Plan 802

LIC’s ENDOWMENT
PLUS
TABLE NO 802
LIC’S ENDOWMENT PLUS (T-802)
• Unit Linked Endowment plan.
• Loan after 3 years from commencement.
• Partial Withdrawal after 5 years from
commencement.
• Plan can be availed on the life of a child,
from the age of 7 years.
• Accident Benefit Rider.
• Critical Illness Rider.
LIC’s ENDOWMENT PLUS (T-802)
• Benefits on Maturity:
Fund Value
• Death Benefits:
Higher of Sum Assured under
the Basic Plan and the
Policyholder’s Fund Value.
ELIGIBILITY CONDITIONS : LIC’s ENDOWMENT PLUS (T-802)
Age at entry 7 to 60 years
Age at Maturity 18 to 70 years
Policy term 10 to 20 years
Mode Regular Monthly (ECS) Single Premium
Premium Minimum 20,000 pa 1,750 pm 30,000
Maximum 1 lac p.a. 1lac p.a. No limit
Top-up Top-up premium not allowed.
Regular Premium Single Premium
(Policy Term + 1) x Annual Age at entry
Minimum Premium < 45 yrs >= 45 yrs
Sum Assured
1.25 x SP 1.10 x SP
Maximum Age at entry Age at Maturity
Upto 45 46 to 60 yrs Upto 65 yrs 66 to 70 yrs
Note: SA shall be 30 x AP 25 x AP Upto 55 56 to 60 yrs
in multiples of yrs( +CIR) (+CIR)
5000/-
5 x SP 3 x SP
Eligibility conditions for Riders-LIC’s ENDOWMENT PLUS (T - 802)
Accident Benefit Rider
Sum Minimum Rs. 25,000
Assured
Maximum Shall not exceed SA under basic plan and limited
to Rs. 50,00,000 for all existing and proposal
stage policies of Life Insurance and Group
insurance.
Critical Illness Rider
Sum Minimum Rs. 50,000
Assured
Maximum Shall not exceed SA under basic plan and limited
to Rs. 10,00,000 for all existing and proposal stage
policies of Life Insurance.
Age at entry 18 to 50 years
Age at Maturity 60 years
LIC’s ENDOWMENT PLUS
– for Minors
• Risk Commences immediately.
• Loans allowed after completion of 18
years of age.
• From policy anniversary after completion
of 18 years of age-
- Riders may be availed
- Partial Withdrawals possible
LIC’s Endowment Plus (T 802) - Benefit Illustration
LIC’s Endowment Plus ( T 802) – Benefit

Illustration
Age – 20 Years Term – 20 Years
Premium – 20000 Yly Sum Assured - 420000
Fund type – Bond BI- At Maturity
Fund
Assuming Gross Rate of Interest
6% 10%
665438/- 1066363/-
LIC’S ENDOWMENT PLUS (T 802) - INVESTMENT FUND
TYPES:
Fund Investment in Short-term Investment in Listed Details and
Type Government / investments Equity objective of the
Government such as money Shares fund for risk /
Guaranteed market return
Securities / instruments
Corporate
Debt
Bond Not less than Not more than Nil Low risk
Fund 60% 40%
Secured Not less than Not more than Not less than 15% & Steady Income –
Fund 45% 40% Not more than 55% Lower to Medium
risk
Balance Not less than Not more than Not less than 30% & Balanced Income
d Fund 30% 40% Not more than 70% and growth –
Medium risk
Growth Not less than Not more than Not less than 40% & Long term Capital
Fund 20% 40% Not more than 80% growth – High risk
LIC’s ENDOWMENT PLUS (T 802)- Other
Features
Four Free switches ever year.
No limit on no. of switches.
LOANS:
• Can be availed after completion of three years and
provided all due premiums have been paid.
• Loan will be to the extent of 30 % of the

Policyholder’s Fund value.
• Presently rate of interest is 9% compounding half-

yearly.
LIC’s ENDOWMENT PLUS (T 802)- Other
Features
PARTIAL WITHDRAWALS:
• Allowed after completion of 5 years.
• Regular Premium: Allowed for maximum amount above two
annualized premiums in the Policyholder’s Fund Value.
• Single Premium: Allowed upto 75% of the single premium.
• Withdrawal can be in fixed no. of Units or fixed amount.
• Sum Assured shall be treated for full amount after 2 years
from the date of withdrawal.
• Partial Withdrawal shall be allowed if there is no outstanding
loan under the policy.
SETTLEMENT OPTION: The units held in Policyholder’s

Fund shall be en-cashed in regular intervals spread over a
period of not more than five years from the date of maturity.
Endowment Plus – Other features
• Withdrawal before 5 years: Monetary Value is
calculated on the date of termination. The
amount so calculated will earn minimum
interest @ 3.5% p.a. from date of withdrawal
to completion of 5 years and will be paid on
completion of 5 years from the date of
commencement.
• Withdrawal after 5 years : Fund Value is

payable.
LIC’s Endowment Plus – Other
features
• If premiums are not paid within days of
grace life assured has to exercise option
to (i) Revive the policy or
(ii) Withdraw the policy.
• Revival: Payment of Arrears of premium
without Interest.
• Withdrawal : Fund Value. No
discontinuance charges apply after 4
years from commencement.
LIC’s ENDOWMENT PLUS (T 802) - CHARGES
Regular Premium Single Premium
Year Charge 3.3%

Premium Allocation
Charge 1st 7.50%
2nd to 5th 5.00%
Thereafter 3.00%
Rs.30/-pm during the first policy year and Rs. 30/-
Policy Administration Charge
pm escalating at the rate of 3% pa.
0.50% Bond Fund
0.60% Secured Fund
Fund Management Charge
0.70% Balanced Fund
0.80% Growth Fund
Switching Charge 4 switches free . Rs. 100 thereafter
Miscellaneous charge In event of alteration Rs. 50/-
Mortality Charge Will be recovered every month at specified rates
Critical illness Charge Age specific
Accident Benefit Charge 0.50 Per thousand AB Sum Assured p.a.
ENDOWMENT PLUS: DICONTINUANCE
CHARGES
Discontinu
ance Year Annualized premium up to Annualized premium above `
Rs. 25,000/- Rs.25,000/-
Lower of Maximum Lower of Maximum

Annualised Annualised
Premium or Premium or FV
Fund Value
1 10% 2500/- 6% 6000/-
2 7% 1750/- 4% 5000/-
3 5% 1250/- 3% 4000/-
4 3% 750/- 2% 2000/-
5 year & NIL NIL NIL NIL
more
LIC’s ENDOWMENT PLUS (T – 802)
- other features
• Mortality charges shall be deducted only if, the Basic Sum
Assured is more than the Fund Value of the units .
• Top-up: No Top-up shall be allowed under the plan.
• Premium Waiver Benefit (PWB):

No PWB will be allowed under this plan
• COMPULSORY TERMINATION:
If the balance in the Policyholder’s Fund Value, at any time is not
sufficient to recover the relevant charges, in case of partial
withdrawal of units after the fifth policy anniversary, or less than or
equal to the loan outstanding along with interest thereon, if any loan
has been taken under the policy,the policy shall compulsorily be
terminated and the balance amount in the Policyholder’s Fund Value,
if any, shall be refunded to the policyholder.
LIC’s ENDOWMENT PLUS
(T 802)
• Minimum Risk Cover Guaranteed.
• Easy liquidity – Loan available after 3 years &
Partial Withdrawal after 5 years.
• Low charges.
• Prudent Fund Managers to fetch you best
returns of the Market.

Plan 802

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LIC’s ENDOWMENT

LIC’s Endowment Plus ( T 802) – Benefit

• Loan will be to the extent of 30 % of the

• Presently rate of interest is 9% compounding half-

SETTLEMENT OPTION: The units held in Policyholder’s

• Withdrawal after 5 years : Fund Value is

Year Charge 3.3%

Lower of Maximum Lower of Maximum

• Top-up: No Top-up shall be allowed under the plan.

• Premium Waiver Benefit (PWB):

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