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LIC New Endowment Plus Plan (Plan no.835)
This is a Unit Linked Endowment plan offering Investment cum Insurance during the term of the policy
The policy holder can choose from 4 Investment Fund types:
| Eligibility Conditions & Restrictions | ||
|---|---|---|
| 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 |
| SECURED FUND | : |
Investment in Government : Not less than 45% Short-term Investment : 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 |
| 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 & Growth – Medium risk |
| 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 |
| Minimum age | : | 90 days |
| Maximum age | : | 50 years |
| Minimum maturity age | : | 18 years (Completed) |
| Maximum maturity age | : | 60 years |
| Minimum Sum Assured | : | 10 times of Annualized premium |
| Maximum Sum Assured | : | No limit |
| Minimum premium | : |
Rs.20,000 for Yearly Rs.13,000 for Half yearly Rs. 8,000 for Quarterly Rs. 3,000 for Monthly (Thru Bank) |
| Policy term | : | 10 years to 20 years |
| Premium payment | : | Yearly / Half yearly / Quarterly / Monthly (Thru Bank) |
| Loan | : | Not available |
| Surrender | : | Eligible after 5 years |
| On Maturity | : | Fund Value |
| Income Tax Benefits | : |
(i) Premiums paid are eligible for Tax rebate u/s 80c (ii) Maturity amount / Death claim is Non taxable u/s 10(10d) |
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