Product Summary : LIC New Endowment Plan (814) 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
10 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 atleast 3 full years premiums have been paid.
Loan : Loan Facillity is available under this plan, after payment of premiums for at least 3 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.
To,
Mr/Mrs : Customer
Plan : New Endowment Plan - 814
Age : 25
Term : 21
D.A.B. : 5,00,000
Sum Assured :5,00,000
1st year Premium With TAX 3.75% :
Yearly : 23,720 (22863 + 857)
Halfly : 11,987 (11554 + 433)
Quarterly : 6,057 (5838 + 219)
Monthly(ECS) : 2,019 (1946 + 73)
YLY Mode Average Prem/Day : 64
After 1st year Premium With TAX 1.875% :
Yearly : 23,292 (22863 + 429)
Halfly : 11,771 (11554 + 217)
Quarterly : 5,947 (5838 + 109)
Monthly(ECS) : 1,982 (1946 + 36)
YLY Mode Average Prem/Day : 63
Total Approximate Paid Premium : 4,89,560
Approximate Return at Maturity Time :
S.A. : 5,00,000
Bonus : 5,04,000
F.A.B. : 50,000
Total Approximate Return at Maturity Time : 10,54,000
Insurance Advicer
Rahul Chauhan : 9718971118/ Whatsapp: 9555024622
Licagentrahul12@gmail.com
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