LIC Nivesh Plus

Eligibility Criteria for LIC Nivesh Plus

Entry age

Minimum Age: 90 days; Maximum Age: 70 years

Maturity age

Maximum Maturity Age - 85 years

Policy tenure

Minimum Term: 10 years; Maximum Term: 25 years

Premium payment term

10 to 25 years

Premium payment frequency

Annual, half-yearly, quarterly & monthly

Sum assured

Rs 1 lakhs to No limit

Who can buy this plan

Eligibility criteria pulled straight from the policy wording.

Benefits of LIC Nivesh Plus

There are various benefits to buying the LIC Nivesh Plus Plan. Let’s understand each of them in detail:

• Death Benefits: On the death of the insured, the nominee will be liable to receive the death benefits. If death occurs before the date of commencement of risk, an amount equal to the unit fund value will be paid. If death occurs after the date of commencement of risk, an amount higher than the basic sum assured or unit fund value is payable.

• Maturity Benefit: If the insured survives until the maturity date, they will receive an amount equal to the unit fund value as maturity benefit.

• Guaranteed Additions: LIC Nivesh Plus Plan offers guaranteed additions. It is a fixed percentage of the single premium.

• Partial Withdrawals: The plan allows for partial withdrawals after completing 5 years of the policy. It can be in the form of a fixed amount or a fixed number of units. For a minor, partial withdrawal is allowed after they turn 18 years of age.

Documents Required for LIC Nivesh Plus

Keep these documents handy when applying for LIC Nivesh Plus.

Exclusions of LIC Nivesh Plus Plan

• If the policyholder commits suicide within 12 months of policy purchase, no death benefits will be offered to their family members. In such a case, either 80% of the premiums paid to date or the surrender value acquired to date, whichever is higher, will be paid.

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Frequently Asked Questions

The 6 most-asked questions about LIC Nivesh Plus, answered.