Plan Details
Launch Date: 01 February 2020Withdrawn Date: 01 January 2025
Plan Type: ULIP (Non-Participating)
Policy Term: 10 to 20 Years
Basic Sum Assured: 10X Annualized Premium
Important Notes
• This is an illustrative calculator. Actual returns may vary based on fund performance.• Premium allocation charges, fund management charges, mortality charges, and other applicable charges are deducted as per LIC policy terms.
• Death benefit is the highest of: Basic Sum Assured, Unit Fund Value, or 105% of total premiums paid.
• Lock-in period: 5 Years. Surrender charges may apply before lock-in completion.
• This plan was withdrawn on 01 January 2025.
When it comes to building long-term savings along with life insurance protection, LIC New Endowment Plus Plan 935 has been considered one of the popular ULIP options offered by the Life Insurance Corporation of India.
Introduction to LIC New Endowment Plus Plan 935
LIC New Endowment Plus Plan 935 is a Unit Linked Insurance Plan (ULIP) introduced by LIC to provide both life insurance coverage and market-linked investment benefits under a single policy. The plan is designed to help policyholders secure their family financially while also creating long-term wealth through investment-linked returns.
LIC New Endowment Plus Plan 935 Launch Date
When Was LIC New Endowment Plus Plan 935 Introduced?
LIC New Endowment Plus Plan 935 (UIN No. 512N301V02) was officially launched on February 1, 2020.
LIC New Endowment Plus Plan 935 Withdrawal Status
Is LIC New Endowment Plus Plan 935 Still Available?
According to the latest available information, LIC withdrew this plan from sale on January 1, 2025. However, existing policyholders continue to receive benefits according to the original policy terms and conditions.
What is a Unit Linked Insurance Plan (ULIP)?
A Unit Linked Insurance Plan, commonly known as ULIP, is a type of life insurance product where a portion of the premium is used to provide life insurance protection while the remaining amount is invested in market-linked funds such as equity funds, debt funds, or balanced funds.
This structure allows policyholders to participate in market growth opportunities while simultaneously enjoying insurance coverage.
LIC New Endowment Plus Plan 935 follows the ULIP model and offers multiple investment fund options suitable for different financial objectives and risk preferences.
Eligibility Criteria for LIC New Endowment Plus Plan 935
What Are the Eligibility Conditions for LIC New Endowment Plus Plan 935?
| Eligibility Factor | Details |
|---|---|
| Minimum Entry Age | 90 days completed |
| Maximum Entry Age | 50 years nearest birthday |
| Minimum Maturity Age | 18 years completed |
| Maximum Maturity Age | 60 years nearest birthday |
| Policy Term | 10 years to 20 years |
| Basic Sum Assured | 10 times the annualized premium |
| Minimum Premium | ₹20,000 yearly |
| ₹13,000 half-yearly | |
| ₹8,000 quarterly | |
| ₹3,000 monthly |
The wide eligibility criteria make LIC New Endowment Plus Plan 935 suitable for both young professionals beginning their financial journey and middle-aged individuals seeking long-term savings along with life insurance protection.
Key Features of LIC New Endowment Plus Plan 935
What Are the Main Features of LIC New Endowment Plus Plan 935?
- Unit-linked insurance plan with multiple investment fund options
- Available fund choices include Bond Fund, Secured Fund, Balanced Fund, and Growth Fund
- Flexible policy term ranging from 10 years to 20 years
- Mandatory 5-year lock-in period for investments
- Premium payment options available on yearly, half-yearly, quarterly, and monthly basis
- Provides both life insurance coverage and market-linked investment growth
- Fund switching facility available during the policy term
- Partial withdrawal option available after completion of lock-in period
- Investment risk is borne by the policyholder since returns depend on market performance
- Grace period of 30 days available for yearly, half-yearly, and quarterly premiums
- Grace period of 15 days available for monthly premium mode
- Surrender value becomes available after payment of minimum premiums for at least three complete years
Benefits of LIC New Endowment Plus Plan 935
What Are the Benefits of LIC New Endowment Plus Plan 935?
Death Benefit
In the unfortunate event of the policyholder’s death during the policy term:
- If death occurs before the commencement of risk, the nominee receives the Unit Fund Value.
- If death occurs after the risk commencement date, the death benefit payable will be the highest of the following:
- Basic Sum Assured after deducting partial withdrawals, if any
- Available Unit Fund Value
- 105% of the total premiums paid minus partial withdrawals
Maturity Benefit
If the policyholder survives until the end of the policy term, the maturity benefit payable will be the Unit Fund Value accumulated based on the performance of the selected investment funds.
Loyalty Additions
LIC may provide loyalty additions or bonus benefits depending on the policy duration and fund performance. These additions are credited to the unit fund during policy continuation or at maturity.
Fund Choice and Switching Facility
Policyholders can select investment funds according to their financial goals and risk appetite.
Available Fund Options
- Bond Fund – Suitable for lower risk preference
- Secured Fund – Moderate risk investment option
- Balanced Fund – Combination of equity and debt investments
- Growth Fund – Equity-oriented option for higher growth potential
The policy also allows fund switching during the policy term without extra switching charges.
How Does LIC New Endowment Plus Plan 935 Work?
Under this plan, the policyholder pays regular premiums throughout the policy duration. A portion of the premium is deducted towards policy charges, while the remaining amount is invested in the selected market-linked funds.
The investment value grows according to market performance over time, while life insurance protection continues during the policy term. At maturity or in case of the policyholder’s death, the applicable policy benefits are paid to the policyholder or nominee.
What is LIC New Endowment Plus Plan 935 Calculator?
LIC provides an online calculator for Plan 935 to help policyholders estimate possible returns and policy benefits more accurately.
How Does LIC New Endowment Plus Plan 935 Calculator Help?
The calculator helps estimate:
- Expected maturity amount
- Estimated death benefits
- Future fund value projections
- Premium allocation details
- Applicable policy charges
Using the calculator allows policyholders to understand potential financial outcomes and compare different investment scenarios before purchasing the plan.
How to Use LIC New Endowment Plus Plan 935 Calculator?
Using the LIC New Endowment Plus Plan 935 Calculator is simple and convenient. To generate estimated returns and policy benefits, you generally need to enter the following details:
- Policy term ranging from 10 years to 20 years
- Premium amount according to your budget
- Age at entry
- Preferred fund option such as Bond Fund, Secured Fund, Balanced Fund, or Growth Fund
- Premium payment frequency including yearly, half-yearly, quarterly, or monthly mode
After entering these details, the calculator displays estimated maturity value and death benefits based on assumed annual return rates, commonly 4% and 8%. These projections help policyholders understand potential returns under both conservative and higher market growth scenarios.
Benefits of Using LIC New Endowment Plus Plan 935 Calculator
Why Should You Use LIC New Endowment Plus Calculator?
- Helps in long-term financial planning with estimated return projections
- Allows comparison between different fund options according to risk preference
- Assists in selecting suitable premium amount and policy tenure
- Provides better understanding of charges such as premium allocation and fund management fees
- Simplifies policy selection with data-based projections and benefit estimates
Premium Payment and Grace Period
Premiums under LIC New Endowment Plus Plan 935 can be paid yearly, half-yearly, quarterly, or monthly through NACH facility.
LIC also provides a grace period for delayed premium payments:
- 30 days grace period for yearly, half-yearly, and quarterly premium modes
- 15 days grace period for monthly premium mode
If the premium is not paid within the grace period, the policy may lapse. However, the policyholder may get an option to revive the policy within the allowed revival period according to policy conditions.
Surrender and Discontinuance Rules
What Happens if Premiums Are Discontinued?
If premiums are not paid within the grace period, the policy moves into a discontinued status.
- If discontinuance occurs before completion of the mandatory 5-year lock-in period, the unit fund value is transferred to a discontinued policy fund and becomes payable after completion of the lock-in period.
- If the policy is discontinued after completion of 5 years, the surrender value may become payable immediately.
The plan also offers options such as policy revival during the revival period or complete withdrawal of accumulated funds after discontinuance.
Example of LIC New Endowment Plus Plan 935 Benefits Calculation
Suppose Rahul, aged 30 years, selects a 20-year policy term and pays an annual premium of ₹30,000 under the Growth Fund option.
Illustrative Benefit Calculation
| Policy Year | Total Premium Paid | Fund Value @4% p.a. | Fund Value @8% p.a. | Death Benefit |
|---|---|---|---|---|
| 5 | ₹1,50,000 | ₹1,46,020 | ₹1,64,220 | ₹3,00,000 |
| 10 | ₹3,00,000 | ₹3,24,522 | ₹4,05,084 | ₹4,05,084 |
| 15 | ₹4,50,000 | ₹5,32,911 | ₹7,44,429 | ₹7,44,429 |
| 20 | ₹6,00,000 | ₹7,75,448 | ₹12,22,058 | ₹12,22,058 |
This example demonstrates how the investment value may grow over time depending on market performance while also highlighting the life insurance protection available under the policy.
Why Choose LIC New Endowment Plus Plan 935?
Main Reasons to Consider LIC New Endowment Plus Plan 935
- Trusted reputation and reliability of LIC
- Combination of life insurance and market-linked investment growth
- Multiple fund choices based on different risk preferences
- Flexibility to switch between funds during the policy term
- Encourages disciplined long-term savings through regular premium payments
- Availability of an online calculator for benefit estimation and financial planning
Additional Important Points About LIC New Endowment Plus Plan 935
- Investment risk under the policy is borne by the policyholder since returns depend on market conditions
- Charges such as premium allocation charges, fund management charges, and mortality charges are applicable and may affect overall returns
- Reading the policy brochure and terms carefully before purchasing is recommended
- Policyholders may be eligible for tax benefits on premiums paid according to prevailing tax laws
Frequently Asked Questions
What is LIC New Endowment Plus Plan 935?
LIC New Endowment Plus Plan 935 is a Unit Linked Insurance Plan (ULIP) that provides life insurance coverage along with investment opportunities in multiple market-linked funds for long-term savings and financial protection.
When Was LIC New Endowment Plus Plan 935 Launched?
The plan was officially launched on February 1, 2020.
Can I Choose Different Funds Under This Plan?
Yes, the plan offers multiple investment fund options including Bond Fund, Secured Fund, Balanced Fund, and Growth Fund. Policyholders can also switch between funds during the policy term.
What Is the Minimum Premium Required for LIC New Endowment Plus Plan 935?
The minimum premium is ₹20,000 yearly or ₹3,000 monthly through NACH mode. Half-yearly and quarterly premium payment options are also available.
Does LIC New Endowment Plus Plan 935 Have a Lock-in Period?
Yes, the plan comes with a mandatory lock-in period of 5 years during which withdrawals are not allowed.
Is There Any Grace Period for Premium Payment?
Yes, a grace period of 30 days is available for yearly, half-yearly, and quarterly premium modes, while monthly premium payments receive a grace period of 15 days.
Conclusion
LIC New Endowment Plus Plan 935 offers a balanced combination of life insurance protection and market-linked investment growth, making it suitable for individuals looking for long-term financial planning and security.
Using the LIC New Endowment Plus Plan 935 Calculator before purchasing the policy can help investors understand estimated returns, maturity value, and insurance benefits more clearly, enabling better financial decision-making.
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