LIC Jeevan Nivesh Plus is a unit-linked, non-participating, single premium individual life insurance plan offered by the Life Insurance Corporation of India (LIC). It combines the benefits of life insurance coverage with an investment component.
Key features and benefits of LIC Jeevan Nivesh Plus:
- Single premium payment: You pay a one-time lump sum premium to purchase the policy.
- Life insurance coverage: The plan provides life insurance coverage for the entire policy term.
- Investment component: Your premium is invested in various funds based on your risk appetite.
- Choice of investment funds: You can choose from four types of investment funds: Bond Fund, Secured Fund, Balanced Fund, and Growth Fund.
- Guaranteed maturity benefit: Upon maturity, you receive a guaranteed maturity benefit.
- Potential for bonuses: The plan may offer bonuses based on the performance of the investment funds.
- Flexibility in choosing the sum assured: You can select the sum assured at the inception of the policy.
- Online and offline purchase: You can purchase the plan online through the LIC website or offline through an LIC agent.
Eligibility criteria:
- Age at entry: 1 year to 65 years
- Minimum premium: Rs. 1,00,000
- Maximum premium: No limits
Policy term:
- 10 to 25 years
Premium paying mode:
- Single premium only
Additional features:
- Optional benefits: You can choose from various optional benefits, such as accidental death benefit, critical illness benefit, and waiver of premium benefit.
- Surrender value: You may be eligible for a surrender value if you surrender the policy before maturity.
Important considerations:
- Investment risk: The investment component of the plan is subject to market risks, and there is no guarantee of returns.
- Charges: The plan involves various charges, such as mortality charges, administration charges, and fund management charges.
- Consult a financial advisor: It is advisable to consult with a financial advisor to understand the plan’s features and benefits and determine if it is suitable for your financial needs.