Money Back PlansPlan 720NRI Eligible

LIC New Money Back Plan (20 Years)

Name: LIC New Money Back Plan (20 Years)
Brand: Life Insurance Corporation of India
Availability: InStock

Get 20% of your sum assured back every 5 years

What is LIC New Money Back Plan (20 Years)?

LIC New Money Back Plan (20 Years) (Plan 720, UIN 512N280V03) is a money back plan from Life Insurance Corporation of India. It is a participating (with-profits) plan: the policy earns Simple Reversionary Bonuses that LIC declares from its surplus each year, and may add a Final Additional Bonus when the policy ends.

Premiums are paid for a shorter period than the policy runs, so the cover continues after you have finished paying. If the policyholder dies during the term, the nominee receives: Full Sum Assured + bonuses (regardless of survival benefits already paid). On surviving the full term, the policyholder gets: 40% of Sum Assured + bonuses (after 3 survival payouts of 20% each). Along the way: 20% of Sum Assured at end of 5th, 10th, and 15th year.

It suits people looking for periodic income, savings and milestones. NRIs can buy this plan too.

Key Highlights

Get money back every 5 years during the policy

Full death benefit even after survival payouts

20-year term with 15-year premium payment

Great for planning milestone expenses

Benefits Explained Simply

If Something Happens to You (Death Benefit)

Full Sum Assured + bonuses (regardless of survival benefits already paid)

When the Plan Matures (Maturity Benefit)

40% of Sum Assured + bonuses (after 3 survival payouts of 20% each)

Money You Get During the Plan (Survival Benefit)

20% of Sum Assured at end of 5th, 10th, and 15th year

Eligibility & Details

Minimum Entry Age	13 years (last birthday)
Maximum Entry Age	45 years
Minimum Sum Assured	₹1,00,000
Policy Term	20 years
Premium Paying Term	15 years
Bonus Type	simple reversionary
Risk Level	low
NRI Eligible	Yes

Tax Benefits

Section 80C deduction on premiums
Maturity tax-free under 10(10D)

Premium Rates (Indicative)

Age	20 years
20 yrs	₹15,896
30 yrs	₹16,082
40 yrs	₹16,846
50 yrs	₹18,679

VERIFIED from official LIC Sales Brochure (effective 22/09/2025). PPT: 15 years. Survival benefit: 20% of BSA at end of 5th, 10th, 15th year. Maturity: 40% of BSA + bonuses + FAB. Annual premiums for ₹2 lakh BSA. Exclusive of taxes.

Source: LIC Official Sales Brochure | Data last verified: 21 March 2026

Example: What You Could Get

If a 30-year-old buys this plan with ₹10 lakh sum assured, 20-year term:

Annual Premium

₹80,410

Total Paid (20 yrs)

₹16,08,200

Est. Bonuses

₹9,00,000

Est. Maturity

₹19,00,000

That's approximately 1.2x of what you paid in premiums.

Maturity Benefit Illustration

Estimated

What you pay vs what you could receive (conservative estimate with assumed bonus rate of ~Rs.48-60 per Rs.1,000 SA per year)

Age 25120% return

You Pay: 5.77 L

You Get: 6.90 L

Age 30119% return

You Pay: 5.81 L

You Get: 6.90 L

Age 35116% return

You Pay: 5.95 L

You Get: 6.90 L

Age 40113% return

You Pay: 6.09 L

You Get: 6.90 L

Entry Age	Annual Premium	Total You Pay	Est. Maturity	Return
25 yrs	₹38,473	5.77 L	6.90 L	120%
30 yrs	₹38,705	5.81 L	6.90 L	119%
35 yrs	₹39,660	5.95 L	6.90 L	116%
40 yrs	₹40,615	6.09 L	6.90 L	113%

Sum Assured: ₹5,00,000 | Term: 20years | Bonus assumption: ~Rs.48-60 per Rs.1,000 SA per year (conservative). Actual maturity depends on LIC's declared bonus rates. This is for illustration only. Please consult your insurance advisor for accurate projections.

Bonus Rate History

Simple Reversionary Bonus (₹ per ₹1,000 of Sum Assured per year)

2025

₹45

2024

₹44

2023

₹42

2022

₹40

2021

₹40

2020

₹38

2019

₹38

2018

₹36

2017

₹36

2016

₹34

Bonus is calculated on original SA and paid at maturity (along with 40% remaining SA after survival payouts).

Who is This Plan Best For?

periodic incomesavingsmilestones

Frequently Asked Questions

What is LIC New Money Back Plan (20 Years) (Plan 720)?

LIC New Money Back Plan (20 Years) is a money back plans plan from Life Insurance Corporation of India. Get 20% of your sum assured back every 5 years.

What is the eligibility age for LIC New Money Back Plan (20 Years)?

Entry age is between 13 and 45 years. Policy term: 20 to 20 years. Premium paying term: 15 to 15 years.

What is the minimum sum assured for LIC New Money Back Plan (20 Years)?

Minimum sum assured is ₹1,00,000. There is no upper limit on sum assured.

What are the tax benefits of LIC New Money Back Plan (20 Years)?

Section 80C deduction on premiums. Maturity tax-free under 10(10D).

Is LIC New Money Back Plan (20 Years) available for NRIs?

Yes. LIC New Money Back Plan (20 Years) is available to Non-Resident Indians. NRIs can buy this plan during a visit to India or through power of attorney.

What happens if I stop paying premiums on LIC New Money Back Plan (20 Years)?

If you stop paying premiums before 3 years, the policy lapses and you lose all benefits. After 3 years of premium payments, the policy acquires a paid-up value and you receive a reduced sum assured. You can also revive a lapsed policy within 5 years by paying outstanding premiums plus interest.

The information above is for educational purposes only. Actual premiums, benefits, and terms are as per LIC of India. For official and complete details, visit licindia.in.

Interested in New Money Back Plan (20 Years)?

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