This document compares LIC's old Money Back Plan (Plan No. 75) to their new Money Back Plan (Plan No. 820). Some key differences include: the new plan has a minimum sum assured of Rs. 100,000, premium paying term of 15 years instead of 20, survival benefits of 20% paid at years 5, 10, and 15, and a revival period of 2 years instead of 5 if premiums are unpaid. The document also notes some aspects that remain unchanged like backdating, grace period, and assignment/nomination rules.

1. LIC’s NEW MONEY BACK PLAN
20 Years
( Plan No. 820 )
UIN : 512N280V01

2. Money Back Plan -20 years
Plan No. 75
New Money Back Plan – 20 years
Plan No. 820
Maturity Benefit Maturity Benefit
40% of the Basic Sum Assured along
with
Vested Simple Reversionary Bonuses and
Final Additional Bonus, if any.
40% of the Basic Sum Assured along
with
Vested Simple Reversionary Bonuses
and
Final Additional Bonus, if any.
Death Benefit Death Benefit
Basic Sum Assured(BSA) along with
Vested Simple Reversionary Bonuses and
Final Additional Bonus, if any.
‘Sum Assured on Death’ along with
Vested Simple Reversionary Bonuses
and
Final Additional Bonus, if any.
The death benefit as defined above shall
not be less than 105% of total
premiums* paid as on the date of death .
Modification-
‘Sum Assured on
Death' instead of
SA
LIC’s New Money Back Plan -20 years ~ Benefits

3. What is Sum Assured on Death?
Sum Assured on Death shall be Higher of ~
125% of Basic Sum Assured (1.25 x BSA)
OR
10 times Annualised Premium.(10 x AP).
[Premiums - excluding taxes, extra premiums and premiums for riders, if
any]
LIC’s New Money Back Plan -20 years ~ Benefits

4. Survival Benefit
Policy Year 5th 10th 15th
Survival Benefit
Payable
20% 20% 20%
Money Back Plan -20 years
Plan No. 75
New Money Back Plan – 20 years
Plan No. 820
Paid-up value per thousand Sum Assured
Paid –up value shall be equal to
[(Number of premiums paid/ Total
Number of premiums payable)x Basic
Sum Assured less total amount of
Survival Benefits paid under the policy.
Year ‰ Year ‰
6,11 70 15 50
2,7,12 140 16 120
3,8,13 210 17 190
4,9,14 280 18 260
19 330
20 400
LIC’s New Money Back Plan -20 years ~ Benefits
NO
Change
in SB
Paid-up
Value
modified

5. Particulars
Money Back Plan -20 years
( Plan No. 75)
New Money Back Plan – 20
years ( Plan No. 820)
Age at entry 13 to 50 years 13 to 50 years
Age at Maturity Maximum 70 years Maximum 70 Years
Policy Term 20 years 20 years
Premium
Paying Term
20 Years 15 Years
Premium mode
Yearly, Half-yearly, Quarterly,
Monthly (SSS or ECS)
Yearly, Half-yearly, Quarterly,
Monthly (SSS or ECS)
Basic Sum
Assured
50,000 and above
1,00,000 and above
( In multiples of 5000)
Premium
Paying
term
modified
LIC’s New Money Back Plan -20 years ~
Eligibility Conditions and Restrictions
Minimum
Sum
Assured
modified

6. Mode
Rebate
Plan No. 75 Plan No. 820
Yearly 3% of tabular Premium 2% of tabular premium
Half-yearly 1.5% of tabular premium 1% of tabular premium
Quarterly Nil Nil
Money Back Plan -20 years
Plan No. 75
New Money Back Plan – 20 years
Plan No. 820
Basic Sum Assured Rebate (Rs.) Basic Sum Assured Rebate (Rs.)
1,00,000 and above 2.00‰ SA 5,00,000 and above 3.00‰ BSA
50001 to 1,00,000 1.00‰ SA 2,00,000 to 4,95,000 2.00‰ BSA
Upto 50000 Nil 1,00,000 to 1,95,000 Nil
Slab & Rate
modified
Rate
modified
LIC’s New Money Back Plan -20 years ~ Rebates

7. Money Back Plan -20 years
Plan No. 75
New Money Back Plan – 20 years
Plan No. 820
Available after payment of 3 full years
premiums.
Available after payment of 3 full years premiums.
Loan granted shall be 90% of the
Surrender Value in case of inforce
policies and 85% of the Surrender Value
in case of Paid-up policies.
The maximum amount of loan that can be granted
as a percentage of Surrender Value be as under:
For inforce and fully paid-up policies – upto 90%
For paid-up policies – 80%
Foreclosure action shall be initiated on
default of 2 or more half-yearly loan
interest installments.
Foreclosure action shall not be taken under fully
paid-up and inforce policies even if there is
default of loan interest.
% of loan
modified
LIC’s New Money Back Plan -20 years ~ Loan

8. Plan No. 75 Plan No. 820
Guaranteed Surrender Value (GSV) Guaranteed Surrender Value (GSV)
Available after payment of 3 full years
premiums.
Available after payment of 3 full years
premiums.
Before Payment of Survival Benefit:
GSV shall be equal to 30% of the total
premiums paid less First Year Premium and
extra premium, if any.
After Payment of Survival Benefit:
GSV shall be 30% of the premiums paid after
the due date on which last SB was paid less
extra premium, if any.
GSV shall be a percentage of total premiums
paid (net of taxes) excluding extra premium, if
any and premium paid for riders, if opted for.
Less any survival Benefits already paid.
Examples of GSV factors applicable for total
premiums paid
Policy Year ~ GSV factor
3 = 30%
5 = 50%
t -1 = 80% (t=Policy Term)
Cash Value of vested bonuses, if any. GSV factor applicable to vested bonus, if any.
Examples of Vested bonus factors –
Year of SV – Factor
3 16.21%
10 18.16%
19 30%
GSV %
modified
Bonus
Payable
modified
No
Change
LIC’s New Money Back Plan -20 years ~ Surrender Value

9. Money Back Plan -20 years
Plan No. 75
New Money Back Plan – 20 years
Plan No. 820
Special Surrender Value (SSV) Special Surrender Value (SSV)
Surrender Value shall be the discounted
value of the Paid-up Sum Assured and
vested simple reversionary bonuses.
Surrender Value shall be the discounted
value of the Paid-up Sum Assured and
vested simple reversionary bonuses.
The discount factors shall be special
surrender value factors as provided in Table-
1A of the Special Surrender Value Booklet
and will depend upon the policy term and
duration elapsed since the commencement of
the policy.
The discount factors shall be special
surrender value factors as provided in Table-
1A of the Special Surrender Value Booklet
and will depend upon the policy term and
duration elapsed since the commencement of
the policy.
Surrender Value Payable Surrender Value payable
The Higher of Guaranteed Surrender Value
and Special Surrender Value shall be
payable.
The Higher of Guaranteed Surrender Value
and Special Surrender Value shall be
payable.
No change in SSV
LIC’s New Money Back Plan -20 years ~ Surrender Value

10. Money Back Plan -20 years
Plan No. 75
New Money Back Plan – 20 years
Plan No. 820
A Policy may be revived within a period
of 5 years from the date of first unpaid
premium.
A Policy may be revived within a period
of 2 years from the date of first unpaid
premium.
Taxes, if any , were borne by the
corporation.
Taxes, if any, shall be applicable at the
prevailing rates and borne by the
policyholder as per rules.
There shall be no change in
the following Items
Back Dating
Grace Period
Assignment/Nomination
LIC’s New Money Back Plan -20 years