LIC’s New Plan Single Premium Endowment Plan (Table No. 817)

LIC’s New Plan Single Premium Endowment Plan (Table No. 817) implemented.
INTRODUCTION: It has been decided to introduce LIC’s New Single Premium Endowment Plan (Plan No.
817) with effect from 1st January, 2014. The Unique Identification Number (UIN) for LIC’s New
Endowment Plan is 512N283V01. This number has to be quoted in all relevant documents furnished to
the Policyholders and other users (public, distribution channels).This is Single Premium conventional
Endowment Assurance Plan. The benefits are as follows.
Death Benefit:
a) On death during the policy term before the date of commencement of risk: Return of single premium
excluding service tax and extra premium, if any, without interest.
b) On death during the policy term after the date of commencement of risk: Sum Assured along with
vested Simple Reversionary Bonuses and Final Additional Bonus, if any.
Maturity Benefit: Sum Assured, along with vested Simple Reversionary Bonuses and Final Additional
Bonus, if any, shall be payable.
Participation in profits: The policy shall participate in profits of the Corporation and shall be entitled to
receive Simple Reversionary Bonuses declared as per the experience of the Corporation.
Final (Additional) Bonus may also be declared under the policy in the year when the policy results into a
claim either by death or maturity on such terms and conditions as may be declared by the Corporation
from time to time.
ELIGIBILITY CONDITIONS AND OTHER RESTRICTIONS:
1. Minimum entry age : 90 days (completed)
2. Maximum entry age : 65 years (nearest birthday)
3. Maximum maturity age: : 75 years (nearest birthday)
4. Minimum policy term : 10 years
5. Minimum age at maturity : 18 years (completed)
6. Maximum policy term : 25 years
7. Minimum Sum Assured : Rs.50,000
8. Maximum Sum assured : No limit
Sum Assured will be in multiples of Rs.5000 /- only.
Payment Mode: - Single Premium Only.
Two New EXPRESS COMBOS implemented:-
1) Akshay Deep
A unique combination of New Endowment Plan and Jeevan Akshay to provide a deferred retirement
solution. The endowment policy gives you high coverage during your prime years and the maturity is
invested in Jeevan Akshay for lifetime pension after 25 years.
2) Lifetime Upahaar
A single premium deferred annuity solution. Invest Rs. 4 lacs* just once and after 25 years get Rs.
1,57,000 every year for lifetime + Leave a legacy of Rs. 21 Lacs for your next generation
New Magic Plan RETIRE AND ENJOY 1 implemented:-
Most popular feature for Retirement planning using plan 814 as base plan with various term
combinations Ltd. Payment option is available.
For Any Clarification or More Information Regarding the Plan/ Investment, Please Call to us: +91 9885126368, and +91 9246826368, or Write to us through the ‘E-mail Us’:- licbestplang@gmail.com, www.plotsinhyd.com