LIC’s Pension Plus is a unit linked deferred pension plan, which provides you a minimum guarantee on the gross premiums paid. The plan is without any life cover.

LIC Pension Plus Features: You have a choice of investing your premiums in one of the two types of investment funds available. Premiums paid after deduction of allocation charge will purchase units of the Fund type chosen. The Unit Fund is subject to various charges and value of units may increase or decrease, depending on the Net Asset Value (NAV).

  Term Age Sum
Minimum 10 18 0
Maximum 67 75 0

Premium Ceasing Age : 85       Premium Ceasing Term : 61

Plan Highlights

LIC’s Pension Plus is a unique ULIP plan where the minimum rate of interest is guaranteed. This plan is excellent investment towards essential long term financial planning.

Pension Plus is in compliance with the current IRDA norms. Pension Plus is truly an innovative plan that suits your needs just too perfectly.

The features of the LIC Pension Plus plan are mentioned below:

  • A unique Unit Linked Pension Plan with guarantee on the minimum rate of interest.
  • Rate of Interest applied to gross premium.
  • Being Market Linked, the plan has possibility of getting excellent returns.
  • Due to minimum interest guarantee, you are protected against fluctuation of interest due to policies of the government in the distant future.
  • Choose any one of the 2 funds i.e. Debt (Low Risk) & Mixed (Medium Risk)
  • Free switching between funds two times every year and at a very nominal fee thereafter.
  • Top-ups facility – additional premium can be paid at anytime to invest in the funds with no upper limit.
  • Benefit on Maturity :
  1. Annuity purchased from Fund Value or Guaranteed Maturity Proceeds whichever is higher.
  2. Option to commute 1/3rd. of the Maturity Proceeds.
  • Compulsory purchase of Annuity ensures channelisation of funds for specific purpose.
  • Benefit on death – Fund Value. Nominee has the option to receive the amount in lump Sum or as Annuity.
  • Convenient modes of payment, Single Premium mode also available.
  • No surrender charges will be imposed after 5 yrs.

1. Payment of Premiums: You may pay premiums regularly at yearly, half-yearly or   quarterly or monthly (through ECS mode only) intervals over the term of the policy. Alternatively, a Single premium can be paid.

A grace period of 30 days will be allowed for payment of yearly or half-yearly or quarterly premiums and 15 days for monthly (through ECS) premiums.

2.Eligibility Conditions And Other Restrictions:
a) MinimumEntryAge- 18 years (last birthday)
b)  Maximum Entry Age – 75 years (nearest birthday)
c)  Minimum Vesting Age  – 40 years (completed)
d)  Maximum Vesting Age –  85 years (nearest birthday)
e)  Minimum Deferment Term  –  10 years
f)   Sum Assured – NIL
g)  Minimum Premium –
Regular premium (other than monthly (ECS) mode) : Rs. [15,000] p.a.
Regular premium (for monthly (ECS) mode) : Rs. [1,500] p.m.
Single premium:  Rs. [30,000] h)  Maximum Premium –
Regular premium : Rs. [1,00,000] p.a.
Single premium: No Limit

Annualized Premiums shall be payable in multiple of Rs. 1,000 for other than ECS monthly. For monthly (ECS), the premium shall be in multiples of Rs. 250/-.

1.Investment of Funds: The plan offers following two funds detailed below:

Fund Type Investment in Government / Government Guaranteed Securities / Corporate Debt Short-term investments such as money market instruments Investment in Listed Equity Shares Details and objective of the fund for risk /return
Debt Fund Not less than 60% Not more than 40% NIL Low Risk
Mixed Fund Not less than 45% Not more than 40% Not less than 15% &
Not more than 35%
Steady Income- Lower to Medium risk

The Policyholder has the option to choose any ONE out of the above 2 funds.

Contact us for Investment or Purchase a New Latest LIC New Pension Plus Product of 2010.

To view Illustrations, Examples, Presentations, Calculations Various Options of LIC Pension Plus submit your query here which is closed for sell by LIC

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