LIC Endowment Policy General Conditions
Min. age at entryMax. age at entry

Max. maturity age

Minimum Term

Maximum Term

Min. S.A.

Max. S.A.

S.A. in multiples

Modes allowed

Accident Benefit per 1000 S.A.

For Minors

Max. Term.

12 years65 years

75 years

5 years

55  years


Any amount



Rs.1 extra

No Restriction

  • Suitability: Most popular plan for fulfilling all long/short term financial needs.
  • Other Details: (a) Premium to be paid for the full policy term or till policyholder’s death, whichever is earlier.

(b) Female Category I & II allowed, if the proposer is 61 years & above.

  • Maturity Benefit: Bonus+Sum Assured is given. If premium paid is for 15 years or more in addition, Final Addition Bonus is also given.
  • Death Benefit: S.A. + Assured Bonus is given to the nominee. If premium paid is given for 15 years or more final Addition Bonus is also given.
  • EXAMPLE: Mr. Saif an Endowment policy under Table-14 for Rs.1Lakh for 25 years term. He dies due to a disease after 3 yrs. In this case, Mr. Saif’s family/nominee will receive Rs.1, 14,400(Rs.14, 400 being Bonus for 3 yrs at an estimated Rs.48 pre 1000 p.a.). If saif had survival till maturity he would have got Rs.2,70,000 as maturity benefit (Rs.1,20,000being Bonus for 25 yrs at an estimated Rs.48 per 1000 p.a. + FAB @ 500/- per 1000 = 50,000/-)