|
PLAN FEATURES
|
|
|---|---|
|
Minimum Age
|
90 days (completed) for both Option 1 and 2
|
|
Maximum Age
|
70 years (nearer birthday) for Option 1
35 years (nearer birthday) for Option 2
|
|
Plan Term
|
Option 1: 10 to 25 years.
Option 2
Age upto 25: 10 to 25 years
Age (26 to 30 yrs): 10 to 20 years
Age (31 to 35 yrs): 10 years
|
|
Mode of Payment
|
Single Premium
|
|
Minimum Premium
|
1,00,00 - Premium shall be payable in multiples of
Rs.10,000/-
|
|
Maximum Premium
|
No Limit
|
|
Life Cover
|
On death before the Date of Commencement : An
amount equal to the Policyholder`s Fund Value shall
be payable
On death after the Date of Commencement of
Risk: An amount equal to the higher of Basic Sum
Assured or Policyholder`s Fund Value
|
|
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).
|
|
Basic Sum
Assured
|
Option 1 - 1.25 * Single Premium
Option 2 - 10 * Single Premium
|
|
Riders available
|
Accidental Death Benefit
|
Why buy LIC Nivesh Plus ?
LIC Nivesh Plus is a single premium endowment policy offered by the Life Insurance Corporation of India. Under the plan, a policyholder can avail dual benefits of the insurance as well as investment cover. Moreover, the policyholder has the freedom to select the sum assured at the time of purchasing the LIC policy. This policy provides 4 categories of investment funds under the policy for the policyholder to choose from.
Benefits of New Nivesh Plus ?
Benefits of LIC Nivesh Plus Plan
Death Benefit
In the event of the death of a policyholder, before the risk commencement begins, he will receive an amount that is the same as the Unit Fund Value.
In the event of the death of a policyholder after the date of risk commencement, he will receive an amount that is higher than either the Basic Sum Assured or Unit Fund Value.
Maturity Benefit
In the event that the policyholder survives to the date of maturity of the policy, a sum equal to the Unit Fund Value will be payable to him.
Guaranteed Additions
A fixed % of the Single Premium amount paid keeps getting added to the Policy Unit Fund once the LIC Nivesh Plus Policy has completed a specific number of years.
Optional Benefits
Rider Benefit
Rider benefit can be obtained by a customer, provided the LIC Nivesh Plus Plan has an outstanding term of 5 years.
Partial Withdrawals
Partial withdrawals are allowed at any time after the fifth policy anniversary. They are however subject to a number of factors decided by the corporation, for example, the age of the policyholder etc.
Once the partial withdrawal has been carried out, then for the next two years, the Basic Sum Assured will be reduced on the basis of the sum that has been withdrawn. Once the two year period is over, the Basic Sum will automatically be restored.Switching
The option to switch between four different types of funds is available to all holders of the LIC Nivesh Plus Policy during the term of the policy. If a policyholder chooses to make a switch to a new fund then the entire Fund Value will be transferred to the new fund.