Finally LIC Has Launched a New Plan which name is LIC Index Plus Fund which is related to Share market and very Highly Return and Attractive Benefits

Types Of Benefits:-LIC New Index Plus Policy launched Full Details with High Return 25%

Risk cover and savings through equity based investment
Choice of select stocks of NIFTYSO & NIFTY100 Index through 2 funds(FIexi Smart Growth Fund and Flexi Growth Fund)
Refund of Mortality Charges on Maturity
Attractive Guaranteed Additions at different intervals
Higher additions for Higher premiums
Liquidity through partial withdrawal
Premium as low as Rs 2500 per month
Accident Benefit Rider
Tax free returns for annualized premium upto 2.5 lacs in ULIP (Finance act 2021)
Choice of premium/ risk cover/ policy and premium paying term

Who Can Apply and Eligible:-

A) DEATH BENEFITS:

Before Commencement of Risk: Fund Value
After Commencement o Risk: Highest of the following:
Basic Sum Assured reduced by any Partial Withdrawals made during the two years’ period immediately
preceding the date of death; OR
Unit Fund Value as on date of intimation of death; OR
105% of total premiums received upto the date of death reduced by Partial Withdrawal made during the two years period immediately preceding the date of death.

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B) MATURITY BENEFITS:

Fund value (plus Mortality charges, if all premiums are paid)
Refund of Mortality Charge shall not be payable in case of surrendered, discontinued or paid-up policy.

End of Policy Year Guaranteed Additions
(as percentage of one Annualized Premium) Annualized Premium less than Rs 48,000/- Annualized Premium Rs 48,0001- and above 6 3% 5% 10 6% 10% 15 12% 20% 20 15% 25% 25 18% 30%

INVESTMENT FUND TYPES:-

PREMIUM ALLOCATION CHARGES:-

CHARGES AND FREQUENCY CHARGES:-

Mortality Charge : Depending on Age and Sum at Risk, deducted monthly
Accident Benefit Charge: @40 paise (@80 paise for police personnel) per thousand Sum Assured, if opted for
Fund Management Charge
1.35% p.a. for Flexi Growth Fund and Flexi Smart Growth Fund
0.50% p.a. for Discontinued Policy Fund
Switching Charge: Rs 100 per switch. Free 4 switches in a policy year.
Partial Withdrawal Charge: Rs 100 per withdrawal
BID/OFFER Spread — Hil.
Miscellaneous Charge: Rs 100/- for any alteration during the contract eg: change in premium mode, grant of Accident Benefit Rider after the issue of the policy, etc

DISCONTINUANCE OF PREMIUMS:

If premiums are not paid before expiry of the Grace Period, then the policy shall be in a state of discontinuance.

During the 5 years lock-in period

Unit Fund Value after deducting the applicable Discontinuance Charge, shall be transferred to the Discontinued Policy Fund.

Risk cover and rider cover, if any, shall cease. Only FMC @ 0.5% shall be deducted.

If not revived, fund value is paid to policyholder at end of revival period/lock-in period/surrender, as applicable

If death occurs, fund value will be paid to the nominee

After the 5 years lock-in period

Policy shall become paid-up and reduced to paid-up sum assured.

Risk cover and mortality charges will be proportionally reduced

Rider cover will stop

If not revived, fund value is paid to policyholder at end of revival period/surrender/maturity, as applicable

If death occurs, highest of :

fund value OR

paid up sum assured less partial withdrawal (if any, during preceding 2 year period) OR

105% of premiums paid less partial withdrawal (if any, during preceding 2 year period) will be paid to the nominee

SURRENDER:-

Can be SURRENDERED anytime during the policy term.

During the 5 years’ lock-in-period:

Fund is transferred to the Discontinued Policy Fund after deducting Discontinuance charges

Only FMC shall be deducted

No risk cover and rider cover

At the end of lock-in period, fund is paid to policyholder, or to nominee on earlier death

After 5 years’ lock-in-period:

Fund Value is paid to the policyholder.

COMPULSORY TERMINATION:
If the balance in the Unit Fund is not sufficient to recover the relevant charges, the policy shall be compulsorily terminated and the balance amount in the Unit Fund, if any, shall be refunded, provided

The policy has run for at least 5 years provided and

5 full years’ premiums have been paid

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