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LIC New Endowment Plan
Combination of Protection and Savings plan.
A regular premium non linked with profits endowment plan
LIC New Endowment Plan is a non-linked life insurance policy which offers guaranteed returns and bonus. The policy can be availed for duration of 12 to 35 years. Policy can be taken for anyone between 8 to 55 years of age and can be continued till 75 years of age.
| Eligibility Conditions & Restrictions | ||
|---|---|---|
| Minimum age | : | 8 years (Completed) |
| Maximum age | : | 50 years |
| Maximum maturity age | : | 75 years |
| Policy Term | : | 12 years to 35 years |
| Minimum Sum Assured | : | Rs.2,00,000 |
| Maximum Sum Assured | : | No limit |
| Premium payment | : | Yearly / Half yearly / Quarterly |
| Loan | : | Eligible after 2 years |
| Surrender | : | Eligible after 2 years |
| On Death | : | Sum Assured + Vested Bonus + FAB is payable |
| On Maturity | : | Sum Assured + Vested Bonus + FAB is payable |
| Income Tax Benefits | : | (i) Premiums paid are eligible for Tax rebate u/s 80c (ii) Maturity amount / Death claim is Non-taxable u/s 10(10d) |
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