Wealth Plus from LIC is an unit linked plan having a term of 8 years and with a Payment term of 3 years or Single premium.
Wealth Plus Plan will be available for three months from 9th February.
Age Group: 10 to 65
Premium: Rs40,000 (and above) for three years
Wealth Plus Plan guarantees to pay you the highest NAV reached in the first 7 years of its term or the 8 th year NAV which ever is higher.
Wealth Plus Plan comes with an extended life cover for a period of 2 years after end of the term.
There are no surrender charges in this plan. You can surrender even within three years, but the amount will be only paid after three years.
Under Wealth Plus Plan partial withdrawals are allowed after 3yrs, withdrawals can be made twice in a year after three years from commencement of your plan. No Top-ups allowed
As maturity benefit you are offered the highest NAV for your units in the fund, if you complete the term of 8 years under the plan.
You can avail an accident rider benefit, by paying @ Rs.0.50 per thousand risk cover.
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Tarun Bansal is an Individual life insurance agent working for India's largest life insurance provider LIC of India. offering suitable life insurance plans as per your immediate and future requirements.