NEW ENDOWMENT PLAN
LIC’s NEW ENDOWMENT PLAN (Plan No. 914) is a unique combination of protection and savings. It’s a Non Linked with profits conventional plan which is best for child education and marriage.
KEY FEATURES OF NEW ENDOWMENT PLAN
- Cover from age group 08 to 55 years.
- Wide policy term range from 12 to 35 years.
- Eligible for all Bonuses and Final Addition Bonuses declared by LIC.
- Term Rider Benefit Available
- Double Accident Rider Available.
- PWB Rider is also available in this plan for minors.
- Double Tax Benefit Available (Premium Paid gives 80C Tax Benefit up to Rs. 1,50,,000 and Maturity is also Tax Free under section 10(10D)).
- Loan and Surrender Facility Available.
MATURITY BENEFIT
Basic Sum Assured + Vested Bonus + FAB.
DEATH CLAIM BENEFIT
In case of death during policy term of the plan, Sum Assured Along With Bonus and Final Addition Bonus Will Be Paid to the Nominee.
ELIGIBILITY CRITERIA FOR NEW ENDOWMENT PLAN
| Minimum Age to Apply | 8 Years (Completed) |
| Maximum Age to Apply | 55 Years (Nearest Birthday) |
| Policy Term (Premium Payment Term) | 12 to 35 Years |
| Maximum Maturity Age | 75 Years |
| Premium Paying Mode | Yearly, Half Yearly, Quarterly, Monthly (ECS Only) |
| Basic Sum Assured | 100000 and above ( in multiples of 5000) |
| Loan | After 3 years |
| Surrender | After 3 years of full premium payment |