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LIC's New Endowment Plus (ULIP)

LIC's New Endowment Plus is a unit linked non-participating endowment assurance plan which offers investment cum insurance cover during the term of the policy. This plan is specially designed for you to provide a very good combination of protection and long term savings and also provides you greater flexibility.

Salient features:
Basic Sum Assured: 10 times annulised premium or 105% of total premium paid(whichever is higher)
Age Eligibility: 90days to 50 years
Maximum Maturity Age: 60 years
Policy Term: 10 to 20 years
Premium Mode: Yearly, Half yearly, Quaterly, Monthly
Loan: Available after 3 years

Insurance Benefit:
Date of commencement of risk under the plan:
In case the age at entry of the Life Assured is less than 8 years, the risk under this plan will commence either one day before the completion of 2 years from the date of commencement of policy or one day before the policy anniversary coinciding with or immediately following the completion of 8 years of age, whichever is earlier.
For those aged 8 years or more, risk will commence immediately.

Date of vesting:
If the age of the Life Assured is less than 18 years, the policy shall automatically vest in the Life Assured on the policy anniversary coinciding with or immediately following the completion of 18 years of age and shall on such vesting be deemed to be a contract between the Corporation and the Life Assured.

Investment of funds:
Unit Fund:
The allocated premiums will be utilized to buy units as per the fund type opted by the Policyholder out of the four fund types options available. Various types of fund options are Bond fund, Secured fund, Growth fund and Balanced fund
Note: Please read offer document carefully before investing