Star health 
New India Insurance 
LIC’s New Endowment Plan is a participating non-linked plan which offers an attractive combination of protection and saving features. The policy can be availed for a duration of 12 to 35 years. The policy can be taken for anyone between 8 to 55 years of age and can be continued till 75 years of age.
In this plan, a premium needs to be paid for the entire policy tenure. The Sum Assured along with the vested Simple Reversionary Bonus + Final Addition Bonus would be paid to the Life Insured on survival till the end of the Policy Tenure as Maturity Benefit.
Key Features of LIC New Endowment Plan (914)
- Plan with guaranteed returns and bonus
- Simple Reversionary Bonus is payable on maturity or earlier death
- Large Sum Assured Rebate is available
- LIC’s Accidental Death and Disability Benefit Rider can be taken
- Tax benefits of premiums paid and maturity amounts
How does LIC’s New Endowment Plan (914) work?
The policyholder chooses the Sum Assured and the Term of the plan when buying the policy. Based on the age of the insured, the sum assured and the policy term selected, the premium is determined. The policyholder is required to pay premiums for the entire duration of the policy term.
If the insured survives till the end of the policy term and all premiums have been paid, a Maturity Benefit would be paid to the policyholder. Maturity benefit would be equal to the Sum Assured + Bonus Amounts which have been received throughout the policy term + any Final Addition Bonus if declared.
However, if the insured dies during the policy term, then Death Benefit would be payable to the nominee which would be as follows: the Sum Assured on Death + Vested Bonus till the date of death + any Final Addition Bonus.