Calculate the premium and all payouts for LIC New Money Back Plan, both the 20-Year (512N280V03) and 25-Year (512N281V03) variants. See exactly when cash lands in your hands and how much death cover your family has throughout.
| Year | Cum. Premium | Cum. SRB | Survival Benefit | GSV (approx.) | Death Benefit | Maturity |
|---|
Most endowment plans ask you to wait the full term before seeing any money. LIC's New Money Back Plan works differently. Every five years, a portion of your Sum Assured is paid directly to you as a Survival Benefit. The death cover does not reduce as these payouts happen. Your family is protected for the full Sum Assured on Death throughout the entire policy term, even after you have collected cash mid-term.
Two plans are available. The 20-Year Plan (UIN: 512N280V03) has a 15-year premium paying term and pays out three times during the policy. The 25-Year Plan (UIN: 512N281V03) has a 20-year premium paying term and pays out four times. Both earn SRB bonuses throughout the full policy term and receive a Final Additional Bonus at maturity or death. All premiums are GST-exempt from 22 September 2025.
20-year plan: 20% of BSA arrives at years 5, 10, and 15. 25-year plan: 15% of BSA arrives at years 5, 10, 15, and 20. On a Rs.5 lakh BSA, that is Rs.1 lakh or Rs.75,000 landing in your account at each payout.
Each survival payout does not reduce the death benefit by a single rupee. Your nominee receives the full Sum Assured on Death, which is the higher of 125% BSA or 7 times the annual premium, regardless of how many payouts you have already collected.
The 20-year plan asks for 15 years of premiums. The 25-year plan asks for 20 years. After the premium period ends, the policy runs for the remaining years with no further payment, while bonuses keep accumulating.
Rs.7 per Rs.1,000 BSA accrues as Simple Reversionary Bonus every year for the full 20 or 25-year term. The Final Additional Bonus is added at maturity or on death. These bonuses sit on top of the guaranteed BSA payouts, not instead of them.
BSA of Rs.5 lakh and above earns a rebate of 3 per mille (0.3%) of BSA deducted from the annual premium. On a Rs.10 lakh BSA, that is Rs.3,000 per year off the base premium.
After one full year of premiums, borrow up to 50% of the surrender value. After two full years, the limit rises to 75%. Interest is 9.5% per annum compounding half-yearly. The policy stays in force during the loan period.
All individual life insurance premiums are GST-exempt from 22 September 2025. The premium shown in this calculator is what you pay with nothing extra added.
Maturity and death benefits do not have to be taken as a lump sum. LIC allows payment in monthly, quarterly, half-yearly, or annual instalments over 5, 10, or 15 years. Useful for nominees who would benefit from a structured income rather than a single large payment.
| 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 transfers 20% of the BSA to your bank account at the end of years 5, 10, and 15, as long as all premiums are paid for that year. The death cover does not shrink after each payment. A policyholder who has collected all three survival payouts totalling 60% BSA still has the full Sum Assured on Death available for their nominee. At maturity, the remaining 40% BSA arrives along with the full accumulated SRB and FAB. Add it all up: 60% in mid-term payouts plus 40% at maturity is 100% of BSA guaranteed, plus bonuses on top.
Simple Reversionary Bonus (SRB): LIC declares Rs.7 per Rs.1,000 BSA every year. This is verified against LIC's own brochure: for Age 30 with Rs.2 lakh BSA, year 1 SRB is Rs.1,400 and the cumulative by year 2 is Rs.2,800. The SRB accrues for the entire 20 or 25-year policy term regardless of which survival payouts have been collected. It is added to the claim amount at maturity or death.
Final Additional Bonus (FAB): A one-time bonus paid only when the policy results in a claim. At the conservative scenario it is zero. At the optimistic scenario it is approximately Rs.420 per Rs.1,000 BSA for the 20-year plan and Rs.560 per Rs.1,000 for the 25-year plan, based on LIC's own benefit illustration tables. The 25-year plan's higher FAB reflects the longer accumulation period.
| 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.
From 22 September 2025, all individual life insurance premiums are GST-exempt. The 4.5% first-year and 2.25% ongoing structure that applied before September 2025 is gone for all payment modes. The net premium shown in this calculator is what you pay. Nothing is added on top.
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, the Rs.7 SRB rate, FAB estimates, and rebates all come from LIC's official brochure for plans 512N280V03 and 512N281V03. Cross-check: Age 30, Rs.2 lakh BSA, 20-year plan at the conservative scenario gives a maturity of Rs.1,08,000 which matches the brochure. At the optimistic scenario the maturity is Rs.1,92,000, which also matches. GST is correctly shown as Rs.0 from 22 September 2025. For a precise personalised quote, verify with a licensed LIC agent.
