LIC Profit Plus Plan: Hello, Money investors!! Are you wanted to join in LIC PRofit Plus plan? Then you are in search to get more details about Life Insurance Corporation Profit Plus Ulip Plan 188 – LIC24. We are here to provide all aspects of LIC Profit plus plan for you people. Just go through this article to get some knowledge about the plan before you are going to join in that. If you want to learn more strategies in LIC, then go to this website www.licpolicylogin.co.
Life Insurance Policy Profit Plus Plan is a linked Endowment plan where you can get Premium Payment Term is limited in a single Lump Sum or after 3, 4, 5 years. You people can choose according to your interest the level of cover within limits. What it depends on the policy is a single premium or Limited Premium contract and term it was chosen on a level of premium to agree to pay.
After you can draw your money of LIC Money Plus Ulip Plan 180, it has linked to Endowment plan where you can pay premium term in single or limited or 3,4,5 years. The amount will be same for all the years. It is different from earlier ULIP plan.
Four type of funds offers in LIC Profit Plus plan. You can pay the premium after allocation charge will pay off the Fund type. The Unit Fund is subjected to different charges and value of units it may increase or decrease. Check more details of Life Insurance Corporation Profit Plus Ulip Plan 188 – LIC24.
Life Insurance Corporation Profit Plus Ulip Plan 188
Parameters of Profit Plus Ulip Plan
- You have an age at entry with minimum 0 years and maximum 65 years.
- Maturity age will have a minimum of 18 years and maximum of 75 years.
|Premium Paying term||Policy term|
|3 and 4 years||10-20 years|
|5 years||10,15 and 20 years|
|Single premium||5 to 20 years|
- You can pay premium term for 3, 4, 5 years and also you can pay for a single term.
- You people can pay the amount in yearly, Half-yearly, ECS-monthly and single.
Benefits of LIC Profit Plus ULIP Plan
Policyholder survives the date of maturity of the amount will equal to the value of units that held in their fund is payable as maturity claim.
A policy is in Full Force:
The payment will be
- The sum assured under the basic plan.
- The value of a fund will hold in policyholder’s fund at the date of booking.
A policy is in lapsed condition:
Fund value of the units in policyholder on the date of intimation of death claim will become payable. Sum assured, or DAM sum assured is not payable.
Features of LIC Profit Plus Plan
- In this, there are 4 types of fund.
- Bond Fund
- Secured Fund
- Balanced Fund
- Growth Fund
- Allocation of premium amount will have it is divided into a unit fund and non-unit fund.
- The allocation is divided as per percentage.
- In Top Up premium there is no provision to pay.
- Recovery of charges and frequency of charges: The sum of all charges will deduct from the allocated amount.
It will calculate a Total amount of charges applicable NAV rate as per time is also applicable. The charges will be.
- Morality charge
- Accident Benefit charge
- Critical Illness Benefit Charge
- Policy Administration Charges
- Service Tax charges
Benefit Illustration for LIC Profit Plus ULIP Plan
Name of the Product: LIC’s Profit Plus
Unique Identification No. 512L245V02
Service Tax Rate: 10.30%
Sum Assured: 50000
Policy Term: 10
Premium Paying Term: 1
Mode of Premium Payment: Single
Amount of Installment Premium: 40000
Funds opted: Growth Fund
Combination: BASIC PLAN WITH LIFE COVER
Gross Yield: 10%
Net Yield: 7.96%