LIC’s New Endowment Plus is an individual life insurance plan that falls into the category of Unit Linked, Non-Participating, and Regular Premium policies. This plan offers a combination of investment and insurance coverage throughout the policy term. It is designed to provide you with a strong balance between protection and long-term savings, allowing you to work towards a better life and realizing your dreams.

With this plan, you can choose to invest your premiums in one of four available types of investment funds. After deducting the Premium Allocation Charge, the premiums you pay will be used to purchase units in the selected fund. The Unit Fund’s value is subject to various charges, and the unit value may fluctuate, depending on the Net Asset Value (NAV). This provides flexibility in how you can grow your wealth over time.


Death Benefit

In case of the life assured’s death:

Before the Date of Commencement of Risk: Unit Fund Value is payable.
After the Date of Commencement of Risk: The higher of Basic Sum Assured (10 times the Annualized Premium) reduced by recent Partial Withdrawals, Unit Fund Value, or 105% of the total premiums received (adjusted for recent Partial Withdrawals) will be paid. The death benefit can be received as a lump sum or in instalments, depending on the chosen Settlement Option.

Maturity Benefit

If the Life Assured survives beyond the specified maturity date, an amount equal to the Unit Fund Value will be paid.

Rider Benefit

You can add LIC’s Accidental Death Benefit Rider to your policy, which pays a lump sum for accidental death. It’s available until the policy anniversary when the Life Assured turns 55 and is subject to a minimum rider term of 5 years. The rider cannot be added for minors, during their minority, and the sum assured cannot exceed the Basic Sum Assured. For more details, check the Rider Brochure or contact your nearest LIC Branch Office.

Eligibility Conditions

Minimum Age at entry 90 Days (Completed)
Maximum Age at entry 50 years (nearer birthday)
Minimum Maturity Age 18 years (Completed)
Maximum Maturity Age 60 years (nearer birthday)
Policy Term 10 to 20 years
Premium Paying Term Same as Policy Term


Suicide Clause: In the unfortunate event of suicide within 12 months from the date of risk commencement or policy revival, the nominee or beneficiary of the policyholder will receive the Unit Fund Value as of the date of death. Any charges, excluding Fund Management Charges (FMC), deducted after the date of death will be refunded and added to the Fund Value as of the date of death, upon submission of the death certificate.

It’s important to note that this clause does not apply if the age at entry or age at revival of the Life Assured is below 8 years.

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