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Create Wealth

New 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.

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In this 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 paid to the Life Insured on survival till the end of the Policy Tenure as Maturity Benefit.

Key Features of LIC New Endowment Plan

  • Plan with guaranteed returns and bonus

  • Simple Reversionary Bonus is payable on maturity or earlier death

  • Large Sum Assured Rebate is available

  • LIC’s Accidental Death and Disability Benefit Rider can be taken

New Jeevan Anand
LIC New Jeevan Anand Policy Benefits

  •  Maturity Benefit

On maturity the Basic Sum Assured + accrued bonuses + any Final Bonus is paid to the policyholder.

  • Death Benefit –The death benefit depends on the period when death occurs.

If death occurs during the plan tenure, the Sum Assured on Death + vested bonuses + any Final Bonus is paid to the nominee.
If death occurs after the plan tern, the Basic Sum Assured is paid in addition to the Maturity Benefit already paid.

125% of the Basic Sum Assured
10 times the annual premium

  •  The Sum Assured on Death is higher of the following:

  •  Subject to a minimum of 105% of the total premiums paid till death.

Bonus – Depending on the performance of the company, simple reversionary bonuses are declared under the plan. A Final Bonus might also be paid with the maturity or death benefit.

Single Premium Endowment Plan

As the name suggests, this is Single Premium Plan - you just make a single premium payment at the beginning of the policy term. It is a participating endowment plan, which means that bonus will be paid through the term of the policy. The bonus is a accumulated and at the end of the policy term, the sum assured + the accrued bonus is paid to the policyholder.

Benefits in the LIC Single Premium Endowment Plan

Death Benefit in LIC Single Premium Endowment Plan

In case of death of the policyholder at anytime during the policy term, the nominee will receive the sum of the following:

  • Sum Assured

  • Simple Reversionary Bonus which has been declared will date

  • Final Addition Bonus if declared in that year

In case the policyholder is less than 8 years of age, the death coverage will start either 2 years from the date of commencement or from the policy anniversary coinciding with or immediately following the attainment of 8 years of age, whichever is earlier. For those aged 8 years or more at the time of taking the policy, death cover will start immediately. In case of death of the policyholder before the death coverage has started, the single premium minus the taxes would be paid to the nominee.

At the time of maturity of the plan, that is when the policy term gets over, the policyholder will receive the sum of the following:

Maturity Benefit in LIC Single Premium Endowment Plan

  • Sum Assured

  • Simple Reversionary Bonus which has been declared at the end of every year

  • Final Addition Bonus if declared in that year

Jeevan Lakshya

LIC Jeevan Lakshya Policy is a participating endowment plan which provides both investment and insurance benefits. Since it is a participating plan, bonus benefits will be available. In case of death of the policyholder a regular income is provided to the nominee in addition to a lumpsum at the date of Maturity

Benefits in the LIC Jeevan Lakshya Plan

Death Benefit in LIC Jeevan Lakshya Plan

In case of the death of the policyholder before the end of the policy term, the nominee will receive all of the following:

  •  10% of the Basic Sum Assured as an Annual Income Benefit from the next policy anniversary date to the policy anniversary date one year before the Maturity Date. We will explain this better in the example.

  • 110% of the Basic Sum Assured payable on the Maturity Date

  • Simple Reversionary Bonus which has accrued throughout the policy term payable on the Maturity Date

  • Final Addition Bonus if declared payable on the Maturity Date

The Death Benefit shall not be less than 105% of all premiums paid as on date of death of the policyholder.

At the end of the policy term, the policyholder will receive the following:

Maturity Benefit in LIC Jeevan Lakshya Plan

  • Basic Sum Assured

  • Simple Reversionary Bonus

  • Final Addition Bonus if declared

Jeevan Labh
Get Rs 17 lakh by investing Rs 233 every month

  • LIC's Jeevan Labh Plan feature policy gives both profit and protection.

  • People between the age group of 8 to 59 years can easily take this policy.

  • The policy term can be taken from 16 to 25 years.

  • A minimum sum assured of Rs 2 lakh has to be taken.

  • There is no limit on the maximum amount.

  • Loan facility is also available on payment of premium for 3 years.

  • Tax exemption on premium and on the death of the policy holder, the nominee gets the benefits of Sum Assured and

  • Bonus. Policy holder will get death benefit

Bima Shree

LIC Bima Shree Plan is a money back insurance policy. You have policy terms of 14, 16, 18 & 20 years and the premium payment term is 4 years less than the policy term. You get Guaranteed Additions and Loyalty Additions in this policy. This is a traditional life insurance policy and is designed for high net worth individuals. You start getting payouts 4 years before the end of the policy term.

Key Features of LIC Bima Shree Policy

  • Money Back Plan for a tenure of 14, 16, 18 & 20 years

  • Premiums need to be paid for (Policy term - 4 years) only

  • Designed for high net worth individuals
     

  • Choice of 5 riders by paying additional premiums

Accidental Death and Disability Benefit Rider
Accident Benefit Rider
New Term Assurance Rider
New Critical Illness Benefit Rider
Premium Waiver Benefit Rider

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