LIC New Money Back 25 Years (Plan 921) is a with-profit money back plan launched on 1 February 2020 and later replaced by Plan 721. You pay for 20 years; LIC returns 15% of the sum assured at years 5, 10, 15 and 20, then 40% plus bonuses at year 25. A 30-year-old with ₹5 lakh pays about ₹29,336 a year and, at a ₹40 bonus, receives about ₹10 lakh in total.
Money Back 921 Premium & Payout Calculator
Your estimate
40% of sum assured + bonus
- Premium per instalment
- ₹29,336
- Survival benefits (money back)paid at the end of years 5, 10, 15 and 20
- ₹75,000
- Total premium paid
- ₹5,86,720
- Total bonus (estimated)
- ₹5,00,000
- Total returns
- ₹10,00,000
- Sum assured on deathplus bonuses accrued; money backs already paid are not deducted
- ₹6,25,000
- Premium paying term
- 20 years
- Age at maturity
- 55 years
- Total premium paid₹5,86,72059%
- Net gain₹4,13,28041%
Survival benefit (money back) schedule, bonus at the assumed rate
| Policy year | Your age | Premium paid till then | Payout |
|---|---|---|---|
| 5 | 35 years | ₹1,46,680 | ₹75,000 |
| 10 | 40 years | ₹2,93,360 | ₹75,000 |
| 15 | 45 years | ₹4,40,040 | ₹75,000 |
| 20 | 50 years | ₹5,86,720 | ₹75,000 |
| 25 | 55 years | ₹5,86,720 | ₹7,00,000 |
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 is LIC New Money Back 25 Years Plan 921?
LIC’s New Money Back Plan – 25 Years (Plan 921) is a non-linked, with-profit, limited premium money back policy. It was launched on 1 February 2020 alongside the 20-year Plan 920. It suits people who want cash at regular intervals over a long period, such as school and college stages, while keeping full life cover.
Plan 921 has been withdrawn and relaunched as LIC New Money Back Plan 721. Existing policies carry on unchanged. Use the calculator to check your payouts or to compare with the new version.
Plan 921 at a glance
| Feature | Details |
|---|---|
| Plan number | 921 |
| Launched | 1 February 2020 |
| Plan type | With-profit, limited premium money back |
| Policy term | 25 years |
| Premium paying term | 20 years |
| Entry age | 13 to 45 years (maturity by 70) |
| Minimum sum assured | ₹1,00,000, no upper limit |
| Survival benefits | 15% of sum assured at years 5, 10, 15, 20 |
| Maturity | 40% of sum assured + bonuses |
| Status | Withdrawn, replaced by Plan 721 |
Survival benefit (money back) schedule
| End of policy year | What LIC pays | On ₹5 lakh sum assured |
|---|---|---|
| 5 | 15% of basic sum assured | ₹75,000 |
| 10 | 15% of basic sum assured | ₹75,000 |
| 15 | 15% of basic sum assured | ₹75,000 |
| 20 | 15% of basic sum assured | ₹75,000 |
| 25 (maturity) | 40% of basic sum assured + bonuses | ₹2,00,000 + bonus |
The last money back arrives in the same year as your final premium, so from year 21 the policy costs nothing and keeps earning bonus.
How the premium is calculated
The calculator uses a rate per ₹1,000 sum assured that rises with entry age, subtracts ₹3 per ₹1,000 for covers of ₹5 lakh or more, and gives a 2% rebate for yearly payment (1% for half-yearly).
Worked example: a 30-year-old takes ₹5 lakh. The yearly premium is ₹29,336 for 20 years, ₹5,86,720 in all. At a bonus of ₹40 per ₹1,000 a year, the policy pays four ₹75,000 money backs and a maturity of ₹7,00,000, about ₹10,00,000 in total.
For a 28-year-old with ₹4 lakh, the premium is ₹24,538 a year. The money backs are ₹60,000 each and the maturity estimate is ₹5,60,000.
Tip: because 921 runs 25 years, bonus makes up half the total payout. A ₹5 change in the bonus rate moves the ₹5 lakh maturity by ₹62,500, so test a cautious rate too.
A note on our rate table
The rate sheet in our source listed premiums that were exactly twice the level implied by its own worked example (about ₹23,000 a year for ₹4 lakh at age 28). We halved those figures, which brings the calculator in line with the example and with sister Plan 920. Treat results as estimates and check your premium receipt.
Death benefit
If the life assured dies during the term, the nominee receives the higher of 125% of the basic sum assured or 7 times the annual premium, plus accrued bonuses. Money backs already paid are not deducted, and the total is never below 105% of premiums paid.
Loan, surrender and tax
The policy acquires a surrender value after two full years of premium, and a loan can be taken against it. Before surrendering, check the figure with our surrender value calculator. Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime), and 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)) within the premium limits. No GST applies to premiums from 22 September 2025.
Plan 921 vs Plan 721 vs Plan 920
| Point | Plan 921 | Plan 721 (replacement) | Plan 920 |
|---|---|---|---|
| Term / premium years | 25 / 20 | 25 / 20 | 20 / 15 |
| Money backs | 15% at 5, 10, 15, 20 | 15% at 5, 10, 15, 20 | 20% at 5, 10, 15 |
| Minimum sum assured | ₹1 lakh | ₹2 lakh | ₹1 lakh |
| Premium, age 30, ₹5 lakh | about ₹29,336 | about ₹29,933 | about ₹30,380 |
| On sale | No | Yes | No |
For a quick generic estimate across money back plans, use the money back policy calculator.
Frequently asked questions
Is LIC Money Back Plan 921 still available?
No. Plan 921 has been withdrawn and replaced by LIC New Money Back Plan 721, which keeps the 25-year term, 20-year premium payment and four 15% money backs. Existing 921 policies continue on their original terms.
What is the money back schedule of Plan 921?
LIC pays 15% of the basic sum assured at the end of the 5th, 10th, 15th and 20th policy years, 60% in all. The remaining 40%, plus simple reversionary bonuses and any final additional bonus, is paid at the end of the 25th year.
What is the premium for LIC 921 at age 30?
For ₹5 lakh sum assured, a 30-year-old pays about ₹29,336 a year after rebates, for 20 years. For ₹10 lakh the yearly premium is about ₹58,673. At age 28 with ₹4 lakh cover, it is about ₹24,538.
What is the maturity value of Money Back 921?
Maturity is 40% of the sum assured plus bonuses. On ₹5 lakh at ₹40 per ₹1,000 a year for 25 years, bonuses add ₹5 lakh, so maturity is about ₹7 lakh. With the four ₹75,000 money backs, total receipts are about ₹10 lakh.
Can I take the 921 maturity amount in instalments?
Yes. Instead of a lump sum, the maturity amount can be taken in instalments over 5, 10 or 15 years under the settlement option. Ask LIC about the option well before the maturity date.
What is the death benefit in LIC 921?
The nominee gets the higher of 125% of the basic sum assured or 7 times the annual premium, plus accrued bonuses, without deducting money backs already paid. For ₹4 lakh cover that is at least ₹5,00,000 plus bonus.
How is 921 different from 721?
Plan 721 has the same payout pattern but new rates and a ₹2 lakh minimum sum assured. At age 30 with ₹5 lakh, 721 costs about ₹29,933 a year against about ₹29,336 for 921, so the premium is nearly the same.
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.