LIC NEW ENDOWMENT PLAN

LIC NEW ENDOWMENT PLAN

LIC NEW ENDOWMENT PLAN

LIC New Endowment Plan (814) Details

LIC New Endowment Plan (LIC Table No 814) is offers Guaranteed Returns with Protections because it is a traditional life insurance plan. Any Person Can Take LIC New Endowment Plan for Min. 12 yrs and Maximum 35 Yrs.

BUY ONLINE LIC'S NEW ENDOWMENT PLAN

BUY ONLINE LIC’S NEW ENDOWMENT PLAN

Min. Age will be 8 yrs and Max. Age will be 55 Yrs. for take this Policy and can be continued till 75 yrs. of age. In this policy, Person Have to Pay Premium for the entire policy term. Maturity Benefit of LIC New Endowment Plan is Equal to The Sum Assured along with vested Simple Reversionary Bonus + Final Addition Bonus.

 



Key Features

LIC New Endowment plan is a combination of Endowment plus Term insurance.

LIC New Endowment Plan  participates in Profits.

In this Plan if person lives till end of Term of the policy will be given Maturity Benefit which is SUM ASSURED + BONUS +Final Additional Bonuses etc.

If person dies within the term of the Policy Death Benefit paid to Nominee i.e. SUM ASSURED + BONUS till death Year.

We can opt for Accident Benefit Rider and Critical Illness Rider by paying small Amount with the Premium.

In LIC New Endowment Plan there is High Bonus and High liquidity and saving.

Plan Parameters

ENTRY AGE Min. age – 8 yrs.

Max. age -55 yrs.

POLICY TERM Min. Term -12 yrs.

Max. Term -35 yrs.

SUM ASSURED Min. SUM ASSURED – Rs. 1, 00,000/-

Max. SUM ASSURED – No Limit (based on underwriting decision)

PREMIUM PAYING MODE Monthly (SSS, ECS), Quarterly, Half yearly, Yearly

Rebates

This plan provides discounts based on the Sum assured chosen by Policyholder.

Detailed given below.

Mode Rebate

            Yearly              – Table premium 2%.

            Half yearly     – Table Premium 1%.

Sum Assured Rebate

Sum Assured Rebate
Rs. 1,00,000/- to Rs. 1,95,000/- NIL
Rs. 2,00,000/- to Rs. 4,95,000/- 2.00 % Basic Sum Assured
Rs. 5,00,000/- and above 3.00 % Basic Sum Assured

Maturity and Death Benefits

Maturity Benefit

Sum Assured + Simple Reversionary Bonus + FAB (final additional bonus) if any.

Death Benefit

IF the Insured person dies within the Policy Term then Nominee  of the Policy will be given  “Death Benefit(Sum Assured on Death) + Simple Reversionary Bonus + FAB(final additional bonus)” if any.

HOW DOES LIC’S NEW ENDOWMENT PLAN 814 WORK?

HOW DOES LIC'S NEW ENDOWMENT PLAN 814 WORK?

LIC New Endowment (814) Plan with an Example

An example of SUNIL who is purchasing this Plan with following details.

Sum Assured: Rs.5,00,000
Policy Term: 21 Years
Policy Purchase Year: 2016
Age: 25 Years
Yearly Premium: Rs. 23892

Premium Calculator-LIC New Endowment Plan 814

Please select only plan no-814

Maturity Details

If policy holder SUNIL survives the policy term 21 years then Maturity will be as under.

Maturity Year Maturity Age Maturity Amount(approx)
2037 46 1054000

Year-wise Death Claim

If death happens during the policy term Before 21 years, Sum Assured + Bonus + Final Addition Bonus will be paid to nominee and it is indicated as Normal Life Cover. In case of accidental death, additional amount equal to sum assured is also payable to nominee; the calculation is indicated as Accidental Life Cover. Calculation of year wise and age wise death benefit according to accumulated bonus and FAB is illustrated below.

Year Age Risk Cover Normal Risk Cover Accidental Premium Tax Saved Net Premium Amount Received
2016 25 525000 1025000 23692 6859 16833 0
2017 26 550000 1050000 23277 6859 16418 0
2018 27 575000 1075000 23277 6859 16418 0
2019 28 600000 1100000 23277 6859 16418 0
2020 29 625000 1125000 23277 6859 16418 0
2021 30 650000 1150000 23277 6859 16418 0
2022 31 675000 1175000 23277 6859 16418 0
2023 32 700000 1200000 23277 6859 16418 0
2024 33 725000 1225000 23277 6859 16418 0
2025 34 750000 1250000 23277 6859 16418 0
2026 35 775000 1275000 23277 6859 16418 0
2027 36 800000 1300000 23277 6859 16418 0
2028 37 825000 1325000 23277 6859 16418 0
2029 38 850000 1350000 23277 6859 16418 0
2030 39 885000 1385000 23277 6859 16418 0
2031 40 912500 1412500 23277 6859 16418 0
2032 41 940000 1440000 23277 6859 16418 0
2033 42 967500 1467500 23277 6859 16418 0
2034 43 1000000 1500000 23277 6859 16418 0
2035 44 1035000 1535000 23277 6859 16418 0
2036 45 1075000 1575000 23277 6859 16418 0
2037 46 0 0 0 0 0 1075000

Additional Information

Risk Coverage:End of the Policy Term.

Date of Commencement of Risk: In case of children whose age is less than 8 years risk commencement starts either from 2 years of taking the policy or from achieving 8 years old which is earlier.

Locking period: 3 years.

Loan Facility: Available.

Income Tax Deduction:Under Section 80C for premiums paid and Section 10 (10D) for Maturity returns.

Loan: Loan is available

Riders available: Yes

Policy Revival: Policy can be revived before 2 years from date of First Unpaid Premium.

Suicide Clause: If insured commit suicide before 12 months, returned back 80% of premium what he paid to the nominee.

Proposal Forms: Proposal Form no. 300 or 340 will be used for this plan.

Cooling-off Period: If a policyholder is not satisfied with the Terms and Condition of the policy, he/she may return the policy within 15 days from the date of receipt of the policy.

Back-dating interest: The policies can be dated back within the same financial year.

Assignments/Nominations: assignment and nominations is possible under this plan.

BUY ONLINE LIC'S NEW ENDOWMENT PLAN

BUY ONLINE LIC’S NEW ENDOWMENT PLAN

Services that I offer

  • New LIC Policy Quotes and Completion
  • Complete guidance
  • Doorstep Premium Collection Service
  • Personalized Policy Recommendations
  • Renewal / Revival of Lapsed Policies
  • Human Life Value Calculation
  • Life Time Service

FOR MORE INFORMATION PLEASE CONTACT -:

BASPA NAND PANCHOLI

CON.9891009400 

Office Address:-25,KG,Marg,Jeevan Prakash Building.

LIC of India,Branch Unit-117.

3rd floor,C.P. New Delhi-110001.

ENDOWMENT PLAN                                

New Endowment plan 814

LIC New Jeevan Anand 815

Jeevan Lakshya pan 833

 New Jeevan Labh Endowment

Jeevan Pragati 838

New Limited Premium Endowment

Jeevan Rakshak Plan Table no 827


3 thoughts on “LIC NEW ENDOWMENT PLAN

  1. reetubisht

    best plans .i want to purchase some plan plz suggest me best plan,thanks

    Reply

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