LIC PREMIUM ENDOWMENT PLAN

UIN : 512N277V01

 

 

Product Summary

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.

Premium Payment Mode

Yly, Hly, Qly, Mly(ECS or SSS)

Mode and High S.A. Rebates

Mode Rebate

• Yearly mode - 2% of Tabular Premium
• Half-yearly mode - 1% of Tabular premium
• Quarterly & Monthly - NIL

High Sum Assured Rebate

• Basic Sum Assured (B.S.A) Rebate (Rs.)
• 1,00,000 to 1,95,000 - Nil
• 2,00,000 to 4,95,000 - 2.00 ‰ B.S.A.
• 5,00,000 and above - 3.00 ‰ B.S.A.

Policy Term 12 years to 35 Years
Premium Paying Term 12 years to 35 Years
Minimum Entry Age 8 years (completed)
Maximum Entry Age55 years (nearest birthday)
Maximum Maturity Age 75 years (nearest birthday)
Minimum Basic Sum Assured 1,00,000
Maximum Basic Sum AssuredNo upper limit
Optional Rider LIC’s Accidental Death and Disability Benefit Rider, LIC's New Term Assurance Rider

Policy Benefits

On Death:

sum of "Sum Assured on Death " and vested Simple Reversionary Bonuses and Final Additional bonus, if any. "Sum Assured on Death" is defined as the higher of 10 times of annualised premium or Absolute amount assured to be paid on death i.e. Basic Sum Assured.

On Maturity:

“Sum Assured on Maturity” equal to Basic Sum Assured, along with vested Simple Reversionary bonuses and Final Additional bonus, if any.

Surrender Value

The policy can be surrendered during the policy term, provided at least three full years’ premiums have been paid

Policy Loan

Loan can be availed under the policy after payment of premiums for atleast 3 full years.

Taxes

The amount of Service Tax payable as per the prevailing rates shall be payable by the policyholder on premiums payable under the policy, which shall be collected separately over and above in addition to the premiums payable by the policyholder