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Product comparison: LIC Endowment with Profits Policy (Table no 14) & SBI Life Saral Life Policy

LIC Endowment with Profits Policy Type of plan Minimum Entry Age Maximum Entry Age Policy Term Mode of Premium Payment Minimum Sum Assured Maximum Sum Assured Loan Availability Surrender Value Participating endowment plan 12 65 5-55years Monthly, Quarterly, Half-Yearly, Yearly, Salary Saving Scheme. Rs. 50000 SBI Saral Life Participating endowment plan 18 60 10/15/20/25 years Yearly / Half-yearly / Quarterly / Monthly Rs. 1 lakh

No Limit

Rs. 3 lakhs

Yes The policy may be surrendered after it has been in force for 3 years or more. Guaranteed surrender value is 90% of the paid up value excluding any extra/additional premium.

Yes

Maturity Benefit Death Benefit (within the policy term)

The policy may be surrendered after it has been in force for 3 years or more. After completion of 3 years there will be a guaranteed surrender value of 30% of basic policy Paidup value = No of premiums paid xSA premiums paid minus the 1st year No of premiums payable premium excluding any extra/additional premium.. Sum Assured + bonus + final addition Sum Assured + accrued regular bonus(if any) bonus + terminal bonus (if any) is payable. Sum Assured + bonus for no of years Sum Assured + accrued regular premiums paid+ final addition bonus(if bonus + terminal bonus (if any) any) is payable to the nominee.