LIC's New Endowment Plus (735)
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LIC's New Endowment Plus (UIN: 512L301V03) s is a Regular Premium, Non-Par, Life, Individual Savings plan which offers insurance cum savings 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 to build a better life and realise your dreams. LIC’s New Endowment Plus is a non-participating product and hence the policy is not entitled for any share in surplus (profits) during the term of the policy.
🔍 Key Features:
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Entry Age: 30 days (completed) to
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Maximum Age at entry: 50 years (nearer birthday)
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Policy Term: 10 to 20 years
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Premium Paying Term: 10 to 20 years
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Minimum Maturity age: 18 years (completed)
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Maximum Maturity age: 60 years (nearer birthday)
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Premium Payment Modes: Monthly (ECS), Quarterly, Half-yearly, Yearly
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Premium Amount/Premium Paying Modes
| Mode | Minimum | Maximum |
| Yearly | 42,000 | No Limits |
| Half-Yearly | 21,000 | No Limits |
| Quarterly | 10,500 | No Limits |
| Monthly | 3,500 | No Limits |
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Sum Assured: 10 times the annualized premium
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Investment Funds: Choice among four funds—Bond, Secured, Balanced, and Growth
💰 Benefits
1. Maturity Benefit
On Life Assured surviving the stipulated date of maturity, an amount equal to the Unit Fund Value as on the Date of Maturity shall be payable.
2. Death Benefit
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Before Commencement of Risk: Refund of the Unit Fund Value as on date of intimation of death shall be payable.
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After Commencement of Risk: Higher of the Basic Sum Assured (minus partial withdrawals) or the Unit Fund Value/105% of the total premiums received upto the date of death reduced by Partial Withdrawals made during the two years period immediately preceding the date of death
3. Partial Withdrawals
Allowed after five policy years, enabling liquidity for unforeseen financial needs.
4. Fund Switching
Policyholders could switch between investment funds, with up to four free switches per policy year, adapting to changing financial goals and market conditions.