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Life Insurance: The country's largest insurance company LIC has changed many of its popular plans. According to the new change, the entry age of the Endowment Plan has been reduced from 55 years to 50 years. This decision will affect senior citizens. The company has also changed its premiums. These new rules have been implemented from October 1, 2024. Chances of death increase after a certain age. Keeping this in mind, LIC has changed its rules.

What exactly changes in the endowment plan?
According to a report by Business Standard, LIC (Life Insurance Corporation of India) has also implemented new rules for insurance surrender. LIC has also made some changes to the endowment plan. This type of insurance provides live cover as well as maturity benefits. That is, in case of the death of the insured while the policy is taken, his family is paid according to the rules. Along with this, there is also a different benefit after maturity. LIC has not given any official information regarding this change yet.

6 endowment plans near LIC, change effective from 1st October
According to the LIC website, a total of 6 endowment plans are offered by LIC. These include the Single Premium Endowment Plan, LIC New Endowment Plan, LIC New Jeevan Anand, LIC Jeevan Lakshya, and LIC Jeevan Labh Plan and These plans include LIC Amritbaal. All these plans have been modified from 1st October 2024.

10 per cent increase in premium
According to sources, LIC has increased the rate of premium by 10 per cent. Along with this, the sum assured in New Jeevan Anand, Jeevan Lakshya policies has been increased by Rs 1 lakh to Rs 2 lakh. On the other hand, private insurance companies have also increased endowment plans by 6 to 7 per cent.