New Single Endowment Assurance

It is a Single payment non-linked endowment life insurance with profit plan which offers guaranteed returns in the form of Guaranteed Sum Assured and vested reversionary bonuses with Final Additional Bonus. It is the combination of Investment plus Life Cover. Policy can be availed with duration of 10 years to 25 years and can be taken any person between the ages of 3 months to 65 years.

Combination of Life insurance & investment

It gives a lump sum amount at the end of term, to take care of important milestones in your life like retirement needs, children’s education, and children’s marriage. In case of unfortunate demise, family needs are taken care.

Guaranteed Risk Cover in case of Death

Guaranteed Sum Assured with Vested Bonus will be payable in case of Unfortunate death. This will help the family to fulfil their needs in the absence of bread winner.

Liquidity in the form of Loan

Fulfil financial needs by exercising loan facility on policy immediately after one year. Loan Facility is available at very concessional rate.

Profit Sharing as per Valuation

Every year, LIC declares valuation results.
As per valuation result declared by LIC, profit is being shared among all policyholders as bonus.

Features of Fixed Deposit with Longer Term

By paying small extra premium amount, you can secure your life for high insurance protection on natural or accidental death by opting DAB and Term Rider.

Advantages

Avail Tax benefit on premium paid

Tension Free Claim Settlement

Eligibility Criteria

	Minimum	Maximum
Entry Age	30 Days Completed	65 Years Nearer birthday
Term	10 Years	25 Years
Sum Assured	₹ 1,00,000/-	No Limit

Premium Modes
Single Premium Only

Riders Available

LIC’s Accidental Death & Disability Benefit Rider

LIC’s New Term Assurance Rider

Death Benefit

On death of the Life Assured during the Policy Term, Sum Assured on Death alongwith vested Simple Reversionary bonuses and Final Additional bonus (if any), where “Sum Assured on Death” is defined as:

For age at entry of Life Assured less than 50 years: Higher of Basic Sum Assured or 1.25 times of Single premium.
For age at entry of Life Assured 50 years and above: Higher of Basic Sum Assured or 1.10 times of Single premium Single Premium referred above excludes taxes, extra premium and rider premium(s), if any.

However, in case of minor Life Assured, whose age at entry is below 8 years, on death before the commencement of Risk (as specified in Para 1 above), the Death Benefit payable shall be refund of Single premium paid (excluding taxes, extra premium and rider premiums if any), without interest.

Maturity Benefit

Sum Assured on Maturity alongwith vested Revesionary Bonus and Final Additional Bonus.

Loan Facility is available during the term after 3 months from completion of the policy.

Option to Surrender the Policy

The policy can be surrendered at any time during the policy year. On surrender of the policy, the Corporation shall pay the Surrender Value equal to higher of Guaranteed Surrender Value andSpecial Surrender Value.