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LIC's New Endowment Plan - Key Benefits and Changes Explained

LIC's New Endowment Plan (Table No. 814) introduces significant updates, particularly regarding the Sum Assured on Death, which will now be the higher of the Basic Sum Assured (BSA) or 10 times the annualized premium (10x AP). Eligibility criteria have also been modified, including reduced entry age and policy term adjustments. While the surrender value remains unchanged, factors like policy loan percentages and bonuses have been revised. Discover how these changes can enhance your insurance experience and what benefits you can expect.

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LIC's New Endowment Plan - Key Benefits and Changes Explained

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  1. LIC’s NEW ENDOWMENT PLAN Table No. 814

  2. LIC’s New Endowment Plan – Benefits No change Modified ‘Sum Assured on Death' instead of SA.

  3. LIC’s New Endowment Plan – Benefit on Death What is Sum Assured on Death? Sum Assured on Death shall be Higher of ~ Basic Sum Assured (BSA) OR 10 times Annualised Premium.(10 x AP). [*The premiums mentioned in death benefit are excluding taxes, extra premiums and premiums for riders, if any]

  4. LIC’s New Endowment Plan Eligibility Conditions and Restrictions Age at entry modified Policy term modified Minimum Sum Assured Modified

  5. LIC’s New Endowment Plan ~ Rebates Rate modified Slab & Rate modified

  6. LIC’s New Endowment Plan ~ Policy Loan % of loan modified

  7. LIC’s New Endowment Plan ~ Surrender Value No Change GSV % modified Bonus Payablemodified

  8. LIC’s New Endowment Plan No change in SSV

  9. LIC’s New Endowment Plan ~ Table No. 814

  10. LIC’s New Endowment Plan – Changes over Table No.14 • ‘Sum Assured on Death’ has been defined separately. • Age at entry has been reduced. • Percentage of Loan payable as a percentage of Surrender Value shall depend upon policy term. • GSV percentage shall also depend on policy term and year of Surrender. • Rebates for high SA and premium mode modified.

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