New Endowment Plus Plan No. 835

LIC’s New Endowment Plus plan is a unit linked assurance plan, offering investment-cum-insurance during the term of the policy. This plan is an Endowment Plan no. 835 having unique identification number of 512L301V01. This is unit link assurance plan, which provide insurance + investment. According to level of risk and expected return, four fund options are available, a customer can opt one the four fund types. The deposited premium will be used to buy units from funds types which are mix of Investment in Government, Government Guaranteed Securities & Corporate Debt, Short-term investments such as money market instruments and Investment in Listed Equity Shares. 

Eligibility for LIC New Endowment Plus ULIP

·         Minimum Entry Age: 3 Months

·         Maximum Entry Age: 50 years (nearest birthday)

·         Policy Term: 10 to 20 Years

·         Minimum Premium: 20,000 Rs/-

·         Maximum Premium: No Limit

·         Premium Paying Term: Same as Policy Term

·         Basic Sum Assured: Higher of 10 times Annualized Premium or 105% of the total premiums paid

·         Commencement of Risk –

·         Age at Entry less than 8 years – Date of purchase +2 Years

·         Age at Entry 8 years or more – Immediately

·         Lock in Period - 5 Years

• Death Benefit – An amount equal to the higher of Basic Sum Assured or Policyholder’s Fund Value shall be payable.
• Maturity Benefit – On Life Assured surviving the date of maturity provided the policy is in-force, an amount equal to Policyholder’s Fund Value shall be payable.
• Fund Options – The allocated premiums will be utilized to buy units as per the fund type opted by the Policyholder. LIC is offering four fund types under New Endowment Plus.

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Ravindra Yadav