New Endowment Plan 914 Maturity Calculator is a basic LIC Policy Maturity Calculator. This Maturity Calculator will not ask you for your personal information, but you need to add exact information to get the correct answer.
For example. The Sum Assured can not be less than ₹1 lack, similarly, The FAB (Final Additional Bonus) Rate is not fixed it’s in LIC’s hand whether to give it to you or not.
Basic Terms used in New Endowment Maturity Calculator:
If you are not able to understand how to use the following Calculator then I have explained them below:
- Basic Sum Assured:- This is an amount to be paid to the Policy Holder on Maturity or to the Nominee on the death of the policyholder.
- Current Age: Your Current Age when you want to buy your policy
- Policy Term: How Long your Policy Premium Tenure, means how many years you are going to pay the premium.
- Year of Purchase: Choose the latest year for the exact Rate of Bonus you will get.
- Final Additional Bonus Rate: It is generally between approx. ₹80 to ₹100 decided by LIC, please ask your Agent.
| New Endowment Plan – Short Information | |
| Age Limit | 8-55 Years |
| Policy Term | 12-35 Years |
| Maximum Age At Maturity | 75 Years (Near Birthday) |
| Maturity Calculator | Basic Sum Assured + Accumulated Simple Reversionary Bonus (Bonus) + Final Additional Bonus (FAB) |
| Death Claim Amount | Death Sum Assured + Accumulated Simple Reversionary Bonus (Bonus) till the time of Death + Final Additional Bonus (FAB) + Term Rider Sum Assured (if Opted). Additional:- Accidental Rider Sum Assured in case of Accidental Death (if opted) |
| Death Sum Assured | Basic Sum Assured or 7 times of your Annual Premium, whichever is higher. |
| Available Riders | Accidental and Disability Benefit Rider, Term Assurance Rider, Accidental Benefit Rider, Premium Waiver Benefit Rider |
| Surrender and Loan | Available in, Premiums of the First 2 Years are paid. |
| Tax Benefit | Premium is exempted (80c) and Maturity/Death Claim is Tax Free 10(10D) |