MONEYBACK POLICY

Bachelor of Commerce
Banking & Insurance
Semester VI
Submitted
In Partial Fulfillment
of the requirements
For the Award of Degree of
Bachelor of Commerce- Banking & Insurance
By
Akash Kate
035
Parle Tilak Vidyalaya Associations
M.L.DAHANUKAR COLLEGE OF COMMERCE
Dixit Road, Vile-Parle (E)
Mumbai400057.

[i]

DECLARATION
M.L.DAHANUKAR COLLEGE OF COMMERCE
Dixit Road, Vile-Parle (E) Mumbai- 400057.
I, Akash Kate the student of T.Y.B.Com. Banking & Insurance
Semester VI (2015- 2016) hereby declare that I have completed the
CERTIFICATE
project on MONEYBACK
POLICY.
The information submitted is true and original to the best of my
knowledge.
This is to certify that
Mr.Akash Kate, Roll no:14 of Third Year
B.Com. Banking & Insurance, Semester VI (2015- 2016) has
successfully completed the project on MONEYBACK POLICY under
the guidance of Miss Shivani.

_____________________
Principal

Course Coordinator

(Signature of the student)

Akash Kate
035

Project Guide/ Internal Examiner

External Examiner

[iii]
[ii]

[iv]

ACKNOWLEDGEMENT

To list who all have helped me is difficult because they are so numerous and the depth is so
enormous.

I would like to acknowledge the following as being idealistic channels and fresh dimensions
in the completion of this project.

I take this opportunity to thank the University of Mumbai for giving me chance to do this
project.

I would like to thank my Principal, Dr.Madhavi S. Pethe for providing the necessary
facilities required for completion of this project.

I take this opportunity to thank our Coordinator Prof.Mrs.Mitali Shelankar, for her moral
support and guidance.

I would also like to express my sincere gratitude towards my project guide Miss Shivani
whose guidance and care made the project successful.

I would like to thank my College Library, for having provided various reference books and
magazines related to my project.

Lastly, I would like to thank each and every person who directly or indirectly helped me in
the completion of the project especially my Parents and Peers who supported me
throughout my project

[v]

INDEX
Sr
No
1.

1.1
1.2
1.3
1.4
1.5

1.6
1.7
2.

2.1
2.2
2.3
2.4
2.5
3.

3.1
3.2
3.3

Topic

Page
No

Introduction To Life Insurance Corporation

of India
History
About Life Insurance Corporation Of India
Initiatives
List of Life Insurers (as of November 2013)
Introduction To ICICI Prudential Life Insurance
Co. Ltd
What isCash Back?
ICICI PruCash Back Plan
Introduction To LICS Money Back Plan
Features
Benefits
Plan Parameters
LIC's NEW MONEY BACK PLAN - 20
YEARS (UIN: 512N280V01)
LIC's NEW MONEY BACK PLAN-25 YEARS
(UIN: 512N278V01)
Statistical Data
Agency Strength
Money Back Plan
Benefits you get from ICICI PruCash back
Plan
The below illustration is based on assumed
rates of return based on the future
performance of the company
Comparison in New and Old Money Back

3.4

3.5
[vi]

Plan 20 Years
Comparison in New and Old Money Back
3.6
Executive summary
Plan 25 Years
LIC at its Best position
3.7
The money-back
plan Back
provides
life 20
insurance
cover for a specific period.
LicMoney
Policy
Years Plan
3.8 theLICs
During
term of
theMoney
policy, Back
the insured
receives
New
Plan 20
Years tax-free, fixed
3.9
proportions
of the
sumMoney
assured
at regular
intervals.
LICs
New
Back
Plan- 25
Years On maturity i.e. on
3.10
surviving
the entire
term &
ofCase
the policy,
Articles
Study the insured receives the balance
portion ofArticle
the sum
assured,
if any,1,plus
the bonus/participating
profit/
1 From
October
service
tax to
4.
guaranteed addition
term ofcostlier
the policy, if any, or the value of the
makefor
LICthepolicies
4.1
investments.
Money
back Article
policy provides
periodic payments of
Times
Of India
on MoneyforBack
partial survival benefitsPolicy
during the term of the policy, as long as the
policyholder
alive. An
important
of money back policies is
AreisMoney
Back
Policiesfeature
productive?
4.2
that in the event
death at
within
the policy term, the death
Yieldofcritical
in anytime
money-back
policy
claim comprises full Conclusion
sum assured without deducting any of the survival
4.3
benefit amounts,
which
may have already been paid as money-back
Books
of Reference/Bibliography
4.4
components. The bonus is also calculated on the full sum assured. A
policy where lump sum amounts are paid to the life assured at periodic
intervals on survival. In case of death of the life assured within the term,
the total sum insured is paid to the nominee, irrespective of earlier
survival benefits. Bonus is payable under this scheme. Premiums are to
be paid regularly to get survival benefits. Premiums cease at death or on
expiry of term whichever is earlier.

[viii]
[vii]