Endowment Plans


It simply means the plan for life insurance coverage plus savings  which is applicable for specific period of time. Like other plans here also you will get assured sum after maturity and in the case of the death of the policy holder the nominee will be benefited by the sum assured amount.

Here come the best Endowment Plans :


LIC’S New Jeevan Anand Plan is a participating non-linked which offers an attractive combination of protection and savings. This combination provides financial protection against death throughout the lifetime of the policyholder with the provision of payment of lump sum at the end of the selected policy term in case of his/her survival. This plan also take care of liquidity needs through its loan facility.


  1. Death Benefit :

Provided all due premiums have been paid, the following death benefit shall be paid: On death during the policy term : Death benefit , defined the sum of “Sum Assured on Death” and vested Simple Bonuses and Final Additional Bonus, if any , shall be payable. Where, Sum Assured on Death is defined as higher of 125% of Basic Sum Assured or 10 times of annualised premium. This death benefit shall not be less than 105% of all the premiums paid as on the date of death.

The premiums mentioned above exclude service tax, extra premiums and rider premiums, if any. On death of policyholder at any time after policy term : Basic Sum Assured.

Benefits payable at the end of policy term: Basic Sum Assured, along with vested Simple bonuses and Final additional Bonus, if any, shall be payable in lump sum on survival to the end of the policy term provided all due premiums have been paid.

Participation in Profits: The policy shall participated in profits of the corporation and shall be entitled to receive Simple Bonuses declared as per the experience of the Corporation during policy term provided the policy is in full force.

Final ( Additional) Bonus may also be declared under the plan in the year when the policy is in full force and has run for certain minimum term.

  1. Optional Benefit

LIC’s Accidental Death and Disability Benefit Rider: LIC’s Accidental Death and Disability Benefit Rider is available as an optional rider by payment of additional premium during the policy term. In case of accidental death during the policy term, Accident Benefit Sum assured will be payable as lump sum along with the death benefit under the basic plan. In case of accidental permanent disability arising due to accident ( within 180 days from the date of accident), an amount equal to the Accident Benefit Sum Assured will be paid is equal monthly installments spread over 10 years and future premiums for accident benefit sum assured as well as premium for the portion of basic sum assured which is equal to accident benefit sum, assured under the policy, shall be waived.



Jeevan Labh is a limited premium payment endowment insurance plan. This plan is available with two optional riders to provide better protection to policy holder. This Plan is not only best suited for youngsters and tax payers but also provides life cover up to the age of 75 years . However, the premium liability is for limited period only. The minimum term od this policy is 16 where the LIC pays higher bonus rate.

Maturity: At the end of policy term policy holder will get Basic Sum Assured with Total vested revisionary bonus and Final Additional Bonus ( as applicable).

Risk Cover: Will start immediately from the policy start date and always higher of 105% of the total premium paid or “10 times of annualized premium plus vested bonuses and FAB ( As applicable) ” suring the policy term.

Flexibility: This plan has a flexibility to choose the following options :

  • Policy Term : 16, 21 & 25 Years
  • Mode : Yearly, Half yearly, Quarterly and Monthly ( ECS or through salary deductions)

Basic Eligibility Criteria: This plan has following eligibility conditions:

  • Sum Assured: Minimum 2,00,000 in multiple of 10,000 where no upper limit ( Subject to satisfying underwriting requirements)
  • Age & Policy Term  : In the table PPT  stands for  Premium Paying  Term.

Other Features:

  • Grace Period: 30 days for other than Monthly Mode 15 days for monthly ( ECS ) Mode.
  • Loan: Allowed ( after 3 fill year’s premium payment) will be 90% of surrender value for in force policies and 80% for paid-up policies.
  • Surrender: Allowed ( after 3 full years premium payment)
  • Revival: Policy can be revived within 2 years from the date of FUP or before the maturity which is earlier.
  • Back Dating: Allowed ( within is same F.Y ) free cost within 1 month, in case of DOC, in lean months that in excess of 3 months.
  • Suicide: In case of suicide within 12 months from the data of commencement or date of revival, only 80% of paid premium excluding riders, extra premium and taxes will be paid.

Tax Benefits: Policy holder can avail income tax benefits u/s 80C of I.T Act for the premiums paid and all maturity proceeds will be tax free u/s 10(10D) of I.T Act.



Jeevan Rakshak is regular premium paying Non-Linked, With-Profits, Endowment Assurance plan. This plan shall be available to standard lives only under non-medical limit and the total sun assured under all the policies issued to an individual under this plan shall not exceed Rs. 2 lakhs.


Death Benefit:

On death of the life Assured during the policy term ” Sum Assured on Death” shall be payable, which is the highest of:

  • Basic Sum Assured ; or
  • 10 times of annualized premium; or
  • 105% pf all the premiums paid as on date of death.

The premium mentioned above excludes taxes, extra premium and rider premiums, if any. In addition to the above, Loyalty Addition, If any, shall also be payable if death occurs after completion of 5th policy year.

Maturity Benefit:

On survival to the end of the policy term Basic Sum Assured along with Loyalty Addition, If any, Shall be payable.

Participation In Profits:

Provided the policy is in full force , then depending upon the corporation’s experience the policies under this plan will be eligible for Loyalty Addition. The Loyalty Addition, If any , is payable at such rate and so such terms as may be declared by the corporation on death after completion of 5th year or on policy holder surviving to the maturity.

LIC’s Accidental Death and Disability Benefit Rider: LIC’s accident Benefit Rider is available as an optional rider by payment.

Optional Benefit:

LIC’S Accident Benefit Rider is available as an optional rider by payment of additional premium during the term of policy. If there be more than one policy with which this or any other Rider covering Accidental Deaths is attached and if the total Accident Benefit Sum Assured.



Term        Age                 Sum Assured
Minimum         45        90 days                200000
Maximum      100       55 years               No Limit

Premium Ceasing Age: 70 Years                                     Premium Ceasing Term: 45


Features: –
1) Whole life assurance plan with 8% as a Survival Benefit after premium paying term.
2) Risk cover to life assured to the extent of 10 times of annualized premium OR Sum Assured on
Maturity OR Absolute amount assured to be paid on death, i.e. Basic Sum Assured.
3) Limited Premium Payment Plan
4) Policy Term equal to 100 – age at entry of policy holder.
5) Options to choose Premium payment frequency from 15, 20, 25 and 30
6) ADDBR OR DAB rider, Term Assurance Rider and Critical Illness rider available for enhanced
7) Income tax savings on Premiums Paid
8) With Profit plan with Reversionary Bonus and FAB
9) Customize Tax Free maturity.
10) Liquidity is available after 3 full years premium payment.

Benefits: –
Death Benefit: – Risk cover to life assured to the extent of 10 times of annualized premium OR Sum
Assured on Maturity OR Absolute amount assured to be paid on death, i.e. Basic Sum Assured.
Survival Benefit: 8% of Basic Sum Assured after premium paying term.
Maturity: Basic Sum Assured Plus Vested bonus plus F.A.B. (if any)

Other Features: –
Mode of Premium Payment: Yearly, Half Yearly, Quarterly and Monthly (Only NACH or SSS)
Discount and Rebates: Mode Rebate for Yearly -2% and Half Yearly -1% of basic premium is available
and High Sum Assured Rebate as
upto 4,75,000 Lac NIL.
5,00,000 to 9,75,000 Rs. 1.25 per 1000 S.A.
10,00,000 to 24,75,000 Rs. 1.75 per 1000 S.A.
25,00,000 to Max. S.A. Rs. 2.00 per 1000 S.A.

Surrender: S. V. is available after 3 full year’s premium payment. Surrender value will be higher of GSV
or SSV.
Loan: After 3 full year premiums payment, 90% of S.V. for In-force Policies and 80% of S.V. for Paid-up
Back Dating: The policies can be back dated within the same financial year.
Free Lookup: 15 days free lookup period.
Proposal Form: Revised Proposal Form No. 300, 340 and 360 shall be used under this plan.