LIC's New Endowment Plus Plan is a unit linked, non-participating endowment assurance plan offered by Life Insurance Corporation of India. This ULIP offers life cover, optimise returns, partial withdrawals, and tax benefits. You can choose from 4 different fund options to invest in.
|Entry age||Minimum 90 days to maximum 50 years|
|Maturity age||Minimum 18 to maximum 60 years|
|Policy Term||10 to 25 years|
|Premium Payment Term||Same as policy term|
|Premium Paying Mode||Monthly, quarterly, half-yearly, yearly|
Premiums may vary depending upon factors like age, location, term of the plan and prevailing GST.
This is how LIC's New Endowment Plus Plan works:
|Fund name||Asset category||Risk profile|
|Bond Fund||Government Guaranteed Securities or Corporate Debt - 60-100%, Equity Shares - 0%, and Money Market Instruments - 0-40%||Low risk|
|Secured Fund||Government Guaranteed Securities or Corporate Debt - 40-100%, Equity Shares - 15-55%, and Money Market Instruments - 0-40%||Steady income, low to medium risk|
|Balanced Fund||Government Guaranteed Securities or Corporate Debt - 30-100%, Equity Shares - 30-70%, and Money Market Instruments - 0-40%||Balanced income and growth, medium risk|
|Growth Fund||Government Guaranteed Securities or Corporate Debt - 20-100%, Equity Shares - 40-80%, and Money Market Instruments - 0-40%||Long-term capital growth, high risk|
Get enhanced protection in the event of an accidental death of the life assured during the policy term by attaching LIC's Linked Accidental Death Benefit Rider to your New Endowment Plus Plan.
The LIC's New Endowment Plus Plan doesn't cover death by suicide of the life insured. In the case of death by suicide within 1 year from the date of policy inception or revival, fund value of the policy till the date of death is payable to the beneficiary.
|Policy year||Policy Administration Charge|
|Premium||Premium Allocation Charge|
|2nd to 5th year||5%|
Under the LIC's New Endowment Plus Plan, you can get tax benefits on:
There are several other benefits of purchasing endowment assurance plans from Life Insurance Corporation of India such as:
Why you should buy the LIC's New Endowment Plus Plan from LIC of India?
With LIC's New Endowment Plus Plan, you can get life cover as well as long-term savings. Life Insurance Corporation of India has been successfully operating for almost 6 decades in the insurance industry catering to over 250 million customers across India. From individual and group term insurance plans to health and pension plans, LIC offers a wide range of insurance solutions to meet the varying needs of its customers. It also won India's Most Trusted Brand 2015 and the Indian Insurance Award 2015.
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