LIC’s PENSION PLUS with effect from 2nd September 2010
LIC Pension Plus is a unique UNIT Linked pension plan where a minimum rate of interest of 4.5% is confirmed and guaranteed. Also after maturity, one third of the corpus can be withdrawn as a lumpsum amount and the remaining two-thirds would be paid in either monthly or half-yearly installments (Pension) after maturity, which would be decided by the policy holders. The plan is without any life cover during the deferment term of the policy.
Minimum Term:
The Minimum maturity period/term for LIC Pension Plus plan is 10 years.
Age Limit:
LIC Pension Plus is open for anyone between the age of 18 to 75 years.
Mode of Premium Payment:
Premiums can be paid at yearly, half yearly, quarterly or monthly (through ECS mode only) or a single premium.
Premium Limit:
The minimum regular premium is Rs.15000 per annum (Except ECS Mode) while the maximum allowed for regular premium is Rs 1,00,000/-
For the ECS payment mode:
The minimum premium is Rs 1500 per month.
Single Premium:
The minimum single premium is Rs.30000 and There is no limit on Maximum one time premium.
Top-up Premiums:
Top up facility is available under LIC Pension Plus plan which enables you to pay additional premiums in multiples of Rs 1000/- without any limit at anytime, during the term of the policy.
Death Benefit:
The Policyholder’s Fund Value shall be payable either in a lump sum or as an annuity, as desired by the nominee.
Survival Benefits:
On surviving to the date of vesting, the higher of Policyholder’s Fund Value or Guaranteed Maturity Amount.
Vesting Age Limit:
Minimum Deferment Term allowed is 10 years.
Minimum Vesting Age is 40 years while the Maximum Vesting Age allowed is 85 years.
After Maturity Benefit:
Even after the maturity one third of the capital can be withdrawn as a lump sum amount. The remaining two-third amount will be paid as per the policy of policy holders either in monthly or half-yearly installments.
Fund Type:
The Pension Plus plan is available in two options — Debt fund and Mixed fund.
1. Debt Fund: Not less than 60 per cent of the corpus would be invested in government securities, and remaining 40 per cent would be invested in money market instruments.
2. Mixed Fund: Investment in government securities not be less than 45 per cent, and 40 per cent into money market instruments and 15-35 per cent into equities.
Fund Switching:
Two free switches per policy year is allowed free of charge.
How to Apply for LIC Of India’s New Pension Plus Plan?
Contact your nearest Life Insurance Corporation Of India (LIC of India) Branch/ LIC Agent. Or
Fill the Application form to apply online. (Mumbai only)
LIC Of India SMS Alert:
Receive LIC Of India Policy updates on your Mobile . Click here: MyLICindia SMS Alert
Note:
The above is the product summary giving the key features of the plan. This is for illustrative purpose only. This does not represent a contract and for details please refer to your policy document.
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My D.O.B: 14/07/1978.Supose i pay 30,000 PA 10yrs scheme.so i want to be start in my45age period how much getting monthly pension amount also have my spouse pension.so pls explain or send me details via my mail. tks…..
Reply
Sir,
My Date of Birth – 19.01. 1965
I am interested in buying LIC Pension Plus Plan .
I want to invest Rs. 3,00,000 as single premium . Duration is for 15 years under mixed fund category.
How much amount I get as pension at the end of 15 years? Kindly let me know.
Thanks.
Reply
Dear Sir,
My age in 35 and i want to draw 3000 p\m as pension after 15 years so please send me details and i want to paid single preium.
Reply
my date of birth is 14-06-1963.I would like to know about pension plus scheme with one time payment benifit
Reply
i want detail information about pention plus
Reply
Dear Executive,
My Date of Birth is 10/01/1975 . If I want to do it for 10 years @15000 PA.
1. What would be the return?
2. What would be my pension amount and how many year I will get that pension?
3. Would the policy be more beneficial for long term? how long?
4. What is the premium paying Term (Min & Max).
Give me a comparative table for short and long term investment in this scheme.
Thanks
Yogesh
Reply
Suresh Reply:
December 27th, 2010 at 2:20 pm
Please contact 9441951415 Hyderabad I will give you all compelted details
Reply
Dear Executive,
Pls mail me the presentation of Newly Launched Plan like Pension Plan. pls revert is it posibble.
Thanks
Yogesh
Reply
My d.o.b is 22/8/1973 . if I want to do it for 10 years @1500 p m what would be the return, what would be my pension amount? Would the policy be more beneficial for long term? how long? Give me a comparative table for short and long term investment in this scheme.
Reply
Give me Details of Single Premium:
The minimum single premium is Rs.30000 and There is no limit on Maximum one time premium.
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Pls send detailed Illustration on my email id. My age is 30 yrs.
Reply