LIC Endowment Plus ULIP Plan

LIC Endowment Plus ULIP Plan

LIC Endowment Plus ULIP Plan

LIC New Endowment Plus ULIP Plan 835

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LIC Endowment Plus ULIP Plan (Lic table no 835) is a unit linked plan it means this plan is market based assurance plan,offering investment with life insurance during the term of the policy.

LIC New Endowment Plus ULIP Plan 835

  1. LIC New Endowment Plus plan 835 is a market based assurance plan, offering investment with life insurance during the term of the policy.
  2. This Plan allows policyholder to decide the amount of premium can pay. The amount of cover will be decided according to the premium chosen.
  3. A pre-specified percentage shall be deducted up front from the premium as Premium Allocation Charges. This charge is levied to meet the cost of issuing policy such as distributor fee and cost of underwriting.
Premium Allocation Charges
1st Year 7.50%
2nd  to 5th  Year 5.00%
Thereafter 3.00%
  1. The balance investible premium will be used to purchase units  as per the chosen investment fund type by the policyholder. Units will be bought and redeemed based on the Net Asset Value (NAV) as on the date of transaction.
  2. Policyholder has to choose one fund from the table below:
Fund Type Investment in Government / Government Guaranteed Securities / Corporate Debt Short-term investments such as money market instruments Investment in Listed Equity Shares Details and objective of the

 fund for risk /return

Bond Fund Not less than 60% Fund Not more than 40% Nil Low Risk
Secured Fund Not less than 45% Not more than 40% Not less than 15% & Not more than 55% Steady Income -Lower to Medium risk
Balanced Fund Not less than 30% Not more than 40% Not less than 30% & Not more than 70% Balanced Income and growth – Medium risk
Growth Fund Not less than 20% Not more than 40% Not less than 40% & Not more than 80% Long term Capital growth – High risk
  1. There will be on bid-offer spread that means both bid price and offer price will be same as NAV.



Eligibility for New Endowment Plus

Basic Sum Assured Higher of 10 times of Annualized Premium; or

105% of total premiums paid

Minimum Premium Min. Premium is based on the interval of payment:·

Yearly : Rs.20,000·

Half-Yearly : Rs.13,000·

Quarterly: Rs.8,000.

Monthly: Rs.3,000.

Maximum Premium No Limit.
Minimum Entry Age 90 days Completed
Maximum Entry Age 50 years (nearest birthday)
Policy Term 10 years to 20 years
Premium Paying Term Same as Policy Term i.e. 10 years to 20 years
Minimum Maturity Age 18 years Completed
Maximum Maturity Age 60 years (nearest birthday)

Date of Commencement of Risk:

In case of children whose age is less than 8 years risk commencement  starts  either from 2 years of taking the policy or 8 years old which is earlier.

Eligibility for LIC Linked Accident Benefit Rider

Minimum Entry Age 18 years Completed
Maximum Entry Age 55 years (nearest birthday)
Maximum Maturity Age 60 years (nearest birthday)
Minimum Accident Benefit Sum Assured Rs.10,000
Maximum Accident Benefit Sum Assured: 10 times of Annualized Premium subject to maximum limit of Rs.1 crore.

Further, Accident Benefit Assured shall be in multiples of Rs.5,000/-.

Benefits for LIC Bima plan 835

Benefits Payable on Death

In the event of death of life assured before the date of maturity, the sum payable would be:

  1. On death before commencement of risk

An amount equal to the Policyholder’s fund value immediately on the date of receipt of the intimation of death with death certificate.

  1. On death after commencement of risk

An amount equal to the higher of

  • Basic sum assured (i.e. higher of 10*Annualized Premium or 105% of total premiums paid); or
  • Policyholder’s Fund Value

Benefits Payable on Maturity

If policy holder survives till maturity, an amount equal to the policyholder’s fund value shall be payable.

Surrender of Policy

If all the due premiums have been paid and the policy is surrendered, than the surrender value will  be:

  1. Surrender before expiry of 5 years:

If policyholder surrender the policy before completion of 5 years of lock-in-period than the Policyholder’s Fund Value after deducting the Discontinuance Charge shall be transferred to the Discontinued Policy Fund and shall be paid to the policyholder only after completion of 5 years.

Discontinuance charge:  This charge will be levied by cancelling appropriate number of units out of Policyholder’s Fund as on the date of surrender/date of discontinuance of policy. The discontinuance charge applicable is as under:

Where the policy is discontinued during the policy year Discontinuance charges for the policies having annualized premium up to Rs. 25,000/- Discontinuance charges for the policies having annualized premium above Rs. 25,000/-
1 Lower of 15% * (AP or FV) subject to a maximum of Rs. 2500/- Lower of 6% * (AP or FV) subject to maximum of Rs. 6000/-
2 Lower of 7.5% * (AP or FV) subject to a maximum of Rs. 1750/- Lower of 4% * (AP or FV) subject to maximum of Rs. 5000/-
3 Lower of 5% * (AP or FV) subject to a maximum of Rs. 1250/- Lower of 3% * (AP or FV) subject to maximum of Rs. 4000/-
4 Lower of 3% * (AP or FV) subject to a maximum of Rs. 750/- Lower of 2% * (AP or FV) subject to maximum of Rs. 2000/-
5 and onwards NIL NIL

Discontinued Policy Fund: The investment pattern of the Discontinued Policy Fund shall have the following asset mix:

  • Money market instruments: 0% to 40%
  • Government securities: 60% to 100%
  1. Surrendering after expiry of 5 years

If policyholder surrender the policy after completion of 5 years of lock-in-period than the Policyholder’s Fund Value as on the date of surrender shall be payable.

Other Features of New Endowment Plus Plan 835

  1. Switching of Investment Funds

The policyholder is allowed to switch from one investment fund to another anytime during the policy term. But only 4 switches will be allow for free of charge. Any subsequent switching will a charge of Rs.100/- per switch.

  1. Top-Ups and Increase/Decrease in Benefits

No Top-up premiums or Increase/Decrease in Benefits is allowed in this plan. Only Accident Benefit Rider can be cancelled anytime during the policy term.

  1. Partial Withdrawals

After completing lock-in-period of 5 years, policyholder can go for partial withdraw subject to the following conditions:

  • In case of minor, partial withdrawal will only be allowed after the age of 18 years.
  • Partial Withdrawal may be in form of fixed amount or exact number of units.
  • Partial Withdrawal Charges of Rs.100/- flat will be deducted from the Policyholder’s Fund Value.

यूलिप के किसी भी प्लान में 10 से 11 वर्ष तक कम से कम धैर्य रखकर निवेश किया जाए या एकल प्रीमियम देकर इंतजार किया जाए तो अच्छा ग्रोथ और परिणाम अवश्य आएगा पर जरा सा बाज़ार गिरते ही लोगों का धैर्य जवाब दे जाता है और लोग भागने लगते हैं जिसके चलते भगदड़ मच जाती है…नतीजतन यूलिप प्लान पर ही प्रश्न चिन्ह लगने लगता है। खैर इंश्योरेंस के साथ साथ निवेश के लिए LIC  ये प्लान देकर बीमाधारकों के लिए एल आई सी ने एक अच्छा OPTION दिया है।।

BUY ONLINE LIC'S NEW ENDOWMENT PLUS PLAN

BUY ONLINE LIC’S THIS PLAN

Services that I offer

  • New LIC Policy Quotes and Completion
  • Complete guidance
  • Doorstep Premium Collection Service
  • Personalized Policy Recommendations
  • Renewal / Revival of Lapsed Policies
  • Human Life Value Calculation
  • Life Time Services

FOR MORE INFORMATION PLEASE CONTACT -:

BASPA NAND PANCHOLI

CON.9891009400

        OR

WHATS APP FOR LIC PLAN

WHATS APP FOR LIC PLAN

 

 

 

 

 Email-basupancholi@gmail.com

To know about LIC Plans please visit our website

www.licbestplan.in

Office Address:-25,KG,Marg,Jeevan Prakash Building.

LIC of India,Branch Unit-117.

3rd floor,C.P. New Delhi-110001.


One thought on “LIC Endowment Plus ULIP Plan

  1. ManoJ Kumar

    Nice site which provides all lic’s insurance plans details. Under this site you will search everything about lic’s plan which helps you to invest money in Better plans.

    Reply

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