This new plan from LIC offers savings along with life insurance protection during the policy term. Let us tell you the special features of this plan…
LIC Index Plus Plan: Life Insurance Corporation of India (LIC) from time to time announces new plans for crores of its customers. In this series, LIC has brought ‘Index Plus Plan’, in which the benefit of stock market, insurance protection and guaranteed addition is available. Life Insurance Corporation of India launched this new scheme on Monday, February 5, which is available for sale from February 6.
This new plan from LIC is a unit-linked, individual life insurance plan with regular premium. The plan offers savings along with life insurance protection during the entire term of the policy, LIC said in a statement. Let us tell you the special features of this plan…
Features of LIC Index Plus Plan
- LIC Index Plus Plan is available with monthly, quarterly, half yearly and annual premium of Rs 873.
- The insurance coverage will be 7 times if the age is above 51 years and 7 times and 10 times if the age is below 51 years.
- In this the policy holder will get the option of 2 different funds (1) Flexi Growth Fund and (2) Flexi Smart Growth Fund. You can select any fund from this.
- Switching between 2 funds is allowed 4 times in a year. In this plan you can withdraw money partially after 5 years.
- Life risk protection is also available with investment in this scheme. Apart from the unit fund value, guaranteed addition is also being offered in this plan.
- Surrender facility is available after the lock-in period of 5 years i.e. if you buy the policy then it will have to be run for at least 5 years, only after that you can surrender it.
Minimum and maximum age and premium conditions
The minimum and maximum entry age in this plan is 90 days (completed). The maximum entry age is 50 or 60 years (close to birthday) depending on the basic sum assured. Minimum age at maturity is 18 years (completed) and maximum age at maturity is 75 or 85 years (closer to birthday) depending on the Basic Sum Assured.
