lic samridhi plusLIC Samridhi Plus gives highest NAV Guaranteed in first 100 months (8 years 4 months). It was launched on 25th February, 2011. Table 804 provides risk cover 10 times for yearly or Half Yearly  premium  if age is under 45 years. It is a unit linked plan with a policy term of ten years that provide payment of Fund Value towards the end of the policy term based on the Utmost Net Asset Value (NAV) above the first one hundred months of the policy or the NAV as applicable at the end of the policy term, whatever is higher. It is a single premium with no maximum limit plan.

Requirements:

  • Age Entry: 8 to 65 years.
  • Policy Term:  10 Years.
  • Premium paying Term: 5 years (on a yearly basis) or Single mode
  • Minimum premium: 15000 yearly  |  8000 half yearly  |  4000 quarterly
  • ECS: 1500 per month
  • Single Premium: Minimum 30,000 Rs. |  Maximum No limit

Risk Cover:

  1. 7 times for yearly or Half Yearly  premium  (if age is above 45 years)
  2. 1.25% for Single Mode (if age is under 45 years)
  3. 1.10% for Single Mode  (if age is above 45 years)
  • Allocation Charges:  Single (3.3%)  |  Regular (6%)
  • Policy Administration charges:
  1. Rs 30 first year
  2. Rs 9 for subsequent years.
  • Minimum Maturity Age term:  18 years
  • Maximum Maturity Age term:  75 years

Benefits:

  • Benefits payable on death: In case of death of the policyholder when the risk cover is in full force, the nominee shall be eligible to get higher of Sum Assured under the Basic Plan and the Policyholder’s Fund Value as at the date of reserving the liability.The policyholder’s Fund on demise shall be specified at the prevailing NAV as on the date of booking of the liability.
  • Rewards payable on maturity: To the policyholder surviving at the end of policy term an amount equal to the Policyholder’s Fund Value based on the maximum NAV over the first 100 months of the policy or the NAV as applicants by the end of the policy term, whichever is highest, shall be payable.
  • Accident Benefit Rider Option: Accidental death of the Policyholder throughout the term of the policy, a sum equal to the Accident Benefit Sum Assured will become payable, provided the Accident benefit cover is chosen for and is in enforcing.

Refer