LIC New Money Back Plan 20 Years (Plan 920) & Benefits | PolicyX
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LIC New Money Back 20 Years

The LIC New Money Back Plan 20 Years (Plan 920) is a non-linked, parti ...Read More

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Written by Himanshu Kumar
Reviewed by Raj Kumar
Published: 13 Dec 2024
Updated: 27 Jul 2026
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Overview

The LIC New Money Back Plan 20 Years (Plan No: 920) was launched on January 6, 2014, to cater to the financial needs of business and salaried individuals in India. This is a fixed-period, non-linked, participating plan that protects the policyholder against death and disburses a periodic payout upon survival, equal to 20% of the Sum Assured, upon completion of five, ten, and fifteen years.

A simple reversionary bonus also accrues upon policy maturity, and the plan comes with an add-on accidental death and disability coverage.

LIC New Money Back Plan 20 Years offers a range of benefits, including:

  • Death Benefits
  • Maturity Benefits
  • Participation in Profits
  • Policy Revival
  • Survival Benefits

Video reviews

Walkthroughs from the PolicyX team — pros, cons, real claim experiences and who should buy.

LIC Money Back Plan 920 Details

LIC Money Back Plan 920 Details

Know the details of LIC Money Back Plan No. 920 with examples and calculations. It is a 20-year plan policy introduced by the Life Insurance Corporation of India.

Key Features

The LIC New Money Back Plan 20 Years offers several key features:

  • Death Benefit: If death occurs during the first five policy years, the benefit is payable in case of the death of an insured person before maturity. Before the date of commencement of risk, a refund of premium(s) paid without interest will be payable.
  • Maturity Benefits: If the insured survives till the end of the policy period, and all due premiums have been paid, the Sum Assured on Maturity along with Loyalty Addition will be payable.
  • Participation in Profits: This plan offers participation in profits, in addition to the base maturity benefits.
  • Additional Bonus: This bonus is paid if the policy runs for a minimum period determined by the company. It may be declared at the time of claim upon either death or maturity.
  • Policy Loan: You can avail a policy loan once it acquires a surrender value.
  • Cooling Period: This plan offers a cooling period of 15 days that allows you to return the policy if you are not satisfied with the policy.
  • Paid-up Value: This policy acquires a paid-up value if you have paid premiums for 3 years.
  • Tax Benefits: LIC New Money Back 20 Years Plan offers term insurance tax benefits under Section 80C of the Income Tax Act, 1961, for up to ₹1.5 lakhs of the total premium paid in the same financial year.

How to Buy LIC New Money Back Plan 20 Years Online via PolicyX.com

  1. Visit the official website of PolicyX.com.
  2. Click on the ‘Investment’ tab.
  3. A new page will appear on the screen.
  4. Fill out the form at the top of the page with the necessary details.
  5. Select your income and city. Click on 'Proceed'.
  6. Update your education and occupation details.
  7. Choose your preferred plan and click on 'Buy this plan'.
  8. Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.

How to Buy LIC New Money Back Plan 20 Years Online via LIC India

  1. Visit the official website of Life Insurance Corporation of India.
  2. Hover over 'Wealth Creation'.
  3. Click on 'LIC New Money Back Plan 20 Years Plan'.
  4. Click on ‘Buy Online’ and you will be redirected to a new page.
  5. Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
  6. Once discussed, you can make the premium payment and get the policy documents.

Exclusions

  • In case the policyholder commits suicide within 12 months of policy purchase, no death benefits are offered to the family members. Either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, is paid.

Documents Required to Buy LIC New Money Back 20 Years Plan

Here is the list of documents required to buy the LIC New Money Back 20 Years Plan:

  • Photo ID Proof: Passport, Aadhaar card, PAN card, Driving Licence (any one of these).
  • Age Proof: Passport, Aadhaar card, PAN card, Driving Licence (any one of these).
  • Address Proof: Utility Bill, Passport, Voter ID, Ration Card (any one of these).
  • Medical Records: Medical records of the policyholder, if requested.
  • Income Proof: Bank statement, last three months' salary slips (for salaried individuals) (any one of these).

Plan At a Glance

What's Good Here What's Missing
Death Benefits Premium Offset
Maturity Benefits High sum assured rebate
Participation in Profits Auto cover continuance
Additional Riders Top-up premium

In a Nutshell

If you are a businessman or a salaried individual, you can consider buying LIC New Money Back 20 Years Plan so that your family is financially protected even in your absence. You will also get benefits in case you survive the policy term.

For more information about this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.

Eligibility Criteria for LIC New Money Back 20 Years

Entry age
Entry age
Minimum Age - 13 years, Maximum Age - 50 years
Maturity age
Maturity age
Maximum Maturity Age - 70 years
Policy tenure
Policy tenure
20 years
Premium payment term
Premium payment term
15 years
Premium payment frequency
Premium payment frequency
Annual, half-yearly, quarterly & monthly
Sum assured
Sum assured
Rs 1 lakh to No limit

Pros & cons

A quick honest summary — the strengths and the trade-offs.

Pros

  • Death Benefits
  • Maturity Benefits
  • Loyalty Additions

Cons

  • No pre-existing condition
  • No auto-cover continuance
  • No guaranteed benefit

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Minimum entry age - 13 years
Maximum entry age - 50 years
Minimum sum assured - Rs 1 lakh
Maximum sum assured - No limit
Maximum policy term - 20 years

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Frequently Asked Questions

The 4 most-asked questions about LIC New Money Back 20 Years, answered.

Under LIC Money Back Plan-20 years, the premiums can be paid regularly in yearly, half-yearly, quarterly or monthly mode.
No, the plan offers a grace period of 30 days, wherein you can pay your premiums within the date of the first unpaid premium. Your policy will remain in force with all the benefits. If the premium is not paid before the expiry of the days of grace, the policy lapses.
No, you cannot. Policy loans can only be availed under the policy if at least two full years’ premiums have been paid.
There is no limit to the maximum Basic Sum Assured under LIC Money Back Plan. However, the amount hose should be in multiples of Rs. 5000.

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