LIC Index Plus

1. Flexi Growth Fund

Eligibility Criteria for LIC Index Plus

The eligibility criteria that must be met in order to opt for the LIC Index Plus plan are mentioned in the table below:

Features and Benefits of LIC Index Plus

The main features and benefits of the LIC Index Plus plan are mentioned below:

1. Partial Withdrawals: In case any funds are required, partial withdrawals facility is provided.

1. Riders: Riders can be added to the policy to offer extra protection. However, an additional premium must be paid.

1. Guaranteed Additions:  Each year, a portion of the annual premium will be added to the Fund. This can help you earn more.

1. Investment Options: You can choose the type of fund to invest in. Depending on the risks you are willing to takes, various funds are available.

1. Maturity Benefit: Once the policy matures and the Life Assured survives, an amount that is equal to the Unit Fund Value will be provided.

1. Death Benefit: The death benefit that will be provided depends on when the policyholder passes away. Depending on when the policyholder passes away, either the money that was invested or the Basic Sum Assured will be provided.

1. Mortality Charges Refund: An additional benefit will be provided if the policyholder lives past the date of maturity of the policy and all the premiums have been paid.

1. Settlement Option: In case the policyholder passes away, the beneficiary can opt for the money to be returned in instalments over a period of five years.

1. Switching: The investment type can be changed during the duration of the policy. No fee will be levied for the initial four switches, post which, a fee of Rs.100 will be levied.

Exclusions of LIC Index Plus

In case the policyholder commits suicide within the first of reviving or starting the policy, the beneficiary or nominee will be provided the money that has been invested and the death certificate. The policy will end immediately and other claims cannot be made.

Different Charges Levied under LIC Index Plus

The different charges that will be levied under LIC Index Plus are mentioned below:

1. Miscellaneous Charge

1. Tax Charge
2. Discontinuance Charge
3. Partial Withdrawal Charge
4. Switching Charge Policy
5. Administration Charge
6. Fund Management Charge
7. Accident Benefit Charge
8. Mortality Charge
9. Premium Allocation Charge

LIC Index Plus Policy Details

The various details of the LIC Index Plus plan are mentioned below:

1.  Investment Fund: The policyholder can choose the fund to investment in from the two options that are provided.

1. Grace Period: In case the premium is paid every month, the grace premium is 15 days. In case the premium is paid quarterly, half-yearly, or yearly, the grace period is 30 days.
2. Free Look Period: The free look period is 30 days.