LIC New Endowment Plan (814) Details

1,000.00

New Endowment (Table No: 814) of LIC, is a basic Life Insurance plan which provides adequate life cover during policy’s term and on maturity, this plan provides a healthy amount which can be used to fulfill financial requirements like children’s higher education and marriage. This plan may be recommended for everyone because of following reasons.

  • A sound combination of Life insurance and investment.
  • Low premium in comparison other plan in this category.
  • Eligible for bonus and Final Addition bonus declared by LIC.
  • Comparatively Higher Bonus
  • Double Accidental benefit with rider.
  • Tax saving on premium paid.
  • Tax Free maturity amount.
Category:

Maturity Details

If policy holder survives the policy term ( i.e. 21 years ), Maturity will be as under.

Maturity Year Maturity Age Maturity Amount(approx)
2036 47 1091500

Year-wise Death Claims

If death happens during the policy term ( Before 21 years ), Sum Assured + Bonus + Final Addition Bonus(FAB) will paid to nominee and it is indicated as Normal Life Cover. In case of accidental death, additional amount equal to sum assured is also payable to nominee, the calculation is indicated as Accidental Life Cover.Calculation of year-wise and age-wise death benefit according to accumulated bonus and FAB is illustrated below.

Year Age Normal Life Cover(approx) Accidental Life Cover(approx)
2015 26 524000 1024000
2016 27 548000 1048000
2017 28 572000 1072000
2018 29 596000 1096000
2019 30 620000 1120000
2020 31 644000 1144000
2021 32 668000 1168000
2022 33 692000 1192000
2023 34 716000 1216000
2024 35 740000 1240000
2025 36 764000 1264000
2026 37 788000 1288000
2027 38 812000 1312000
2028 39 836000 1336000
2029 40 875000 1375000
2030 41 901500 1401500
2031 42 930500 1430500
2032 43 959500 1459500
2033 44 1001000 1501000
2034 45 1042500 1542500
2035 46 1091500 1591500
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