LIC’s New Endowment Plus is a Unit Linked, Non-Participating, Regular Premium, Individual Life Insurance plan which offers investment cum insurance cover during the term of the policy.¹ This plan is specially designed to provide a very good combination of protection and long term savings and also provides greater flexibility to build a better life and realise your dreams. You have a choice of investing premiums in one of the four types of investment funds available. Premiums paid after deduction of Premium Allocation Charge will purchase units of the Fund type chosen. The Unit Fund is subject to various charges and value of units may increase or decrease, depending on Net Asset Value (NAV).²

Benefits:

On death before the Date of Commencement of Risk: An amount equal to the Unit Fund Value shall be payable.

On death after the Date of Commencement of Risk: An amount equal to the highest of the following shall be payable:

• Basic Sum Assured³ reduced by Partial Withdrawals made during the two years period immediately preceding the date⁴ of death; or

• Unit Fund Value; or

• 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.⁵

Where, ‘Basic Sum Assured’ is equal to ’10 times of Annualized Premium’.

Maturity Benefit: On Life Assured surviving the stipulated date of maturity, an amount equal to the Unit Fund Value shall be payable.

Eligibility Conditions & Other Restrictions: