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LIC New Participating Endowment Plan 256

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LIC New Participating Endowment Plan (256) is one of the most popular, simplest and most effective plans offering you the benefits of liquidity life cover investment and, most importantly, convenience.

Benefits of LIC New Participating Endowment Plan - 256

The insured individual receives the sum assured in addition to the accrued bonus on policy maturity. In case of his/her unfortunate demise before the policy maturity, the assured sum and accrued bonus are transferred to the beneficiary.

Accident Benefit

In this plan, the policyholder can opt for an accident benefit rider during the policy tenure or up to the age of 70, whichever is earlier. Furthermore, in case of an unfortunate demise of the policyholder due to an accident, while the policy is active, an additional amount equivalent to the accident benefit sum assured is paid along with the claim. This rider benefit is available for a maximum sum of AED 367,300 for one policyholder, including other policies held by him/her.

Plan Features, Restrictions and Applicability


Minimum Limit

Maximum Limit

Sum Assured

AED 14692

No limit (Subject to financial underwriting limits of LIC)

Age Entry

8 years (Last Birthday)

65 (Nearest Birthday)


10 years

35 years

Age at Maturity

18 Completed

75 Years


Premium Paying Terms

Full term, Limited Term ( 5/7 years)

Premium Paying Modes

Yearly, half-yearly, quarterly, and monthly

Serving Aspects

  • Premium Payment - The policyholder has flexible premium payment options. They can either choose a “Full Term Option” that pays the premium throughout the policy tenure, Or for a limited term of 5 or 7 years. To add to the convenience of premium payments, the policy also allows the policyholders to pay their premium in yearly, half-yearly, quarterly, and monthly modes.
  • Paid-up value – If the policyholder pays the premium for two years or more and cannot make the payments due to unavoidable circumstances, the policy gets converted automatically into a paid-up policy. The paid-up policy, however, has a reduced sum assured, which is payable on maturity or in case of unfortunate demise (if earlier).
  • Grace Period - For policyholders paying their premium yearly, half-yearly or quarterly, a grace period of one calendar month (not less than 30 days) is provided. For those paying monthly premiums, the grace period offered is 15 days.
  •  Policy Loan - With LIC New Participating endowment plan, the policyholder is entitled to obtain alone on the security of the policy. However, the policy should acquire surrender value after paying a premium for at least two years from the date of policy commencement.
  • Surrender options - the plan will acquire a surrender value after premiums after the premium of 2 full policy years has been paid.

Special provisions

LIC New Participating Endowment Plan accepts premiums in advance. The policyholder can pay a premium for up to 5 years in a lump sum and can avail of discounts. Any portion of the lump sum remaining unutilised is refundable.

Why you consider this plan?

It would be best if you considered investing in LIC New Participating Endowment Plan because:

  • Triple benefits of investment, life cover and liquidity.
  • Receive the sum assured plus accrued bonus on policy maturity.
  • Choose an accident benefit rider during the policy tenure.
  • Flexible mode of premium payment.
  • Full-term and limited-term premium paying term options.
  • No maximum limit.


Q1: What is the minimum age entry for LIC New Participating Endowment Plan?

The minimum age for entry is eight years.

Q2: What are the different modes of premium payment?

A policyholder can pay their premium yearly, half-yearly, quarterly or monthly.

Q3: Do they offer a grace period for premium payment?

Yes. A policyholder paying their premium yearly, half-yearly or quarterly can avail of a grace period of 30 days. For monthly premium payers, the grace period is 15 days.

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