NEW ENDOWMENT

Plan No. 814

Presented by:-

Sumeet PawarInsurance Advisor

Call (+91) 7738546484License No: 10149681

Agency Code: 02187929

Features

LIC's New Endowment Plan is a participatingnon-linked plan which offers an attractivecombination of protection and saving features.This combination provides financial support forthe family of the deceased policyholder anytime before maturity and good lump sumamount at the time of maturity for the survivingpolicyholders. This plan also takes care ofliquidity needs through its loan facility.

Benefits

Death Benefit:

In case of death during the policy term provided alldue premiums have been paid Death benefit, definedas sum of "Sum Assured on Death" and vestedSimple Reversionary Bonuses and Final Additionalbonus, if any, shall be payable. Where, “Sum Assuredon Death” is defined as higher of Basic Sum Assuredor 10 times of annualised premium. This deathbenefit shall not be less than 105% of all thepremiums paid as on date of death.

Where premiums exclude service tax, extrapremium and rider premiums, if any.

Benefits

Maturity Benefit:

Basic Sum Assured, along with vested simplereversionary bonuses and Final Additionalbonus, if any, shall be payable in lump sum onSurvival to the end of the policy term providedall due premiums have been paid.

Benefit Illustration

Basic Details-Sum Assured: Rs 1,00,000Age at Entry: 30 yrsTerm: 35 yrsYearly Premium (1st Yr): Rs 3,073 (Rs 2,981 + Rs 92)Yearly Premium (2nd Yr…): Rs 3,027 (Rs 2,981 + Rs 46)

Approximate Maturity Returns-Interim Bonus: Rs 1,68,000Final Bonus: Rs 1,85,000Maturity (SA + IB + FB): Rs 4,53,000

Eligibility Conditions & Other Restrictions

Minimum entry age : 8 years(completed)Maximum entry age : 55 years (nearest birthday)Maximum maturity age: : 75 years (nearest birthday)Minimum policy term : 12 yearsMaximum policy term : 35 years Minimum Sum Assured : Rs.1,00,000 Maximum Sum assured : No limit

(Sum Assured will be in multiples of Rs.5,000 /- only)

Premium payment mode : Yearly / Half Yearly / Quarterly / Monthly / SSS

High Sum Assured Rebate

Sum Assured (S.A) Rebate (Rs.)1,00,000 to 1,95,000 Nil2,00,000 to 4,95,000 Rs 2 per 1000 on S.A.5,00,000 and above Rs 3 per 1000 on S.A.

Loan Facility

Loan can be availed under the policy providedthe policy has acquired a surrender value andsubject to the terms and conditions as thecompany may specify from time to time.

Surrender Value

The policy can surrendered for cash providedatleast three full years’ premiums have beenpaid. The Guaranteed Surrender value shall bepercentage of total premiums paid (net ofservice tax) excluding extra premiums andpremiums for riders, if opted for. Thispercentage will depend on the policy term andpolicy year in which the policy is surrendered.

Paid-up Value

If at least three full years’ premiums have been paid and any subsequentpremiums be not duly paid, this policy shall not be wholly void, but shallcontinue as a paid-up policy. The Basic Sum Assured under the policy shall bereduced to such a sum, called Paid-up Sum Assured and shall bear the sameratio to the Basic Sum Assured as the premiums paid bears to the totalnumber of premiums i.e. Basic Sum Assured *(no. of premiums paid / no. ofpremiums payable).

This Paid-Up Sum Assured along with vested simple reversionary bonuses, ifany, is payable on the expiry of policy term or in case of prior death. Thereversionary bonuses already accrued to the policy as on the date of paid-upwill remain attached to the policy. A paid-up policy will not accrue any furtherbonuses.

Rider(s) do not acquire any paid-up value and the rider benefits cease toapply, if policy is in lapsed condition.

Revival

If premiums are not paid within the grace period thenthe policy will lapse. A lapsed policy can be revivewithin a period of 2 consecutive years from the date offirst unpaid premium and before the date of maturity,as the case may be by paying all the arrears of premiumtogether with interest (compounding half-yearly) atsuch rate as fixed by the Corporation at the time of thepayment, subject to submission of satisfactoryevidence of continued insurability.Revival of rider(s), if opted for, will be considered alongwith revival of the Basic Policy, and not in isolation.

Cooling-off Period

If the Policyholder is not satisfied with the “Terms andConditions” of the policy may be returned to us within15 days from the date of receipt of the policy bondstating the reasons of objections. On receipt of thesame the Corporation shall cancel the policy and returnthe amount of premium deposited after deducting theproportionate risk premium (for basic plan and rider(s),if any) for the period on cover, expenses incurred onmedical examination, special reports if any and stampduty.