LICs New ULIP Plan Nivesh Plus 1

Unit Linked, Non-participating, Regular Premium Life Insurance Plan

Features of Nivesh Plus Ulip Plan

  • Available for Offline as well as Online sale
  • Minimum Premium : Rs. 40,000, Maximum Premium: No Limit
  • Basic Sum Assured (BSA):
    • Age below 55 years : Higher of, (10x AP) or (0.5x term*AP)
    • Age above 55 years : Higher of, (7x AP) or (0.25x term*AP)
  • Guaranteed Additions as a percentage of Annualized Premium (AP) shall be added to the Unit fund on completion of specific duration
    End of Policy Year Guaranteed Additions (as percentage of AP)
    6 5%
    10 10%
    15 15%
    20 20%
    25 25%
  • Death Benefit: Highest of (Basic Sum Assured) or (Policyholder’s Fund Value) or (105% of total premium paid)
  • Maturity Benefit: Policyholder’s Fund Value + Refund of total Mortality Charges
  • Policy Term : 10 to 25 years
  • Minimum Age at entry : [90] Days
  • Maximum Age at entry: [65] years
  • Minimum Maturity Age : [18] years
  • Maximum Maturity Age: [85] years

Comparison with Existing ULIP

Features LIC’s New Endowment plus LIC’s proposed Regular Premium Plan
Available for sale Offline Offline as well as Online
Minimum Premium Rs. 20,000 yearly Rs. 40,000 yearly
Basic Sum Assured Higher of

10x AP or

105% of total Premium paid

Age <55 years :

Highest of

•10x AP or 0.50*Term*AP or

•105% of total Premium paid    (*a)

Age  >=55 years :

Highest of

•7x AP or 0.25*Term*AP or

•105% of total Premium paid    (*b)

Policy admin charges 1st year-0.35%xAP(max.Rs.100 p.m.)

2ndyear-0.25%x AP(max.Rs.70 p.m.)

3rd,4th& 5th -With 3% escalation 6th onwards-Rs.52.17 p.m escalating at 3.00% p.a. therafter

Nil
FMC 0.70% for all funds 1.35% for all funds
Max. Entry age 50 years 65 years
Policy term 10 to 20 years 10 to 25 years
Max. Maturity age 60 years 85 years
Guaranteed Addition Nil On completion of specific duration from 6th year upto 25th year @ 5% to 25% of AP
Premium allocation

charges

Year               Offline sale

1st year-            7.50%

2nd to 5th year-  5.00%

Thereafter-       3.00%

Year     Offline sale Online sale

1st year-        8.00%      3.00% 2nd – 5th yr-    5.50%      2.00%

Thereafter-    3.00%       1.00%

*a= Eligible for tax exemption as per prevailing rules

*b= Does not qualify for tax exemption as per prevailing rules

One comment on “LICs New ULIP Plan Nivesh Plus

  1. Reply Chakraborty B. Apr 5,2019 12:48 PM

    When nivesh plus starts?

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