This document compares the key features of LIC's existing Money Back Plan (Plan No. 93) to their new Money Back Plan (Plan No. 821). Some of the main changes in the new plan include a shorter premium paying term of 20 years instead of 25, a higher minimum basic sum assured of Rs. 100,000, modified survival benefits and rebate structures, changes to loan eligibility and foreclosure rules, and taxes being borne by the policyholder rather than the corporation. However, many features remain unchanged between the two plans such as the policy and maturity terms, available eligibility ages, and provisions around back dating, grace periods, and assignment/nomination.

1. LIC’s NEW MONEY BACK PLAN
25 Years
( Plan No. 821 )
UIN:51278VO1

2. Money Back Plan -25 years
Plan No. 93
New Money Back Plan – 25 years
Plan No. 821
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
Sum Assured(SA) 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
No
change
LIC’s New Money Back Plan -25 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 -25 years ~ Benefits

4. Survival Benefit
Policy Year 5th 10th
15th
20th
Survival
Benefit Payable 15% 15% 15% 15%
LIC’s New Money Back Plan -25 years ~ Benefits
NO
Change
in SB
Paid-up
Value
modified

5. Particulars
Money Back Plan -25 years
( Plan No. 93)
New Money Back Plan – 25
years ( Plan No. 821)
Age at entry 13 to 45 years 13 to 45 years
Age at Maturity Maximum 70 years Maximum 70 Years
Policy Term 25 years 25 years
Premium
Paying Term
25 Years 20 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 -25 years ~
Eligibility Conditions and Restrictions
Minimum
SA
modified

6. Mode
Rebate
Plan No. 93 Plan No. 821
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 -25 years
Plan No. 93
New Money Back Plan – 25 years
Plan No. 821
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
modifie
d
LIC’s New Money Back Plan -25 years ~ Rebates

7. Money Back Plan -25 years
Plan No. 93
New Money Back Plan – 25 years
Plan No. 821
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 -25 years ~ Loan

8. Plan No. 93 Plan No. 821
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 15.28%
20 21.99%
24 30%
GSV %
modified
Bonus
Payable
modified
No
Change
LIC’s New Money Back Plan -25 years ~ Surrender Value

9. Money Back Plan -25 years
Plan No. 93
New Money Back Plan – 25 years
Plan No. 821
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 -25 years ~ Surrender Value

10. Money Back Plan -25 years
Plan No. 93
New Money Back Plan – 25
years
Plan No. 821
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 -25 years