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LIC Endowment Plus

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LIC Endowment Plus Policy

LIC Endowment Plus is a unit linked insurance plan (ULIP), where the risk of investment is borne by the policyholder. If the Life Insured dies within the policy tenure, the nominee would receive the Sum Assured or the Fund Value, whichever is higher.

Key Features of LIC Endowment Plus

· Unit linked insurance plan with choice of 4 investment funds

· Higher of Sum Assured or Fund Value will be paid as Death Benefit

· Choice of two riders is Accidental Death Benefit and Critical Illness Benefit cover

· Option to decrease the Sum Assured during the policy tenure

Benefits you get from LIC Endowment Plus

Death Benefit - In case of death of the Life Insured, the nominee would get Sum Assured or Fund Value, whichever is higher.

Maturity Benefit - On maturity, the policy fund value is paid to the policyholder.

Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

Eligibility conditions and other restrictions in LIC Endowment Plus

	Minimum	Maximum
Sum Assured (in Rs.) Regular Premium	(Policy Term +1) x Annual premium	30 x Annualized premium
Sum Assured (in Rs.) Single Premium	1.25 x Single premium	5 x Single Premium
Policy Term (in years)	10	20
Premium Payment Term (in years)	Single	Equal to Policy Term
Entry Age of Policyholder (in years)	7	60
Age at Maturity (in years)	18	70
Single Premium (in Rs.)	30,000	No Limit
Payment modes	Yearly, half-yearly, quarterly or monthly (ECS only)

Sample illustration of premium amount in LIC Endowment Plus

Premium = Rs.20,000

Age = 20 years

Sum Assured = Rs.420000

Policy Term = 20 years

PPT = Regular Pay

Total Investment = Rs 20,000 x 20 years = Rs 4,00,000

Additional Features and Benefits of LIC Endowment Plus

Riders – There are 2 riders available in this policy

1. Accidental Death Benefit rider

2. Critical Illness Benefit rider

Investment Fund Options

There are 4 Investment Funds available

1. Bond Fund

2. Secured Fund

3. Balanced Fund

4. Growth Fund

Top-up

Switching

You can switch between the four fund types for the entire Fund Value during the policy term subject to switching charges, if any.

Partial Withdrawal

Partial withdrawals are allowed only after completion of 5 policy years or the life insured’s age is at least 18 years, whichever is later. Partial withdrawal will be allowed subject to at least 2 year’s premiums should remain in the Policyholder’s Fund Value in case of regular premium policies and 25% of the single premium paid in case of single premium policies.

What happens if?

You stop paying the premium before 5 years - If the policy holder stops paying the premium, the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.

You stop paying the premium after 5 years - If the policy holder stops paying the premium after 5 years, then the accumulated policy fund amount till the date of discontinuance shall be paid to the policy holder and the policy will terminate immediately.

You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.

If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.

You want a loan against your policy - There is loan available under this plan under terms and conditions.

Alternate ULIPs from different insurance companies

ICICI Pru Pinnacle Super

India First Smart Save Plan

Aviva LifeSaver Advantage

Other ULIPs from Life Insurance Corporation of India

LIC Pension Plus

Note: This is a statement of facts based on the information collected from the LIC Endowment Plus brochure and insurance company's website. It should not be construed as a Critical or Favourable LIC Endowment Plus Review, Analysis or Recommendation.
Insurance is a subject matter of the solicitation.

24 Responses to "LIC Endowment Plus"

L.I.C IS GOOD PROTECTION FOR HUMEN BEING

By Ashish kumar Asthana on Mar 28, 2012

Dear Viewers,
I am a LIC Agent in Bangalore Vijayanagara Branch, If anybody wants any Insurance policy and any Insurance services Please contanct me:
Cell: 9900016747
Email: Nagendra.km56@gmail.com

By Nagendra.km on Mar 28, 2012

Hi I am from mumbai I had done investment in 802-20 in growth fund . ( Singal Primium) Can I get Tax Benifit.

By sushil on Mar 23, 2012

Dear Viewers,
I am a LIC Agent in Bangalore Vijayanagara Branch, If anybody wants any Insurance policy and any Insurance services Please contanct me:
Cell: 9900016747
Email: Nagendra.km56@gmail.com

By Nagendra.km on Mar 13, 2012

Dear All,

I am LIC Agent in Chennai. If anybody is interested in any Insurance policy and services. Please contanct me @ 9940363146.

Best Wishes
Thirugnanam

By S. Thirugnanam on Mar 12, 2012

Dear Viewers,
I am a LIC Agent in Bangalore Vijayanagara Branch, If anybody wants any Insurance policy and any Insurance services Please contanct me:
Cell: 9900016747
Email: Nagendra.km56@gmail.com

By Nagendra.km on Mar 06, 2012

I have this policy with premium of 1,05,000..i dont know about the bonus..When we can recive the bonus?

By Akshatha on Mar 05, 2012

Dear Viewers,
I am a LIC Agent in Bangalore Vijayanagara Branch, If anybody wants any Insurance policy and any Insurance services Please contanct me:
Cell: 9900016747

By Nagendra.km on Feb 22, 2012

HI I AM A LIC AGENT IF ANY BODY WANTS ANY INDURANCE PLANS ANY PLANS WANTS CONDUCT ME PLEACE MY CONDUCT NO. 9444251827, 9043920614

By D.SANTHI on Feb 11, 2012

i want this Endowment Plus

By pooran on Feb 10, 2012

Dear Viewers,
I am a LIC Agent in Bangalore Vijayanagara Branch, If anybody wants any Insurance policy and any Insurance services Please contanct me:
Mob: 9900016747

Thanks!
Nagendra.

By Nagendra.km on Jan 25, 2012

CHECK THIS POLICY

By MANOJ RAWAT on Jan 09, 2012

premium amt 1539/-
21 years
amt of policy 130000/-
total amount of maturity plz calculate

By dinesh kumar rai on Jan 08, 2012

hi........I am something confuse abt dis, pls send me plicy dtls of which covers death ,tax critical illness benefits and sum assuerd 10-15 laks thus I wll b gratefullto you.

Thanking you

By Jubar Ahmed on Dec 31, 2011

Hello I am Adarsh. I want to know about Endowment plus. I have listen. It"s like to share bazar. and what's the procedure of this plan. How to invest in this plan.

By Adarsh Deep on Dec 30, 2011

tell me about the tax benefit of this policy...& if yes then in which section. plz send me information on my email address.

By sunny munjal on Nov 18, 2011

this policy is very good policy for our life and our family .

By vinod kumar on Oct 02, 2011

this policy is very good for life and our future .

By vinod kumar on Oct 02, 2011

I have taken LIC'S Endowment plus policy. I have got its original document but there is no signature above br. Manager space. Tell me its problem and solution

By Santosh kumar azad on Sep 13, 2011

Hi,

This policy looks like, the one i am looking for. But not completely understood the risks in it and benefits from it.

All i am looking for is a policy with assurance of sum 7500000/- on death or maturity of policy.

With minimum payment of premium per annum and for minimum period.

Suggest one.

Thank you

By Lokesh on Sep 08, 2011

Very Good Policy

By Jolly Dutta on Aug 23, 2011

Hi,i am 37year old i want to buy a term insurance plan .for the cover of 20 to 25 lacs

By Jeet kumar on Jul 27, 2011

Sir

Subject :only insurance for heart attack related

i siju from Kerala. I want to only insurance heart attack related (like 1200 pay it will covering only cancer up to 2 lac under India government scheme)
if you have this type of scheme please in from me why i asking i cant afford this premium
i want insurance only my dad and mum. amount rs= 2 lac if have low premium below 5000 then i can. for cancer i already take under India government scheme
what ever you decision please in from me sir thanks

dad and mum both of age 55 56

my id : sijups.com@gmail.com

By siju.ps. on Jul 12, 2011

I this policy premium waiver is not avilable like sbi and hdfc

By p.asaithambi on Jul 12, 2011

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