LIC’s NEW Endowment Plan
LIC’s New Endowment Plan is a participating non-linked plan which offers an attractive combination of protection and saving features. This combination provides financial support for the family of the deceased policyholder any time before maturity and good lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility. The various endowment plans provided by LIC are:
1)JEEVAN LABH (PLAN 836)
2)JEEVAN ANAND (PLAN 815)
3)JEEVAN LAKSHYA (PLAN 833)
JEEVAN LABH PLAN
Features & Conditions:
Minimum age at entry: 8 years
Maximum Maturity Age: 75 years
Minimum S.A.: Rs. 2,00,000/- & in multiples of Rs. 10,000 thereafter.
Maximum S.A.: No limit
Death Benefit
Sum Assured on Death + Vested Bonus + FAB if any.
Sum Assured on Death= Higher of 10 times of annualized Premium or Basic SA.
Death Benefit shall not be less than 105% of total premiums paid as on date of death.
The premiums exclude taxes, extra premium and rider premiums.
Maturity Benefit:
Basic Sum Assured + Vested Bonus + FAB if any.
JEEVAN ANAND PLAN
Features & Conditions:
Minimum age at entry: 18 years
Maximum age at entry: 50 years
Max. age at maturity: 75 years
Minimum term: 15 years
Maximum term: 35 years
Maximum S.A.: No limit
Death Benefit
Sum Assured on Death + Vested Bonus + FAB if any.
Sum Assured on Death= Higher of 125% of Basic SA or 10 times of Annualized Premium.
Death Benefit shall not be less than 105% of total premium paid as on date of death.
Maturity Benefit:
Basic Sum Assured + Vested Bonus + FAB if any.
JEEVAN LAKSHYA PLAN
Features & Conditions:
Minimum age at entry: 18 years
Maximum age at entry: 50 years
Maximum maturity age: 65 years
Policy Term: 13 to 25 years.
Premium Paying Term: 3 Yrs Minimum.
Maximum S.A. : No limit