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LIC Profit Plus | LIC Life Insurance
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LIC Profit Plus | LIC Life Insurance
LIC profit plus is a unit linked endowment plan where the PPT or the premium payment plan is limited to a single sum of amount more than 3, 4 and 5 years. When the insurance policy gets developed the policy holder can exercise resolution option and can receive the policy money in installments. The installments will be available over a period not more than 5 years from the planned date of maturity of the term.
LIC profit plus does not provide any life cover during this period. The value of the payable installment is a subject to investment risk because the NAV value may go up and down according to the presentation of the fund.
The premiums of this insurance plan are payable at annually, half yearly, quarterly and monthly installments. The minimum premium is Rs 10000/- and alternatively a single premium can be paid to a minimum of Rs 20000/-.
LIC profit plus is a Plan NAV or Net Asset Value of the company and the details of profit plus are given below:
BOND FUND
* Date of Launch – 23.08.2007
* Basic Value Unit – 10
* NAV as on date – 12.6049
* Repurchase Value – 12.6049
* Sale Value – 12.6049
SECURED FUND
* Date of Launch – 23.08.2007
* Basic Value Unit – 10
* NAV as on date – 11.9763
* Repurchase Value – 11.9763
* Sale Value – 11.9763
BALANCED FUND
* Date of Launch – 23.08.2007
* Basic Value Unit – 10
* NAV as on date – 12.4693
* Repurchase Value – 12.4693
* Sale Value – 12.4693
GROWTH FUND
* Date of Launch – 23.08.2007
* Basic Value Unit – 10
* NAV as on date – 10.8967
* Repurchase Value – 10.8967
* Sale Value – 10.8967
Certain other features are also available with this plan like partial withdrawals, switching between the fund types, and discontinuance of the premiums due to death of the policy holder or maturation of the policy, in case of critical illness or due to many other reasons.
The features also include revival, cooling off, reinstatement, settlement options, assignment, exclusions etc. |
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