New Money Back 20yr (Plan 920)

LIC New Money Back Plan (920) provides periodic survival benefits during the policy term along with life cover. You receive 20% of Sum Assured at 5th, 10th, and 15th year, and the remaining 40% plus bonuses at maturity (20th year).

Minimum entry age is 13 years and maximum entry age is 50 years.

No! From September 22, 2025, GST on all individual LIC policies including New Money Back 20yr is 0%. Earlier, endowment plans had 4.5% GST and term plans had 18% GST. This saves you significantly — for example, ₹10L SA endowment saves ₹2,688/yr.

Use our free LIC Calculator on this site. Select Plan 920, enter your age, sum assured and policy term — get instant accurate premium using LIC official tabular rates. The calculator includes all rebates and 2025-26 bonus slabs.

Surrender is available after 3 full years of premium payment. You receive the higher of Guaranteed Surrender Value (30%-90% of premiums paid) or Special Surrender Value. However, surrendering early results in significant loss. Consider a policy loan at 10% instead.

You need: (1) Identity proof — Aadhaar/PAN/Passport, (2) Address proof — Aadhaar/Utility bill, (3) Age proof — Birth certificate/School certificate, (4) Income proof for high SA — Salary slip/ITR, (5) Passport-size photographs, (6) Filled proposal form from LIC branch or online.

For 2025-26, the Reversionary Bonus for New Money Back 20yr is ₹35/1000 SA/year. Additionally, Final Addition Bonus (FAB) of ₹500/1000 SA is paid at maturity or death. If SA ≥ ₹5L, extra ₹1/1000/yr bonus is added under 2025-26 new slab.