New Endowment (914)
- LIC’s new endowment plan which gives the individual, life assurance along with savings.
- The risk coverage under this plan enhances every year as LIC declared the bonuses. However, the premium does not change.
- The customer gets the tax-free maturity under this plan which includes the bonus also along with Sum Assured.
- This plan has an option of choosing the Accidental Life cover, Disability Benefit & Critical illness cover.
- In case of a minor, this plan also has the premium waiver benefit in case of death of the parent.
- This plan also has the option of taking the Maturity proceeds in instalments as the policy-holder can choose the no of year as 5, 10 or 15.
- In a similar way, the policyholder also has the option of choosing the death benefit in instalments.
- LIC also offer the discount in the premium in case the mode of payment is Yearly.
- The loan is also available to the policyholder after the completion of 2 years of the policy.
- Settlement option avilable on Maturity and Death in Installments of 5,10 or 15 Years
Sample illustration
| Min. | Max. | |||
| Age | 8 Years (Completed) | 55 Years (Nearest Birthday) | ||
| Policy Term | 12 Years | 35 Years | ||
| Premium Payment Term | Same as Policy Term | |||
| Basic Sum Assured | Rs. 1 Lac | No Limit | ||
| Maximum Maturity Age | 75 Years (Near Birthday) | |||
| Rider | LIC’s NEW CRITICAL ILLNESS BENEFIT RIDER(CIR) | |||
| Rider | LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER | |||
| Rider | LlC's ACCIDENT BENEFIT RIDER | |||
| Rider | LIC’s PREMIUM WAIVER BENEFIT RIDER (PWB) - If life assured is Minor | |||
| Rider | LIC's NEW TERM ASSURANCE RIDER (TR) | |||