arrive at optimum policy creation inputs.
Benefits of New Money Back 20 Years Premium Calculator
The LIC New Money Back 20 Years Premium Calculator offers the below useful benefits:
- Zero charges – Available freely online
- Handy tool for premium estimation
- Helps choose the ideal sum assured as per budget
- Allows testing multiple scenarios
- Indicates premium changes for modes like half-yearly, monthly, etc.
- Shows applicable payout stages
- Incorporates optional riders like accident benefit
- Easy to use requiring minimal data entry
- Quickly shows premiums needed for adequate life cover
- Ensures the right purchase decision as per income and needs
In summary, the calculator enables wise purchase of the New Money Back 20 Years plan as per individual insurance needs and affordability.
Minimum SA is ₹1,00,000
It is a 20-year fixed policy term with premiums payable for only the first 15 years
Yearly, Half-yearly, Quarterly, and Monthly premium payment
No, you need to pay premiums for the first 15 years only
No medical tests are needed for a sum assured up to ₹2 lakhs for healthy individuals
The LIC New Money Back 20 Years plan provides life cover, savings and liquidity for long term financial needs. The online premium calculator enables easy estimation of premiums so that an informed purchase decision can be made. It helps design an optimal policy with ideal sum assured, riders and premium payment structure in a few simple steps. For affordable yet comprehensive life insurance, the New Money Back 20 Years plan from LIC is certainly worth considering.