LIC Index Plus Policy, Read About Examine Eligibility And Benefits

LIC Index Plus Policy, Read About Examine Eligibility And Benefits

A new LIC Index Plus Plan was introduced by the Life Insurance Corporation of India (LIC) on February 06, 2024. The plan aims to meet the needs of individuals seeking financial security and growth through integrating life insurance coverage with a savings mechanism. Verify important information here, including eligibility, maturity, premium, entry age, and other perks.

What Is LIC’s Index Plus Policy?

The Index Plus individual life insurance plan from LIC is a unit-linked, regular premium plan that offers savings during the policy’s term in addition to life insurance coverage. Guaranteed additions, represented as a percentage of the annual premium, are provided by the plan and will be contributed to the unit fund following certain policy years.

Eligibility for LIC’s Index Plus Policy and Entry Age

The program is open to everyone; depending on the basic sum covered, users can be as young as 90 days old or as close as 50 or 60 years old. The insurance offers flexibility in long-term financial goal planning when it matures, often between the ages of 18 and 75 or 85.

LIC’s Index Plus Policy Premiums And Terms

The premium structure is designed to meet the needs of different age groups and budgets. The basic sum insured is 7–10 times the annual premium for those under 50, and 7 times the annual premium for people 51–60 years of age. The premium payment time aligns with the insurance length, and policy terms vary from 10 to 25 years.

LIC’s Investment and Fund Options under the Index Plus Policy

The Flexi Growth Fund and the Flexi Smart Growth Fund are the two investment fund alternatives offered by LIC’s Index Plus Plan. These funds invest in a carefully chosen range of equities from the NSE NIFTY 100 and NSE NIFTY50 indexes to maximise growth and returns.

Flexible Options for Premium Payment

The plan provides multiple premium payment frequencies (from Rs. 30,000 yearly to Rs. 2,500 monthly via NACH) to meet varying financial limitations. Subject to the underwriting choices of the firm, there is no maximum limit to the premium amount.

The Maturity, Withdrawal, and Other Benefits of LIC’s Index Plus Policy

Extra Advantages and Withdrawal Choices

After specific policy years, policyholders are entitled to guaranteed additions that increase the value of the unit fund, depending on a percentage of the annualized premium. The plan also offers financial flexibility by allowing partial withdrawals under certain circumstances.

Benefits of Maturity and Death

The policyholder receives money equal to the unit fund value at maturity when the insurance matures. The beneficiaries are guaranteed financial assistance, with the death benefit varying according on the time of death.


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