New Endowement Plan

LIC’s New Endowment Plan (Plan No. 914), jo pehle Table No. 814 ke naam se jaana jaata tha, Life Insurance Corporation of India (LIC) ka ek bahut hi standard aur fundamental insurance product hai. Yeh ek Non-Linked, Participating, Individual Life Assurance Plan hai.

Is plan ko un logon ke liye design kiya gaya hai jo long-term savings ke saath-saath apni family ko financial protection bhi dena chahte hain. Yeh ek fixed-term plan hai jismein policyholder poore policy term tak regular premium bharta hai aur maturity par ek bada lump sum amount (Bachat + Bonus) paata hai. Agar policy term ke dauraan policyholder ki death ho jaati hai, toh Nominee ko ek substantial amount (Sum Assured + Bonus) milta hai.

Plan Ke Key Features (मुख्य विशेषताएँ)

1. Dual Purpose (Dohra Uddeshya):

Yeh plan Saving (Bachat) aur Protection (Suraksha) ka behtareen combination hai. Savings maturity par milte hain, aur protection death hone par.

2. Fixed Policy Term:

Policyholder apni zarurat ke hisaab se policy term (avdhi) choose kar sakta hai.

• Minimum Term: 12 saal

• Maximum Term: 35 saal

• Premium Paying Term (PPT) policy term ke barabar hota hai.

3. Participation in Profits (Labh mein Bhagidaari):

Chunki yeh ek ‘Participating’ plan hai, ismein policyholder LIC ke profits mein hissa leta hai. Yeh hissa Bonuses ke roop mein milta hai, jo Maturity aur Death Benefit dono ko badha dete hain.

• Simple Reversionary Bonus (SRB): Yeh bonus har saal LIC dwara policy ke Basic Sum Assured par declare kiya jaata hai aur policy mein jama hota rehta hai.

• Final Additional Bonus (FAB): Agar policy ek certain minimum term tak chali ho, toh maturity ya death ke time par ek one-time extra bonus diya jaata hai.

4. Liquidity Option (Taralta Suvidha):

Is plan mein Loan Facility available hai. Agar policy ne do saal ke full premiums pay kar diye hain, toh policyholder policy ki Surrender Value ke against loan le sakta hai.

Eligibility Criteria (पात्रता मापदंड)

Benefits (फायदे)

A. Maturity Benefit (Paripakvata Laabh)

Agar policyholder poore policy term tak zinda rehta hai, toh term khatam hone par use ek bada lump sum amount milta hai:

Maturity Benefit = Basic Sum Assured (BSA) + Vested Simple Reversionary Bonuses + Final Additional Bonus (Agar koi ho)

Yeh lump sum amount policyholder ko uske financial goals (jaise retirement fund, bacchon ki shaadi/education) poora karne mein madad karta hai, aur yeh bhi Tax-Free hota hai.

B. Death Benefit (Mrityu Laabh)

Agar policyholder ki unfortunately death ho jaati hai policy term ke dauraan (jabki policy chalu ho), toh Nominee ko Death Benefit milta hai:

Death Benefit = “Sum Assured on Death” + Vested Simple Reversionary Bonuses + Final Additional Bonus (Agar koi ho)

Yahan “Sum Assured on Death” is defined as the Higher of (i) Basic Sum Assured OR (ii) 7 times of Annualized Premium.

• Iske alawa, yeh Death Benefit hamesha Total Premiums Paid ka 105% se kam nahi hoga (Total Premiums Paid mein Tax aur Rider Premium shamil nahi hote).

• Yeh Death Benefit bhi Nominee ke liye Tax-Free hota hai.

C. Optional Riders (Vikalpik Riders)

Policyholder apni basic coverage ko extra premium dekar badha sakta hai, riders choose karke. Jaise ki:

1. LIC’s Accidental Death and Disability Benefit Rider

2. LIC’s Accident Benefit Rider

3. LIC’s New Term Assurance Rider

4. LIC’s New Critical Illness Benefit Rider

5. LIC’s Premium Waiver Benefit Rider (Eligibility ke anusaar)

Other Key Aspects

• Premium Payment Modes: Premiums aap Yearly, Half-yearly, Quarterly ya Monthly (ECS ke through) mode mein pay kar sakte hain.

• Grace Period: Premium ki due date ke baad bhi 15 din (monthly mode ke liye) aur 30 din (yearly, half-yearly, quarterly mode ke liye) ka grace period milta hai.

• Tax Benefits:

  • Premium Payment: Premium jo aap pay karte hain, us par Income Tax Act ke Section 80C ke under deduction milta hai (up to ₹1.5 Lakh).

  • Benefits Received: Death aur Maturity par milne wala amount Income Tax Act ke Section 10(10D) ke under poori tarah se tax-free hota hai (specified conditions ke aadhin).

• Surrender Value & Paid-up Value:

  • Surrender Value: Policy ko 2 saal ke full premiums pay karne ke baad surrender kiya ja sakta hai.

  • Paid-up Value: Agar policyholder 2 saal ke baad premium bharna band kar deta hai, toh policy lapse nahi hoti, balki ‘Paid-up’ ho jaati hai, aur benefits reduce ho jaate hain.

LIC New Endowment Plan Kyun Lena Chahiye?

1. Safety & Security: LIC ki Sovereign Guarantee hone ke karan, yeh plan ek bahut hi safe investment option hai. Market-linked na hone ki wajah se ismein returns ki certainty zyada hoti hai.

2. Long-Term Goal Planning: Agar aapka koi long-term financial goal hai (jaise 15-20 saal baad), toh yeh plan us goal ke liye systematic saving ka ek disciplined tareeka provide karta hai.

3. Bonus ka Fayda: ‘Participating’ plan hone ke karan, Simple Reversionary Bonus aur Final Additional Bonus milne se aapke returns Fixed Deposit se behtar ho sakte hain.

Conclusion:

LIC’s New Endowment Plan (914) ek classic insurance product hai jo har us vyakti ke liye ideal hai jo apni family ko financial security dete hue disciplined tarike se long-term ke liye savings karna chahta hai. Yeh plan market risk se door rehkar, guaranteed protection aur attractive bonuses ke saath ek bada lump sum create karne ka mauka deta hai.

(Disclaimer: Plan lene se pehle LIC ke official document ya authorized advisor se saari jaankari verify karein. Tax laws aur policy benefits waqt ke saath badal sakte hain.)