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New Pension Plus Plan 867

Smart Investment & Secure Tomorrow

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PLAN FEATURES
Minimum Age
25 years (completed)
Maximum Age
75 years (completed)
Plan Term
10 to 42 years
Mode of Payment
Yearly, Half yearly, Quarterly or Monthly
Minimum Premium
Yearly - 30,000 Half-Yearly - 16,000 Quarterly- 9,000 Monthly - 3,000 Single - 1,00,000
Maximum Premium
No Limit
Life Cover
Higher of Fund Value OR 105% of Total Premiums Paid. Nominee has the option to receive the amount in lump Sum or as Annuity.
Maturity Benefit
At the end of policy term policy holder will get fund value. Guaranteed additions shall be added and converted to units at pre-defined specific intervals.
Policy Surrender
A Policy can be surrendered anytime during policy term.
Tax Benefit
Savings on Premiums eligible u/s 80C. All benefits payable are tax free u/s 10(10D).

Why Should buy LIC New Pension Plus Plan 867 ?

Benefits of the LIC Pension Plus Plan
  1. Death Benefit

    The nominee will receive higher of the fund value or 105% of the Total Premiums paid till the date of death. The proceeds or a part of it can then be used to purchase an immediate or deferred annuity for life.
    Immediate annuity is where one starts receiving a pension as soon as the plan is purchased. Deferred annuity is where annuities start flowing in at the end of a deferment period.

  2. Maturity Benefit

    The end of the policy term is marked by the date of vesting. The policyholder will receive the entire fund value which can be further used to buy an immediate annuity or deferred annuity for life.

Key Features of LIC Pension Plus Plan
  1. Pension for life

    The total amount that one will have accumulated over the years can be annuitised. Annuitisation is the process of converting a lump sum into a series of fixed payments, usually for the rest of one’s life. This is done to ensure a regular income during retirement.

  2. Market-linked Returns

    The unit-linked nature of the plan allows policyholders to invest in the choice of their fund. Based on the performance of these funds in the market, policyholders stand a chance to generate increased returns. They can switch between these funds for free at least 4 times a year.

  3. Choice of Funds

    The Pension Plus Plan offers a choice of 4 investment fund options that one can choose based on their risk appetite.
    (A)Pension Bond Fund
    (B)Pension Secured Fund
    (C)Pension Balanced Fund
    (D)Pension Growth Fund

  4. Guaranteed Additions

    LIC of India adds a guaranteed fixed amount to the fund value at the end of the following years till the date of maturity.