LIC 1 Crore Endowment Plans

LIC 1 Crore Endowment plans are an ideal way of safeguarding the future of your loved ones and providing financial stability to them after your demise. These traditional life insurance plans offer the combined benefit of savings and protection, and are designed to offer comprehensive coverage of Rs. 1 Crore and above to the policyholder and help them to become financially independent. 

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What Are LIC 1 Crore Endowment Plans

LIC of India caters to the insurance needs of every individual by providing LIC 1 Crore Endowment Plans. These plans offer coverage to your family of Rs. 1 Crore and above after your death as a Death Benefit. On the other hand, if you are alive till the end of the policy tenure, you can enjoy Maturity benefits of Rs. 1 Crore, which can be further utilized to fulfill your future objectives.

Best LIC 1 Crore Endowment Plans

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

Why Should You Buy LIC 1 Crore Endowment Plans?

LIC 1 Crore Endowment plans offer the below-mentioned benefits that make it one of the ideal choices for investing your money. Have a look at them:

  • Security after Death

    With LIC Endowment plans, the nominee of the plan will get a death benefit of Rs. 1 Crore, and you can ensure that your family continues living without compromising their basic needs.

  • Fulfilling Future Financial Goals

    By investing in the LIC 1 Crore Endowment plan, you will get a maturity benefit of Rs.1 Crore if you survive till the end of the policy tenure.

  • Security for your post-retirement life

    If you don't have a good strategy for your post-retirement life, living independently after retirement can get difficult. With LIC 1 Crore Endowment Policy, you can save your money effectively for your post-retirement life.

  • Tax Benefits

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

Points to Consider Before Buying 1 Crore LIC Endowment Plans

If you are looking forward to buying LIC 1 Crore Endowment plan then these below pointers should be kept in mind:

  • High Coverage means High Premium

    When you opt for a 1 Crore Endowment Plan, be prepared that the premium you need to pay will be on the higher side. For example, if you are an 18-year-old individual, planning to buy LIC Bima Jyoti with a Premium Paying Term of 15 years, and a Policy Term of 20 years, then the monthly premium you need to pay would be Rs. 68,667

    Thus, before making a decision, analyze your needs properly, and then choose the best Endowment plan for yourself.

  • Customize the right plan according to your needs

    LIC 1 Crore Endowment plans to allow the customers to customize their plan as per their personal needs. One can choose the policy tenure and premium payment frequency at their convenience. Thus, go through the policy brochure thoroughly and then choose your ideal plan.

  • Claim Settlement Ratio of the company

    The Claim Settlement Ratio of the insurance company indicates the number of claims settled by the company during the financial year. The higher CSR of the life insurance company means higher chances of your hassle-free claim settlement. Thus, it is always recommended to check the claim settlement ratio of the company. The CSR of LIC is 98.62% of FY 2020-21, indicating the quick settlement of claims.

Policy Details Of 1 Crore LIC Endowment Plans

  • Free Look Period

    The policyholder has a 15-day free-look period in life insurance during which they may cancel the plan if they are not satisfied with the terms and conditions.

  • Grace Period

    A grace period of 15 to 30 days is given to the policyholder if the premium payment is delayed. The policy will get lapsed if the premiums are not paid during the grace period.

  • Surrender Benefit

    The policy is charged with a surrender value and a paid-up value after the completion of two policy years, which means that even if you stop making premium payments after two years, you will still receive a portion of the premiums and benefits.

How To Buy LIC Plans from Policybazaar?

To buy LIC plans from Policybazaar, follow the below steps:

Step 1: Visit the Life Insurance Corporation of India.

Step 2: Fill the form with your name and contact details.

Step 3: Click on “view plans”

Step 4: Put your dob and residing city

Step 5: Once done, you can check the plans available and customize them as per your needs.


  • Q: Which LIC 1 Crore policy is best?

    Ans: Every LIC policy is different and is designed to cater to every individual’s insurance needs. Thus, before buying, check the plan brochure for detailed information.
  • Q: Do I need to pay extra premiums for my LIC 1 Crore Endowment Plan if I am a chain smoker?

    Ans: Yes, you will have to pay an extra premium for your LIC 1 Crore Endowment plan as compared to that of a non-smoker..
  • Q: Can I avail of loans under LIC Endowment Plans?

    Ans: Yes, one can avail of loans under LIC Endowment Plans up to:
    • For paid-up policies- up to 80%
    • For in-force policies- up to 90%
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