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LIC Endowment Plus
LIC’s Endowment Plus (Table No.802) is a unit linked insurance 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. If the Life Insured dies within the policy tenure, the nominee would receive the Sum Assured or the Fund Value, whichever is higher.
FEATURES:
  • A unique Unit Linked Endowment Plan with Investment cum Insurance.
  • 4 Types of Investment Funds.
  • Plan can be availed on the life of a child, from the age of 7 years.
  • Mortality charges will not be deducted if Fund Value is greater than BASIC SUM ASSURED.
  • Minimum Risk Cover Guaranteed.
  • LOAN AVAILABLE after 3 years.
  • Full/Partial Withdrawal after 5 years.
  • Low Fund Management Charges.
  • Surrender/Assignment Allowed.
Benefits:
Maturity: On maturity the policy holder will receive an amount equal to the his Fund Value.
Death: Sum Assured or Policyholders Fund Value whichever is higher.
Critical Illness Rider Benefit & Accident Rider Benefit are available in this plan.

ELIGIBLITY CONDITIONS:
Min. Age: 7 yrs
Max. Age: 60 Yrs
Min. Maturity: 18 Yrs (Completed)
Policy Term: 10 to 20 yrs.
Minimum Premium:
Regular Premium: Rs. 20,000/- p.a
Monthly (ECS): Rs. 1.750/- p.m
Single Premium: Rs. 30,000/- (One time Investment)

Maximum Premium:
Regular premium: Rs. 1,00,000 p.a.
Single premium: No Limit
Mode of Payment: Yearly, Half Yearly, Quaterly, ECS & Single Allowed.

Allocation Charges:
Single Premium- 3.3%
Regular Premium
1st Yr - 7.5%
2-5 Yr - 5.0%
Thereafter 3.0%

LOANS:
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.

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