LIC launches new Ulip

 Endowment Plus is a unit-linked product that offers investment-cum-insurance during the term of the policy. It is available for people aged 7 to 60 years for a policy term between 10 and 20 years. The minimum annual premium is Rs 20,000 for regular modes. Under ECS mode it is Rs 1,750 per month and minimum single premium is Rs 30,000.

The plan offers risk cover of upto 11-30 times of annualised premium or 1.25 times of single premium. Critical illness and accident benefit riders are also other benefits available. It offers four options : Bond Fund, Secured Fund, Balanced Fund and Growth Fund.

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