New Endowment Plan

New Endowment Plan

"In case you are not there to hold him make sure you leave a safety net for him"

Benefits:

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

How does this policy work?

Eligibility Criteria Minimum Maximum
Age 18 Years (Completed) 50 Years(Near Birthday)
Policy Term 15 Years 35 Years
Premium Payment Term Same as Policy Term Same as Policy Term
Basic Sum Assured Rs. 1 Lac No Limit
Maximum Maturity Age 75 Years (Near Birthday) 75 Years (Near Birthday)
Rider LIC’s NEW CRITICAL ILLNESS BENEFIT RIDER(CIR) LIC’s NEW CRITICAL ILLNESS BENEFIT RIDER(CIR)
Rider LIC's NEW TERM ASSURANCE RIDER (TR) LIC's NEW TERM ASSURANCE RIDER (TR)
Rider LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER LIC's ACCIDENTAL DEATH AND DISABILITY BENEFIT RIDER
Rider LlC's ACCIDENT BENEFIT RIDER LlC's ACCIDENT BENEFIT RIDER