Introduction to the LIC Money Back Calculator
When organizing long-term family security, balancing a massive safety net with immediate liquidity is one of the most prominent challenges parents and individuals face. Standard endowment policies successfully lock in savings until the end of the term, but they fail to provide periodic cash flow to meet near-term obligations. This is exactly where LIC of India’s signature savings engines—the LIC 20-Year Money Back Plan (Plan No. 920) and the LIC 25-Year Money Back Plan (Plan No. 921)—excel.
Our expert-engineered LIC Money Back Calculator offers a state-of-the-art interactive platform to simulate your policy parameters. By inputting parameters like chosen plan term, entry age, and Sum Assured, you can instantly see your exact year-by-year survival benefits, premium schedules with localized 2026 GST slabs, and projected maturity corpuses. Bypass manual premium charts and secure precise actuarial illustrations within seconds.
Understanding LIC Money Back Plans: 20-Year vs 25-Year
LIC offers two variations of the money-back scheme to cater to different financial horizons and savings capacities. Using our integrated LIC 20 year money back calculator and LIC 25 year money back plan 921 premium calculator helps you compare the exact yields of both plan types:
1. LIC 20-Year Money Back Plan (Plan No. 920)
Plan 920 is a short-to-mid term savings plan designed for people seeking liquidity within a 20-year span. Under this configuration:
- Premium Paying Term (PPT): Limited to 15 Years. You are premium-free for the final 5 years of the policy term.
- Survival Payout Milestones (60% SA): You receive 20% of the basic Sum Assured at the end of the 5th, 10th, and 15th policy years.
- Maturity Payout (40% SA + Bonuses): The remaining 40% of the Sum Assured, alongside the cumulative simple reversionary bonuses and Final Additional Bonuses (FAB), is paid at the end of the 20th year.
Use our premium LIC 20 year money back plan 920 premium calculator to model this policy structure and see the cash flow impact on your financial plans.
2. LIC 25-Year Money Back Plan (Plan No. 921)
Plan 921 extends the safety net and compounding window to 25 years. It is designed for major milestones like higher secondary planning or post-graduation timelines:
- Premium Paying Term (PPT): Limited to 20 Years. No premiums are payable for the final 5 years of the term.
- Survival Payout Milestones (60% SA): You receive 15% of the basic Sum Assured at the end of the 5th, 10th, 15th, and 20th policy years.
- Maturity Payout (40% SA + Bonuses): The remaining 40% of the basic Sum Assured + cumulative reversionary bonuses + Final Additional Bonuses (FAB) is paid at the end of the 25th policy year.
Eligibility Criteria and Plan Rules
To utilize the calculator accurately, ensure that your entry parameters match the official guidelines set forth by the Life Insurance Corporation of India:
| Eligibility Parameter | LIC 20-Year Money Back (Plan 920) | LIC 25-Year Money Back (Plan 921) |
|---|---|---|
| Minimum Entry Age | 13 Years Completed | 13 Years Completed |
| Maximum Entry Age | 50 Years (Nearer Birthday) | 45 Years (Nearer Birthday) |
| Maximum Maturity Age | 70 Years | 70 Years |
| Policy Term | 20 Years | 25 Years |
| Premium Paying Term (PPT) | 15 Years | 20 Years |
| Minimum Sum Assured | ₹1,00,000 | ₹1,00,000 |
| Maximum Sum Assured | No Upper Limit | No Upper Limit |
Detailed Payout Schedule Comparison
Understanding when and how much you will receive is essential for matching payouts with life milestones. The table below represents a comparative breakdown for a ₹10 Lakh Sum Assured policy under both options, which you can easily model in our LIC money back policy maturity calculator:
| Policy Year End | Plan 920 (20-Yr Term, PPT 15) Payout | Plan 921 (25-Yr Term, PPT 20) Payout |
|---|---|---|
| End of Year 5 | ₹2,00,000 (20% SA) | ₹1,50,000 (15% SA) |
| End of Year 10 | ₹2,00,000 (20% SA) | ₹1,50,000 (15% SA) |
| End of Year 15 | ₹2,00,000 (20% SA) | ₹1,50,000 (15% SA) |
| End of Year 20 | ₹4,00,000 (40% SA) + Vested Bonuses (Maturity) | ₹1,50,000 (15% SA) |
| End of Year 25 | Policy Term Closed (Year 20) | ₹4,00,000 (40% SA) + Vested Bonuses (Maturity) |
| Total Survival Milestone Payouts | ₹6,00,000 | ₹6,00,000 |
Bonus Declaration and Yield Compounding
As participating life insurance plans, both Plan 920 and Plan 921 accrue annual Simple Reversionary Bonuses declared by LIC based on corporate performance and valuation audits.
- Reversionary Bonus Rates: Historically, 20-Year Plan 920 averages a reversionary bonus of ₹39 per ₹1000 SA per year, while the 25-Year Plan 921 averages ₹44 per ₹1000 SA per year due to the longer term.
- Final Additional Bonus (FAB): Paid as a one-time maturity incentive if the policy has run for its full duration. While Plan 920 carries a minor FAB (around ₹40 per ₹1000 SA), the 25-year duration of Plan 921 results in a massive FAB tier of ₹450 per ₹1000 SA, providing an exceptional maturity corpus.
Tax Benefits and Regulatory Guidelines
Like most traditional products from LIC of India, Money Back policies carry excellent tax advantages under the Income Tax Act:
- Section 80C Deduction: Premiums paid for Plan 920 and 921 are tax-deductible up to ₹1,50,000 per financial year under Section 80C (applicable for old tax regime).
- Section 10(10D) Exemption: All money-back survival benefits received every 5 years, along with the final maturity corpus, are 100% tax-free under Section 10(10D), provided the annual premium is less than 10% of the basic Sum Assured.
⚖️ Professional Actuarial Disclaimer
The LIC Money Back Calculator hosted on BimaCalculator.com is an independent financial simulation dashboard designed for educational and illustrative purposes only. The premium quotes, reversionary bonuses (modeled at ₹39 to ₹44 per thousand Sum Assured), and Final Additional Bonuses (FAB) reflect standard historical declarations and 2026 LIC rate guidelines. However, annual bonuses are declared at the sole discretion of the Life Insurance Corporation of India and are not guaranteed. Tax exemptions are subject to prevailing laws and amendments by the Ministry of Finance. For legally binding quotes and exact terms, please speak to a licensed LIC agent or visit an official branch.
Frequently Asked Questions (FAQ)
A: The primary benefit is regular liquidity. Unlike traditional endowment plans where the entire Sum Assured is locked until maturity, Money Back plans pay survival payouts equal to 15% or 20% of the Sum Assured every 5 years, helping you fund short-term milestones without breaking the policy.
A: Under both Plans 920 and 921, you pay premiums for a shorter duration than the policy term. For the 20-Year Plan (Plan 920), you pay premiums for 15 years. For the 25-Year Plan (Plan 921), you pay premiums for 20 years. Both offer a premium-free window during the final 5 years of the policy term.
A: No. All milestone survival benefits paid at years 5, 10, 15, and 20, as well as the final maturity benefit at the end of the term, are completely tax-exempt under Section 10(10D) of the Income Tax Act.
A: In case of policyholder demise, the full basic Sum Assured along with all vested reversionary bonuses and FAB (if any) is paid to the nominee immediately. Crucially, LIC does not deduct any previously paid survival money-back benefits from the death claim amount—the full life cover remains active.
A: Yes. Loans are available against both plans once the policy has completed at least 2 full years of active premiums and acquired a surrender value.
A: The minimum Sum Assured required under both Plan 920 and Plan 921 is ₹1,00,000. There is no upper cap on the Sum Assured, subject to underwriter review and financial status.