The LIC money back policy calculator estimates premium and year-wise payouts for New Money Back 20 years (720), New Money Back 25 years (721), New Children's Money Back (732) and Bima Shree (748). Plan 720 returns 20% of the sum assured every five years. A 30-year-old taking ₹5 lakh under Plan 720 pays about ₹38,705 a year and receives about ₹9.5 lakh in total.
LIC Money Back Premium & Payout Calculator
Your estimate
40% of sum assured + bonus
- Premium per instalment
- ₹38,705
- Survival benefits (money back)paid at the end of years 5, 10 and 15
- ₹1,00,000
- Total premium paid
- ₹5,80,575
- Total bonus (estimated)
- ₹4,50,000
- Total returns
- ₹9,50,000
- Sum assured on deathplus bonuses accrued; money backs already paid are not deducted
- ₹6,25,000
- Approx. return (IRR)
- 5.29%
- Premium paying term
- 15 years
- Age at maturity
- 50 years
- Total premium paid₹5,80,57561%
- Net gain₹3,69,42539%
Money back schedule (bonus at the assumed rate)
| Policy year | Your age | Premium paid till then | Payout |
|---|---|---|---|
| 5 | 35 years | ₹1,93,525 | ₹1,00,000 |
| 10 | 40 years | ₹3,87,050 | ₹1,00,000 |
| 15 | 45 years | ₹5,80,575 | ₹1,00,000 |
| 20 | 50 years | ₹5,80,575 | ₹6,50,000 |
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What does the money back calculator do?
A money back policy is an endowment plan that returns part of the sum assured at fixed intervals instead of all of it at the end. You get cash along the way for planned expenses, and your family keeps the full life cover throughout.
This calculator covers LIC’s four current money back plans:
| Plan | Policy term | Premium term | Money back | At maturity |
|---|---|---|---|---|
| 720 New Money Back, 20 years | 20 years | 15 years | 20% at years 5, 10, 15 | 40% + bonus |
| 721 New Money Back, 25 years | 25 years | 20 years | 15% at years 5, 10, 15, 20 | 40% + bonus |
| 732 New Children’s Money Back | 25 − child’s age | Same as term | 20% at child’s ages 18, 20, 22 | 40% + bonus at 25 |
| 748 Bima Shree (₹10 lakh+) | 14, 16, 18, 20, 24 or 28 years | Term − 4 | Two payouts of 30–45% late in the term | 10–40% + guaranteed additions + loyalty |
For each plan, it shows the yearly premium, the instalment for your mode, total premium, the money back amounts, maturity value, death benefit and the IRR. The year-wise schedule lists each payout with the policy year and your age. The results come straight from each plan’s own calculator on this site, so they always match the plan pages.
We are an independent site, not LIC. Figures are estimates for planning, not quotations.
How it works
- Premium. For all four plans, the premium follows the sample premiums LIC publishes in each plan’s sales brochure, reproduced exactly at the published ages (for example ₹16,082 a year for ₹2 lakh under Plan 720 at age 30) and interpolated in between. LIC’s high sum assured rebate and the 2% yearly or 1% half-yearly mode rebate are applied.
- No GST. Since 22 September 2025, individual life insurance premiums are exempt from GST. Receipts from before that date show 4.5% GST in the first year and 2.25% later; that no longer applies.
- Money back. Each instalment is a fixed percentage of the sum assured, paid at the end of the policy year shown.
- Bonus and maturity. Bonus rate × sum assured ÷ 1,000 × policy term. It is added on the full sum assured and paid with the last instalment.
- Death benefit. For 720, 721 and 748: higher of 125% of the sum assured or 7 times the annual premium, never below 105% of premiums paid, plus bonus or additions. Plan 732 follows its own rules.
- IRR. Premiums go out at the start of each year; money back and maturity come in. The balancing rate is your yearly return.
Worked example
Plan 720, age 30, ₹5 lakh sum assured, yearly mode, bonus ₹45:
| Policy year (age) | You pay | You receive |
|---|---|---|
| Years 1–15 | ₹38,705 a year (₹5,80,575 total) | — |
| Year 5 (35) | — | ₹1,00,000 |
| Year 10 (40) | — | ₹1,00,000 |
| Year 15 (45) | — | ₹1,00,000 |
| Year 20 (50) | — | ₹6,50,000 (₹2 lakh + ₹4.5 lakh bonus) |
| Total | ₹5,80,575 | ₹9,50,000 |
The death cover is at least ₹6,25,000 plus bonus at any point, and the IRR works out to about 5.3%. Paying monthly costs about ₹3,294 an instalment (₹5,92,920 over 15 years).
Plan 721, age 30, ₹10 lakh: premium about ₹59,865 a year for 20 years (₹11.97 lakh in total). You receive ₹1.5 lakh at years 5, 10, 15 and 20, then about ₹15.25 lakh at year 25, a total of ₹21.25 lakh. The IRR is about 5.06%.
Plan 748, age 30, ₹10 lakh, 16-year term: premium ₹92,071 a year for 12 years (₹11.05 lakh in total). You receive ₹3.5 lakh at years 12 and 14 and about ₹9.55 lakh at year 16, a total of ₹16.55 lakh; the IRR is about 4.38%.
Tip: bonus makes or breaks a money back plan. Lower the bonus in the Plan 720 example from ₹45 to ₹35 and the total falls to ₹8.5 lakh, with the IRR at about 4.2%. Check the bonus LIC declared last year before relying on the default.
Premium chart (₹10 lakh, yearly)
| Age | Plan 720 | Plan 721 |
|---|---|---|
| 18 | ₹76,294 | ₹58,221 |
| 25 | ₹76,945 | ₹59,180 |
| 35 | ₹79,320 | ₹62,095 |
| 45 | ₹85,813 | ₹68,490 |
How to read the results
- Total returns is every rupee you receive: the money back instalments plus the maturity amount with the assumed bonus.
- Survival benefit is the money back part: for Plans 720, 721 and 748 it shows each instalment. Estimated maturity amount is the last payment.
- Sum assured on death is the minimum your nominee receives at any time, with bonus added on top. Money back already paid is not deducted.
- IRR is the fairest way to compare this plan with a recurring deposit or PPF, because it accounts for the timing of every payment.
- Open the year-wise table to plan around the exact years cash will arrive.
Tips and common mistakes
- Match payouts to goals. Plan 720 gives cash every five years, which suits school-to-college milestones. Plan 721 spreads smaller amounts over 25 years.
- Money back reduces surrender value. Each instalment you receive is part of the policy’s value, so surrendering after a payout gives less than you might expect.
- Don’t reinvest payouts in a savings account. Park them where they earn at least as much as the policy, or use them for the goal they were meant for.
- Life cover is limited. 125% of ₹5 lakh is not enough protection for most families. Buy a separate term plan for real cover.
- Pay yearly. Monthly payment costs about ₹12,000 more over 15 years in the Plan 720 example.
Related calculators
- LIC New Money Back Plan 720: full details of the 20-year plan.
- LIC New Money Back Plan 721: full details of the 25-year plan.
- LIC Bima Shree Plan 748: the high sum assured money back plan.
- LIC surrender value calculator: check the value if you exit early.
Frequently asked questions
How does the LIC money back plan 20 years (720) pay out?
Plan 720 pays 20% of the sum assured at the end of the 5th, 10th and 15th years. At the end of the 20th year you receive the remaining 40% plus all bonuses. You pay premiums for 15 years.
What is the payout schedule of LIC money back 25 years (721)?
Plan 721 pays 15% of the sum assured at the end of years 5, 10, 15 and 20, and the remaining 40% plus bonuses at year 25. Premiums are paid for 20 years. Entry age is 13 to 45.
What is the premium for LIC money back with ₹5 lakh sum assured?
For a 30-year-old under Plan 720, our calculator estimates about ₹38,705 a year for 15 years, or about ₹3,294 a month. Under Plan 721, ₹10 lakh cover at the same age costs about ₹59,865 a year for 20 years. Both follow the sample premiums in LIC's brochures.
Is bonus paid on the full sum assured after money back?
Yes. LIC adds the yearly bonus on the full basic sum assured for the whole term, even after part of it has been paid back as survival benefit. All accrued bonus is paid at maturity or on death.
What return does an LIC money back policy give?
In our Plan 720 example the IRR is about 5.3% at a ₹45 bonus and about 4.2% at ₹35. Without any bonus it would be negative, so the return depends heavily on the bonus LIC declares.
What happens if the policyholder dies after receiving money back?
The nominee still gets the full death benefit: the higher of 125% of the sum assured or 7 times the annual premium, plus accrued bonus. Money back instalments already paid are not deducted.
Are LIC money back payouts taxable?
Survival benefits and maturity are generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) if the annual premium is within 10% of the sum assured and the aggregate premium limits for non-ULIP policies are met. Premiums qualify for Section 123 of the Income-tax Act, 2025 (earlier Section 80C) under the old regime.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.