Nivesh Plus (Plan No 849) – Features and Benefits
Death Benefit – In case of death of policyholder before the risk commencement of the policy, amount equal to unit fund value will be paid to the nominee. In case of death of the policyholder after the risk commencement of the policy, Basic Sum Assured or unit fund value, whichever is higher, is paid to the nominee.
Maturity Benefit - In case the policyholder survives the policy term, amount equal to the unit fund value is paid.
Guaranteed Additions - Nivesh Plus comes with guaranteed additions
| End of policy Term |
% Guaranteed Addition |
| 6 |
3 |
| 10 |
4 |
| 15 |
5 |
| 20 |
6 |
| 25 |
7 |
Partial Withdrawal – partial withdrawals are allowed after completing 5 years of policy term. It is in the form of fixed number of units. In case of minors, partial withdrawals are allowed after age 18.
Switches – Plan allows 4 switches during the policy term - Debt, Secured, Balanced and Growth.
Lock-in-period – The plan has a lock-in-period of 5 years
Surrender Value - On surrender of the policy within the 5 year lock-in, unit fund value minus the discontinuation charge is paid. On surrender of policy after the 5 year lock-in period, entire unit value is paid.
| LIC's SIIP (Plan No 852) |
| Minimum Entry Age |
90 days |
| Maximum Age |
65 years |
| Minimum Maturity Age |
18 years |
| Maximum Maturity Age |
85 years |
| Basic Sum Assured |
Age below 55 – 10 times of annualized premium
Age above 55 years – 7 times of annualized premium |
| Policy Term |
10-25 years |
| Premium |
Rs. 40,000 per annum |
| Lock-in-period |
5 years |
LIC's SIIP (Plan No 852) – Features and Benefits
Guaranteed Additions - LIC's SIIP comes with guaranteed additions
| End of policy Term |
% Guaranteed Addition |
| 6 |
5 |
| 10 |
10 |
| 15 |
15 |
| 20 |
20 |
| 25 |
25 |
Maturity Benefits - In case the policyholder survives the policy term, amount equal to the unit fund value is paid.
Death Benefits - In case of death of policyholder before the risk commencement of the policy, amount equal to unit fund value will be paid to the nominee. In case of death of the policyholder after the risk commencement of the policy, Basic Sum Assured or unit fund value or 105% of the total premium paid, whichever is higher, is paid to the nominee.
Partial Withdrawal – Partial withdrawals are allowed after completing 5 years of policy term. It is in the form of fixed amount or fixed number of units. In case of minors, partial withdrawals are allowed after age 18.
Switches – Plan allows 4 switches during the policy term - Debt, Secured, Balanced and Growth.
