LIC of India Pension Plan – Pension Plus

LIC of India Pension Plan – Pension Plus

LIC Pension Plus
LIC Pension Plus

IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER

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.

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).

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.

Eligibility  Conditions  And  Other  Restrictions:

a)  Minimum Entry Age – 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/-.

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:

Pension Plus Features:

i ) Guaranteed Maturity Proceeds
ii ) Guarantee of interest rate on Discontinued Policy Fund:
iii ) Top-up (Additional Premium) :
iv) Switching:
v) Partial Withdrawal:
vi) Revival:
vii) Conversion to annuity:

For Policy and Details Please Contact With Your Phone Number

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