New Endowment Plan(914)

Plan No. 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 1 year of the policy. How Does This Policy Work Sample illustration  Eligibility CriteriaÂMin.Max.Age8 Years (Completed)55 Years (Nearest Birthday)Policy Term12 Years35 YearsPremium Payment TermSame as Policy TermBasic Sum AssuredRs. 1 LacNo LimitMaximum Maturity Age75 Years (Near Birthday)