LIC Pension Plus

LIC’s 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.   

LIC Pension Plus Features: You have a choice of investing your premiums in one of the two types of investment funds available. Premiums paid after deduction of 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).

Premium Ceasing Age : 85       Premium Ceasing Term : 61

Plan Highlights

LIC’s Pension Plus is a unique ULIP plan where the minimum rate of interest is guaranteed. This plan is excellent investment towards essential long term financial planning.

Pension Plus is in compliance with the current IRDA norms. Pension Plus is truly an innovative plan that suits your needs just too perfectly.

The features of the LIC Pension Plus plan are mentioned below:

• A unique Unit Linked Pension Plan with guarantee on the minimum rate of interest.
• Rate of Interest applied to gross premium.
• Being Market Linked, the plan has possibility of getting excellent returns.
• Due to minimum interest guarantee, you are protected against fluctuation of interest due to policies of the government in the distant future.
• Choose any one of the 2 funds i.e. Debt (Low Risk) & Mixed (Medium Risk)
• Free switching between funds two times every year and at a very nominal fee thereafter.
• Top-ups facility – additional premium can be paid at anytime to invest in the funds with no upper limit.
• Benefit on Maturity :

1. Annuity purchased from Fund Value or Guaranteed Maturity Proceeds whichever is higher.
2. Option to commute 1/3rd. of the Maturity Proceeds.

• Compulsory purchase of Annuity ensures channelisation of funds for specific purpose.
• Benefit on death – Fund Value. Nominee has the option to receive the amount in lump Sum or as Annuity.
• Convenient modes of payment, Single Premium mode also available.
• No surrender charges will be imposed after 5 yrs.

 1. Payment of Premiums: You may pay premiums regularly at yearly, half-yearly or   quarterly or monthly (through ECS mode only) intervals over the term of the policy. Alternatively, a Single premium can be paid.  

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

2.Eligibility Conditions And Other Restrictions:
a) MinimumEntryAge- 18 years (last birthday)
b)  Maximum Entry Age – 75 years (nearest birthday)
c)  Minimum Vesting Age  – 40 years (completed)
d)  Maximum Vesting Age -  85 years (nearest birthday)
e)  Minimum Deferment Term  -  10 years
f)   Sum Assured – NIL
g)  Minimum Premium -
Regular premium (other than monthly (ECS) mode) : Rs. [15,000] p.a.
Regular premium (for monthly (ECS) mode) : Rs. [1,500] p.m. 
Single premium:  Rs. [30,000] 
h)  Maximum Premium -
Regular premium : Rs. [1,00,000] p.a.
Single premium: No Limit  

Annualized Premiums shall be payable in multiple of Rs. 1,000 for other than ECS monthly. For monthly (ECS), the premium shall be in multiples of Rs. 250/-.

1.Investment of Funds: The plan offers following two funds detailed below:

The Policyholder has the option to choose any ONE out of the above 2 funds.

Contact us for Investment or Purchase a New Latest LIC New Pension Plus Product of 2010.

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LIC Jeevan Nischay

Jeevan Nischay (Plan 199): LIC’s New Jeevan Nischay Single Premium One Time Guarnteed Return Investment Plan only for exisiting policy holders. Closed for sale on 31 March 2010.

Details of the Plan 199 are as follows: It has been decided to introduce ‘LIC’s JEEVAN NISCHAY, (Plan No. 199) a closed ended plan which would be open for sale from 29th October 2009 till 31st March 2010. This plan shall be offered only to our existing policyholders.
Benefits:
LIC’s Jeevan Nischay is a single premium assurance plan with Loyalty Additions, if any. It shall be offered, without any medical examination, only to the existing policyholders of the Corporation whose previous policies have been accepted at standard rates and have at least one policy inforce.
· Death Benefit:
On death during the first policy year: 5 time the single premium excluding extra premium, if any.

On death during the policy term after first policy year, excluding last policy year: Maturity Sum Assured

On death during last policy year: Maturity Sum Assured along with loyalty addition, if any.
· Maturity Benefit:
On maturity: the Maturity Sum Assured along with Loyalty Addition, if any, shall be payable. Maturity Sum Assured would depend upon age at entry for a fixed amount of premium.

1. Eligibility Conditions and Restrictions
a) Minimum Entry Age : 18 years (completed)
b) Maximum Entry Age : 50 years (nearest birthday)
c) Minimum Single Premium : Rs. 10,000
d) Maximum Single Premium : Rs. 10,00,000
The Premium shall be in multiples of Rs. 1,000/-.
e) Policy Term : 5, 7 and 10 years
f) Minimum / Maximum Maturity Sum Assured : There is no specific minimum and maximum Maturity Sum Assured. It will depend on the single premium paid.

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Jeevan Saathi Plus ULIP

LIC’s Jeevan Saathi Plus (Plan 197): This is a unit linked Joint Life plan wherein a couple can take insurance cover on their lives under a single policy. The proposer under this plan shall be called Principal Life Assured (P.L.A.) and the other life (wife/husband) shall be called Spouse Life Assured (S.L.A.).

Benefits:

· Custom Individual Risk Cover: Option to choose separate amount of risk cover for your self & your spouse
· Combined Risk Cover up to 30 times of the annualized premium can be opted.
· Premium payment modes: Single, Yearly, Half yearly, Quarterly or Monthly (ECS).
· Top-up premium option available.
· Choose your investment risk by investing in any of the 4 funds – BOND, SECURED, BALANCED or GROWTH
· 4 FREE fund switches in a year & there after with nominal charges.
· Liquidity: Partial Withdrawal option available.
· Premium Waiver Benefit: In event of Proposer’s (PLA) death, future premiums are waived & an amount equal to all future premiums is added to fund.
· Auto Cover option available after 3 years
· Settlement option: Maturity benefit can be taken in lump sum or in installments (Half-yearly or Yearly).

Terms and condition:

Minimum Premium:
Regular Premium Policies:
o Rs.10, 000 p.a. (other than monthly (ECS) mode), increasing thereafter in multiples of Rs. 1, 000.
o Rs.1, 000 p.m. for monthly (ECS) mode, increasing thereafter in multiples of Rs. 250.
Single Premium Policies: Rs. 40,000, increasing thereafter in multiples of Rs. 1,000.

No Limit for Maximum premium

Minimum Sum Assured:

Regular premium policies: 5 times the annualized premium for each of Principal Life Assured and Spouse Life assured.
Single premium policies: 1.25 times the single premium for each of Principal Life assured and Spouse Life assured.

Maximum Sum Assured:
· Inclusive of both Principal Life Assured and Spouse Life assured
Regular premium policies:
o 30 times the annualized premium if age at entry for both the lives is upto 40 years
o 20 times the annualized premium if age at entry for any one of the lives is 41 years and above

· Single premium policies:
o 5 times the single premium if age at entry for both the lives is upto 40 years
o 2.5 times the single premium if age at entry for any one of the lives is 41 years and above

Further the sum assured for the spouse shall be less than or equal to the sum assured of P.L.A. subject to the minimum sum assured condition.
The Sum Assured shall be available in multiples of Rs. 5,000. Where the minimum Sum
Assured is not in the multiples of Rs. 5,000 it will be rounded off to the next multiple of Rs. 5,000. To the extent of rounding off, the maximum Sum Assured condition shall not be applicable. Flexibility to increase/ decrease premium & withdraw money according to your needs. Save Tax upto Rs.33390.

Check todays latest Value of LIC Jeevan Saathi NAV Click here.

 FAQ’s on Life Insurance here.

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Contact us for free quotes, Charts, Reviews, Presentations, Calculations, Combinations, on LIC’s New Jeevan Saathi Plus ULIP Life Insurance Policy. Our LIC of India’s Authorised Agent/ Insurance Advisor consultant will online councilling/ Contact you within 24 hrs.