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The Life Insurance Corporation of India (LIC) launched a new LIC Index Plus Plan on February 06, 2024. The plan is a blend of life insurance coverage and a savings mechanism, designed to cater to the financial security and growth needs of individuals. Check key details like eligibility, entry age, premium, maturity and other benefits here.

What Is LIC's Index Plus Policy? LIC's Index Plus is a unit-linked, regular premium, individual life insurance plan that combines life insurance coverage with savings throughout the policy's tenure. The plan promises guaranteed additions as a percentage of the annualised premium, to be added to the unit fund after specific policy years.

LIC's Index Plus Policy Eligibility and Entry Age The plan is inclusive, allowing participation from individuals as young as 90 days old to those nearing their 50th or 60th birthday, depending on the basic sum insured. The policy matures when the policyholder is between 18 and 75 or 85 years old, offering flexibility in planning for long-term financial goals.


LIC's Index Plus Policy Premiums And TermsThe premium structure is tailored to accommodate various age groups and financial capacities. For individuals up to 50 years old, the basic sum assured is 7 to 10 times the annualised premium, while for those between 51 to 60 years, it is fixed at 7 times. Policy terms range from 10 to 25 years, with the premium payment term being congruent with the policy duration.

LIC's Index Plus Policy Investment And Fund Options LIC’s Index Plus Plan provides two investment fund options, the Flexi Growth Fund and the Flexi Smart Growth Fund. These funds invest in a curated selection of stocks from the NSE NIFTY 100 and NSE NIFTY50 indices, aiming to optimize growth and returns.

Flexible Premium Payment Options The plan offers various premium payment frequencies to suit different budgetary needs, from Rs. 30,000 annually to Rs. 2,500 monthly via NACH. The premium amount has no upper limit, subject to the company’s underwriting decisions.

LIC's Index Plus Policy Maturity, Withdrawl And Other BenefitsAdditional Benefits and Withdrawal Options Policyholders are entitled to guaranteed additions based on a percentage of the annualised premium, enhancing the unit fund value after certain policy years. Additionally, the plan allows for partial withdrawals under specific conditions, providing financial flexibility.

Maturity and Death Benefits Upon maturity, the policyholder receives an amount equivalent to the unit fund value at maturity. The death benefit varies depending on the timing of the death, ensuring financial support for the beneficiaries.

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