Calculate premium & benefits for LIC's New Money Back Plan — 20-Year (512N280V03) and 25-Year (512N281V03). Get cash back every 5 years while staying fully covered.
| Year | Cum. Premium | Cum. SRB | Survival Benefit | GSV (approx.) | Death Benefit | Maturity |
|---|
LIC's New Money Back Plan is a Participating, Non-Linked, Life, Individual Savings Plan that uniquely combines life insurance protection with periodic liquidity. Unlike endowment plans where you wait until maturity, a money-back plan returns a portion of your Sum Assured at regular intervals — called Survival Benefits — while keeping the full death cover intact throughout.
LIC offers two variants: the 20-Year Plan (UIN: 512N280V03) with a 15-year PPT and three mid-term payouts, and the 25-Year Plan (UIN: 512N281V03) with a 20-year PPT and four payouts. Both plans participate in LIC's profits through Simple Reversionary Bonus (SRB) and Final Additional Bonus (FAB) at maturity or death. From 22 September 2025, all individual life insurance premiums are fully exempt from GST.
20-yr plan: 20% BSA at years 5, 10, 15. 25-yr plan: 15% BSA at years 5, 10, 15, 20. Cash in hand while your policy runs.
Even after each survival payout, the full Sum Assured on Death (125% BSA or 7× annual premium) stays intact for your family.
Pay for only 15 years (20-yr plan) or 20 years (25-yr plan) — bonuses accumulate for the full policy term.
SRB at ₹7/₹1,000 BSA/year accrues over the full term. FAB is added at maturity or death.
BSA ≥ ₹5 lakh earns a 3‰ of BSA discount off the annual premium — larger policies cost less per lakh.
Borrow up to 75% of Surrender Value after 2 full years of premiums — no need to surrender the policy.
All individual life insurance premiums are now 0% GST. You pay only the base net premium.
Receive maturity or death benefits as instalments over 5, 10, or 15 years instead of a lump sum.
| Feature | 20-Year (512N280V03) | 25-Year (512N281V03) |
|---|---|---|
| Policy Term | 20 years | 25 years |
| Premium Paying Term | 15 years | 20 years |
| Survival Payouts | 3 (at yr 5, 10, 15) | 4 (at yr 5, 10, 15, 20) |
| Each Survival Benefit | 20% of BSA | 15% of BSA |
| Total Survival Benefits | 60% of BSA | 60% of BSA |
| Maturity BSA Component | 40% of BSA | 40% of BSA |
| Max Entry Age | 50 years (nbd) | 45 years (nbd) |
| Annual Premium (Age 30, ₹2L BSA) | ₹16,082 | ~₹12,718 |
| FAB @8% (per ₹1,000 BSA) | ₹420 | ₹560 |
| Best For | Ages 35–50, earlier payouts | Ages 25–40, more accumulation |
On the 20-year plan, LIC pays 20% of your Basic Sum Assured at the end of years 5, 10, and 15 — provided all premiums are paid. Crucially, this does not reduce your death cover: if you pass away after receiving a payout, your nominee still receives the full original Sum Assured on Death plus all accrued bonuses. You get 60% BSA back as cash during the policy, and 40% at maturity — 100% of BSA guaranteed in total.
Simple Reversionary Bonus (SRB): ₹7 per ₹1,000 BSA per year. Verified against LIC's own brochure illustration — Age 30, ₹2L BSA: Year 1 bonus = ₹1,400, Year 2 cumulative = ₹2,800. SRB accrues for the full 20 or 25 year policy term and is paid at maturity or on death.
Final Additional Bonus (FAB): A one-time discretionary bonus at maturity or death. At @4% scenario = ₹0. At @8% ≈ ₹420/₹1,000 BSA (20-yr) or ₹560/₹1,000 BSA (25-yr), per LIC's own benefit illustration tables.
| Age | 20-Year Plan | 25-Year Plan |
|---|---|---|
| 20 years | ₹15,896 | ₹12,454 |
| 30 years | ₹16,082 | ₹12,718 |
| 40 years | ₹16,846 | ₹13,564 |
| 45 years | ₹17,800 (est.) | ₹14,225 |
| 50 years | ₹18,679 | Not eligible |
Source: LIC official brochure. For BSA ≥ ₹5L, deduct 3‰ of BSA as High SA Rebate. No GST from Sept 2025.
Effective 22 September 2025, all individual life insurance premiums in India are fully exempt from GST under GST Reforms 2.0. This includes all LIC New Money Back Plan premiums across all payment modes. The earlier structure of 4.5% GST in Year 1 and 2.25% from Year 2 no longer applies. You pay only the net base premium — nothing extra.
The 20-year plan (PPT 15 yrs) pays 20% BSA at years 5, 10 and 15, accepting entrants up to age 50. The 25-year plan (PPT 20 yrs) pays 15% BSA at years 5, 10, 15 and 20, accepting entrants up to age 45. Both plans pay 40% BSA at maturity — total guaranteed BSA payout = 100% in both cases.
No. The Sum Assured on Death (higher of 125% BSA or 7× annual premium) stays fully intact throughout the entire policy term. Even after receiving one or more survival payouts, your nominee receives the complete death benefit.
₹7 per ₹1,000 of BSA per year, accruing over the full policy term. Verified against LIC's brochure: Age 30, ₹2L BSA — Year 1 SRB = ₹1,400; Year 2 cumulative = ₹2,800. The rate is the same for both the 20-year and 25-year plans.
No. Effective 22 September 2025, GST on all individual life insurance premiums is 0%. The older rates of 4.5% (Year 1) and 2.25% (Year 2 onwards) no longer apply. This calculator correctly shows GST as ₹0.
If less than one full year of premiums is paid, all benefits cease after the grace period. After at least one year, the policy converts to paid-up with reduced benefits. You can revive within 5 years by paying all arrears with 9.5% p.a. compound interest plus health proof.
Yes. After one full year of premiums you can borrow up to 50% of Surrender Value (before 2 full years) or 75% (after 2 full years). Current loan interest rate is 9.5% p.a. compounding half-yearly.
The minimum Basic Sum Assured is ₹2,00,000. There is no upper limit. BSA must be in multiples of ₹25,000.
Yes. LIC's Settlement Option lets you receive maturity or death benefits in instalments over 5, 10, or 15 years instead of a lump sum.
The 20-year plan suits buyers aged 40–50 who need earlier cash payouts and shorter commitment. The 25-year plan has lower annual premiums and a higher FAB (₹560 vs ₹420 per ₹1,000 BSA at @8%), making it better for buyers aged 25–35 who want more wealth accumulation.
Premium tables, survival benefit percentages, SRB rate, FAB estimates, and rebates are sourced from LIC's official brochure (512N280V03). Verified: Age 30, ₹2L BSA, 20-yr plan @4% maturity = ₹1,08,000 ✓; @8% = ₹1,92,000 ✓. GST is correctly shown as ₹0.
