LIC New Endowment Plan is a conventional plan which provides risk cover to the policyholder till the selected term and maturity at the end of the term. This plan is most suitable for those who are planning to get pension for a desired time after their retirement.
LIC New Endowment Plan – USP’s
Let’s check some unique selling points of New Endowment Plan
Cover wide age group of 8 years to 55 years.
Short and long policy term of 12 years to 35 years is allowed in this plan.
Helps to create a huge corpus in a long term due to high Final Addition Bonus Rates.
Best suitable plan for those who are planning to build a fund for their retirement purpose in a longer term.
Term rider and accidental rider options are also available.
Double tax benefit of section 80C & 10(10D).
Maturity Benefit:
- Basic Sum Assured + Vested Bonus + FAB.
Death Benefit:
- In case of death during policy term of the plan, Sum Assured Along With Bonus and Final Addition Bonus Will Be Paid to the Nominee.
Eligibility Criteria:
| Minimum Age to Apply | 8 Years (Completed) |
| Maximum Age to Apply | 55 Years (Nearest Birthday) |
| Policy Term | 12 to 35 Years |
| Maximum Maturity Age | 75 Years |
| Premium Paying Mode | Yearly, Half Yearly, Quarterly, Monthly (SSS & NACH) |
| Basic Sum Assured | ₹ 100000 and above ( in multiples of ₹ 5000) |
| Loan | After 3 years |
