LIC Wealth Plus New Launching ULIP Plan of 2010

admin — Tue, 09 Feb 2010 11:25:25 +0000

LIC’s Wealth Plus Plan which is closed ended plan will be introduced on 9th February 2010. Salient features of thes policy (plan No. 801) are as follows:

Unit Linked Plan with Policy Term of 8 Years.
Free Insurance Cover for 2 years after maturity.
Amount payable on maturity will be based on Highest NAV in the 1st 7 years or the NAV at the end of 8 years whichever is higher.
Accicent benefit upto 50 lacs is available.
Mode of Payment- Single or for 3 Years. For 3 years premium paying term, premium can be paid monthly, ECS, Quarterly, Half Yearly or Yearly.
Minimum premium Rs. 2,000/- p.m. for monthly (ECS) mode. Rs. 20,000/- p.a. for 3 year term & Rs. 40,000/- for single premium. Maximum Premium: No Limits.
Minimum age of entry 10 years and maximum 65 Years.
Minimum Sum Assured: 5 times the annualized premium and 1.25 times single premium.
No top up is allowed.
Partial withdrwal is allowed twice in a policy year after premium paying term.
Charges: Premium allocation charge 5% for premium upto Rs.4 lacs & 4.5% for above 4 lacs. For 3 years premium paying term, Policy allocation Charge in the 1st year ranges ranging from 12% to 11.5% & thereafter every year @ 2.5%.
Level mortality charge based on age at entry.

Unique features:

1st Guaranteed NAV Product of LIC
Instead of increacing mortality premium, this plan offers level premium.
Allocation Charge and other charges are extremely low.
2 Years extended life cover after the maturity.
Partial withdrwal is allowed.
Lowest cost among all plan available in the market of such types of plans.

Click here to get detailed Example/ Presentation on LIC WealthPlus

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LIC Wealth Plus New Launching ULIP Plan of 2010