What is LIC New Endowment Plus Plan 835?

LIC New Endowment Plus (UIN: 512L301V01) is a Unit Linked Non-Participating Endowment Assurance Plan offering both insurance cover and market-linked investment growth.

What is the minimum premium for LIC Plan 835?

The minimum annual premium is Rs. 20,000 (Yearly), Rs. 13,000 (Half-Yearly), Rs. 8,000 (Quarterly) and Rs. 3,000 (Monthly via ECS). There is no maximum limit.

What is the policy term for LIC New Endowment Plus?

The policy term ranges from 10 to 20 years. The premium paying term is the same as the policy term.

What is the Basic Sum Assured in LIC Plan 835?

Basic Sum Assured is the higher of (10 × Annualised Premium) or (105% of total premiums paid).

What funds are available under LIC New Endowment Plus?

Four fund options are available: Bond Fund (Low risk), Secured Fund (Lower-Medium risk), Balanced Fund (Medium risk), and Growth Fund (High risk).

What is the maturity benefit of LIC Plan 835?

On maturity, the Policyholder's Fund Value as on the date of maturity is payable.

What is the death benefit under LIC New Endowment Plus?

After risk commencement, the higher of Basic Sum Assured or Policyholder's Fund Value is payable on death. Before risk commencement, only the Fund Value is payable.

What are the tax benefits of LIC Plan 835?

Premiums paid are eligible for deduction under Section 80C of the Income Tax Act. Maturity proceeds may be exempt under Section 10(10D), subject to applicable conditions.

Is there a rider available with LIC New Endowment Plus?

Yes. LIC's Linked Accidental Death Benefit Rider (UIN: 512A211V01) is available as an optional rider at an additional charge of Rs. 0.40 per Rs. 1,000 Accident Benefit Sum Assured per year.

LIC New Endowment Plus Plan 835 Calculator

Q: Can I surrender LIC New Endowment Plus before 5 years?

Yes, but there is a 5-year lock-in period. If surrendered within 5 years, the Fund Value after deducting Discontinuance Charges is moved to a Discontinued Policy Fund and paid out only after 5 years.

About LIC New Endowment Plus Plan 835

Everything you need to know about this popular LIC ULIP endowment plan — in simple Indian finance language

📌 What is LIC New Endowment Plus?

LIC's New Endowment Plus (UIN: 512L301V01) is a Unit Linked Non-Participating Endowment Assurance Plan — in simple words, it is a ULIP plan that combines life insurance cover with market-linked investment growth.

The premium you pay (after deducting charges) is invested into one of four investment funds — Bond, Secured, Balanced or Growth — and the fund value grows based on NAV performance. On maturity, you receive the entire fund value. If death occurs, your family receives the higher of Sum Assured or Fund Value.

This plan is specially designed for people who want a good combination of protection and long-term savings with flexibility to choose their investment style.

✨ Key Benefits

💰

Market-Linked Returns

Your premium grows based on the NAV of your chosen fund. Higher the market performance, higher your maturity value.

🛡️

Life Cover Protection

In case of unfortunate death, your family receives the higher of Basic Sum Assured (10× annual premium) or Fund Value — whichever is more.

📊

4 Fund Choices

Choose from Bond (low risk), Secured (lower-medium), Balanced (medium) or Growth Fund (high risk) based on your risk appetite.

🔄

Fund Switching

Switch between funds 4 times per year free of charge. Subsequent switches at just ₹100 per switch, giving you full flexibility.

💸

Partial Withdrawals

After the 5-year lock-in period, you may make partial withdrawals from your fund, subject to a small charge of ₹100 per withdrawal.

🚗

Optional ADB Rider

Add LIC's Linked Accidental Death Benefit Rider for extra protection at just ₹0.40 per ₹1,000 Accident Benefit Sum Assured per year.

📋 Eligibility Conditions

Minimum Entry Age90 Days (Completed)

Maximum Entry Age50 Years (Nearest Birthday)

Minimum Maturity Age18 Years (Completed)

Maximum Maturity Age60 Years (Nearest Birthday)

Policy Term10 to 20 Years

Premium Paying TermSame as Policy Term

Min. Annual Premium₹20,000 (Yearly)

Maximum PremiumNo Limit

💳 Minimum Premium by Mode

Payment Mode	Minimum Premium	Maximum Premium	Grace Period
Yearly	₹20,000	No Limit	30 Days
Half-Yearly	₹13,000	No Limit	30 Days
Quarterly	₹8,000	No Limit	30 Days
Monthly (ECS)	₹3,000	No Limit	15 Days

🧾 Tax Benefits

Section 80C

Premiums paid towards this policy are eligible for tax deduction under Section 80C of the Income Tax Act, 1961. The maximum deduction limit under 80C is ₹1,50,000 per financial year.

Section 10(10D)

Maturity proceeds may be exempt from income tax under Section 10(10D), subject to applicable conditions and premium-to-sum assured ratio requirements under current tax laws.

Tax benefits are subject to changes in tax laws. Please consult a qualified tax advisor for personalised guidance.

🚪 Surrender & Discontinuance Rules

🔒 Within 5 Years (Lock-in Period)

If surrendered within 5 years, Fund Value after deducting Discontinuance Charges is moved to a Discontinued Policy Fund. Proceeds are paid only at the end of the 5-year lock-in period. No insurance cover during this period.

🔓 After 5 Years

If surrendered after the 5-year lock-in period, the full Policyholder's Fund Value as on the date of surrender is paid immediately. No discontinuance charges apply from Year 5 onwards.

⚠️ Discontinuance Charges (for annual premium ≤ ₹25,000): Year 1: lower of 15% × (AP or FV), max ₹2,500 | Year 2: 7.5%, max ₹1,750 | Year 3: 5%, max ₹1,250 | Year 4: 3%, max ₹750 | Year 5+: NIL

👤 Who Should Buy LIC New Endowment Plus?

💼

Young Working Professionals (25–35 Years)

Those who want market-linked growth with life insurance protection and are comfortable staying invested for 15–20 years.

👨‍👩‍👧

Parents Planning for Children's Future

Invest systematically so that a large corpus is available when the child needs it — for higher education or marriage.

🏠

Goal-Based Long-Term Investors

Those with specific goals like building a house, retirement planning, or wealth creation over a 10–20 year horizon.

⚖️

Moderate Risk Takers

Investors who want equity exposure but also need a guaranteed life cover safety net unlike a pure mutual fund investment.

❓ Frequently Asked Questions

LIC's New Endowment Plus (UIN: 512L301V01) is a Unit Linked Non-Participating Endowment Assurance Plan. It is a ULIP product that invests your premium in market-linked funds while also providing a life insurance cover. It is not a traditional LIC plan — the returns depend on NAV (Net Asset Value) performance.

The minimum annual premium is ₹20,000 if you pay yearly. For half-yearly it is ₹13,000; for quarterly ₹8,000; and for monthly (ECS mode) ₹3,000. There is no upper limit on premiums.

The Basic Sum Assured is the higher of: (10 times the Annualised Premium) or (105% of the total premiums paid till date). For example, if your annual premium is ₹20,000, your Basic Sum Assured will be ₹2,00,000 — which is 10 times the annual premium.

On the date of maturity, you will receive the Policyholder's Fund Value — i.e., the total units accumulated multiplied by the NAV on the maturity date. This is a market-linked amount and depends on fund performance throughout the policy term.

After the Date of Commencement of Risk, on death the nominee receives the higher of: (a) Basic Sum Assured = 10× Annualised Premium or 105% of premiums paid, whichever is more, OR (b) Policyholder's Fund Value. This ensures the family always gets the maximum benefit.

It depends on your risk appetite. If you prefer safety and steady income, choose the Bond Fund (low risk). If you can handle moderate risk for better growth, choose Secured or Balanced Fund. If you want maximum long-term capital growth and can handle ups and downs, choose the Growth Fund. You can also switch between funds during the policy (4 free switches per year).

Yes, but there is a 5-year lock-in period. If you surrender within 5 years, a Discontinuance Charge is deducted and the remaining fund is moved to a Discontinued Policy Fund — you will receive this amount only after the 5-year lock-in period ends. If you surrender after 5 years, you receive the full Fund Value immediately.

Premiums paid are eligible for deduction under Section 80C of the Income Tax Act (up to ₹1.5 lakh per year). Maturity/death proceeds may also be exempt under Section 10(10D), subject to conditions. Tax laws are subject to change, so please consult a tax advisor.

Yes. LIC's Linked Accidental Death Benefit Rider (UIN: 512A211V01) is available as an optional add-on. This rider provides additional life cover in case of accidental death. The charge is ₹0.40 per ₹1,000 Accident Benefit Sum Assured per policy year.

Premium Allocation Charges (PAC) are deducted from each premium before investing in the fund: Year 1 = 7.5%; Years 2 to 5 = 5.0%; Year 6 onwards = 3.0%. The remaining amount after PAC is invested in your chosen fund.

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Plan Type	ULIP Endowment
UIN	512L301V01
Min Entry Age	90 Days
Max Entry Age	50 Years
Maturity Age	18–60 Years
Policy Term	10–20 Years
FMC	0.70% p.a.
Lock-in Period	5 Years

LIC New Endowment PlusPlan 835 Calculator