The death benefit as defined above shall not be less than 105% of total premiums* paid as on the date of 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]
Eligibility Conditions and Restrictions
Age at entry – 8 to 55 years
Age at Maturity – Maximum 75 Years
Policy Term – 12 to 35 years
Premium mode – Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS)
Basic Sum Assured – 100000 and above
Loan – Available after payment of 3 full years premiums.
The maximum amount of loan that can be granted as a percentage of Surrender Value shall depend on the Policy Term.
Foreclosure action shall not be taken under fully paid-up and inforce policies even if there is default of loan interest.
Guaranteed Surrender Value (GSV) – Available after payment of 3 full years premiums.
GSV shall be a percentage of total premiums paid (net of taxes) excluding extra premium, if any and premium paid for riders,if opted for.
Examples of GSV factors applicable for total premiums paid
Policy Year ~ GSV factor
3 = 30%
5 = 50%
t -1 = 80% (t=Policy Term)
GSV factor applicable to vested bonus,if any. Examples of Vested bonus factors –
Surrender Value shall be the discounted value of the Paid-up Sum Assured and vested simple reversionary bonuses.
Year of SV – Policy Term – Factor
3 12 18.60%
19 25 20.85%
29 30 30%
( In multiples of 5000)
Special Surrender Value (SSV) – The discount factors shall be surrender value factors as provided in Table-1A of the Special Surrender Value Booklet and will depend upon the policy term and duration elapsed since the commencement of the policy.
Surrender Value payable – The Higher of Guaranteed Surrender Value and Special Surrender Value shall be payable.
LIC’s New Endowment Plan 814 – 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.
i have deceided to insure lic policy. please tell me what is the best one of lic plan my age was 25. my husband age is 32 what is the best plan of LIC?
can you plz tell me which is the best policy for monthly saving?
sir, My Point of view Endowment plan is the best for monthly long term saving.
thanks..
Does this policy has 80C benefit?
YES
i want the complete information about table no 814. its plan n all
The death benefit as defined above shall not be less than 105% of total premiums* paid as on the date of 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]
Eligibility Conditions and Restrictions
Age at entry – 8 to 55 years
Age at Maturity – Maximum 75 Years
Policy Term – 12 to 35 years
Premium mode – Yearly, Half-yearly, Quarterly, Monthly (SSS or ECS)
Basic Sum Assured – 100000 and above
Loan – Available after payment of 3 full years premiums.
The maximum amount of loan that can be granted as a percentage of Surrender Value shall depend on the Policy Term.
Foreclosure action shall not be taken under fully paid-up and inforce policies even if there is default of loan interest.
Guaranteed Surrender Value (GSV) – Available after payment of 3 full years premiums.
GSV shall be a percentage of total premiums paid (net of taxes) excluding extra premium, if any and premium paid for riders,if opted for.
Examples of GSV factors applicable for total premiums paid
Policy Year ~ GSV factor
3 = 30%
5 = 50%
t -1 = 80% (t=Policy Term)
GSV factor applicable to vested bonus,if any. Examples of Vested bonus factors –
Surrender Value shall be the discounted value of the Paid-up Sum Assured and vested simple reversionary bonuses.
Year of SV – Policy Term – Factor
3 12 18.60%
19 25 20.85%
29 30 30%
( In multiples of 5000)
Special Surrender Value (SSV) – The discount factors shall be surrender value factors as provided in Table-1A of the Special Surrender Value Booklet and will depend upon the policy term and duration elapsed since the commencement of the policy.
Surrender Value payable – The Higher of Guaranteed Surrender Value and Special Surrender Value shall be payable.
LIC’s New Endowment Plan 814 – 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.
If premium is 13,000 yearly in table no 814 for 12 years when sum insured is 2,00,000.
What would we get after 16 years ?
any one give me best single premium plan which give higher return …and bonus benefit.
Bima Bhachat..
single premium plan
lic new plan no. 834 radirekner sand me
Shall I get a best plan based on a single premium amount with good returns as well
I need a yearly plan for 5 years, which is the best
i have deceided to insure lic policy. please tell me what is the best one of lic plan my age was 25. my husband age is 32 what is the best plan of LIC?
I want complete information of table 821. If monthly instalment is 2867.50.
Mere bete ki age 16 year hai 15 year ki policy bataYe jissme kam se kam 2000000 ki return mil sake
For any lic query you can call on +919464325018. Ravinder
What are the existing & expected LIC plans for people in the age groups above 70, please?
I want to complete information about table no.832.and its all plan