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LIC NEW POLICY - New Endowment (914)

New Endowment (914)


  • Plan:     New Endowment (914)
  • Product Summary: New Endowment Plan (914) is a regular premium, non-linked, with-profits Endowment Plan.
  • Premium Payment Mode: Yearly, Half, 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: 1,00,000
  • 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 7 times of Annualized Premium, OR 105%of all Premiums paid as on death, WHICHEVER IS HIGHER.

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 2 full years' premiums have been paid.

Loan: Loan Facility is available under this plan, after payment of premiums for at least 2 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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