The name of this plan is still not decided yet. It can be either LIC Samriddhi Plus Table number 804.

Age Entry: 8 to 65 years.

Policy Term :  10 Years.

Premium paying Term : 5 years (on yearly basis) or Single mode

Minimum premium : 15000 yearly  |  8000 half yearly  |  4000 quaterly

ECS  : 1500 per month

Single Premium : Minimum 30,000 Rs. |  Maximum No limit

Risk Cover : Lic Samruddhi Plus 10 times for yearly or Half Yearly  premium  (if age is under 45 years) |  7 times for yearly or Half Yearly  premium  (if age is above 45 years)  |  1.25% for Single Mode (if age is under 45 years) | 1.10% for Single Mode  (if age is above 45 years)

Allocation Charges  :  Single (3.3%)  |  Regular (6%)

Policy Administration charges : Rs 30 first year | Rs 9 for subsequent years. (Lic Samruddhi Plus )

Minimum Maturity Age term  :  18 years

Maximum Maturity Age term :  75 years

Highest NAV Guaranteed in first 100 month (8 years 4 month)

To apply for this plan, please click here Apply Online or call our Registered LIC Agent on

+91-9850-674-066. Our Agent will not be able to help you for policies that are already taken. Please call LIC on 1251 for inquiries about your policy that you have already purchased or taken.

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“In this policy, The investment risk in investment portfolio is borne by the policy holder.”

Lic Pension plus is a Unit Linked Deferred Pension Plan, which provides you a minimum guarantee on the gross premiums paid. The plan is without any life cover.

You have a choice of investing your premiums in one of the two types of investment funds available with LIC. Premiums paid after deduction of allocation charge will purchase units of the fund you chosen. LIC, The unit fund is subject to various charges and value of its unit may increase or decrease depending on the net asset value (NAV).

1.  payment of premiums.

You may pay premiums regularly at yearly, half yearly or quarterly or monthly (through ECS mode only(LIC) ) intervals over the term of the policy. Alternatively, a single premium can be paid at lic.

A grace period of 30 days will be allowed for payment of yearly or half yearly or quarterly premiums and 15 day for monthly (through ECS) premiums.

2. Benefits

A) Death benefits.

The LIC policy holder’s fund value shall be payable in a lump sum or as an annuity, as desired by the nominee. The amount of annuity will depend on the payable lump sum and the then prevailing immediate annuity rates under the annuity option chosen,.

B)Benefit on Vesting

On your Surviving to the date of vesting, the higher of policy holder’s fund value and guaranteed maturity proceeds as define under para 10(i), will compulsorily be utilize t provide annuity based on the then prevailing immediate annuity rates under the relevant annuity option. However, you may opt to commute up to 1/3 of the benefits to be paid as a lump sum. Further you may chose top purchase annuity from LIC or other life insurance company.

3) Eligibility condition and other restrictions (LIC) :

Minimum Entry age: 18 years (last birthday)

Maximum Entry age:  75 years (nearest birthday)(LIC)

Minim um vesting age: 40 years (completed)

Maximum vesting age: 85 years (nearest birthday)

Minimum deferment term: 10 years

Sum Assured: Nil

Minimum premium:

Regular premium (other than monthly (ECS) mode): Rs 15000 pa.

Regular premium (for monthly (ECS) mode): Rs 1500 pm.

Single premium Rs 30000.

Maximum premium:

Regular premium: Rs 1 lac per Annam.

Single premium: No limit

Annualized premiums shall be payable in multiples of   Rs 1000 for other than ECS monthly. For monthly (ECS), the premium shall be in multiples of Rs 250.

4. Investment of Funds:

The plan offers following two funds detailed below:

The policyholder has the option to choose any ONE out of the below 2 funds.

1. Debt Fund.

2. Mixed Fund.

5. Method of calculation of Unit Price

Units will be allotted based on the Net Asset Value (NAV) of the respective fund as on date of allotment. There is no bid offer spread (the bid price and offer price of unit will both be equal to the NAV). The NAV will computed on daily basis and will be based on investment performance. Fund management charge and whether fund is expanding or contracting under each fund type and shall be calculated as under

Appropriation Price is applied (When fund is expanding):

Market value of investment held by the fund + the expenses incurred in the purchase of the asset + the value of any current asset + any accrued income net of fund management charges less the value of any current liabilities less provision, if any, divided by the number of the unit existing at the valuation date (before any new unit are allocated)

Expropriation price is applied (When fund is contracting):

Market value of investment held by the fund less the expenses incurred in the sales of assets + the value of any current assets + any accrued income net of fund management charges the less value of any current liabilities less provision, if any divided by the number of unit existing at the valuation date (before any unit redeemed).

Applicability of net asset value (NAV):

The premium received up to a present time (presently 3 pm) by the servicing branch of the corporation through ECS or by way of a local check or a demand draft (DD) payable at par at the place where the premium is received, the closing NAV of the day on which premium is received is applicable. The premiums received after such time by the servicing branch of the corporation through ECS or by way of a local check or a demand draft (DD) payable at the place where the premium is received. The closing NAV of the next business day shall be applicable.

Similarly in respect of the valid applications received for surrender, complete withdrawal, death claim, switches etc. up to such time by the servicing branch of the corporation closing NAV of that day shall be applicable. For the valid application received in respect of surrender, complete withdrawal, death claim, switches etc, after such time by the servicing branch of the corporation, the closing NAV of the next business day shall be applicable.

IN case of discontinuance, as specified in para 8 below, wherein the policyholder does not exercise the option within the period of 30 days of receipt of notice then the NAV as on the date of expiry of notice period shall be applicable.

In respect of the policies vesting, NAV of the date of vesting shall be applicable. The timely (presently 3pm) is as per the existing guidelines and changes in this regard shall be as per the instructions from the IRDA.

6) Charges Under the Plan:

A) Premium Allocation Charge:

This is the percentage of the premium deducted towards charges from the premium received. The balance constitutes that part of the premium which is utilized to purchase (investment) units for the policy. The allocation charges are as below:

For single premium policies: 3.3%

For regular premium policies:

1st year: 6.75%

2nd to 5th year: 4.50%

Thereafter: 2.50%

Allocation charge for topup: 1.25%

B) Other charges:

The following charges shall be deducted during the term of the policy:

I) Policy Administration charge:

Rs 30/- per month during the first policy year and Rs 30/- per month escalating at 3% p.a. thereafter, throughout the term of the policy shall be levied.

II) Fund management charge:

Its a charge levied as a percentage of the value of units at following rates:

0.70% p.a. of Unit Fund for “Debt” fund

0.80% p.a. of Unit Fund for “Mixed” fund

Fund management charge shall be appropriate while computing NAV.

III) Switching Charge:

This is the charge levied on switching of monies form one fund to another. Within a given policy year 2 switches will be allowed free of charge. Subsequent switches in that year shall be subject to a switching charge of Rs. 100 per switch.

IV) Bid/Offer spread: NIL

V) Discontinuance Charge:

The discontinuance charge for regular premium policies is as under:

AP – Annualized Premium

FV – Policyhoolder’s Fund Value excluding the fund value in respect of Topup premium paid, if any, on the date of discontinuance.

There shall not be any discontinuance charge under single premium.

VI) Service Tax charge:

A service tax charge, if any, will be as per the service tax laws and rate of service tax as applicable from time to time.

VII) Miscellaneous Charge:

This is a charge levied for change in premium mode. It opted  for by the policyholder during the deferment term. An alteration may be allowed subject to a charge of Rs 50.

C) Right to Revise Charges:

The corporation reserves the right to revise all or any of the  above charges except the premium allocation charge with prior approval of IRDA. Although the charges are reviewable, they will be subject to the following maximum limit:

Policy administration charge. Rs 60 per month during the first policy year and rs 60 per month escalating at 3% p.a. thereafter, throughout the term of the policy.

Loan

No loan will be available under this plan.

Assignment:

Assignment shall not be allowed under this plan.

Exclusion

Nil

Reinstatement:

A policy once surrendered can’t be reinstated.

Chekout other LIC plans:

LIC Pension Plans:

a) LIC’s Jeevan Akshay – 6 (Table No. 189):

An immediate annuity plan with a number of options.

b) New Jeevan Suraksha – 1 (Table No. 147) & New Jeevan Dhara – 1 (Table No. 148):

Deferred Annuity

plans. The annuitant has five options o annuity payments to choose from.

c) LIC’s Jeevan Nidhi (Table No. 169):

A with profits deferred pension plan which provides death cover during the deferment period.

Check our Other LIC Plans:

1) Term Assurance Plans.

2) Children plans.

3) Basic Life Insurance Plans.

4) Unit Linked Plans.

5) LIC Micro Insurance Plan.

6) LIC Health Insurance Plans.

7) LIC Handicapped Dependants Plans.

8 ) General LIC insurance plans (Others).

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a) LIC’s Profit Plus (Table No. 188):

Unit Linked Endowment plan with four fund types, 5 to 20 year policy term, single premium and 3 to 5 year premium paying term.

b) LIC’s Market Plus – 1 (Table No. 191):

Unit Linked Pension Plan with option o with or without risk cover and commutation of 1/3rd pension. Pension can start at minimum age of 40 years. Critical illness as a rider is also available.

c) LIC’s Money Plus – 1 (Table No. 193):

Unit Linked Endowment plan with regular premium paying term which offers investment cum insurance during the term of the policy.

d) LIC Child Fortune Plus (Table No. 194):

Unit Linked Plan which offers a solution to meet the child’s educational and other needs.

e) LIC’s Jeevan Sathi Plus (Table No. 197):

Unit Linked Joint life plan wherein a couple can take insurance cover on their lives under a single policy.

Check our Other LIC Plans:

1) Term Assurance Plans.

2) Children plans.

3) Pension Plans.

4) Basic Life Insurance Plans.

5) LIC Micro Insurance Plan.

6) LIC Health Insurance Plans.

7) LIC Handicapped Dependants Plans.

8 ) General LIC insurance plans (Others).

==> Go back to LIC

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2. LIC Market Plus-1 is going to end on 31-12-2009 (ULIP Plan) This plan has been extended till further notice with some changes. The Min. Single premium per year has been extended...

Wealth Plus.

1. Highest NAV of 7 year guaranteed.

2. Very Attractive Returns.

3. Life cover.

4. Minimum Yearly premium Rs. 20,000 for three years term policy and there is no limit on maximum premium.

5. Tax Exemption.

6. Limited Period Offer (Only for three months).

This plan will start from 9th February, 2010 for a maximum period of three months. It is a ULIP with term for 8 years providing life cover also. At the end of policy term and the policy is in full force, payment of fund value will be made based on the highest NAV over the first 7 years of the policy or the NAV as applicable at the end of the policy terms whichever is higher.

Guarantee will be applicable only for payment to be made at the end of the policy terms – 8 years. There will be an extended life cover for 2 years after completion of policy term.

Premium payment under this plan is limited to single or 3 years. With this plan accident benefit facility is also available. In case of death of policy holder during policy term, and the policy is in full force, the nominee shall get the sum assured under the basic plan along with the policyholders fund value.

After the policy term but before the expiring of the extended life cover period, in case of death, the nominee will receive the sum assured under the basic plan. 3 years will be the locking period and it can be surrendered only during the policy terms after completion of third year. This plan comes under Tax Benefit 80-C.

The minimum age at entry is 10 years while the maximum age of entry is 65 years. The plan also offers an extended life cover for 2 years after the completion of the policy term of 8 years.

NOTE: It is highly recommended if you can contact our LIC agent directly on phone for more details about Wealth Plus or any other policy. We can also get your insurance done with LIC if required.

Click here to know more about LIC ULIP plans.

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The magic plan, the market plan, the wonder plan. This is use to call Market Plus-1. 10K crore Rupees has been invested in this plan by policy holders and the locking period is for 3 years (it will expire on 31-12-2009 extended). After December, the locking period for the coming plan will be for 5 years. (information is based through source LIC agents). Hurry up and don’t miss this plan.

Features:

Minimum Entry Age: 18 years completed.

Maximum Entry Age: 80 years nbd without life cover. 65 years nbd with life cover.

Minimum deferment Pd: 5 years.

Minimum Vesting Age: 40 years.

Maximum Vesting Age: 85 years nbd without life cover. 75 year nbd with life cover.

Why Market Plan-1?

Policy Ek Fayda Anek (Investment bhi PLUS, pension bhi PLUS, Yane Double PLUS)

(a) High returns will minimum risk.

(b) Easy liquidity (can be surrender after 3 years).

(c) Tax benefit available.

(d) Opportunity to invest in different firm (4 types). According to your risk appetite.

(e) Option to switch over between different funds.

(f) Top up facility (Invest any amount any time).

(g) Optional life risk cover at a low premium.

(h) Flexibility in mode of premium payment (Single/Yly/Hly/Qly/ECS)

(i) No surrender charges.

(j) Optional critical rider (cover on specific diseases).

(k) Option to freeze NAV anytime even before 3 years. in case of high increase in NAV.

Why Invest now? Current NAV 12.15

(a) New hope & optimism as there is a stable government at center. All economic, financial, newspaper, magazines, TV channels predict that Sensex will go up considerably in next 3 years.

(b) Expected FII investment.

(c) Low inflation.

(d) Push to agricultural sector in the budget.

(e) Lowering of Interest rate.

(f) Lightly huge investment in infra structure.

(g) It is expected that the invested amount in this plan will get doubled in 3-4 years.

How ULIP of LIC which have completed more than 3 years have performed?

(1) Bima Plus (plan closed):

Launching date 02-02-2001 with NAV 10. But current NAV is 44.49. Rate of interest @ 41% per year

(2) Jeevan Plus (plan closed):

Launching date 18-10-2005 with NAV 10. But current NAV 18.36. Rate of interest @ 22% per year.

(3) Future Plus (plan closed):

Launching date 04-03-2005 with NAV 10. But current NAV 19.63. Rate of interest @ 22% per year.

Where does LIC invest the funds of market Plus-1?

.

Why should you be left behind? Invest now before it is too late.

For more details Contact us through phone: +91-9850-674-066

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