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)
Term :
12 to 35 yearsMinimum Entry Age :
8 Year Completed
Maximum Entry Age :
55 Year (Nearest Birthday)
Maximum Maturity Age :
75 Year
Minimum Sum Assured :
1,00,000
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.
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 :
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).
• Maturity under this plan is free under sec 10(10D).
Proposal Form :
300/340/360 shall be used under this plan.
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