LIC's New Endowment Plus is a unit-linked, non-participating life insurance plan that provides the dual benefit of investment and life protection. This plan ensures financial security for the policyholder's family in case of an unfortunate death during the policy term while offering the potential for wealth creation through market-linked returns. The New Endowment Plus plan helps in systematic financial planning by allowing the policyholder to invest in various fund options based on their risk appetite, along with the added advantage of life cover.
Life Protection and Wealth Creation
New Endowment Plus offers life insurance protection along with the opportunity to invest in various fund options based on the policyholder's risk appetite. In case of the policyholder's death during the policy term, the nominee receives a lump sum amount, ensuring financial stability. Additionally, the plan helps in creating wealth through investment in equity and debt funds.
Flexible Premium Payment
New Endowment Plus offers flexible premium payment options, allowing policyholders to choose a payment frequency that suits their financial situation. This flexibility ensures disciplined savings while enjoying life cover and investment benefits.
Maturity Benefits and Investment Returns
Upon maturity, the policyholder receives the sum assured along with the accumulated fund value, which is dependent on the performance of the chosen investment funds. This plan not only provides life cover but also offers the potential for higher returns through market-linked investments.
Investment Options and Fund Management
New Endowment Plus offers various fund options, including equity, debt, and balanced funds. Policyholders can choose to invest in these funds based on their risk appetite, and the fund manager actively manages the investments to maximize returns while ensuring safety.
Customer Service and Online Support
LIC provides comprehensive online support for New Endowment Plus policyholders, including premium payment services, fund tracking, policy updates, and service requests. LIC's customer service ensures seamless access to all policy-related information and assistance.