𝟳𝟭𝟰 𝗡𝗲𝘄 𝗘𝗻𝗱𝗼𝘄𝗺𝗲𝗻𝘁

  New Endowment (714)

Product Summary :

New Endowment Plan (714) is a regular premium, non-linked, with profits Endowment Plan.

Premium Payment Mode:

Yearly, Halfly, 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.

More Details....

For more information visit 

https://bimabazaarindia.blogspot.com

Example 

To,

Mr/Mrs/Ms : SURESH

Plan : New Endowment Plan - 714

Age :10

Term :12

Sum Assured :200000

1st year Premium With TAX 4.5% :

Yearly : 17913 (17142 + 771)

Halfly : 9051 (8661 + 390)

Quarterly : 4572 (4375 + 197)

Monthly(ECS) : 1524 (1458 + 66)

YLY Mode Average Prem/Day : 49

After 1st year Premium With TAX 2.25% :

Yearly : 17528 (17142 + 386)

Halfly : 8856 (8661 + 195)

Quarterly : 4473 (4375 + 98)

Monthly(ECS) : 1491 (1458 + 33)

YLY Mode Average Prem/Day : 48

Approximate Return at Maturity Time : 

S.A. : 200000

Bonus : 84000

F.A.B. : 0

Total Approximate Return at Maturity Time : 284000

MORE DETAILS…

                         

                           PAYMENT

• Pay New/Renewal Premium by Credit Card (No extra charges)

https://ebiz.licindia.in/D2CPM/#DirectPay

• Pay New/Renewal Premium by Paytm

https://paytm.com/insurance-premium-payment/lic-of-india

• Pay New/Renewal Premium by Google Pay

https://pay.google.com/intl/en_in/about/

• Pay New/Renewal Premium by PhonePe

https://www.phonepe.com/

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                  LIC OF INDIA