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Are you looking for a smart investment option that combines life insurance with market-linked returns? Look no further than LIC Nivesh Plus, a unique Unit Linked Insurance Plan (ULIP) offered by Life Insurance Corporation of India. As the Best LIC Agent in Kolkata, I’m excited to walk you through everything you need to know about this innovative product.
Table of Contents
Key Takeaways
- LIC Nivesh Plus offers a unique combination of life cover and market-linked returns.
- Choose from four fund options based on your risk appetite.
- Benefit from Guaranteed Additions to boost your fund value.
- Stay invested long-term to maximize returns.
- Regularly review and adjust your investment strategy.
What is LIC Nivesh Plus?
LIC Nivesh Plus (UIN: 512L317V01) is a Unit Linked, Non-Participating, Single Premium, Individual Life Insurance Plan. It offers a perfect blend of insurance protection and investment opportunities, making it an attractive choice for those seeking long-term financial growth.
Key Features:
- Single premium payment
- Choice of four investment funds
- Flexibility in choosing Sum Assured
- Guaranteed Additions to boost your returns
- Option to add Accidental Death Benefit Rider
Why Choose LIC Nivesh Plus?
- Dual Benefits: Get life cover and investment opportunities in a single package.
- Flexibility: Choose from four fund options based on your risk appetite.
- Guaranteed Additions: Enjoy additional benefits at specific policy milestones.
- Tax Benefits: Avail tax advantages under Section 80C and 10(10D) of the Income Tax Act.
- Partial Withdrawal: Access your funds after the 5th policy year.
Understanding the Investment Options
LIC Nivesh Plus offers four fund options to suit different investor profiles:
| Fund Type | Risk Profile | Investment Objective |
|---|---|---|
| Bond Fund | Low | Steady income through fixed income securities |
| Secured Fund | Low to Medium | Balanced income through equities and fixed income securities |
| Balanced Fund | Medium | Balanced growth through equal proportion of equities and fixed income |
| Growth Fund | High | Long-term capital growth primarily through equities |
Choose the fund that aligns with your financial goals and risk tolerance.
Guaranteed Additions: Boosting Your Returns
LIC Nivesh Plus rewards long-term investors with Guaranteed Additions:
- 3% of Single Premium at the end of 6th policy year
- 4% of Single Premium at the end of 10th policy year
- 5% of Single Premium at the end of 15th policy year
- 6% of Single Premium at the end of 20th policy year
- 7% of Single Premium at the end of 25th policy year
These additions can significantly enhance your fund value over time.
Eligibility and Policy Terms
- Minimum Entry Age: 90 days (completed)
- Maximum Entry Age:
- 70 years (for Option 1: 1.25 times Sum Assured)
- 35 years (for Option 2: 10 times Sum Assured)
- Policy Term: 10 to 25 years (subject to maximum maturity age)
- Minimum Premium: Rs. 1,00,000
- Maximum Premium: No limit (in multiples of Rs. 10,000)
Charges Under LIC Nivesh Plus
Understanding the charges is crucial for making an informed decision:
- Premium Allocation Charge:
- Offline sale: 3.30%
- Online sale: 1.50%
- Mortality Charge: Deducted monthly based on the Sum at Risk
- Fund Management Charge: 1.35% p.a. for all funds (0.50% p.a. for Discontinued Policy Fund)
- Switching Charge: First 4 switches free per year, Rs. 100 per switch thereafter
- Partial Withdrawal Charge: Rs. 100 per withdrawal
- Discontinuance Charge: Varies based on the year of discontinuance and premium amount
Always consider these charges when evaluating the potential returns of your investment.
How to Make the Most of LIC Nivesh Plus
- Assess Your Risk Appetite: Choose the fund option that matches your risk tolerance and financial goals.
- Stay Invested Long-term: Benefit from the Guaranteed Additions by maintaining your policy for at least 15-20 years.
- Monitor and Switch: Regularly review your fund performance and switch between funds if needed (first 4 switches per year are free).
- Utilize Partial Withdrawals Wisely: After the 5th policy year, you can make partial withdrawals for urgent financial needs.
- Consider the Accidental Death Benefit Rider: Enhance your protection by opting for this additional cover.
Why Choose Me as Your LIC Agent in Kolkata?
As the Best LIC Agent in Kolkata, I offer:
- Expert guidance tailored to your financial needs
- Clear and transparent communication
- Prompt assistance with policy servicing and claims
- Regular updates on new LIC products and policy changes
To explore LIC Nivesh Plus or any other LIC plans, call me directly at 7980031260.
Remember, LIC Nivesh Plus is a long-term investment product designed to help you achieve your financial goals while providing life coverage. As your trusted LIC Agent in Kolkata, I’m here to guide you through every step of your investment journey. Don’t hesitate to reach out at 7980031260 for personalized advice or to start your LIC Nivesh Plus policy today!
Frequently Asked Questions
Is LIC Nivesh Plus suitable for risk-averse investors?
While LIC Nivesh Plus offers fund options with varying risk levels, including the low-risk Bond Fund, it’s important to understand that as a ULIP, it carries market risks. However, the Guaranteed Additions provide some level of assured returns.
Can I switch between funds? How often?
Yes, you can switch between the four fund options. The first 4 switches in a policy year are free, after which a nominal charge of Rs. 100 per switch applies.
What happens if I need to surrender the policy before 5 years?
If surrendered within the 5-year lock-in period, the fund value less discontinuance charges will be transferred to the Discontinued Policy Fund. This amount will be paid out at the end of the lock-in period.
Are there any tax benefits with LIC Nivesh Plus?
Yes, you can avail tax benefits on the premium paid under Section 80C and the maturity proceeds under Section 10(10D) of the Income Tax Act, subject to prevailing tax laws.
How do Guaranteed Additions work in LIC Nivesh Plus?
Guaranteed Additions are a percentage of your Single Premium, added to your fund value at specific policy milestones (6th, 10th, 15th, 20th, and 25th year). These additions enhance your overall returns.
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