LIC (Life Insurance Corporation ) Indias has launched new plan Wealth Plus on 9th Feb. This new unit linked insurance plan (ULIP) having a term of 8 years.
LIC Wealth Plus you will get gauranteed return of highest NAV of the first 7 years of the 8th year NAV, whichever is higher.
In first eight days LIC has earn 3 crore by LIC Wealth Plus plann. Currently per NAV cost is Rs. 10 . And main thing is that aftre eigt year when you will reciev your return market status will not affect your return :) .
If any persion break LIC Wealth Plus before eight year , payment will be on based of that time rate.
Wealth Plus plan comes with an option of choosing from either of a single premium or 3 years payment term. And in case of death during policy term, the plan returns basic sum assured plus fund value.
Main Feature of Wealth Plus
- Either 3 years premium payment term or single premium as per client’s choice.
- Gauranteed return of highest NAV of the first 7 years or the 8th year NAV, whichever is higher.
- Either 3 years premium payment term or single premium as per client’s choice.
- Risk cover of 5 times of the annualized premium or 1.25 times of single premium.
- Partial withdrawal allowed at any time after 3 years.
- Q. Is there Age lmit to purchase Wealth plus plan ?
A. IF you are in the age group of 10 to 65 years you can avail this plan by paying a minimum premium
- Q. What is the minimum (single) and minimum(yearly) premium ?
A. Minimum single premium of Rs 40,000 and Minimum Yearly premium of Rs 20,000.
- Q. Is Partial withdrawal allowed ?
A. Yes, you can partial withdrawal at any time but after 3 years.
- Q. What about Loan on Wealth plus plan ?
A. Loan is not granted in this plan as one can avail the same via partial withdrawals. The plan also does not provide for payments of top up premiums.
