LIC New Endowment Plan - Table no 814 in kannada|| life insurance || life time risk cover

LIC New Endowment Plan - Table no 814
Simple and most popular saving and insurance plan
Low premium in comparison other plan in this category
Eligible for bonus and final addition bonus
Tax saving on premium paid
Tax free maturity amount
Death Benefit – In case of death of the Life Insured within the Policy Tenure, the Nominee would be paid the “Sum Assured on Death” along with vested Bonuses as Death Benefit and the policy would be terminated.The Sum Assured on Death has been defined as higher of Basic Sum Assured or 10 times the Annualized Premium subject to a minimum of 105% of all Premiums paid.Maturity Benefit – On survival till the end of the Policy Tenure, the policyholder will Sum Assured + accrued Reversionary Bonus + Final Addition Bonus (if any) as Maturity Benefit and the policy will be terminated.Income Tax Benefit – Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C. The Maturity Benefit is also tax free under section 10(10)D subject to fulfilment of all terms and conditions.

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