NEW ENDOWMENT PLAN
Lic’s New Endowment Plan gives you the best saving and protection benefits to you and your family and this plan is a non linked plan which offers your family financial support at the time of adversity before the maturity period and after maturity period the policyholder can enjoy the survival benefits.
Min Basic Amount Assured: Rs 1,00,000
Max Basic Amount Assured: No Limit
Min Policy Time: 12 Years
Max Policy Time: 35 Years
Min Entry Age: 8 Years
Max Entry Age: 55 Years
Max Age at Maturity for Life Assured: 75 years
Premium Payment Mode: Monthly, Quarterly, Half-yearly, Yearly
The benefit of Accidental Death and Disability Rider is applicable on payment of additional premium.
LIC’S NEW ENDOWMENT PLAN BENEFITS
1 Survival Benefit: Basic Sum Assured + Vested Bonus +FAB if any
2 Death Benefit: Sum Assured + Vested Bonus + FAB if any
Sum Assured is higher of 10 times of Annualized Premium or 105% of all Premiums paid on death.
3 Surrendered Value Benefit: the Policyholder can surrender his policy at any time during his policy term but the condition is that first three full years premium is paid.
4 Loan Benefit: After payment of premium for three full years than you can use loan facility.
5 Income Tax Benefit: Tax Rebate is available when you pay the premium under this plan section is 80c and under sec10(10D) maturity is free for this plan.