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LIC Nivesh Plus is a unit-linked, non-participating, and single-premium individual life insurance plan. It offers insurance cum investment benefits that help you to stay protected and earn great returns. The plan allows the insured to monetize the investment opportunities associated with the stock market. It offers guaranteed additions at low charges. LIC allows the insured to invest in the LIC Nivesh Plus Policy through online and offline modes.
LIC Nivesh Plus Plan offers you a range of benefits including:
Minimum Age - 90 days Maximum Age - 70 years
Maximum Maturity Age - 85 years
Minimum term - 10 years Maximum term - 25 years
10 to 25 years
Annual, half-yearly, quarterly & monthly
Rs 1 lakhs to No limit
Let's understand how the LIC Nivesh Plus Plan works with a simple premium illustration.
Mr. Verma is looking for a life plan that offers him dual benefits- death benefits and maturity benefits that can help him create wealth.
His financial advisor advised him to buy the LIC Nivesh Plus. He visited PolicyX.com
Let's understand how the LIC Nivesh Plus Plan works for him with a premium illustration table.
Age of policyholder | Lump sum amount | Policy tenure | Maturity Benefits |
30 years | Rs 1 lakhs | 20 years | Rs 1,73,824 |
Here are some features of LIC Nivesh Plus:
The plan allows the insured to switch among 4 different funds during the fixed policy tenure. If the insured opts for switching, the entire fund value will get the switch to the new fund.
The plan offers the option to receive the death benefits in instalments.
The insured is allowed to surrender the policy in case of need. If you surrender the plan in the initial 5 years, the unit fund value after deduction of the discontinuance charges will be payable.
The plan comes out with a free look period of 15 days under which you are allowed to cancel the plan and get a refund (if you want).
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There are various benefits to buying the LIC Nivesh Plus Plan. Let’s understand each of them in detail:
Here is the list of documents required to buy the LIC Nivesh Plus:
Photo ID Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Age Proof (either of one) - Passport, Aadhar card, PAN card, Driving license.
Address Proof (either of one) - Utility bill, passport, voter ID, ration card.
Medical Records of the policyholder if requested.
Income Proof ( either of one) - bank statement, last three months' salary slips (if you are salaried).
You can buy the LIC Nivesh Plus official website or one of their nearest branch offices.
Visit the official website of PolicyX.com.
Click on the ‘Investment’ tab.
A new page will appear on the screen.
Fill out the form at the top of the page with the necessary details.
Select your income and city. Click on 'Proceed'.
Update your education and occupation details.
Choose your preferred plan and click on 'Buy this plan'.
Select the policy term, premium period, investment amount, and riders (if required), and then proceed to pay.
Visit the official website of Life Insurance Corporation of India.
Hover over the 'Wealth Creation'.
Click on the 'LIC Nivesh Plus'.
Click on ‘Buy Online’ and you will be redirected to a new page.
Enter your name and contact information. One of their representatives will reach out to you and discuss the quotes.
Once discussed you can make the premium payment and get the policy documents.
You can buy the LIC Nivesh Plus Plan offline by visiting one of their nearest branch offices. One of their representatives will help you buy the plan.
What’s Good Here | What’s Missing |
Death Benefits | Premium Offset |
Maturity Benefits | High sum assured rebate |
Guaranteed Additions | Auto cover continuance |
Partial withdrawals | Top-up premium |
If you are looking for a life insurance plan that can help you create wealth over time, you can consider buying LIC Nivesh Plus. This plan offers multiple benefits to the policyholders. If you are still confused about whether buying this plan is right for you or not then you can contact us at PolicyX.com.
For more info related to this plan, you can visit PolicyX.com, or call us at 1800 - 420 - 0269. Our insurance experts listen to your unique needs and suggest the best possible solution for you.
If the plan has already run for 5 years and the balance that you have in the unit fund is not sufficient to recover the required charges, the policy will be terminated and the balance in the unit fund shall be refunded.
The plan has come out with 4 fund options which include secured fund, bond fund, balanced fund and growth fund.
Yes, LIC Nivesh Plus comes out with a grace period of 15 days under which you can make the payment of due premium after the premium payment date.
LIC Nivesh Plus allowed the insured to make 4 free switches.
The plan does not offer any liquidity benefit during the first five years of the plan.
Rs.100 is the charge that you need to pay to process the partial withdrawal.
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Naval Goel is the Founder and CEO of PolicyX.com (IRDA- Approved Insurance Comparison Website). He is a CFA charter holder (USA) and FRM (GARP). He holds an MBA from IIFT, Delhi, and is also an Associate from the Insurance Institute of India. Naval is an avid investor and entrepreneur who has a deep understanding of the Indian equity market and insurance sector. He has been investing for more than 10 years now and is a CFA charter holder.
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February 5, 2023
Asia/Kolkata
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