LIC New Money Back Plan 721 Calculator: Long-Term Payouts for Lasting Security

1. Introduction

You access a free online tool to estimate your insurance premiums, survival benefits, and maturity returns in seconds. This participating, non-linked individual savings plan delivers periodic income over 25 years. It combines life cover with wealth accumulation because your family goals demand both protection and growth.

You skip visits to LIC branches or waits for agent quotes. The calculator uses official LIC rate tables so you receive instant and accurate results. Young savers in 2026 rely on it because steady premiums produce 15 percent returns four times plus bonuses.

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2. About the Plan - Key Details

Plan Overview: You select a participating, non-linked individual life savings plan. Plan code 721. UIN 512N278V03. It suits investors with long timelines because protection pairs with regular survival benefits to meet your changing needs.

Entry Age Limits: Entry age starts at 13 completed years. It ends at 45 years by nearer birthday. Maturity reaches 70 years so coverage lasts.

Policy and Premium Terms: Your policy lasts 25 years. You pay premiums for 20 years. Benefits build as payments decrease over time.

Sum Assured: Sum assured begins at Rs 200,000. No upper limit exists in multiples of Rs 25,000.

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3. Key Features & Benefits

Maturity Benefits: Maturity pays 40 percent of basic sum assured plus simple reversionary bonuses (SRB) and final additional bonus (FAB). These close your policy strong.

Survival Benefits: Survival benefits give 15 percent of sum assured at the end of 5th, 10th, 15th, and 20th years. You use funds for travel or upgrades because they arrive when you need them.

Death Benefits: Death benefits pay the higher of 125 percent sum assured, seven times annualized premium, or 105 percent premiums paid.

Tax Perks: You deduct premiums up to Rs 1,50,000 under Section 80C. Proceeds qualify for exemption under 10(10D) if you follow rules.

Loans and Riders: You borrow up to 75 percent of surrender value from year one at 9.5 percent interest. Riders for critical illness let you customize.

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4. How to Use the Calculator

You start Plan 721 planning with this tool. Steps guide you clearly for any user.

Step 1: Enter Date of Birth

You begin in the left form under Enter Your Details. The Date of Birth field sits ready. You tap the calendar picker to select your date. The system uses nearer birthday rule. Ages outside 13 to 45 years show an error.

Step 2: Input Sum Assured

You enter Sum Assured in rupees from Rs 200,000 minimum. You test values to view changes in four 15 percent survival benefits.

Step 3: Select Policy Term

The dropdown sets 25-year term. It starts your 20-year premium schedule and benefits at years 5, 10, 15, and 20.

Step 4: Choose Premium Mode

You select Premium Mode options. Yearly suits simple payments. Monthly eases budgets.

Step 5: Calculate and Review

You press Calculate. Results fill the right side with premiums by year or mode, totals over 20 years, four 15 percent benefits, maturity with bonuses, and death covers in rupees.