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LIC Endowment Plus Unit Linked Plan


LIC Endowment Plus Unit Linked Plan

LIC Life Insurance CorporationLIC Endowment Plus is a unit linked plan from LIC of India. It was launched in September 2010, according to recent IRDA guidelines. The plan offers its customers investment- cum-insurance option. The level of cover within the limit will depend on the mode and amount of premium one wants to pay. It is on the table No. 802 in the LIC policy info.  This plan from LIC offers you savings, insurance as well as investment all in one.  As claimed by LIC, the risk put forth on the investment is borne by the investors in this particular ULIP plan as well, just like any other ULIPs.

Salient Features of Endowment Plus:

  • Entry age: 7 to 60 years
  • Term: between 10 to 20 years
  • Maturity age: 18 to 70 years
  • Minimum annual premium: Rs. 20,000, maximum annual premium: Rs. 1,00,000
  • Maximum single  premium: Rs. 30,000; maximum single premium: no limit
  • Regular premium for monthly mode (ECS): Rs. 1750
  • Premiums can be paid at yearly, half- yearly, quarterly or monthly (ECS) intervals
  • Premium Allocation charges: 7.5 % in 1st year, 5% from 2nd year to 5th year; 3% from 6th year onwards.
  • Critical illness and accident benefits are optional riders available for extra premium
  • Partial withdrawal allowed after 5 years from policy commencement date
  • Loan facility after 3 years of policy commencement if all previous premiums have been paid
  • Risk cover: 11 to 30 times of annualized premium


  • Benefit payable on death: Nominee is eligible for the Sum Assured or policy holders fund value, whichever is higher
  • Benefit payable on maturity: Policy holder is eligible for fund value
  • Critical illness rider benefit: minimum sum assured is Rs. 50000 and maximum sum assured is Rs. 10,00,000
  • Accident benefit: minimum sum assured is Rs. 25,000 and maximum sum assured is Rs. 50,00,000

The policy holder of LIC Endowment Plus can choose to invest his premiums in one of the four funds: Bond Fund, Secured Fund, Balanced Fund and Growth Fund. Allocation charges are deducted from the premiums and units of the fund chosen are purchased from the remaining amount. Depending on the NAV i.e. net asset value; the unit value increases or decreases.

Switching between funds with this Endowment Plus policy can be done any number of times in year. The first four switches are free of cost but a nominal charge is levied after that.

After three years, policy holder can avail a loan of up to 30% of fund value of the policy holder (if all premiums have been paid). There is also an option to the policy holder to encash fund at regular intervals over a period of 5 years from the maturity date.

If you have any question or need more inputs or looking for details on any plans, policy details and how to make a wise choice and select the best plan
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