LIC Endowment Plans
The LIC endowment plan is a non-connected participating insurance plan. In fact, it provides you both saving as well as protection features. There are several numbers of LIC Endowment plans available such as LIC New Endowment plan, New Jeevan rakshak, LIC Jeevan Anand and so on. All Endowment policies have various criteria as well as benefits. Of course, you can also choose any one of them through comparing their advantages as well as conditions depend on your needs. Commonly, LIC Endowment plans can be held for at least duration of 35 years. Few of Life insurance companies provide the resource of renewing of LIC Endowment plans. Thus, you can also renew LIC Endowment plans up to the age of 75 years old. Behind, completion of the maturity period corporations will pay savings as well as a bonus as lump amount if the policy owner survives.
You can obtain various advantages through taking LIC endowment plans such as maturity benefits & death benefits. In addition, you can obtain extra rider such as accidental death advantage with the benefits. Apart from that LIC Endowment policy offers financial assistance to policyholder family members at any instance of the policy durations. Of course, you also have to bill the premium for each policy terms mainly in the LIC endowment plans in order to obtain the advantages accessible below this plans. Thus, you will also have a choice to choose policy term in LIC endowment plans. You can also estimate your sum that you can obtain as maturity benefits through utilizing maturity calculator in LIC endowment plans.
Key Features of LIC New Endowment Plan
- Plan along with assured returns & bonus
- Easy Reversionary bonus is payable on maturity or else prior death
- Big sum assured rebate is accessible
- LIC’s accidental death & disability benefit rider can be engaged
Benefits of LIC Endowment Plan
The fundamental benefits accessible in LIC endowment plans such as Death benefits & Maturity benefit.
- Death Benefit
If the policy owner pays every due benefit as well as his death happens at the time of policy durations and the company will pay the death benefits to their family. This death benefit paid through the organization will be surely high than 105 percent of every premium paid as on date of death in a plan.
- Maturity Benefit
if you have waged entire premiums at the time of policy durations & policy holder survives unit the terminate of the policy durations will obtain bonuses as well as extra bonuses with your premiums as a maturity benefits in LIC endowment plan.