LIC’s New Endowment Plus (T-835) Features, Premium and Benefit Calculator

New Endowment Plus is a Unit Linked Insurance plan (ULIP) from Life Insurance Corporation Of India which offers investment and insurance in a single plan.

The main advantage of Endowment

plus is the flexibility it offers in choosing the investment options depending on the investment needs and risk appetite of the policy holder.
Investment in the plan can be controlled by the policy holder to some extend as it has four fund options which can be opted at the time of taking the policy. Added advantage is that fund options can be changed even after taking the policy depending on the market changes through switching of funds.

Salient Features

Age at Entry – 90 days to 50 years of Age.
Term available – 10 to 20 years
Insurance Coverage – 10 times of annualised premium

Who can go for New Endowment Plus
New Endowment Plan is generally suitable for young professionals  and salaried class who are looking for high returns, Insurance Coverage and Income tax benefit at a single go.
Income tax benefit is available under this plan under section 80C for the premium paid. A software to calculate your income tax liability can be downloaded from here.
How to enhance returns through Switching of Funds.
If you are good at tracking the changes in stock market, New Endowment Plus is a great plan to earn amazing returns through a feature called Switching which is in built in this scheme.
Strategy advisable is to keep the fund in BOND or SECURED for majority of time and switching to growth when the market is low. You can switch back to bond or secured fund when the stock market is better. Switching fund is free up to four switching in a policy year and subsequent switching will be charged at Rs. 100 per switching.
Read More: Fund Switching Techniques for ULIP Policies.
Fund options available
Four Fund options are available under the plan namely Bond Fund, Secured Fund, Balanced Fund and Growth fund. Risk of investing increases in this order as the investment portion in securities or share market is increasing . At the same time if the policy holder can afford the risk there is a possibility of higher returns also.

Charges applicable to the plan
Premium Allocation Charges

Premium Allocation charge will be deducted from the premium paid by the policy holder as and when premium is paid to the policy. Premium Allocation charge reduces with year and the rate is as follows.

Mortality Charge

Mortality Charge is the cost of Life Insurance cover and this will be taken at the beginning of each policy month by canceling the Policyholder’s Fund Value proportionately.

Accident Benefit Charge

This is the charge deducted cover the cost of Accidental Death Benefit Rider which is optional.

Other Charges

a) Policy administration charge
b) Fund management charge.

Magic Plus Endowment Plus Benefit Calculator.

Endowment Plus Benefit calculator will help you to understand and compare the features of Endowment Plus plan easily. It will give you and idea of the charges deducted from the fund value and the insurance available at a particular point of time. Sample returns are provided based the chosen rate of interest which can be changed in the main menu.
Please remember to enable macros in your excel to make this software work.

How to convert the presentation in to PDF document and share it by email.

Converting the presentation to PDF and sharing through E-mail is also possible with this software. You can learn the method to do so by clicking here.

Download the Endowment Plus Benefit Calculator by clicking here
Anish L J

Anish L J

He is a Finance, Insurance and Software consultant with more than 18 years of experience in these fields. He thoroughly follows developments in insurance and finance. 'Our LIC' ( is his endeavor to provide simple and solid solutions internal and external customers of Life Insurance Corporation of India.

2 thoughts on “LIC’s New Endowment Plus (T-835) Features, Premium and Benefit Calculator

  • G.S.Prakash Rao

    Hi Anish, This is Prakash, Develeopment Officer from Chirala (67D) Branch. I wanted New Endowment Plus Software. I downloaded it but after feeding the data when I am asking for show presentation it is saying that a newer version of software is available in the site but I am not getting the link of it. Can you please send me the link for New Endowment Plus presentation latest software. Thank You.

    • Anish L J

      Hi Prakash, Thank you for your comment. It was actually an error in the software. Thank you for notifying it. I have rectified it. You can download it now from the link provided in the post.
      Thank you.


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