LIC New Endowment Plus 935 is a unit-linked endowment plan (UIN 512L301V02) sold from 1 February 2020 until it gave way to Plan 735. Cover is 10 times the annual premium and maturity pays the fund value. A 25-year-old paying ₹30,000 a year for 20 years could build about ₹12.5 lakh at an 8% gross return, or about ₹7.9 lakh at 4%, after charges.
New Endowment Plus 935 Fund Value Calculator
Your estimate
at 8% gross return, after charges
10 × annualised premium
- Premium per instalment
- ₹50,000
- Total premium paid
- ₹7,50,000
- Estimated returns
- ₹5,30,383
- Approx. return (IRR)
- 6.43%
- Fund value at 4% (IRDAI scenario)
- ₹9,15,487
- Fund value at 8% (IRDAI scenario)
- ₹12,80,383
- Total charges deducted
- ₹1,07,710
- Death benefitminimum; higher of sum assured, fund value or 105% of premiums paid
- ₹5,00,000
- Age at maturity
- 45 years
- Total premium paid₹7,50,00059%
- Estimated returns₹5,30,38341%
Year-wise fund projection
| Year | Age at entry | Premium paid | Estimated fund value | Death benefit |
|---|---|---|---|---|
| 1 | 31 | ₹50,000 | ₹47,593 | ₹5,00,000 |
| 2 | 32 | ₹1,00,000 | ₹1,00,430 | ₹5,00,000 |
| 3 | 33 | ₹1,50,000 | ₹1,57,144 | ₹5,00,000 |
| 4 | 34 | ₹2,00,000 | ₹2,18,025 | ₹5,00,000 |
| 5 | 35 | ₹2,50,000 | ₹2,83,380 | ₹5,00,000 |
| 6 | 36 | ₹3,00,000 | ₹3,54,619 | ₹5,00,000 |
| 7 | 37 | ₹3,50,000 | ₹4,31,100 | ₹5,00,000 |
| 8 | 38 | ₹4,00,000 | ₹5,13,227 | ₹5,13,227 |
| 9 | 39 | ₹4,50,000 | ₹6,01,311 | ₹6,01,311 |
| 10 | 40 | ₹5,00,000 | ₹6,95,742 | ₹6,95,742 |
| 11 | 41 | ₹5,50,000 | ₹7,96,980 | ₹7,96,980 |
| 12 | 42 | ₹6,00,000 | ₹9,05,515 | ₹9,05,515 |
| 13 | 43 | ₹6,50,000 | ₹10,21,877 | ₹10,21,877 |
| 14 | 44 | ₹7,00,000 | ₹11,46,631 | ₹11,46,631 |
| 15 | 45 | ₹7,50,000 | ₹12,80,383 | ₹12,80,383 |
Individual life insurance premiums are exempt from GST from 22 September 2025. Figures are estimates based on typical rates and may differ from LIC’s official quote.
What is LIC New Endowment Plus Plan 935?
LIC New Endowment Plus Plan 935 is a unit-linked, non-participating insurance plan. You decide the premium, LIC invests it (after charges) in one of four funds, and you carry life cover of 10 times the annual premium. The payout at maturity is your fund value. There is no bonus and no guaranteed return.
Plan 935 went on sale on 1 February 2020 (UIN 512L301V02) as the updated version of New Endowment Plus 835. Our source records its withdrawal on 1 January 2025, and its successor, New Endowment Plus 735, has since been withdrawn too. If you already hold a 935 policy, use the calculator above to see what your fund could be worth at maturity.
Plan 935 at a glance
| Feature | Details |
|---|---|
| Plan number / UIN | 935 / 512L301V02 |
| Launched | 1 February 2020 |
| Policy term | 10 to 20 years (regular premium) |
| 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 |
| Grace period | 30 days (15 days for monthly) |
Eligibility
| Condition | Limit |
|---|---|
| Entry age | 90 days (completed) to 50 years (nearest birthday) |
| Maturity age | 18 to 60 years |
| Policy term | 10 to 20 years |
How the calculator projects your fund
The calculator follows the plan’s charge structure year by year:
- Premium allocation charge: 7.5% of the first year’s premium, 5% in years 2 to 5 and 3% after that.
- Policy administration charge: a small monthly deduction from units.
- Mortality charge: the cost of cover, based on your age and the sum at risk.
- Fund management charge: 0.70% a year, taken through the NAV.
- GST: none from 22 September 2025, when individual life policies became GST-exempt (18% applied on charges before that).
Worked example: a 25-year-old invests ₹30,000 a year for 20 years, ₹6,00,000 in total, with ₹3,00,000 cover. At an 8% gross return the projected fund is ₹12,46,849 (IRR about 6.54%). At 4% it is about ₹7,89,226. Charges over 20 years come to roughly ₹1,17,969.
Tip: most of the charges fall in the first five years. Stopping early hurts the most, so choose a premium you can keep paying for the full term.
Maturity and death benefits
On maturity you receive the full unit fund value. You may want to move to the Bond or Secured Fund a few years before the end to protect your gains.
On death during the term, the nominee receives the highest of the basic sum assured (reduced by partial withdrawals in the previous two years), the fund value, or 105% of premiums paid.
Lock-in, surrender and partial withdrawals
The first five years are locked in. If you stop paying or surrender during that period, the fund moves to a discontinued policy fund and is paid out only after the fifth year. After five years you can surrender for the full fund value, or take partial withdrawals within the limits in your policy. Fund switches are also allowed during the term.
Tax benefits
Premiums qualify under Section 123 of the Income-tax Act, 2025 (earlier Section 80C) in the old regime. For policies issued on or after 1 February 2021, maturity is exempt under Section 11 read with Schedule II of the Income-tax Act, 2025 (earlier Section 10(10D)) only when your total ULIP premium across policies is ₹2.5 lakh a year or less. Death benefits are tax-free regardless.
Plan 935 compared with 835 and 735
All three versions share the same basic design: four funds, cover of 10 times the annual premium, 10 to 20-year terms and a five-year lock-in. Plan 935 brought the product in line with IRDAI’s 2019 product rules. Plan 735 followed it but has also been withdrawn, so new buyers should look at current LIC ULIPs such as Index Plus 873 or SIIP 752. Existing 935 policies are not converted and keep their own terms.
If you want to compare this plan with a pure investment, try our ULIP plan calculator.
How to use this calculator
Enter age, term, mode, annual premium and expected return. The results show projected fund value, sum assured, IRR and charges. The table lists fund value and death benefit year by year. Figures are estimates based on an assumed steady return; real NAVs move up and down.
Frequently asked questions
When was LIC New Endowment Plus 935 launched and withdrawn?
Plan 935 was launched on 1 February 2020, replacing Plan 835. According to our source it was withdrawn from 1 January 2025, and was followed by New Endowment Plus 735, which has since been withdrawn too. Existing 935 policies continue on their original terms.
How much will I get on maturity from Plan 935?
You get the unit fund value on the maturity date. It depends on the fund you chose and market returns. For ₹30,000 a year over 20 years, the calculator estimates about ₹12.47 lakh at 8% and ₹7.89 lakh at 4%, after all charges.
What is the death benefit under LIC 935?
After risk commencement the nominee receives the highest of the basic sum assured (less recent partial withdrawals), the unit fund value, or 105% of premiums paid. Before risk commencement on a child's policy, only the fund value is payable.
What is the minimum premium for New Endowment Plus 935?
The minimum instalment is ₹20,000 yearly, ₹13,000 half-yearly, ₹8,000 quarterly or ₹3,000 monthly through NACH. There is no fixed maximum; your sum assured is always 10 times the annualised premium.
Can I surrender LIC 935 before 5 years?
You can apply, but the money is not paid immediately. The fund, less a discontinuance charge, moves to the discontinued policy fund, earns a minimum guaranteed interest and is paid after the fifth policy year.
Is LIC 935 maturity tax-free?
For 935 policies issued on or after 1 February 2021, maturity is tax-free under Schedule II (earlier Section 10(10D)) only if your total annual ULIP premium is ₹2.5 lakh or less. Above that, gains are taxed as capital gains. Death claims remain tax-free.
What is the grace period in Plan 935?
30 days for yearly, half-yearly and quarterly premiums and 15 days for monthly premiums. If you miss the grace period the policy is treated as discontinued, but it can be revived within the revival period allowed by the policy.
Disclaimer: LIC Premium Calculators is an independent website. We are not affiliated with, endorsed by or connected to Life Insurance Corporation of India. All figures are estimates for illustration; confirm exact premiums and benefits with LIC or a licensed agent before buying.