LIC’s New Endowment Plan

LIC’s New Endowment Plan (UIN: 512N277V02)

A Non-linked, Participating, Individual, Life Assurance saving plan

LIC’s New Endowment Plan combines protection and savings, providing financial support for the family in case of the policyholder’s death before maturity, and a lump sum amount for the surviving policyholders at maturity. The plan also offers liquidity through a loan facility.

Key Benefits:

  1. Death Benefit:
    • In case of death during the policy term, the Death Benefit includes “Sum Assured on Death” along with vested Simple Reversionary Bonuses and Final Additional Bonus (if any).
    • “Sum Assured on Death” is the higher of the Basic Sum Assured or 7 times the annualized premium.
    • The death benefit is at least 105% of total premiums paid (excluding taxes and extra premiums).
  2. Maturity Benefit:
    • On survival through the policy term, the policyholder receives “Sum Assured on Maturity” along with vested Simple Reversionary Bonuses and Final Additional Bonus (if any).
    • “Sum Assured on Maturity” is equal to the Basic Sum Assured.
  3. Participation in Profits:
    • The policy participates in the profits of the Corporation and is eligible for Simple Reversionary Bonuses. A Final Additional Bonus may also be declared.

Eligibility and Restrictions:

  • Minimum Basic Sum Assured: ₹100,000
  • Maximum Basic Sum Assured: No limit (in multiples of ₹5,000)
  • Minimum Age at Entry: 8 years (completed)
  • Maximum Age at Entry: 55 years (nearer birthday)
  • Maximum Maturity Age: 75 years (nearer birthday)
  • Policy Term: 12 to 35 years

Commencement of Risk:

The risk under the plan commences immediately on acceptance of the risk.

Additional Options:

  1. Rider Benefits:
    • LIC’s Accidental Death and Disability Benefit Rider
    • LIC’s Accident Benefit Rider
    • LIC’s New Term Assurance Rider
    • LIC’s New Critical Illness Benefit Rider
    • LIC’s Premium Waiver Benefit Rider
  2. Death Benefit in Instalments:
    • Option to receive death benefits in instalments over 5, 10, or 15 years instead of a lump sum.

Payment of Premiums:

Premiums can be paid yearly, half-yearly, quarterly, or monthly (through NACH only) or via salary deductions.

Grace Period:

30 days for yearly, half-yearly, or quarterly premiums and 15 days for monthly premiums.


A lapsed policy can be revived within 5 years from the date of the first unpaid premium and before maturity.

Sample illustrative Premiums for Basic Sum Assured of ₹1 Lakh:

Age15 years25 years35 years


  • Mode Rebate:
    • Yearly: 2% of Tabular Premium
    • Half-yearly: 1% of Tabular Premium
  • High Sum Assured Rebate:
    • ₹2,00,000 to ₹4,95,000: 2% of B.S.A.
    • ₹5,00,000 and above: 3% of B.S.A.

For more details, please visit LIC’s official website or contact your nearest LIC branch.