2 Replies to “How about LIC money plus…..?”

  1. This is a unit linked Endowment plan which offers investment cum insurance during the term of the policy. You can choose the level of cover within the limits, which will depend on whether the policy is a Single premium or Regular premium contract, term chosen and on the level of premium you agree to pay.

    The allocated premiums will be applied to purchase units as per the Fund type chosen. Your Unit Account will be subject to deduction of charges as specified in the Policy Conditions. The value of the units in the Unit Fund may increase or decrease, depending on the investment return of the assets representing the chosen Fund Type.

    1. Payment of Premiums: You may pay premiums regularly at yearly, half-yearly or quarterly intervals over the term of the policy. The minimum annual premium will be Rs.5,000/- increasing thereafter in multiples of Rs.1,000/-. Alternatively, a Single premium can be paid subject to a minimum of Rs.10,000/- and thereafter in multiples of Rs.1,000/-.

    2. Benefits:

    A) Death Benefit:
    Higher of Sum Assured or the Fund Value of the units held in the Policyholder’s Fund Value* shall be available as death benefit.
    *For the Life Assured of age less than 12 years before the commencement of risk, the Fund Value of units held in the Policyholder’s Fund Value shall be paid in case of death.

    B) Maturity Benefit:
    On the Life Assured surviving the maturity date of the contract, an amount equal to the Fund value of the units held in the Policyholder’s Fund Value is payable.

    3. Options:

    A) Accident Benefit Option:
    If you are above 18 years of age, you may opt for Accident Benefit equal to the amount of life cover subject to minimum of Rs. 25,000 and maximum of Rs. 50 lakh (taken all policies with LIC of India and other insurers.) In case of death by Accident, an additional sum equal to Accident Benefit sum assured shall be payable.

    B) Critical Illness Benefit Rider:
    If you are between 18 and 50 years of age, you may opt for Critical Illness Benefit equal to the life cover subject to a minimum of Rs. 50,000 and maximum of Rs. 5 lakh (including other policies with LIC of India) provided the policy term is 10 years and above. In case of diagnosis of defined categories of Critical Illness subject to certain terms and conditions, an additional sum equal to the Critical Illness Benefit

  2. YES. LIC is definately trustworthy. But my personal opinion is that go for term insurance from LIC ( for which premium is very less) and put rest of your money in following investment which will give better returns:-
    Equity Diversified MF ( SBI Contra, HDFC Growth)- Strictly SIP mode for minimum 3 yrs.
    Gold- Either physical / Gold ETF- Yearly / monthly basis For eg. On birthdays
    PPF – 8% guaranteed annual compounded returns, but locking period of 15 yrs ( Good for children marriage/ education/career)
    UTI-MF- Its ULIP.7.5 % guaranteed return after 15 yrs. here also do SIP.Get insurance also.Equity:Debt= 40:60
    LIC-ULIS – same as UTI-ULIP, But Equity:Debt=80:20

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