New Endowment (Table No: 814) of LIC, is a basic Life Insurance plan which provides adequate life cover during policy’s term and on maturity, this plan provides a healthy amount which can be used to fulfill financial requirements like children’s higher education and marriage. This plan may be recommended for everyone because of following reasons.
- A sound combination of Life insurance and investment.
- Low premium in comparison other plan in this category.
- Eligible for bonus and Final Addition bonus declared by LIC.
- Comparatively Higher Bonus
- Double Accidental benefit with rider.
- Tax saving on premium paid.
- Tax Free maturity amount.
|Age of Entry||8 to 55 years|
|Premium Paying Mode||Yearly, Half Yearly, Quarterly, Monthly (ECS Only)|
|Policy Term||12 to 35 Years|
|Basic Sum Assured||100000 and above ( in multiples of 5000)|
|Policy Revival||within 2 year|
|Premium Mode Rebate||2% on yearly, 1% on Half Yearly, Nil on Quarterly|
|Higher Sum Assured Rebate||0% on 0 to 1,95,000 of Sum Assured |
2% on 2,00,000 to 4,95,000 of Sum Assured
3% on 5,00,000 and above Sum Assured
|Loan||After 3 years|
|Surrender||After 3 years of full premium payment [ Surrender Value Calculator]|