LIC Index Plus Policy 2024 with Dabule Benefits – Launched

LIC, the largest domestic life insurance company in India, has announced the launch of a new policy on Tuesday, February 6th. The policy is called LIC Index Plus, and it’s a unit-linked non-participating individual life insurance plan. The company invests through this policy to meet the long-term goals of the policyholder while providing life cover. The policy provides a double benefit of life insurance cover and savings until the end of the term.

LIC Index Plus Policy 2024

The policy is available only to domestic customers, and the eligibility age ranges from at least 90 days to 50 or 60 years, depending on the sum assured. The minimum maturity age is 18 years, while the maximum maturity age is 75 or 85.

The sum assured is 7 to 10 times the annual premium for individuals under 50 years of age, and 7 times more for individuals between 51 and 60 years of age. The policy term can be either 10 or 15 years, with a maximum of 25 years.

LIC Index Plus Policy 2024
LIC Index Plus Policy 2024

Guaranteed additions are based on the annual premium after a fixed policy term. The sales of the policy will begin on February 6th, 2024.

The minimum premium for this policy is Rs. 30,000 per year, and a minimum payment of Rs. 15000 is required for six months, Rs. 7,500 for three months, and Rs. 2,500 per month. There is no maximum investment limit, and policyholders must invest a portion of their premium in either the Flexi Growth Fund or the Flexi Smart Growth Fund.

Additionally, LIC invests in selected stocks from the NSE Nifty 100 index and NSE Nifty 50 index. Partial withdrawals are allowed as per the policyholder’s requirements, and if the policyholder is alive at the end of the policy term, the unit will pay out the fund value at maturity.

If the policyholder dies before the risk cover begins, the insurance will pay out according to the time of death. Mortality charges are subject to conditions, and policyholders can also add LIC linked accidental death benefit rider to the policy. After a lock-in period of five years, policyholders can withdraw some of the invested units.

For more information, please visit the official website of LIC India and refer to the scheme’s official notification.

*Disclaimer: Above published information is only for reference purposes, for any changes on the content we refer to visit the official website, and we are not responsible for anything.