New Endowment (Table-914) Premium Calculator
Calculate premiums for the New Endowment (Table-914) policy with our user-friendly premium calculator. Plan your financial future with ease and determine the best coverage for your needs.
Our calculator provides accurate and transparent results, helping you make informed decisions. Explore the benefits of New Endowment (Table-914) and secure your financial well-being today. Start calculating premiums now!
Introduction
Are you considering a life insurance policy that offers both protection and savings? Look no further than the New Endowment Plan (Table-914) by LIC (Life Insurance Corporation of India). In this page, we’ll explore the key features of the New Endowment Plan and provide an in-depth guide on how to use the premium calculator to determine the premium amount based on your age, policy term, and sum assured. Let’s dive in and discover the benefits of this remarkable policy.
Understanding the New Endowment Plan (Table-914)
The New Endowment Plan (Table-914) is a life insurance policy designed to provide financial security and savings for individuals aged between 8 and 55 years. It offers a flexible policy term ranging from 12 to 35 years, with the maximum age at maturity set at 75 years. The maturity amount at the end of the policy term comprises three main components:
1. Basic Sum Assured: The guaranteed amount payable on maturity.
2. Accumulated Simple Reversionary Bonus: Additional bonuses earned during the policy term.
3. Final Additional Bonus (FAB): An additional bonus paid at the end of the policy term.
Comprehensive Coverage and Riders
Death Benefit
In the unfortunate event of death during the policy term, the New Endowment Plan (Table-914) provides comprehensive coverage. The death claim amount includes:
- Death Sum Assured: Either the basic sum assured or 7 times the annualized premium, whichever is higher.
- Accumulated Simple Reversionary Bonus (until 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)
Riders
The policy offers various optional riders to enhance coverage according to individual needs:
- Accidental and Disability Benefit Rider
- Term Assurance Rider
- Accidental Benefit Rider
- Premium Waiver Benefit Rider
Premium Calculation with the New Endowment Plan (Table-914) LIC Premium Calculator
To determine the premium amount for the New Endowment Plan (Table-914), LIC provides a user-friendly premium calculator. Follow these steps to calculate your premium:
1. Visit the website [Calculator] or access the premium calculator directly from the New Endowment Plan page.
2. Enter your age, policy term, and sum assured.
3. The premium calculator will instantly generate the premium amount based on your input.
Premium Calculation and Benefits
To give you a better understanding of the premium calculation and benefits, let’s consider an example:
Suppose a 30-year-old individual opts for the New Endowment Plan (Table-914) with a policy term of 20 years and a sum assured of ₹10,00,000. Here are the sample premium calculations and benefits:
- First-year premium (for different modes of payment): Displayed with corresponding GST.
- Second-year onward premiums (for different modes of payment)
Benefits:
- Total Premium Paid
- Minimum Risk Cover
- Maximum Risk Cover
- Approximate Maturity Amount
Conclusion
The New Endowment Plan (Table-914) by LIC is an excellent choice for individuals looking for comprehensive life insurance coverage and savings. With its flexible policy term, riders for enhanced protection, and tax benefits, this plan offers a balanced approach to meeting your financial goals. Utilize the LIC premium calculator to calculate your premium based on your age, policy term, and sum assured. Don’t miss the opportunity to secure your future with the New Endowment Plan (Table-914) and enjoy peace of mind knowing that your loved ones are protected.
Remember, when planning for your financial future, it’s always wise to consult a licensed insurance professional who can provide personalized advice based on your specific needs and circumstances.
For more information about the New Endowment Plan (Table-914), visit the LIC website or reach out to your nearest LIC branch.