LIC Nivesh Plus scheme: invest big money in small amounts, know everything about this policy.
LIC Nivesh Plus is a single premium, non-participating, unit-linked and individual life insurance, which offers the option of investing along with insurance during the term of the policy.
New Delhi. If you are planning to invest somewhere and there is a dilemma in your mind as to how and where to invest. So, we tell you that there is a scheme of Life Insurance Corporation of India, where you can earn good profit by investing less. Actually, LIC Nivesh Plus is a single premium, non-participating, unit-linked and individual life insurance, which also gives the option of investing with insurance during the term of the policy.
Sum Assured Select Facility
You can buy this plan offline as well as online. The policy taker also has the facility to choose the basic sum assured. Sum Assured options are 1.25 times the Single Premium or 10 times the Single Premium.
The minimum entry age for LIC Investment Plus scheme is 90 days to 70 years.
Tenure and Premium Limit
The tenure of the policy is 10 to 35 years and the lock-in period is 5 years. The minimum limit on the premium is Rs 1 lakh, while the maximum limit is not. The maximum maturity age is 85 years.
If the policyholder stays alive until the policy term, he gets a maturity benefit, which is equal to the unit fund value. It is payable after the expiry of the policy term.
The company offers a free-look period to its customer. During this time customers can return the policy. If the policy is purchased directly from the company, then 15 days and online purchases, then the 30-day free-look period applies.
If the insured dies during the policy term, the nominee is entitled to receive the death benefit. If the policyholder dies before the risk commencement date, an amount equal to the unit fund value is payable.
In the LIC Investment Plus plan, the company allows customers to make partial withdrawals after the 6th policy year. In the case of minors, partial withdrawal is allowed after the age of 18 years.