Life Insurance Corporation of India (LIC) has launched a new investment plan- LIC Index Plus Plan.

Banking & Finance

Life Insurance Corporation of India (LIC) has launched a new investment plan- LIC Index Plus Plan. This plan is a unit-linked, individual life insurance plan with a regular premium. The plan offers the benefit of savings along with life insurance coverage during the entire tenure of the policy. The plan offers life insurance coverage and savings throughout the term of the policy. The minimum age to get insured under this policy is 90 days. The maximum age has been kept at 85 years. The premium will be decided according to the basic sum assured. The sum insured for insurers between the ages of 90 days and 50 years has been kept at 7 to 10 times the annual premium. This will be for people between 90 days and 50 years old. Whereas for those aged between 51 and 60 years, the annual premium will be 7 times of the sum insured.


      Premiums can be paid on a monthly, quarterly, half-yearly or annual basis. The annual premium range will be around Rs30,000.

      The minimum policy terms are 10 and 15 years, depending on the annual premium. The maximum term has been kept at 25 years. The term of payment of the premium will be determined based on the policy term only.

      Range from Rs30000/- (yearly), Rs15000/- (half-yearly), Rs7500/- (quarterly), and Rs2500/- Monthly (NACH) depending upon the mode or premium payment frequency.

 

     


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