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The Money Back policy offers various benefits like death benefit, maturity benefit and survival benefit along with bonus which is paid along with the sum assured. In the money-back policy, you can receive an amount as money back is depending on the policy term. For example, for a 14-year Policy receive 30% of Sum-assured after the 10th, 12th years of the policy. The remaining 40% is payable in the 14th year as the money-back amount. By the end you get 100% of the sum assured as a survival benefit and other bonuses.
The 20 – 30 % sum assured is paid to the policyholder at the particular policy years. The remaining sum will be paid as the maturity benefit. If the customer dies, the nominee will receive a death benefit. If the policyholder does not die in the existing policy period, the 100% money-back policy benefits will achieve to the customer from the insurer.
Also read to know more about Max Life Insurance: Premium Receipts, Surrender Value, Auto Pay
To check your LIC Life Insurance policy claim status online, follow these steps:
The process of surrendering an LIC life insurance policy online is easy. To surrender your LIC life insurance policy online, send an email to LIC life insurance customer service with the reason for surrendering the policy along with the required policy details and other documents. Once the surrendering form is submitted to the insurance provider, they will surrender the policy. The surrendering process may take some time to complete. Wait for confirmation from LIC Life Insurance that your policy has been successfully cancelled. Once the refund application is approved the refund amount is credited to your account.
To check the fund value of your LIC (Life Insurance Corporation of India) life insurance policy online, follow these steps:
To download an Edelweiss Tokio life insurance policy statement, you typically need to follow the below steps.
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