LIC Flexi Plus

March 22, 2021

LIC Flexi Plus (Table No. 811) not only provides lump sum benefit on the death of policyholder but also the maturity benefit irrespective of the survival of the Policyholder. This policy provides protection and long-term savings both at the same time.

Features at glance :

Flexibility term 10-20 years
Flexibility premium paying mode
Fund types: Debt Fund and Mixed Fund
Partial withdrawals in case of emergency
Anyone between 18-50 years old can buy this plan.
Flexible premium Rs.15000-Rs.1,00,000
10 times sum assured of your annual premium

Premium:
You may pay premiums regularly at yearly, half-yearly, quarterly, or monthly (through ECS mode).

Eligibility Conditions And Restrictions for LIC Flexi Plus:

Minimum Age at entry: 18 years (last birthday)
Maximum Age at entry: 50 years (nearest birthday)
Maximum Maturity Age: 60 years (nearest birthday)
Policy Term: 10 to 20 years

Partial Withdrawals: You may encash the units partially after the fifth policy anniversary and provided all due premiums have been paid subject to the following:

Partial withdrawals may be in the form of a fixed amount or in the form of a fixed number of units.
Partial withdrawal shall be allowed subject to a minimum balance of two annualized premiums in the Policyholder’s Fund.

Fund Types:

Debt fund
Mixed Fund

Debt Fund:

Investment in Government / Government Guaranteed Securities / Corporate Debt: Not less than 60%
Short-term investments such as money market instruments: Not more than 40%
Investment in Listed Equity Shares: Nil
Details and objective of the fund for risk /return: Low risk

Mixed Fund

Investment in Government / Government Guaranteed Securities / Corporate Debt: Not less than 45%
Short-term investments such as money market instruments: Not more than 40%
Investment in Listed Equity Shares: Not less than 15% & Not more than 25%
Details and objective of the fund for risk /return: Steady Income –Lower to Medium risk

Also Read Jeevan Nidhi - Pension Plan

Premium:

Mode	Minimum (Rs.)	Maximum (Rs.)
Yearly	15,000	100,000
Half-Yearly	10,000	50,000
Quarterly	5,000	25,000
Monthly (ECS)	2,000	8,000

Premium Allocation Charges

Premium	Allocation Charge
1st Year	7.50%
2nd to 5th Year	5.00%
Thereafter	3.00%

Mortality Charge:

Age	25	35	45	50
Rs.	1.36	1.66	3.73	6.29

Fund Management Charge:

0.50% p.a. of Unit Fund for “Debt” Fund
0.60% p.a. of Unit Fund for “Mixed” Fund

Policy Administration Charge:
Policy Year   Policy Admin Charge (per month)
1st Year   Rs. 50
2nd Year   Rs. 41.20
3rd Year   Rs. 42.44
4th Year   Rs. 43.71
5th Year   Rs. 45.02
6th Yr onwards   Rs. 34.78 in 6th year escalating at 3% p.a. thereafter.

In case, you discontinue the policy, here are the charges:

Where the policy is discontinued during the policy year	Discontinuance charges for the policies having annualized premium up to Rs. 25,000/-	Discontinuance charges for the policies having annualized premium above Rs. 25,000/-
1	Lower of 15% * (AP or FV) subject to a maximum of Rs. 2500/-	Lower of 6% * (AP or FV) subject to a maximum of Rs. 6000/-
2	Lower of 7.5% * (AP or FV) subject to a maximum of Rs. 1750/-	Lower of 4% * (AP or FV) subject to maximum of Rs. 4000/-
3	Lower of 5% * (AP or FV) subject to a maximum of Rs. 1250/-	Lower of 3% * (AP or FV) subject to maximum of Rs. 3000/-
4	Lower of 3% * (AP or FV) subject to a maximum of Rs. 750/-	Lower of 2% * (AP or FV) subject to maximum of Rs. 2000/-
5 and onwards	NIL	NIL

Sum Assured under the LIC Flexi Plus Plan:

10 times your annual premium or 105% of the total premiums paid including any premiums which have fallen due but not paid, whichever is higher.

Example: If 30 years old Mr. Raj buys Flexi Plus for 10 years term and pays a yearly premium of Rs.15,000/- he will get the sum assured of Rs.1.5lakh.