The LIC Index Plus Plan (Plan No. 873) is a unique, non-linked, participating life insurance plan that combines the benefits of insurance and investment in a single package. Designed to offer policyholders the potential for wealth accumulation while providing life cover, this plan is linked to the performance of a specific index, allowing for optimum growth opportunities.
With the LIC Index Plus Plan, policyholders can benefit from the market's growth while maintaining the security of life insurance coverage. This plan is tailored for individuals seeking financial protection for their families as well as a way to grow their savings in a controlled manner. The plan offers flexible premium payment options and provides multiple policy terms, thus adapting to the varying needs of different individuals.
In addition, LIC Index Plus Plan offers maturity benefits and bonuses, making it an attractive choice for those looking to build a robust financial future. As part of LIC's commitment to customer-centric financial solutions, this plan empowers individuals to achieve their long-term financial goals with peace of mind.
Type of Plan:
LIC Index Plus Plan (873) is a Unit Linked Insurance Plan (ULIP) that combines the benefits of life insurance and investment.
2. Features:
Investment in Equity Markets: The plan offers the potential for capital appreciation by investing in funds linked to market indices.
Flexibility: Policyholders can choose the sum assured and premium amounts based on their financial goals.
Choice of Funds: Various fund options are available, giving policyholders the flexibility to select plans based on their risk tolerance.
Lock-in Period: Typically, ULIPs have a lock-in period of 5 years.
3. Eligibility:
Age: Available for individuals as young as 90 days (or 1 year, depending on specific provisions) up to certain age limits 60 years.
Premium Amount: There may be minimum and maximum limits on the premium amount, which varies by the sum assured.
4. Sum Assured:
The plan usually allows for flexibility in choosing the sum assured, which can depend on factors such as the investor’s financial goals.
5. Benefits:
Death Benefit: In the event of the policyholder's death during the policy term, beneficiaries receive the sum assured plus any accumulated Fund Value.
Maturity Benefit: At the end of the policy term, the policyholder receives the accumulated Fund Value, which is subject to market performance.
6. Charges:
ULIPs generally have charges, including premium allocation charges, policy administration charges, fund management charges, and surrender charges. It’s essential to read the policy document for a clear understanding of these charges.
Term: Select Growth Fund: Flexi Growth, (or) Flexi Smart Growth., Initial NAV% 10 Growth NAV 12%
Enter Yearly Premium (Min 30,000) (10 Times annualised Premium / 7 Times Annualised Premium)
Tax Benefits:
Premiums paid may qualify for tax deductions under Section 80C of the Income Tax Act, and the maturity amount could be tax-free under Section 10(10D), subject to certain conditions.
Conclusion:
The LIC Index Plus Plan (Plan No. 873) is a unique, non-linked, participating life insurance plan that combines the benefits of insurance and investment in a single package. Designed to offer policyholders the potential for wealth accumulation while providing life cover, this plan is linked to the performance of a specific index, allowing for optimum growth opportunities.
With the LIC Index Plus Plan, policyholders can benefit from the market's growth while maintaining the security of life insurance coverage. This plan is tailored for individuals seeking financial protection for their families as well as a way to grow their savings in a controlled manner. The plan offers flexible premium payment options and provides multiple policy terms, thus adapting to the varying needs of different individuals.
In addition, LIC Index Plus Plan offers maturity benefits and bonuses, making it an attractive choice for those looking to build a robust financial future. As part of LIC's commitment to customer-centric financial solutions, this plan empowers individuals to achieve their long-term financial goals with peace of mind. is suitable for those looking for a combination of insurance coverage and the potential for investment growth while being linked to stock market indices. However, as with any investment, it is essential to assess personal risk tolerance and financial goals.
For an image or specific plan brochure, remember to visit the official LIC website or consult with a licensed LIC agent for the most accurate and updated materials.
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