New Endowment Plan – 914
LIC’S has introduced New Endowment Plan (Table No – 814) Non Linked Conventional plan with profits on dated 03 January 2014. The Silents Feature of the plan are as under:
Key Features
- 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.
- 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:
| 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 2 years |
| Surrender |
After 2 years of full premium payment |
