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felix@insurancesuperhub.in
LIC’s New Endowment Plan is a traditional savings-cum-protection plan.
It provides financial security for your family through life cover and a lump-sum maturity benefit at the end of the policy term.
It’s ideal for those who want risk-free savings with life insurance protection.
| Feature | Details |
|---|---|
| Plan Type | Non-linked, Participating, Savings-cum-Protection Plan |
| Premium Payment Mode | Yearly, Half-yearly, Quarterly, or Monthly |
| Policy Term | 12 to 35 years |
| Minimum Entry Age | 8 years (completed) |
| Maximum Entry Age | 55 years |
| Maximum Maturity Age | 75 years |
| Minimum Sum Assured | ₹1,00,000 |
| Maximum Sum Assured | No limit (based on underwriting) |
| Loan Facility | Available after 3 years of premium payment |
| Surrender Value | Available after 3 years |
| Bonus | Eligible for Simple Reversionary Bonus and Final Bonus (as declared by LIC) |
Let’s assume:
You pay ₹25,000 every year for 20 years.
LIC declares annual bonuses, which are added to your policy each year.
At the end of 20 years, you get:
Maturity Amount = Basic Sum Assured + Accrued Bonuses + Final Additional Bonus
Example (approximate):
If total bonuses = ₹2,50,000,
✅ Maturity = ₹7,50,000 (₹5,00,000 + ₹2,50,000)
If the life assured passes away during the policy term:
| Condition | Benefit |
|---|---|
| Before risk commencement (for minors) | Refund of premiums paid (excluding taxes) |
| After risk commencement | Sum Assured on Death + Bonuses (if any) |
Sum Assured on Death = Higher of:
Minimum death benefit = 105% of all premiums paid (excluding taxes)
| Benefit | Description |
|---|---|
| Life Cover | Financial security for family during policy term |
| Savings | Guaranteed maturity with yearly bonus additions |
| Loan Facility | Available after 3 years |
| Tax Benefits | Under Sections 80C (premium) and 10(10D) (returns) |
| Bonus Eligibility | Participates in LIC’s profit-sharing system |
| Flexibility | Choose term and premium mode as per need |
| Particular | Details |
|---|---|
| Age | 30 years |
| Policy Term | 20 years |
| Sum Assured | ₹5,00,000 |
| Annual Premium | ₹25,000 approx. |
| Approx. Maturity Value | ₹7.5 – ₹8 lakh |
| Death Benefit | ₹5 lakh + Bonuses |
✅ Combines protection + savings + guaranteed maturity
✅ Bonus participation adds extra growth
✅ Life cover throughout the policy term
✅ Safe, stable, and backed by LIC’s trust
✅ Flexible premium payment and loan option
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Niva Bupa Health Insurance Company Limited is one of India's leading standalone health insurers (SAHI), headquartered in New Delhi and founded in 2008. The company was formerly known as Max Bupa Health Insurance Company Limited and was rebranded to Niva Bupa in 2021. Niva Bupa offers a wide range of health insurance products for individuals, families, senior citizens, and corporate employees.
