Endowment Plus Policy


Endowment Plus Policy


LIC’s Endowment Plus (Table No.802) is a unit linked Endowment plan which offers investment-cum-insurance during the term of the policy.You can choose the level of cover within the limits, which will depend on mode and amount of premium you want to pay.LIC Endowment Plus plan features at glance:

  • Critical Illness Benefit
  • Accident Benefit
  • Partial withdrawals
  • Loan on policy


a) Benefits payable on death:
In case of death of the policyholder when the cover is in full force, the nominee shall be
eligible to get higher of Sum Assured under the Basic Plan and the Policyholder’s Fund Value
as at the date of booking the liability. The liability shall be booked after receipt of intimation
along with death certificate.

b) Benefits payable on maturity:
On maturity the policy holder will receive an amount equal to the his Fund Value.
Accident Benefit Rider Option:
Accident Benefit (AB) can be availed of as an optional Rider benefit by paying an additional premium of Rs.0.50 for every Rs.1,000/-
The Policyholder will have the option to choose any 1 of the below 4 Funds:

  • Bond Fund, 2. Secured Fund, 3. Balanced Fund, 4. Growth Fund


Regular premium can be paid either in yearly, half yearly, quarterly or monthly (ECS) installments.Min. premium Rs. 20,000/- yearly or Rs.1750 per month by ECS mode.
Single Premium is also allowed under LIC Endowment Plus plan. Minimum onetime Investment Rs.30,000/-

Eligibility and other conditions for LIC Endowment plus Table No. 802:

For Basic Plan

a) Minimum Basic Sum Assured:
Regular Premium policies: (Policy Term +1) times the annualised premium
Single Premium:
For age at entry below 45 years: 1.25 times the single premium
For age at entry 45 years and above: 1.10 times the single premium

b) Maximum Basic Sum Assured:
Regular Premium policies:
30 times the annualized premium, if age at entry is upto 45 years
25 times the annualized premium, if age at entry is 46 to 60 years
Single Premium Policies:
If Critical Illness Benefit Rider is not opted for:
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.
If Critical Illness Benefit Rider is opted for:
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.

c) Minimum Premium:
Regular premium (other than monthly (ECS) mode): Rs. 20,000 yearly
Regular premium (for monthly (ECS) mode): Rs. 1,750 p.m.
Single premium: Rs. 30,000

d) Maximum Premium:
Regular premium: Rs. 1,00,000 p.a.
Single premium: No Limit
Annualized Premiums and single premium shall be payable in multiple of Rs. 1,000 for
other than ECS monthly. For monthly (ECS), the premium shall be in multiples of Rs. 250/-
e) Minimum Entry Age: 7 years last birthday
f) Maximum Entry Age: 60 years nearest birthday
g) Policy Term : 10 to 20 years
h) Minimum Maturity Age: 18 years completed
i) Maximum Maturity Age: 70 years nearest birthday
Age at entry for the policyholder is to be taken as age nearest birthday except for the
minimum age at entry i.e. 7 years.

Fund Switching: Within a given policy year, 4 switches will be allowed free of charge.Top-up Premium: Not allowed.

Partial withdrawals: A policyholder can partially withdraw the units at any time after the fifth policy anniversary and provided all due premiums till date of partial withdrawal have been paid.

Loan will be available under this plan subject to the following conditions:
• Loan will be granted under the policy after completion of three years and provided all due premiums have been paid.
• Policy Loan will be available to the extent of 30 % of the Policyholder’s Fund value.
• No Partial Withdrawal will be allowed if any loan is outstanding.
• If the Fund Value at any time is less than or equal to the loan outstanding along with interest thereon, the policy will be compulsorily terminated.
The rate of interest charged for this loan amount would be determined from time to time by LIC. Presently the rate of interest is 9 % p.a. payable half-yearly.

5 Comments on "Endowment Plus Policy"

  1. Mohd Arif
    Policy no.219022621
    plz give my policy current status

  2. Dear sir my policy no is 539367350 & 539367351 please give my current status

  3. Dear sir,
    My policy no is 53936735, please give my current status??? Please sir

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