• LIC's New Endowment Plus Plan

     0.0 / 5.0   by 0 users
    Used this product? Write a review >>

    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    The New Endowment Plus plan by LIC is a unit-linked endowment plan that offers investment-cum-insurance cover during the term of the policy. The plan is specifically customized to offer a combination of long-term savings and protection, with a greater flexibility of investing.

    Eligibility Criteria for LIC’s New Endowment Plus

    In order to be eligible for the New Endowment Plus policy, an individual needs to fulfill the following criteria:

    Minimum age at entry 7 years (age at the last birthday)
    Maximum age at entry 60 years (age nearer birthday)
    Minimum maturity age 18 years (completed)
    Maximum maturity age 70 years (age nearer birthday)

    Key Features of LIC’s New Endowment Plus

    The New Endowment Plus insurance plan offered by LIC has a number of attractive features.

    Parameters Minimum Maximum
    Policy term 10 years 20 years
    Regular premium: Monthly ECS mode Other modes   Rs 1,750 per month Rs 20,000 per annum   Rs 100,000
    Single premium Rs 30,000 No limit
    Sum assured Regular premium: (Policy term +1) times the annual premium Regular premium: 30 times of the annualized premium if age at entry is upto 45 years. 25 times of the annualized premium if age at entry is 46 to 60 years.
      Single Premium: For age at entry of below 45 years: 1.25 times of the single premium For age at entry of 45 years and above: 1.10 times of the single premium Single Premium: Critical Illness Benefit Rider:
    • 5 times the Single premium if age at maturity is upto 55 years.
    • 3 times the Single premium if age at maturity is 56 to 60 years.
    No Critical Illness Benefit Rider:
    • 5 times the Single premium if age at maturity is upto 65 years.
    • 3 times the Single premium if age at maturity is 66 to 70 years.

    Benefits of LIC’s New Endowment Plus

    The benefits of LIC’s New Endowment Plus insurance policy are listed below:

    • The policyholder can opt from one of the four funds - bond, secured, balanced, and growth - for investing.
    • The New Endowment Plus plan has maturity benefit where an amount equal to the fund value is paid to the policyholder on maturity of the plan.
    • The policy comes with a death benefit, which can be availed by the nominee in case of the death of the life insured before the stipulated date of maturity. Fund value’s equal amount is paid in case the policyholder dies before the commencement of the risk.
    • An amount equal to the higher of the policyholder’s fund value or basic sum assured will be paid on the policyholder’s death after the commencement of the risk. Where, Basic Sum Assured is (10 * Annualized Premium) or (105% of the total premiums paid), whichever is higher.

    How LIC’s New Endowment Plus Works

    Mr. Kumar, aged 20 years, purchases a policy under the New Endowment Plus for a sum assured of Rs 4,00,000. This plan has a single premium payment term of Rs 20,000 for a tenure of 20 years. In the middle of the policy term, Mr Kumar meets with an accident and passes away. His nominee is paid Rs 4,20,000 as sum assured.

    Premium Payment

    The policyholder can pay premiums on a monthly, quarterly, half-yearly or yearly basis (through ECS mode only) over the policy’s term. Single premiums can also be paid. There will be a grace period of 30 days for paying quarter, semi-annual, and annual premiums. For monthly premium (through ECS) a grace period of 15 days can be availed.

    Riders

    Linked Accidental Death Benefit Rider can be availed by the policyholder.

    This Insurance Company has not partnered with BankBazaar.com. For more details, please visit its website/branch office. The trademarks, logos and other subject matters of intellectual property belong to their respective owners.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    LIC's New Endowment Plus Plan Reviews

  • Page 1 of 50 1 2 3 4 5
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have taken life insurance from LIFE INSURANCE CORPORATION OF INDIA and the yearly premium is 30000. The total maturity period is for 20 years. After the maturity period i will get the sum assured and the interest. I mostly do cash payment.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 14 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 3 months by cash and i am convenient with the payment options. The maturity period for this policy is after 23 years.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Better"
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Life Insurance Corporation of India. I would like to say that the customer service is fine one for me and the response is also good, also its not necessary. Plan benefits are less with them.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I took this life insurance jeevan policy from Lic insurance company mainly because of the good returns. The tenure period is 20 where the policy covers till 60 years . Am doing my payment yearly through on-line banking this policy covers accidental benefits and critical illnesses .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I took life insurance jeevan policy from Lic insurance company mainly because of the good returns, its 20 years of tenure period , the payment am doing through on-line monthly . There customer service and customer response is good .This policy covers accidental and critical illness coverage .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance Money back policy from Life insurance Corporation of India. Am satisfied with the premium amount of Rs 7000 which has the tenure period of 20 years . There customer service and response is good. Overall am satisfied with the policy.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jun 19, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the LIC. It offers Accidental and Life coverage in one policy . I pay a premium of Premium 4900 per year. I make payments via Cheque and online LIC website. I never faced any issue with the policy so far. Overall ti has been a good experience with their services.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've an insurance policy with the LIC. I make payments via the LIC website . I also got loans out of the policy for 60000 and the whole process of loan application was quick and got the loan amount with in 3 working days. Overall it has been a smooth experience with the LIC policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the LIC. The tenure of the policy is 20 years. I am paying the premium of quarterly 5000. The sum assured is 1 lac. The payment options are also smooth. I never had any issues with their services. LIC is a recommendable insurance provider.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the LIC. I have been using their services for a while. It is too easy to make payments and never faced any issues with the policy so far. Being a government company the security for your investment is certainly there with the LIC and it is a recommendable insurance provider.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the LIC. Their service is great, I make payments via LIC website. I have paid a lump-sum premium of 70000 and I never faced any issues with their services. Their new payment platform is also very useful and intuitive.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Average policy"
      0.5 3.0/5 "Satisfactory"
      I have taken Life insurance Money back from life insurance corporation of India . Am not satisfied with the premium amount which am paying . Their customer service and response is good . They did quick documentation. It has good returns with good benefits.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance jeevan policy from Life insurance corporation of India . This policy covers with accidental coverage and critical illness coverage . This is good policy with good benefits . Overall am satisfied with customer service and response . I have choose tenure period of 20 years and make the payment yearly through on-line net banking.
      Was this review helpful? 0
      , noida
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 10-12 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 6 months through direct payment and i am convenient with the payment options. The name of this policy is Jeevan anand and the maturity period is after 15 years.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "LIC is old company with new services"
      0.5 5.0/5 "Blown Away!"
      I'm regularly paying the premium. I came to know about the policy through agent. I use to payment through net banking. I will get the sum assured amount of Rs. 50 Lakhs. I use to pay the premium amount of Rs. 16000. I have opted for the premium yearly once.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 2 years and it is a long term policy. The tenure for this policy is 15 years. I pay my premium once in 6 months through net banking and i am convenient with the payment options. I am happy with the returns and benefits of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "They have to change the agent for their policies. "
      0.5 1.0/5 "Really Bad"
      I don't find any offers from LIC. I did not paid the premium properly. I never called up the LIC customer care services. They committed many benefits when i take the policy from them. But they did not provide anything after that. I have paid only one premium with the amount of Rs. 5000 for my pension policy. I don't remember the benefits of the policy now. Agent who works in LIC makes lots of people fool.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good policy to take"
      0.5 5.0/5 "Blown Away!"
      It is very old policy. I have taken the policy 8 years back. I'm paying the premium six month once. I don't remember the sum assured amount and all. Death Coverage, Risk Coverage is available. Every 5 years i will get some money from them. Once the tenure is over, i will get the whole money. Tenure period of this policy is 15 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.5/5 "Excellent!"
      I've been using the Jeevan Anand policy for a while. I am paying the premium of 25000 per year, it offers coverage for me and wife. The tenure is 15 years and I make payments via agent. Overall I never faced any issues with their services. The branch services are also good.
      Was this review helpful? 0
      , thane
      Reviewed on Jun 18, 2018
    • LIC Life Insurance
      "BEST"
      0.5 5.0/5 "Blown Away!"
      I am having a plan called MONEYBACK from the LIC. I am holding it since 14 years. It is a short term of 15 years. The documents i have done physically. I had got no loan from my insurance. I am getting the money back in the 5th year. I would be getting the 3 lakhs as the summer shot.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 17, 2018
    Common Loader Icon
    Page 1 of 50 1 2 3 4 5
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.