NEW ENDOWMENT (814)
Product Summary :
LIC New Endowment Plan (814) is a regular premium, non-linked, with profits Endowment Plan.
Premium Payment Mode:
Yearly, Halfly, Quarterly, Monthly(ECS)
12 to 35 years
Minimum Entry Age :
8 Year Completed
Maximum Entry Age :
55 Year (Nearest Birthday)
Maximum Maturity Age :
Minimum Sum Assured :
Maximum Sum Assured :
NO LIMIT (Depending upon Income)
Maximum Accidental Death and Disability Benefit Rider up to age 70.
Policy Benefits :
On Death :
Sum Assured + Vested Bonus + FAB if any.,OR
10 times of Annualized Premium, OR
105%of all Premiums paid as on death,
WHICHEVER IS HIGHER.
On Survival :
On survival Basic Sum Assured + Vested Bonus + FAB if any.
Surrendered Value :
The Policy can be surrendered at any time during the policy term provided atleast 3 full years premiums have been paid.
Loan Facillity is available under this plan, after payment of premiums for at least 3 full years.
Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).
Proposal Form : 300/340/360 shall be used under this plan.