JEEVAN NEW ENDOWMENT

LIC New Endowment Plan is a non-linked life insurance policy which offers guaranteed returns and bonus. LIC New Endowment policy can be availed for the duration of 12 to 35 years. LIC Endowment Plan can be taken for anyone between 8 to 55 years of age and can be continued till 75 years old. In LIC’s New Endowment plan, premium needs to be paid for the entire policy tenure. The Sum Assured along with vested Simple Reversionary Bonus + Final Addition Bonus would be given to the Life Insured on survival till the end of the Policy Tenure. New Endowment PlanMaturity Benefit is paid to the Insured after completion of the total policy payment.

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LIC New Endowment Plan Review & Features

  1. New Lic Endowment Plan participates in Profits.
  2. In LIC Endowment Plan if the person lives till the end of Term of the policy will be given Maturity Benefit, which is SUM ASSURED + BONUS +FAB (Final Additional Bonuses) etc.
  3. If he dies within the duration of the Policy Death Benefit paid to Nominee i.e. SUM ASSURED + BONUS acquired till that Year.
  4. The life assured can opt for Accident Benefit Rider and Critical Illness Rider by paying small Amount with the Premium.
  5. In New LIC Endowment Plan 814 has a High Bonus and High liquidity and saving point.
  6. LIC Endowment Plan review is a combination of Endowment Plus Term insurance.

Maturity benefits and Death benefits are provided under LIC Jeevan New Endowment Benefits

Maturity Benefit

  • If Life Assured Survive till the end of policy term, you will get Maturity Benefit as mentioned in the Policy.
  • SumAssured +  Simple Reversionary Bonus + FAB(final additional bonus) if any.

Death Benefit

If the Insured person dies within the Policy Term, then Nominee of the Policy will be given  Death Benefit (Sum Assured on Death) + Simple Reversionary Bonus + FAB(final additional bonus) if any.

Additional Information about Jeevan New Endowment

  • Risk Coverage: Till end of Term of the Policy.
  • Date of Commencement of Risk:In the case of children whose age is less than 8 years risk commencement starts either from 2 years of taking the policy or from achieving 8 years old which is earlier.
  • Locking period: 3 years.
  • Loan Facility: Available.
  • Income Tax Reduction: Available under Section 80C for premiums paid and Section 10 (10D) for Maturity returns
  • Housing Loan Surety: Under LIC New Endowment Plan House Loan Surety is
  • Riders available: Yes.
  • Policy Revival: Policy can be revived for 2 years from the date of First Unpaid Premium (FUP).
  • Suicide Clause: If insured commit suicide before 12 months he will be returned 80% of premium what he paid.
  • Proposal Forms: Proposal Form no. 300 or 340 will be used under this plan.
  • GST TAX: 1ST Year 4.5% GST, after 1st year 2.25% GST tax is applicable under this Jeevan New Endowment.
  • Back-dating interest: The policies can be dated back within the same financial year.
  • Assignments/Nominations: Assignment and nominations are possible under this plan.

 Please contact for any kinds of Life Insurance service

Mob: 8700831131,  9958018903