LIC of India launches 'Wealth Plus' plan

Looking to the demands of guaranteed benefits and unit linked policies depends on share market LIC has decided to begin 'Wealth Plus' close-ended plan. Zonal Manager GB Pandey informed media that this plan has guaranteed fund value. Other features of the plan are -
The plan would open on February 9 for a maximum period of three months. It is a ULIP with term for 8 years provided that life covers also. At the end of policy term and the policy is in full power, payment of fund value will be made based on the highest NAV over the first 7 years of the policy or the NAV as applicable at the end of the policy terms whichever is higher.
Guarantee will be applicable only for payment to be made at the end of the policy terms - 8 years. There will be a complete life cover for 2 years after finishing point of policy term. Premium payment under this plan is limited to single or 3 years. With this plan accident benefit facility is also available. In case of death of policy holder during policy term and the policy is in full force, the nominee shall get the sum assured under the basic plan along with the policyholders fund value.
In case of death after the policy term but before the failing of the extended life cover period, the nominee will receive the sum assured under the basic plan.
Lock in period for this policy is 3 years and it can be surrendered only during the policy terms after achievement of third year. The minimum premium is Rs 20000 for three years term policy and there is no limit on maximum premium.
For More Information About Insurance Policy.
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