LIC's New Endowment Plan (Plan No. 914) : Benefit Illustration
LIC's New Endowment Plan (Plan No. 914) : Benefit Illustration
LIC's New Endowment Plan (Plan No. 914) : Benefit Illustration
914)
Benefit Illustration
This benefit illustration is intended to show year-wise premiums payable and benefits under the policy, at two assumed rates of interest i.e., 8% p.a. and 4% p.a.
Some benefits are guaranteed and some benefits are variable with returns based on the future performance of your insurer carrying on life insurance business. If your policy
offers guaranteed benefits then these will be clearly marked 'guaranteed' in the illustration table on this page. If your policy offers variable benefits then the illustrations on this
page will show two different rates of assumed future investment returns, of 8% p.a. and 4% p.a. These assumed rates of return are not guaranteed and they are not the upper
or lower limits of what you might get back, as the value of your policy is dependent on a number of factors including future investment performance.
Premium summary
Particular Base plan Riders1 Total instalment premium
Instalment premium without GST 1,056.00 1,056.00
Instalment premium with GST @ 4.50% (1st year) 1,104.00 1,104.00
Instalment premium with GST @ 2.25% (2nd year onwards) 1,079.76 1,079.76
GST rate shall be as applicable from time to time
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LIC's New Endowment Plan (Plan No. 914)
(Amount in rupees)
3 37173 13011 500000 0 17250 345 45000 900 0 0 517250 545000 13356 13911
4 49564 24782 500000 0 23000 704 60000 1836 0 0 523000 560000 25486 26618
5 61955 30978 500000 0 28750 1728 75000 4508 0 0 528750 575000 32706 35486
6 74346 37173 500000 0 34500 2073 90000 5409 0 0 534500 590000 39246 42582
7 86737 43369 500000 0 40250 4271 105000 11141 0 0 540250 605000 47640 54510
8 99128 50664 500000 0 46000 5548 120000 14472 0 0 546000 620000 56212 65136
9 111519 58235 500000 0 51750 6831 135000 17820 0 0 551750 635000 65066 76055
10 123910 66081 500000 0 57500 8125 150000 21195 0 0 557500 650000 74206 87276
11 136301 74202 500000 0 63250 9450 165000 24651 0 0 563250 665000 83652 98853
12 148692 82613 500000 0 69000 10440 180000 27234 0 0 569000 680000 93053 109847
13 161083 91286 500000 0 74750 11422 195000 29796 0 0 574750 695000 102708 121082
14 173474 100233 500000 0 80500 12413 210000 32382 0 0 580500 710000 112646 132615
15 185865 109456 500000 0 86250 13412 225000 34988 0 0 586250 727500 122868 144444
16 198256 118954 500000 0 92000 14462 240000 37728 0 0 592000 742500 133416 156682
17 210647 128726 500000 0 97750 15572 255000 40622 0 0 597750 760000 144298 169348
18 223038 138774 500000 0 103500 16788 270000 43794 0 0 603500 777500 155562 182568
19 235429 149097 500000 0 109250 18114 285000 47253 0 0 609250 795000 167211 196350
20 247820 159695 500000 0 115000 19585 300000 51090 0 0 615000 812500 179280 210785
21 260211 170594 500000 0 120750 21228 315000 55377 0 0 620750 830000 191822 225971
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LIC's New Endowment Plan (Plan No. 914)
(Amount in rupees)
22 272602 181744 500000 0 126500 22239 330000 58014 0 0 626500 852500 203983 239758
23 284993 193168 500000 0 132250 23355 345000 60927 0 0 632250 875000 216523 254095
24 297384 204868 500000 0 138000 24633 360000 64260 0 0 638000 897500 229501 269128
25 309775 216843 500000 0 143750 26105 375000 68100 0 0 643750 925000 242948 284943
26 322166 229092 500000 0 149500 27807 390000 72540 0 0 649500 952500 256899 301632
27 334557 241617 500000 0 155250 29777 405000 77679 0 0 655250 980000 271394 319296
28 346948 254417 500000 0 161000 32087 420000 83706 0 0 661000 1007500 286504 338123
29 359339 267492 500000 0 166750 34767 435000 90698 0 0 666750 1035000 302259 358190
30 371730 280879 500000 0 172500 37933 450000 98955 0 0 672500 1070000 318812 379834
31 384121 294506 500000 0 178250 41675 465000 108717 0 0 678250 1105000 336181 403223
32 396512 308407 500000 0 184000 46092 480000 120240 0 0 684000 1140000 354499 428647
33 408903 322584 500000 0 189750 51346 495000 133947 0 0 689750 1175000 373930 456531
34 421294 379165 500000 0 195500 58650 510000 153000 0 0 695500 1210000 437815 532165
35 433685 390317 500000 500000 201250 70438 525000 183750 701250 1245000 701250 1245000 460755 574067
Notes:
The main objective of the illustration is that the client is able to appreciate the features of the products and the flow of the benefit in different circumstances with some level of
quantification.
This illustration is applicable to a standard (from medical, life style and occupation point of view) life.
1. It includes rider(s) premiums in respect of all the rider(s) opted by the proposer/policyholder at inception of the policy.
2. Annualized premium excludes underwriting extra premium, frequency loadings on premiums, the premiums paid towards the riders, if any, and goods & service tax. Refer
sales literature for explanation of terms used in this illustration.
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LIC's New Endowment Plan (Plan No. 914)
3. In any case, the total death benefit at any time shall not be less than 105% of the total premiums paid (excluding GST, extra premium and rider premiums, if any).
4. Special surrender value may however be payable, if it is more favourable to the policyholder.
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