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New Endowment Plus (Plan 835)

LIC’s New Endowment Plus is a unit linked assurance plan, which offers investment-cum-insurance during the term of the policy. The Policyholder can choose the amount of premium he/she desires to pay, depending on which Policyholder will get the equivalent level of cover. Each premium paid by the Policyholder shall be subject to Premium Allocation charge as per rule. The allocated premium will be utilized to purchase units as per the selected fund type. The Policyholder’s Fund Value will be subject to deduction of charges as per rule. Units will be allotted and cancelled based on the Net Asset Value (NAV) of the respective fund applicable to the date of allotment / cancellation. The NAV will be computed on daily basis and will be based on the investment performance and Fund Management Charges (FMC) of each fund type.



Investment Fund Type:

Bond, Secured, Balanced, and Growth Fund

1. Bond Fund:

Investment in Government : Not less than 60%

Short-term Investment : Not more than 40%

Investment in listed equity shares : NIL

Fund for risk/return : Low risk

SFIN No.: ULIF001201114LICNED+BND512

2. Secured Fund:

Investment in Government : Not less than 45%

Short-term Investment : Not more than 40%

Investment in listed equity shares : Not less than 15% & Not more than 55%

Fund for risk/return : Steady Income - Low to Medium risk

SFIN No.: ULIF002201114LICNED+SEC512

3. Balanced Fund:

Investment in Government : Not less than 30%

Short-term Investment : Not more than 40%

Investment in listed equity shares : Not less than 30% & Not more than 70%

Fund for risk/return : Balanced Income and Growth - Medium risk

SFIN No.: ULIF003201114LICNED+BAL512

4. Growth Fund:

Investment in Government : Not less than 20%

Short-term Investment : Not more than 40%

Investment in listed equity shares : Not less than 40% & Not more than 80%

Fund for risk/return : Long term Capital growth - High risk

SFIN No.: ULIF004201114LICNED+GRW512

Basic Sum Assured is (10 * Annualized Premium) or (105% of total premiums paid), whichever is higher.

Risk Cover:

If age at entry is less than 8 years the risk will commence one day before the completion of 2 years from DOC or at policy anniversary following completion of 8 years of age, Whichever is earlier.

In case the age as entry is 8 years or more, Risk will commence immediately.

Premium payment be made Monthly (by ECS), Quarterly, Half yearly and Yearly as suits you better.

Term: 10 to 20 years.

Entry Age: Minimum 90 days and maximum 50 years.

Minimum Sum Assured :

YLY : 20,000

HLY : 13,000

QLY : 8000

ECS : 3000

Accidental Benefit Rider Available.

Policy Benefits :

On Death :

On death before the Date of Commencement of Risk:

An amount equal to the Policyholder’s Fund Value shall be payable.

On death after the Date of Commencement of Risk:

An amount equal to the higher of Basic Sum Assured or Policyholder’s Fund Value shall be payable. Where, Basic Sum Assured is (10 * Annualized Premium) or (105% of the total premiums paid), whichever is higher.

On Survival :

Fund Value at the time of maturity.

Surrendered Value :

Policy can be surrender after 5 years.

Partial Withdrawals after 5 years. Life Assured must be major.

Loan :

Not available.
Income Tax Benefit :

80C Rebate up to Rs 1,50,000 & Maturity & Death Claim Amount 100% Tax Free.