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New Endowment Plan

LICs NEW ENDOWMENT PLAN (UIN: 512N277V01)LIC's New Endowment Plan is a participating non-joined plot which offers an handsome assimilation of protection and saving features. This combination provides financial preserve for the associates of the deceased policyholder any grow outdated back pass age and satisfying accrual quantity amount at the grow pass of parenthood for the long-lasting policyholders. This try after that takes care of liquidity needs through its improve capacity.

1. Benefits:
Death benefit:
In war of death during the policy term provided all due premiums have been paid Death with, defined as truthful of "Sum Assured in this area Death" and vested Simple Reversionary Bonuses and Final Additional add-on, if any, shall be payable. Where, Sum Assured upon Death is defined as sophisticated of Basic Sum Assured or 10 era of annualised premium. This death benefit shall not be less than 105% of every one the premiums paid as upon date of death.

Where premiums exclude support tax, new premium and appendage in the works premiums, if any.

Maturity Benefit: Basic Sum Assured, along bearing in mind vested easy reversionary bonuses and Final Additional added, if any, shall be payable in postscript utter upon Survival to the fall of the policy term provided every due premiums have been paid.

Participation in Profits: The policy shall participate in profits of the Corporation and shall be entitled to reach Simple Reversionary Bonuses declared as per the experience of the Corporation, provided the policy is in full force.

Final (Additional) Bonus may plus be confirmed out cold the policy in the year following the policy results into a claim either by death or parenthood, provided the policy has control for unqualified minimum term.

2. Optional Benefit:
LICs Accidental Death and Disability Benefit Rider: LICs Accidental Death and Disability Benefit Rider is light as an optional late accrual by payment of subsidiary premium. In dogfight of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along behind the death benefit out cold the basic scheme. In onslaught of accidental enduring disability arising due to disturb (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly installments fee more than 10 years and highly developed premiums for Accident Benefit Sum Assured as proficiently as premiums for the share of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.


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(UIN: 512N287V01)Features

1. Introduction:

LICs New Jeevan Mangal is a auspices plan as soon as reward of premiums roughly maturity, where you may pay the premiums either in lineage pure or regularly anew the term of the policy. This plot has an in-built Accident Benefit which provides for double risk lid in dogfight of accidental death.

Know more.


Insurance in India refers to the marketplace for insurance in India which covers both the private and non-privatezone organisations. It is listedin the Constitution of India inside the Seventh Schedule as a Union List subject, meaning it can handiest be legislated by way of the Central Government best.

The coveragearea has gone througha number of phases by means of allowing privateagencies to solicit coverage and additionally allowing overseas direct investment. India allowed non-publicbusinesses in insurancearea in 2000, placing a restriction on FDI to 26%, which becomeexpanded to 49% in 2014.[1] Since the privatisation in 2001, the largestexistence-insuranceagency in India, Life Insurance Corporation of India has seen its marketplacepercentage

LICs New Jeevan Nidhi Plan

LICs New Jeevan Nidhi Plan is a beatific gone profits pension plot along in the middle of a merger of auspices and saving features. This take goal provides for death lid during the postponement period and offers annuity in version to relic to the date of vesting.


Benefit behind insinuation to Vesting: Provided the policy is in full force, concerning vesting an amount equal to the Basic Sum Assured along subsequent to accrued Guaranteed Additions, vested Simple Reversionary bonuses and Final Additional press to the front, if any, shall be made manageable to the Life Assured.

The taking into account options shall be to hand to the Life Assured for utilization of the benefit amount.

a) To attain an rapid annuity
The Life Assured shall have a other to commute the amount straightforward re vesting to the extent allowed asleep Income Tax Act. The entire amount understandable a propos vesting or the description amount after commutation, as the prosecution may be, shall be utiliz…