Skip to main content

Now ULIPs are available from LIC too. New Endowment Plus (835) launched

Life Insurance corporation of India, on 19/08/2015, Wednesday, launching the ULIP plan after a gap of 20 months. It is the first of its kind from LIC after December, 2013.

  • This plan, new Endowment plus, offers investment-cum-insurance during the term of the policy.
  • Plan for your kids education or marriage with this plan.
  • Policyholder has the option to choose anyone from below 4 funds to invest premiums initially and at the time of switching:
Fund TypeInvestment in Government / Government Guaranteed Securities / Corporate DebtShort-term investments such as money market instrumentsInvestment in Listed Equity SharesDetails and objective of the fund for risk /return
Bond FundNot less than 60%Fund Not more than 40%NilLow Risk
Secured FundNot less than 45%Not more than 40%Not less than 15% & Not more than 55%Steady Income -Lower to Medium risk
Balanced FundNot less than 30%Not more than 40%Not less than 30% & Not more than 70%Balanced Income and growth – Medium risk
Growth FundNot less than 20%Not more than 40%Not less than 40% & Not more than 80%Long term Capital growth – High risk
  • Following are the eligibility criteria:
Basic Sum Assure (SA)Higher of 10 times of Annualized Premium; or 105% of total premiums paid
Minimum PremiumMinimum Premium is based on the interval of payment:
Yearly : Rs.20,000
Half-Yearly : Rs.13,000
Quarterly: Rs.8,000
Monthly: Rs.3,000
Maximum PremiumNo Limit.
Minimum Entry Age90 days Completed
Maximum Entry Age50 years (nearest birthday)
Policy Term10 years to 20 years
Premium Paying TermSame as policy term
Minimum Maturity Age18 years Completed
Maximum Maturity Age60 years (nearest birthday)

  • Maturity value
    • Maturity amount an amount equal to the policyholder’s fund value (No. of Units X NAV)
  • Partial withdrawal:
    • You can withdraw amount partially after completing 5 years.
  • Death Benefit:
    • An amount equal to the higher of
      • Basic sum assured (i.e. higher of 10 X Annualized Premium or 105% of total premiums paid); or
      • Policyholder’s Fund Value
  • Tax Benefit:
    • Under section 80C, and maturity amount is totally tax free U/s 10(10D).
Need more information on this plan? Feel free to contact us.

Labels:

Comments

Post a Comment

Need some help? Just comment here, we will be glad to help you. :)

Popular posts from this blog

LIC Launches One more Child Plan - Jeevan Tarun - 834

LIC launched One more child plan.  The name of the plan is Jeevan Tarun and No is 834. In this plan, you have the option to choose money back from kids age of 20. Here's are the salient features of the plan -  AGE: 0 - 12 Min SA: ₹75000 TERM: (25 - Age at Entry) PPT: (20 - Age at Entry) PWB Available. MATURITY : AGE 25. LAST 5 YEARS OPTIONAL MONEY BACK. Option:  SB (Last 5 yrs): Maturity: 1:          No SB.             100% SA 2:          5% SB.             75% SA 3:          10% SB.           50% SA 4:          15% SB.           25% SA.  All other features such as loan and surrender are available by default. Income Tax Benefit – Available under Section 80 C for premiums paid and Section 10 (10D) for Maturity returns. Ne...
2 comments
Read more

LIC's New Single Premium Plan (831) Jeevan Sangam

Jeevan Sangam :   Single Premium Plan No.831 launching on 4th  March 2015 and available for a maximum period of 90 days.           Close-ended, Non-linked, With-profits plan.           ELIGIBILITY CONDITIONS- o    Minimum Entry Age= 6 yrs completed; o    Maximum Entry Age= 50 yrs nearer birthday; o    Minimum Sum Assured= Rs.75,000/- (in multiples of Rs.10,000/-); o    Maximum Sum Assured= No limit; o    Policy term= 12 yrs fixed;           DATE OF COMMENCEMENT OF RISK- o    for age 7 yrs nearer birthday= Risk will commence from policy anniversary coinciding with or immediately following age 8 yrs ( nearer birthday); o    For those aged 8 yrs nearer birthday or more= Risk will commence immediately.           MATURITY SUM ASSURED = Sum Assured + Loyalty Addition, if any...
Post a Comment
Read more

What WhatsApp outage tells us about investments?

 It's all about Friday night 19 March 2021 at around 23.00 IST hours WhatsApp, Insta and FB were down for 35-40 min. People who are on Twitter reached Twitter to post the same. And some others reached Google to confirm the same. What does this teach us? Don't invest all your eggs in one basket😅  Keep using telegram or signal or Hike- Indian app also😎 In same way don't invest all your money in only shares or only real estate or only PPF or only LIC. Diversify them😎 Diversifying your investments helps you optimize your risk factors. If share market or real estate is down then only some part of your investment gets affected. All your remaining instruments remain at same levels. So your risk is minimised. For more details on how to diversify investments, do reach us by commenting below
Post a Comment
Read more