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.
my policy no 803960223
my sr name is ponugupati
you print ponuganti
please check my sr name
This is my que. is lic table no.14
age-50
s.a- 1 lac
term 20 yera
maturtity……………
other benafit
pl.explane to me
thanks
dinesh
Hi,
Can I take the endowment policy of LIC online without going to any LIC agent?
Online policy is not yet available with LIC.
I want a policy under table 14. i would like to pay 12000 per year for 30 years and i heard i would be getting 140000 lac . I just want to know whether the amount is fixed for can it reduce.which are the other plan i can apply so that i get a high return for the same amount
my D.O.B – 02..01.1972, I WANT A POLICY UNDER TABLE -14 , AFTER 20 YEARS I WANT 20 LACKS , PLEASE ENSURE MY PREMUM VALUE- PER ANNAM
provide your contact no. we will get back to you.
hello sir,
this is priya prakash s/o sri pramod kumar pandey
at this time i am at jalandhar punjab. sir i sent original copy of my father’s policy bond at your purnea branch at jail chowk.
but no any rply. from your branch.
my father’s policy no. is 530044783
please rply. me for this questions?
thanking you,
Sir,
I have 5 lakhs rupees to deposit in the LIC endowment scheme. How much I earn after 5 year. Kindly sent me a detailed brousher in this matter.
I want to surrender my below endowment policy.
Plan: Endowment Plan – 14
Policy# 196828494
Commencement Date: 28 July 2007
Sum Assured: 6 Lakhs
Maturity Date: 28 July 2024
Term 14- 17
Mode of Premium: Annually
I have paid 3 premiums but 4th premium not been paid until, now 4 years gone my total amt of paid premium is (Rs. 1,07,238)
Kindly let me know the how much value I will get If I want to surrender this policy within couple of days.
Awaiting for your mail.
Thanks & Regards,
Mahavir Singh
monthly deducting in my salary Rs.217 term 21 yrs after maturity how much i get.
In every policy of lic either endowment or any policy it is mentioned that if the person who takes a lic policy dies after 3 years the family will get >>>>>>>. Can you please tell what will the family get from lic if the proposer dies within 3 years term . Because the proposer pay the premium for one or two years.