LIC New Endowment Plan (814), All You Need to Know –

LIC New Endowment Plan (814), All You Need to Know

Plan :New Endowment Plan(814)


Product Summary :
LIC New Endowment Plan (814) is a regular premium, non-linked, with profits Endowment Plan.


Premium Payment Mode:
Yearly, Halfly, Quarterly, Monthly(ECS)


Term :
12 to 35 years


Minimum Entry Age :
8 Year Completed


Maximum Entry Age :
55 Year (Nearest Birthday)


Maximum Maturity Age :
75 Year


Minimum Sum Assured :


Maximum Sum Assured :
NO LIMIT (Depending upon Income)


Maximum Accidental Death and Disability Benefit Rider up to age 70.


Policy Benefits :


On Death :
Sum Assured + Vested Bonus + FAB if any.,OR
10 times of Annualized Premium, OR
105%of all Premiums paid as on death,


On Survival :
On survival Basic Sum Assured + Vested Bonus + FAB if any.


Surrendered Value :
The Policy can be surrendered at any time during the policy term provided at least 3 full years premiums have been paid.


Loan :
Loan Facility is available under this plan, after payment of premiums for at least 3 full years.


Income Tax Benefit :
• Premium paid under this plan is eligible for TAX rebate under section 80c.
• Maturity under this plan is free under sec 10(10D).


Proposal Form : 300/340/360 shall be used under this plan.


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