What are 1 Crore Endowment Plans?

1 Crore Endowment plans are traditional life insurance plans that come with the dual benefit of life protection and savings. These plans offer comprehensive coverage of Rs. 1 Crore and above to the policyholder and help them to become financially independent.

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LIC 1 Crore Endowment Plan- An Overview

1 Crore Endowment plans offered by the Life Insurance Corporation of India are a one-go solution to free you from all your future financial worries. Be it securing your family’s future after your demise, or fulfilling your expensive dreams, you can achieve everything with a 1 Crore Endowment Plan.

LIC 1 Crore Endowment Plans

Plan Name Entry Age Maturity Age Policy Tenure
LIC Bima Jyoti 90 Days-60 years 75 years 15-20 years
LIC Bima Ratna 90 Days-65 years 65 years 15/20/25 years
LIC Dhan Varsha 3-60 years 75 years 10 & 15 years
LIC New Endowment Plan 8-55 years 75 years 12-35 years
LIC New Jeevan Anand 18-50 years 75 years 15-35 years
LIC Single Premium Endowment Plan 90 Days-65 years 75 years 10-25 years
LIC Jeevan Labh 8-59 years 75 years 16/21/25 years
LIC Jeevan Lakshya 18-55 years 65 years 13-25 years

Benefits of Buying LIC 1 Crore Endowment Plans

One can avail of several benefits by buying LIC 1 Crore Endowment plans such as:

  1. Death Benefits 

    You can ensure that your family will get Rs. 1 Crore if something unfortunate happens. The amount received can be utilized by the family to continue living their family independently.

  2. Maturity Benefit

    If the policyholder survives till the policy tenure, he/she will receive a maturity benefit of Rs.1 Crore which can help them to fulfill their financial needs.

  3. Loan Facility Available

    Policyholders can look after their emergency financial needs by availing loan facilities, provided at least two full years’ premiums have been paid.

  4. Tax Benefits

    Premiums paid against LIC 1 Crore endowment plans are eligible for deductions under Section 80C of the Income Tax Act 1961.

Who Should Buy LIC 1 Crore Endowment Plans?

LIC Endowment plans with benefits of Rs. 1 Crore and above are an ideal way of investing your money and ensuring guaranteed returns. These plans are an ideal option for:

  • The individuals who wish to secure their family’s financial needs after their demise

    Being the sole earner of your family, it is your responsibility to ensure that your family has sufficient funds to continue living without compromising their basic needs.

  • The individuals who wish to create a huge corpus for their future objectives

    Buying your dream house, going for a world tour or buying any other luxuries requires lots of money. By investing slowly in the LIC 1 Crore Endowment plan, you can ensure that by the end of the policy tenure, you can fulfill your dreams.

  • The individuals who wish to provide better education opportunities to their kids

    With increasing education facilities, providing quality education to your kids can put a burden on your pocket. Thus, with 1 Crore Endowment plans by LIC, you’ll be prepared to provide the best education to your children.

  • The individuals who wish to secure their post-retirement life

    Post-retirement life can become a challenge if you don't have a proper plan for it. Ensuring that you have enough funds to enjoy your post-retirement life can help you live happily and relaxed.

To Conclude

Buying LIC 1 Crore Endowment Plans is an effective way of securing your and the future of your loved ones. By investing steadily with affordable premiums, you will get guaranteed benefits of Rs. 1 Crore and above. 

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