LIC New Endowment Plus Plan
LIC New Endowment Plus Plan – Table No. 835
LIC’s New Endowment Plus Plan is a unit-linked insurance plan popularly called ULIP. The New Endowment Plus is a blend of insurance and investment. In this plan, a premium needs to be paid for the entire policy term. You can invest your money in a choice of 4 funds as per your risk appetite. The Fund Value is paid on policy maturity as Maturity Benefit to the policyholder.
| Launch Date | 19th August, 2015 |
| Plan Details | Table No. 835 |
| Policy Type | ULIP |
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LIC New Endowment Plus Plan - Key Features
There are 4 free switches allowed in each policy year beyond which there is a charge of Rs. 100 applicable to each switch. Switching is basically m Partial withdrawal is allowed after the 5th policy anniversary. Partial withdrawal shall be allowed subject to maintaining a minimum balance of:... Accidental Death Benefit Rider is available in this plan on payment of extra premiums. Top Ups are not allowed in this plan. if the policyholder is not convinced with the terms and conditions of the policy, s/he can cancel the policy within 15 days from the receipt of the In case of Yearly, Half-yearly and Quarterly premium payment mode you have a grace period of 30 days from the premium due date. This plan does not acquire any surrender value at any point of time. If the Life Insured dies, before the Risk commencement date: the Fund Value is paid to the nominee. If the Life Insured die When the policy matures, the Fund Value is paid to the policyholder as Maturity Benefit. The premium paid by you is invested into the 4 Funds of your choice. The details of the Fund Options are mentioned later in this page. You will receive Units of the Funds. The value of funds will be determined by the NAV of funds which keeps changing on a daily basis depending on how they are invested. The Units x NAV of the funds you hold gives you the Fund Value of your investments on a daily basis. There are a list of charges which are applicable in this plan - details will be explained in the “Charges” section later in this article. The policyholder has the following options: The policyholder has the following options: If the policy is surrendered on or before the expiry of the 5 years' lock-in period, then the Policyholder's Fund Value after deducting the Discontinuance Charges, if any, shall be transferred to the Discontinued Policy Fund and the amount shall be paid after 5 years. If the policy is surrendered after the expiry of 5 years' lock-in-period, then the fund value is paid immediately. There is no loan available under this plan.
Fund Nam... LIC New Endowment Plus Plan - Benefits
...How does the LIC New Endowment Plan work?
Eligibility Conditions in LIC New Endowment Plus Policy
Minimum
Maximum
Policy Term
10 years
20 years
Premium Payment Term
Same as the policy term
Age of Entry
90 days
(completed)50 years
(nearest birthday)
Age at Maturity
18 years
(completed)50 years
(nearest birthday)
Premium Payment Modes
Yearly, Half-yearly, Quarterly & Monthly
Premiums
Yearly - Rs. 20,000
Half-yearly - Rs. 13,000
Quarterly - Rs. 8,000
Monthly - Rs. 3,000No limit
LIC New Endowment Plus Plan - FAQs
