Endowment Plan Summary:
It is one of the oldest and popular LIC plans. Endowment policy (Table 14) provides financial assistance to the family of the life assured in the event of policyholders early death or a lump sum amount on policyholders survival up to the selected term. Hence, the Endowment plan (Table 14) provides for family income in the event of unfortunate death of the life assured or makes provision for retirement in case of living too long. An endowment Plan is best for every reason, for all long and short-term financial needs.
Endowment Policy Benefits:
- Natural Death:
Sum Assured + Bonus for a number of years premium paid + Terminal Bonus if any. - Accidental Death:
Double Sum Assured + Bonus for a number of years premium paid + Terminal Bonus if any. - Maturity:
Sum Assured + Bonus + Terminal Bonus. - Accident And Permanent Disability Benefit:
The accident benefit is a maximum Rs.50 lakh. - Tax Benefit:
Tax benefit on your premium u/s 80C and Maturity/Death Claim u/s 10 (10D) - Loan:
Loan Facility is available on this policy after 3 years, you can also use it as Housing Loan collateral.
Premium Payment:
You can pay premium Yearly, Half-yearly, Quarterly, Monthly or Single premium.
Endowment plan Eligibility Conditions and Restrictions:
- Minimum age: 12 years
- Maximum age: 65 years
- Maximum age at Maturity: 75 years
- Min. Term: 5 years
- Max Term: 55 years
- Minimum SA: Rs.50,000/-
- Max. Sum Assured: No Limit
Example:
Mr. Rajesh buys an Endowment policy under Table-14 for Rs.1 Lakh for 25 years term. He dies due to disease after 3 yrs. In this case, Mr. Rajesh’s family/nominee will receive Rs.1, 14,400(Rs.14, 400 being a Bonus for 3 yrs at an estimated Rs.48 per 1000 p.a.). If Rajesh survive till maturity he would receive Rs.2,70,000 as maturity benefit (Rs.1,20,000 being Bonus for 25 yrs at an estimated Rs.48 per 1000 p.a. + FAB @ 500/- per 1000 = 50,000/-)
Update: Endowment plan Table No. 14 Has Been Discontinued.
Note:
The above is the product summary giving the key features of the plan. This is for illustrative purposes only. This does not represent a contract and for details please refer to your policy document.
14 endowment plan premium chart
I wish to take a LIC endowment policy and wish to cover Life risk Maximum around 30 lacs. My age is 29yrs. I wish to invest Rs50,000/- to 70,000/- premium p.a.
plese sugest a best lic policy where I get Rs.40 lacs by 20 yrs and also cover risk 30 lacs.
Regards
Sachin
my age is 24.i want to take table 14 & with term 15 years with sum assured of Rs 100000?how much i will get at the time of maturity?
i have 18 years old. I want to join in lic. please give suggestion which plan or which policy is better to me
Please give me your phone no./email id to help you to join in lic.
Thanks.
Arun.
9433772819/panjwani.arun@rediffmail.com
I wish to take a LIC endowment policy. My age is 26yrs. I invest rs.50 to 60 thousand/year as premium. plese sugest a best lic policy where i get rs.40 lacs by 20 yrs. thanks.
If I invest on date Rs150000/-( single premium) in Endowment Plus , T.No:- 802 for 10 yrs term, then what will be the redemption value after 5 yrs.if I want to withdrawn
.
i have policy named Endowment Assurance policy t. n 14.
16 years
prem.=31437/= pa
what would be my sum assured and the benefit after maturity
SIR.iam chandrahasan i get one deposit in endomentpolicy november.2010 for 5years now how mouch interest this money. pls send details thankyou
my policy no:743338468-28/03/2003-25,000-14TO15YEARS
741773281-28/08/1996-10,000-14TO15YEARS
THIS POLICY LOAN DETAILS AND METURITY AMOUNT&DATE DETAILS.PLS SEND THE DETAILS MY EMAIL,THANK U
sir, i am arun kumar i get two policytable no 14 1. has a 16 year and 2. 21 year sir i pls sugesseted by my after 16 and 21 yaer micuority my and this policy amount is 1,00,000 then sir how much amount after mecuorty quick answer pls
thanks…………