Best LIC PolicyEndowment Plans

New Endowment Plan – 814

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 Apply8 Years (Completed)
Maximum Age to Apply55 Years (Nearest Birthday)
Policy Term (Premium Payment Term)12 to 35 Years
Maximum Maturity Age75 Years
Premium Paying ModeYearly, Half Yearly, Quarterly, Monthly (ECS Only)
Basic Sum Assured100000 and above ( in multiples of 5000)
LoanAfter 3 years
SurrenderAfter 3 years of full premium payment