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LIC PROFIT PLUS
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More
than 170 million lives are part of the
family called LIC. |
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Although
this journey started five decades ago,
LIC is still conscious of the fact
that, while insurance may be a
business, being part of millions of
lives every day for the past 50 years
has been a process called TRUST. |
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It is a unit linked Endowment plan where the
premium payment term (PPT) is limited to single
lump sum, or uniformly over 3, 4 or 5 years. You
can choose the level of cover within the limits,
which will depend on whether the policy is a
Single premium or Limited premium contract, term
chosen and on the level of premium you agree to
pay. |
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Four types of investment Funds are offered.
Premiums paid after allocation charge will
purchase units of the Fund type chosen. The Unit
Fund is subject to various charges and value of
units may increase or decrease, depending on the
Net Asset Value (NAV). |
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PAYMENT OF PREMIUMS |
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You may pay premiums regularly at yearly,
half-yearly, quarterly or monthly (ECS) intervals
over the premium paying term of 3, 4 or 5 years.
The minimum premium will be Rs.10000/-.
Alternatively, a Single premium can be paid
subject to a minimum of Rs.20,000/- . |
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Other Features: |
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Partial Withdrawals: You may encash the units
partially after the third policy anniversary
subject to the following: |
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i)
In case of minors, partial withdrawals shall be
allowed from the policy anniversary coinciding
with or next following the date on which the life
assured attains majority (i.e. on or after 18th
birthday). |
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| ii)
Partial withdrawals may be in the form of fixed
amount or in the form of fixed number of units. |
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Switching: You can switch between any fund
types for the entire Fund Value during the policy
term subject to switching charges, if any. |
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Risks borne by the Policyholder: |
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LIC's Profit Plus is a Unit Linked Life Insurance
products which is different from the traditional
insurance products and are subject to the risk
factors. |
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All benefits under the policy are also subject to
the Tax Laws and other financial enactments as
they exist from time to time. |
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