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914- New endowment plan
Life Insurance Products
Get the latest information on all LIC's plans and all private insurance companies.
Founded in 1956,Life Insurance Corporation of India (LIC) is the Largest life insurance company in the country with a total income of Rs. 492626.60 core and total assests worth Rs. 2572028.34Cr It’s fully owned by the Goverment of the Goverment of India & is also the country largest investor.
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Plan Information
- Age Entry : 8-55 yrs
- Max Maturity Age : 75 yrs
- Policy Term : 12-35 yrs
- Sum Assured : 1,00,000-No limit
- Sum Assured multiples : 5000
- Mode of payment : All
- ServiceTax: 1st year : 4.5%
- Subsequent year : 2.25%
- Loan : After 2 yrs
- Surrender : After 2 yrs
- Risk Cover : SA+Bonus+FAB SumAssured on death is higher of Basic SA or 7 times of annualized premium Death benefit shall not be less than 105% of all the premiums paid
- On Maturity : SA+Bonus+FAB
Plan illustration for SA 2 Lakh for term 35 years and payable Term 35 years.
First Year Premium
| Premium | GST(4.5%) | Payable Prem | |
|---|---|---|---|
| YLY | 5278 | 251 | 5529 |
| HLY | 2667 | 127 | 2794 |
| QLY | 1348 | 64 | 1412 |
| MLY | 449 | 21 | 470 |
2nd year onwards
| Premium | GST(2.25%) | Payable Prem | |
|---|---|---|---|
| QLY | 1348 | 32 | 1380 |
| MLY | 449 | 11 | 460 |
| QLY | 1348 | 32 | 1380 |
| MLY | 449 | 11 | 460 |
- SA: 200000
- BONUS: 336000
- FAB: 46000
- MATURIRTY: 996000
- TOTAL PREMIUM: 189231
Disclaimer :
The Benefits shown in this presentation are as per the 8% Benefit illustration of LIC of India, Actual values may vary, depends on the corporation profits and expenses.