ULIPs serve a dual purpose, offering both protection and flexibility in terms of investment. LIC is perhaps the preferred life insurance partner in the country and it offers a number of ULIP plans to cater to the needs of the hard working individual.
While life in itself is unpredictable, death is something which is assured. We might not be able to foresee how things pan out in the future, but it always pays dividend to prepare for it and a ULIP protection plan can go a long way in securing the future of your loved ones.
LIC offers 6 ULIP plans in India, each one designed to fulfil specific requirements. Each of these plans are mentioned below.
Fortune Plus: This is an investment plus insurance plan which helps your money grow over a period of time. Individuals can choose a cover which they feel will suffice their needs, making it flexible and convenient.
Features and Benefits: Some of the major attractions of Fortune Plus are mentioned below.
Child Fortune Plus: Children are the future of our nation and Child Fortune Plus is designed to ensure that your children do not face any financial problems. This specially crafted plan is perfect for parents who have children up to the age of 17 years.
Features and Benefits: Some of the main features and benefits of Child Fortune Plus are mentioned below. An individual is entitled to a death benefit, maturity benefit and surrender value.
Market Plus I: Planning for retirement can be hard, which is what makes Market Plus I ideal for individuals who wish to secure their retired phase of life. This is a unit linked deferred pension plan with an option for life cover.
Features and Benefits: Some of the major features and benefits of Market Plus I are mentioned below.
Money Plus I: The Money Plus I plan offered by LIC serves a dual role, acting both as an investment plus insurance scheme. This endowment plan helps you utilise your income smartly, ensuring you reap the benefit of smart planning.
Features and Benefits: Some of the main features and benefits of Money Plus I are mentioned below.
Profit Plus: This unit linked endowment plan is ideal for individuals who wish to have flexibility in terms of their finances while staying protected
Features and Benefits:; Some of the major features of Profit Plus are mentioned below.
New Endowment Plus: This unit linked non-participating endowment plan serves dual roles, offering an insurance cover and investment benefits to individuals. It ensures that one gets a healthy mix of protection and savings, helping you utilise your money effectively.
Features and Benefits
GST of 18% is applicable on life insurance effective from the 1st of July, 2017
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