LIC New Endowment Plus Plan 835 Calculator: Fund Value, Charges & Benefits

What is LIC New Endowment Plus Plan 835?

LIC New Endowment Plus Plan 835 is a unit-linked, non-participating life insurance plan. Part of every premium buys units in a market-linked fund of your choice, and the policy also carries life cover. There are no bonuses. What you get back depends entirely on how your fund performs and on the charges deducted along the way.

LIC sold Plan 835 from August 2015 until 1 February 2020 (UIN 512L301V01). It replaced the older Endowment Plus Plan 802 and was itself replaced by New Endowment Plus 935. If you hold an 835 policy, it keeps running on its original terms, and the calculator above projects where your fund could end up.

Plan 835 at a glance

Feature	Details
Plan number / UIN	835 / 512L301V01
Plan type	Unit-linked, non-participating endowment
Policy term	10 to 20 years
Premium paying term	Same as the policy term
Basic sum assured	10 × annualised premium
Minimum premium	₹20,000 yearly, ₹13,000 half-yearly, ₹8,000 quarterly, ₹3,000 monthly
Funds	Bond, Secured, Balanced, Growth
Lock-in	5 years
Status	Withdrawn from 1 February 2020

Eligibility

Condition	Limit
Entry age	90 days to 50 years
Minimum maturity age	18 years
Maximum maturity age	60 years
Policy term	10 to 20 years

How the fund value is worked out

You choose the premium, not the sum assured. Each year the plan:

1. deducts the premium allocation charge (7.5% in year 1, 5% in years 2 to 5, 3% after) and buys units with the rest;
2. cancels units every month for the policy administration charge and the mortality charge, which is based on your age and the sum at risk (sum assured minus fund value);
3. deducts a fund management charge of 0.70% a year through the NAV;
4. adds no GST: individual life policies, ULIPs included, are GST-exempt from 22 September 2025. Before that, 18% GST applied on these charges.

Worked example: a 30-year-old pays ₹50,000 a year for 15 years, a total of ₹7,50,000. The sum assured is ₹5,00,000. At an 8% gross return the calculator estimates a fund value of ₹12,80,383, an IRR of about 6.43%. At 4% the fund would be about ₹9,15,487. Charges over the term add up to roughly ₹1,07,710.

A bigger example: a 35-year-old paying ₹1,00,000 a year for 20 years (₹20 lakh in total) gets ₹10 lakh cover. The fund comes to about ₹42,60,741 at 8% and ₹26,98,934 at 4%.

Tip: the gap between the 4% and 8% cases is the real risk in a ULIP. Plan with the lower number and treat anything above it as a bonus.

Maturity benefit

At the end of the term LIC pays the unit fund value. Nothing is guaranteed. In a Growth Fund the value can swing a lot in the final years, so many policyholders switch to the Bond or Secured Fund two or three years before maturity to lock in gains.

Death benefit

If the life assured dies during the term, the nominee gets the highest of:

• the basic sum assured, less partial withdrawals made in the two years before death;
• the unit fund value;
• 105% of all premiums paid.

Surrender, partial withdrawal and switching

• Lock-in: 5 years. Surrender or discontinuance before that moves your money to a discontinued policy fund, paid out after the fifth year.
• Surrender after 5 years: you receive the full fund value with no surrender charge.
• Partial withdrawal: allowed after the fifth policy year, within the limits in your policy document.
• Switching: you can move the fund between Bond, Secured, Balanced and Growth during the term.

Tax benefits

Premiums are deductible under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) (old regime). Plan 835 policies were issued before February 2021, so the ₹2.5 lakh annual ULIP premium cap does not apply. Maturity is generally tax-free under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) as long as the yearly premium stays within 10% of the sum assured.

Should you continue your 835 policy?

If you are past the five-year lock-in, charges have already dropped to their lowest level. Continuing usually makes more sense than surrendering, unless you need the money or the fund choice no longer fits you. Compare the projection above with a plain mutual fund using our ULIP plan calculator before you decide.

Plan 835 vs Plan 935

Plan 935 replaced 835 on 1 February 2020 under IRDAI’s revised product rules. The core design is the same: four funds, 10 to 20-year terms, cover of 10 times the annual premium and a five-year lock-in. The newer version updated the policy conditions to the 2019 regulations. Existing 835 policies were not converted.

How to use this calculator

Enter the age, term, premium mode, annual premium and expected return. The results show your projected fund, the sum assured, total charges and IRR, and the table below lists fund value and death benefit year by year. All figures are estimates, since actual NAVs will differ.