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PLAN - 181 LIC'S MARKET PLUS W.E.F. 5-7-2006 |
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| INSURANCE TYPE |
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Unit Linked Deferred Pension Plan With or without risk cover |
| MINIMUM AGE ENTRY |
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18 YEARS (completed) |
| MAXIMUM AGE ENTRY |
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70 YEARS NBD (without life cover) |
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65 YEARS NBD (with life cover) |
| MIN. DEFEREMENT PERIOD |
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5 YEARS |
| MIN. AGE AT VESTING |
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40 YEARS LBD |
| MAX. AGE AT VESTING |
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75 YEARS LBD |
| MINIMUM SUM ASSURED |
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NIL: IF NO LIFE COVER |
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LIFE COVER: Rs, 25000 for Single Premium |
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Rs. 50000 for Regular Premium |
| MAXIMUM SUM ASSURED |
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Single Premium : Equal to Single Premium
Regular Premium : 20 times of the annualized Premium |
| MINIMUM PREMIUM |
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Rs. 10,000 for S.P. (thereafter in multiples of Rs. 1000/-)
Rs. 5,000 for Regular premium(annualized) |
| MAXIMUM PREMIUM |
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NO LIMIT |
| DAB |
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Yes, if life cover is opted |
| MODE |
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YLY, HLY, QLY & SINGLE PREMIUM |
| MODE REBATE |
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NIL |
| CEIS REBATE |
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NIL |
| POLICY LOAN |
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NO |
| NON-MEDICAL |
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GENERAL: YES, SPECIAL: YES |
| FEMALE |
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CATEGORY: I, II & III |
| NRI |
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Yes, allowed |
| AGE PROOF |
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STANDARD / NON STANDARD |
| REVIVAL |
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YES |
| BACK DATING |
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YES |
| NOMINATION |
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YES |
| ASSIGNMENT |
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NO |
| PROPOSAL FORM |
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SPECIAL FORM |
| INVESTMENT FUND TYPES |
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BOND FUND, SECURED FUND, BALANCED FUND AND GROWTH FUND |
| NAV |
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DAILY BASIS |
| SWITCHING |
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Within a given policy year, 4 switches will be allowed free of charge. Subsequent switches Shall be subject to a switching charges of Rs. 100/- |
| TOP-UP(ADDITIONAL PREMIUM) |
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In multiples of Rs. 1000/- without any limit at any time during the term of the policy |
| INCREASE / DECREASE |
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NO |
| IN BENEFITS |
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| PARTIAL WITHDRAWALS |
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NOT ALLOWED |
| REVIVAL |
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YES |
| SURRENDER (EXIT) |
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After 3 years only |
| BENEFITS |
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| (A) BENEFITS PAYABLE ON DEATH BEFORE VESTING |
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S.A. + FUND VALUE OF UNITS |
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either in a lump sum or in the form of pension. (if without risk cover, then the Fund value of units) partially as a lump sum and the balance as an annuity is also allowed. |
| (B) BENEFITS ON VESTING |
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Fund value will compulsorily be utilized to provide an annuity. (only third of the fund value may be commuted) |
