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LIC’s NEW PLAN 2014 – New Endowment Plan – 814 Circular

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LIC’s New Endowment Plan is a participating non-linked plan which offers an attractive combination of protection and saving features. This combination provides financial support for the family of the deceased policyholder any time before maturity and good lump sum amount at the time of maturity for the surviving policyholders. This plan also takes care of liquidity needs through its loan facility.

Benefits:

Death benefit:
In case of death during the policy term provided all due premiums have been paid Death benefit, defined as sum of “Sum Assured on Death” and vested Simple Reversionary Bonuses and Final Additional bonus, if any, shall be payable. Where, “Sum Assured on Death” is defined as higher of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on date of death.

Where premiums exclude service tax, extra premium and rider premiums, if any.

Maturity Benefit: Basic Sum Assured, along with vested simple reversionary bonuses and Final Additional bonus, if any, shall be payable in lump sum on Survival to the end of the policy term provided all due premiums have been paid.

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, provided the policy is in full force.

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, provided the policy has run for certain minimum term.

Optional Benefit:

LIC’s Accidental Death and Disability Benefit Rider:  LICs Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium. In case of accidental death, the Accident Benefit Sum Assured will be payable as lumpsum along with the death benefit under the basic plan.  In case of accidental permanent disability arising due to accident (within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid in equal monthly installments spread over 10 years and future premiums for Accident Benefit Sum Assured as well as premiums for the portion of Basic Sum Assured which is equal to Accident Benefit Sum Assured under the policy, shall be waived.

Download New Endowment Plan-814 pdf (Circular)

Annexures to 814 final 2_3_4 pdf

New Endowment Plan-814 (PPT)

Table no. 814 reckoner

LIC NEW Plans in JANUARY 2014

LIC New Plans in FEBRUARY 2014

Plan Analysis Ad In magazine

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6 comments on “LIC’s NEW PLAN 2014 – New Endowment Plan – 814 Circular

  1. Madhu Jaiswal
    January 15, 2014

    Is there any seminar scheduled in Kolkata in 2014?

    • harshadavispute
      January 25, 2014

      Yes Madhu. Please confirm with Kolkata branch about the course/seminar schedules. Give a call on 033- 64553287/65486731. Thank you

  2. Madhu Jaiswal
    February 5, 2014

    Thanks.i want to attend any one your seminar to enhance my knowledge and skill.

    • harshadavispute
      February 7, 2014

      You are most welcome, Madhu. If you wish to attend our seminar, we are having ‘Combo Plan’ Course on 9th Feb 2014 in Mumbai. You will get all the information about the latest plans and their combinations too. It will be led by Mr. Amol Sharma, “Master of Plan Combinations’. He will also spill the secret of becoming MDRT in shortest time. To get the details please contact 022-61416703/04

  3. Madhu Jaiswal
    February 7, 2014

    thanks.but time is very short.plz inform any one seminar in mumbai after march.i wll surely attend.

  4. SALEEM S A
    May 31, 2014

    Is there any Training Institute in Hyderabad & any seminars conducting in hyderabad

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