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New Endowment 
Plan No. 814 
PRESENTED BY: - 
SUMEET PAWAR 
( INSURANCE ADVISOR) 
CONTAC TS: - 
(+91) 7738546484 
(+91) 9773757120
Features 
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.
Benefit 
 Death Benefit: (deal with sudden financial crisis) 
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.
Benefit 
 Maturity Benefit: (Term-End 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.
Accidental Death & Disability Rider 
Benefit 
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.
Benefit Illustration 
Details Value 
Age 30 years 
Term 35 years 
Premium Paying Term Regular Mode - Monthly 
Sum Assured Rs 1,00,000 
Premium Paid (incl. ST) for 1st yr per month Rs 261 (Rs 253 + Rs 8) 
Premium Paid (incl. ST) from 2nd yr per month Rs 257 (Rs 253 + Rs 4) 
Simple Vested Reversionary Bonus Rs 1,68,000 
Final Bonus Rs 1,85,000 
TOTAL Maturity Amount Rs 4,53,000 
Notes : 
This illustration is applicable to a non-smoker male/female standard (from medical, life style and 
occupation point of view) life. 
In preparing this benefit illustration it is assumed that the Projected CAGR ie Compounded Annual Growth 
Returns will be 6% p.a. to 10% p.a., as the case may be. The Projected CAGR is not guaranteed.
Benefit Illustration 
 Simple Vested Reversionary Bonus Calculation:- 
Bonus Rate Per 1,000 Sum Assured: Rs 48 
Total No. of Years Bonus Paid: 35 years 
Annual Bonus: Rs 48*(1,00,000/1,000) 
: Rs 48*100 = Rs 4,800 
TOTAL Bonus: Rs 4,800*35 years 
: Rs 1,68,000/-
Benefit Illustration 
 Final Bonus Calculation for Maturity:- 
Bonus Rate Per 1,000 Sum Assured: Rs 1,850 
Total No. of Years Bonus Paid: One Time 
TOTAL Bonus: Rs 1,850*(1,00,000/1,000) 
: Rs 1,850*100 
: Rs 1,85,000/-
Eligibility Conditions & Other Restrictions 
Details Value 
Minimum Entry Age 8 years (completed) 
Maximum Entry Age 55 years (nearest birthday) 
Maximum Maturity Age 75 years (nearest birthday) 
Minimum Policy Term 12 years 
Maximum Policy Term 35 years 
Minimum Sum Assured Rs 1,00,000 
Maximum Sum Assured No Limit 
Sum Assured will be in multiple of Rs 5,000 
Premium Payment Mode Regular
Payment of Premiums 
 Premiums can be paid regularly at yearly, half-yearly, 
quarterly or monthly mode (through ECS 
only) or through salary deductions over the term of 
policy. 
 However, a grace period of one month but not less 
than 30 days will be allowed for payment of yearly or 
half-yearly or quarterly premiums and 15 days for 
monthly premiums.
Sample Premium Rates 
Following are some of the sample tabular premium rates (exclusive of service tax) 
per Rs. 1000/- Basic Sum Assured 
Age Terms 
15 years 25 years 35 years 
20 71.20 40.10 28.10 
30 71.50 40.75 29.40 
40 72.85 43.25 33.15 
50 77.10 49.40 -
Rebate for High Sum Assured & Payment 
Mode 
Sum Assured (in Rs) Rebate (in Rs) 
1, 00,000 to 1, 95,000 Nil 
2, 00,000 to 4, 95,000 2.00%o B.S.A. 
5, 00,000 and above 3.00%o B.S.A. 
Premium Payment Mode Rebate (in Rs) 
Yearly 2% of Tabular Premium 
Half-Yearly 1% of Tabular premium 
Quarterly & Monthly Nil
Revival 
 If premiums are not paid within the grace period then the 
policy will lapse. A lapsed policy can be revive within a period 
of 2 consecutive years from the date of first unpaid premium 
and before the date of maturity, as the case may be by paying 
all the arrears of premium together with interest 
(compounding half-yearly) at such rate as fixed by the 
Corporation at the time of the payment, subject to submission 
of satisfactory evidence of continued insurability. 
 Revival of rider(s), if opted for, will be considered along with 
revival of the Basic Policy, and not in isolation.
Paid-up Value 
 If at least three full years’ premiums have been paid and any 
subsequent premiums be not duly paid, this policy shall not be 
wholly void, but shall continue as a paid-up policy. The Basic Sum 
Assured under the policy shall be reduced to such a sum, called 
Paid-up Sum Assured and shall bear the same ratio to the Basic 
Sum Assured as the premiums paid bears to the total number of 
premiums i.e. Basic Sum Assured *(no. of premiums paid / no. of 
premiums payable). 
 This Paid-Up Sum Assured along with vested simple reversionary 
bonuses, if any, is payable on the expiry of policy term or in case of 
prior death. The reversionary bonuses already accrued to the policy 
as on the date of paid-up will remain attached to the policy. A paid-up 
policy will not accrue any further bonuses. 
 Rider(s) do not acquire any paid-up value and the rider benefits 
cease to apply, if policy is in lapsed condition.
Surrender Value 
The policy can surrendered for cash provided atleast three 
full years’ premiums have been paid. The Guaranteed 
Surrender value shall be percentage of total premiums 
paid (net of service tax) excluding extra premiums and 
premiums for riders, if opted for. This percentage will 
depend on the policy term and policy year in which the 
policy is surrendered. 
In addition, the surrender value of any vested simple 
reversionary bonuses, if any, shall also be payable, which 
is equal to vested bonuses multiplied by the surrender 
value factor applicable to vested bonuses. These factors 
will depend on the policy term and policy year in which 
the policy is surrendered.
Loan 
Loan can be availed under the policy provided the 
policy has acquired a surrender value and subject to 
the terms and conditions as the company may 
specify from time to time.
Cooling-off Period 
If the Policyholder is not satisfied with the “Terms and 
Conditions” of the policy may be returned to us 
within 15 days from the date of receipt of the policy 
bond stating the reasons of objections. On receipt of 
the same the Corporation shall cancel the policy and 
return the amount of premium deposited after 
deducting the proportionate risk premium (for basic 
plan and rider(s), if any) for the period on cover, 
expenses incurred on medical examination, special 
reports if any and stamp duty.
Claims Settlement Report of all Life 
Insurance Companies in India (IRDA Annual Report 2012-13)
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New Endowment Plan Features

  • 1. New Endowment Plan No. 814 PRESENTED BY: - SUMEET PAWAR ( INSURANCE ADVISOR) CONTAC TS: - (+91) 7738546484 (+91) 9773757120
  • 2. Features 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.
  • 3. Benefit  Death Benefit: (deal with sudden financial crisis) 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.
  • 4. Benefit  Maturity Benefit: (Term-End 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.
  • 5. Accidental Death & Disability Rider Benefit 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.
  • 6. Benefit Illustration Details Value Age 30 years Term 35 years Premium Paying Term Regular Mode - Monthly Sum Assured Rs 1,00,000 Premium Paid (incl. ST) for 1st yr per month Rs 261 (Rs 253 + Rs 8) Premium Paid (incl. ST) from 2nd yr per month Rs 257 (Rs 253 + Rs 4) Simple Vested Reversionary Bonus Rs 1,68,000 Final Bonus Rs 1,85,000 TOTAL Maturity Amount Rs 4,53,000 Notes : This illustration is applicable to a non-smoker male/female standard (from medical, life style and occupation point of view) life. In preparing this benefit illustration it is assumed that the Projected CAGR ie Compounded Annual Growth Returns will be 6% p.a. to 10% p.a., as the case may be. The Projected CAGR is not guaranteed.
  • 7. Benefit Illustration  Simple Vested Reversionary Bonus Calculation:- Bonus Rate Per 1,000 Sum Assured: Rs 48 Total No. of Years Bonus Paid: 35 years Annual Bonus: Rs 48*(1,00,000/1,000) : Rs 48*100 = Rs 4,800 TOTAL Bonus: Rs 4,800*35 years : Rs 1,68,000/-
  • 8. Benefit Illustration  Final Bonus Calculation for Maturity:- Bonus Rate Per 1,000 Sum Assured: Rs 1,850 Total No. of Years Bonus Paid: One Time TOTAL Bonus: Rs 1,850*(1,00,000/1,000) : Rs 1,850*100 : Rs 1,85,000/-
  • 9. Eligibility Conditions & Other Restrictions Details Value Minimum Entry Age 8 years (completed) Maximum Entry Age 55 years (nearest birthday) Maximum Maturity Age 75 years (nearest birthday) Minimum Policy Term 12 years Maximum Policy Term 35 years Minimum Sum Assured Rs 1,00,000 Maximum Sum Assured No Limit Sum Assured will be in multiple of Rs 5,000 Premium Payment Mode Regular
  • 10. Payment of Premiums  Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly mode (through ECS only) or through salary deductions over the term of policy.  However, a grace period of one month but not less than 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly premiums.
  • 11. Sample Premium Rates Following are some of the sample tabular premium rates (exclusive of service tax) per Rs. 1000/- Basic Sum Assured Age Terms 15 years 25 years 35 years 20 71.20 40.10 28.10 30 71.50 40.75 29.40 40 72.85 43.25 33.15 50 77.10 49.40 -
  • 12. Rebate for High Sum Assured & Payment Mode Sum Assured (in Rs) Rebate (in Rs) 1, 00,000 to 1, 95,000 Nil 2, 00,000 to 4, 95,000 2.00%o B.S.A. 5, 00,000 and above 3.00%o B.S.A. Premium Payment Mode Rebate (in Rs) Yearly 2% of Tabular Premium Half-Yearly 1% of Tabular premium Quarterly & Monthly Nil
  • 13. Revival  If premiums are not paid within the grace period then the policy will lapse. A lapsed policy can be revive within a period of 2 consecutive years from the date of first unpaid premium and before the date of maturity, as the case may be by paying all the arrears of premium together with interest (compounding half-yearly) at such rate as fixed by the Corporation at the time of the payment, subject to submission of satisfactory evidence of continued insurability.  Revival of rider(s), if opted for, will be considered along with revival of the Basic Policy, and not in isolation.
  • 14. Paid-up Value  If at least three full years’ premiums have been paid and any subsequent premiums be not duly paid, this policy shall not be wholly void, but shall continue as a paid-up policy. The Basic Sum Assured under the policy shall be reduced to such a sum, called Paid-up Sum Assured and shall bear the same ratio to the Basic Sum Assured as the premiums paid bears to the total number of premiums i.e. Basic Sum Assured *(no. of premiums paid / no. of premiums payable).  This Paid-Up Sum Assured along with vested simple reversionary bonuses, if any, is payable on the expiry of policy term or in case of prior death. The reversionary bonuses already accrued to the policy as on the date of paid-up will remain attached to the policy. A paid-up policy will not accrue any further bonuses.  Rider(s) do not acquire any paid-up value and the rider benefits cease to apply, if policy is in lapsed condition.
  • 15. Surrender Value The policy can surrendered for cash provided atleast three full years’ premiums have been paid. The Guaranteed Surrender value shall be percentage of total premiums paid (net of service tax) excluding extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered. In addition, the surrender value of any vested simple reversionary bonuses, if any, shall also be payable, which is equal to vested bonuses multiplied by the surrender value factor applicable to vested bonuses. These factors will depend on the policy term and policy year in which the policy is surrendered.
  • 16. Loan Loan can be availed under the policy provided the policy has acquired a surrender value and subject to the terms and conditions as the company may specify from time to time.
  • 17. Cooling-off Period If the Policyholder is not satisfied with the “Terms and Conditions” of the policy may be returned to us within 15 days from the date of receipt of the policy bond stating the reasons of objections. On receipt of the same the Corporation shall cancel the policy and return the amount of premium deposited after deducting the proportionate risk premium (for basic plan and rider(s), if any) for the period on cover, expenses incurred on medical examination, special reports if any and stamp duty.
  • 18. Claims Settlement Report of all Life Insurance Companies in India (IRDA Annual Report 2012-13)
  • 19. Get More FREE Insurance Advice