LIC Wealth Plus (ULIP) Launched by LIC

LIC Wealth Plus (ULIP) has been Launched by LIC India today on february 9th, 2010. LIC Wealth Plus, an unit linked insurance plan (ULIP) having a term of 8 years. This plan comes with an option of choosing from either of a single premium or 3 years payment term. LIC Wealth Plus plan will be available for three months and the plan closes for sale after those initial three months. There after the funds collected will be invested in equity market, implying that the risk is only medium.

Salient features of this LIC Wealth Plus plan:

• Gauranteed return of highest NAV of the first 7 years or the 8th year NAV, whichever is higher.
• 8 years of Policy term
• Either 3 years premium payment term or single premium as per client’s choice.
• Minimum single premium of Rs 40,000 and Minimum Yearly premium of Rs 20,000.
• Risk cover of 5 times of the annualized premium or 1.25 times of single premium.
• In case of death during policy term, the plan returns basic sum assured plus fund value
• Extended risk cover for 2 years even after term end.
• Partial withdrawal allowed at any time after 3 years.
• Accident Benefit Raider (EDAB) allowed at a nominal charge of Rs 0.50 per 1000

Age Limit:

People in the age group of 10 to 65 years can avail this plan by paying a minimum premium as mentioned above. Maximum premium has no restrictions.

For Further Details, Please Visit: http://www.liclifeinsuranceindia.com/

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