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1. Guaranteed Sum Assuredlic bonus
2. Bonus + FABlic bonus+
Benefit 1: Maturity returns on th year = 1 + 2 (Tax Free)lics jeevan anand 915
Benefit 2 :Aproximate loan availability after 3 yearsloan on lic policy
On death before th year of plan maturity :
1. On death before maturity: Guaranteed life insurancelic bonus
2. If accidental death: DAB paidlic bonus
3. As on death bonus paid: Accumulated Bonus+ FABBuy lic plan online+
Total payable to nominee = 1 + 2 + 3 (Tax Free):Lic Maturity Amount
*Note: Bonus and Final Additional Bonus (FAB) are calculated till the policy maturity term. Simple Reversionary Bonuses are considered not more than Rs.60 per thousand to calculate returns for illustration and actual bonus will be declared by LIC in future.
Death benefits illustration is calculated assuming death of life assured occurs before a year of maturity.
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      • DAB Premium
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    • YEARLY

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    • Pay online

      • Premium
      • DAB Premium
      • GST (4.5%)
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Note:For Monthly mode of premium payment, 2 months premium have to be paid initially. eNACH (Auto deduction from your bank) setup is mandatory.
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lic premium payment optionsWhy you should buy LIC plans?   LIC is the only Life Insurance Company in INDIA where Sum Assured and Bonuses declared are GUARANTEED BY THE GOVT OF INDIA. (refer Section 37 LIC ACT 1956)

LIC' New Endowment Plan 

Simple to understand, an investment endowment plan which offers a combination of Protection and Savings.
Why complicate insurance plans?

Benefits of LIC Endowment Investment Plan

a)Short term premium payment: LIC Endowment plan is a short term plan with premium payment starting 12 years.
b)Maturity benefit: Maturity in Endowment plan is given at the end of the policy term along with sum assured and simple revisionary bonus.
c) Tax benefit:Endowment Plan helps you reduce your taxable income by investing up to Rs.1.5 lakh under Section 80C. The claims or maturity amount received is also tax free under 10(10D)
d) Riders: You can choose from a variety of Riders. Accidental Rider is most commonly opted. For a nominal premium, get double your Basic Sum Assured

Who can buy this plan? Eligibility Conditions for LIC Endowment Plan

a)Minimum Basic Sum Assured:Rs. 1,00,000
b)Maximum Basic Sum Assured:No limit
c)Policy Term:12 to 35 years
d)Premium Paying Term:Same as policy term
e)Minimum Age to buy this plan:8 Years Completed
f)Maximum Aged allowed to buy this plan:55 Years (Age Nearer Birthday)
g)Maximum Age at Maturity:75 years

Is LIC Endowment Plan better than FD/MF/PPF?


Tax Benefit on Premiums

Tax Benefit on Returns

Maturity Value

+ Life Cover


Tax Benefit on Premiums: Selected products

Tax Benefit on Returns: Taxable

Maturity Value: Guaranteed

+ Life Cover: NO


Tax Benefit on Premiums: Selected

Tax Benefit on Returns:Returns Fully Taxable

Maturity Value: Market Risk

+ Life Cover: NO


Tax Benefit on Premiums: YES

Tax Benefit on Returns: Tax-Free

Maturity Value: Guranteed

+ Life Cover: NO

endowment plan

Tax Benefit on Premiums: YES

Tax Benefit on Returns: TAX FREE

Maturity Value: SAGUARANTEED

Life Cover: YES

FAQs about LIC Endowment Plan

Who can buy LIC Endowment plan?

LIC Endowment Plan is a simple life insurance plan which offers life cover and lumpsum at maturity. LIC endowment plan is best suited plans for Software Engineers, Doctors, professionals and self Employed etc..

Do I pay the premium Monthly or Annually?

LIC premiums can be paid Yearly, Half yearly, Quarterly or Monthly. Yearly premium offers 2% discout, Half-yearly premium offers 1% discount. If you opt for Monthly premiums, NEFT will be set up, where in the Premium will be deducted from your bank account on the chosen date every Month.

How can I save Income Tax with this plan?

All premiums paid towards your LIC endowment policy is considered for Income Tax saving under Sec 80c of Income tax act. You can invest upto Rs.1,50,000 under 80c and save tax upto Rs.46,800 every year.

When is the best time to start investing in LIC Endowment plan?

Now is the best time!! Ideally one should start with tax saving LIC endowment plan policy as soon as possible. The younger you start your policy, the better benefits - Lower premium, Higher life cover, long term corpus building for retirement, save Tax from the start, disciplined savings habit from an early age. Also adequate life cover to start with.

When should I start LIC endowment plan in the Finanical Year for Tax Saving?

Any premiums paid between 1st April to 31st March is considered for tax saving for that financial year. If opting for Yearly premium payment mode, you can start the policy whenever convenient. If you are choosing other modes, then to save tax for the whole year, you can use the Date Backing option. You can contact us for further information on this.

Are the maturity benefits or returns from LIC endowment plan Tax free?

All returns or proceeds including bonus, sum assured or surrender value from LIC new endowment plan are Tax free under Income Tax Act 10(10D)

The premiums can be paid Yearly, Halfyearly, Quaterly or Monthly.

Policyholder can avail loan on policy after 3 successful years of premium payment.

Your LIC policy bond will be issued after acceptance of your online proposal.

Bonus added to your policy at the end of every financial year and paid on maturity along with sum assured.

Why buy from LIC plan and Online?