LIC Wealth Plus (Table No.801) is an investment plan for limited time offer!
LIC Wealth Plus Summary:
LIC’s Wealth Plus (Table No.801) is a ULIP insurance plan that protects your investment from market fluctuations so that your investments are protected in financially volatile times. Wealth Plus offers a Guarantee of the highest NAV in the first 7 years of the policy, subject to a minimum of Rs.10. The policy term is 8 years.
Wealth Plus Features:
1. Guaranteed Highest NAV of 7 years.
2. Very Attractive Returns.
3. Life cover.
Risk cover of 5 times the annualized premium or 1.25 times of single premium.
4. Minimum Yearly premium Rs. 20,000 for three years term policy and there is no limit on maximum premium.
5. Tax benefits.
6. Partial withdrawals allowed:
Two Partial withdrawals are allowed in a policy year subject to certain conditions.
7. Limited Period Offer.
8. Extended life cover:
A unique feature of the Plan is the extended life cover for 2 years after the completion of the policy term of 8 years.
9. Maturity Benefit:
At the end of the policy term and the policy is in full force, 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.
Death benefit:
In case of death during the policy term, the nominee shall receive Sum Assured under the basic plan together with the Policyholder’s Fund Value as a death benefit. In case of death of the Life assured after the policy term, but before the expiry of the extended period, the nominee shall receive the Sum Assured under the Basic Plan.
Accident Benefit:
Accident Benefit Option equal to the amount of life cover subject to a minimum of Rs. 50,000 and a maximum of Rs. 50 lakh is available subject to certain limits and conditions. Accident Benefit charge at the rate of Rs. 0.50 per thousand Accident Benefit Sum Assured per policy year will be levied every month.
Modes of Premium Payment for LIC Wealth Plus :
The premium can be paid either in a Single premium (One-time investment) or for 3 years regularly at yearly, half-yearly, quarterly, or monthly (through ECS).
Minimum Premium:
Minimum Premium for 3 years Premium Paying policies is Rs.20,000 p.a. whereas for Single premium policies, it is Rs.40,000 For Monthly (ECS) mode the minimum premium is Rs.2,000 p.m.
Eligibility for LIC’s Wealth Plus:
The minimum Age at entry is 10 years (age last birthday)
The maximum Age at entry is 65 years (age nearer birthday).
Premium Top-ups:
Premium Top-ups are not allowed.
Surrender Value:
LIC Wealth Plus can be surrendered only during the policy term. The surrender value, if any, is payable only after the completion of the third policy anniversary both under the Single and 3 years Premium Paying Term contract. The surrender value will be the Policyholder’s Fund Value at the date of surrender. There will be no Surrender charge. The policy can not be surrendered during the extended life cover period.
Download LIC Wealth Plus details in pdf format. For Wealth Plus Comparison table.
LIC Wealth Plus NAV:
LIC’s NAV changes every day depending on the market as it’s linked to the share market. LIC Wealth Plus is alike mutual fund scheme that focuses on long-term growth i.e. LIC Wealth Plus was launched with a 3 year lock-in period, LIC Wealth Plus also offers an option of exit after three years based on returns obtained from the scheme.
Lic Wealth Plus maturity amount calculator:
Example: If Mr. Nilesh buys Wealth Plus today at Rs.10 NAV ( He will get Approx. 4700 Units for a one-time investment of Rs.50000 *Calculated on Rs.10 NAV) and the market goes up to Rs.50 per NAV in 5 years and then again market collapse and comes down to Rs.20 In this case the highest NAV is Rs.50 and hence your maturity amount will be 4700×50=Rs.2,35,000/- (No. of units x Highest NAV)
Last Date: 9th May 2010
(Plan Discontinued)
Note:
The above is the product summary giving the key features of the plan. This is for illustrative purposes only. This does not represent a contract and for details please refer to your policy document.
Komal Jeevan
i have invested Rs.40,000/- in the wealth plus LIC plan through the LIC agent. from where i could get the details of the plan??
My colleague Mr.Gawali has purchased wealth plus policy from ur sheogaon(A’Nagar-Maharashtra)br.on 29th March,2010.Its policy No. is 958427342.the mode of payment is 1/2 yrly.Premium Rs.10000/- Plan& Term was : 801/08.Sum Assured Rs.1,00,000/-.Premium Details
1st on 29-03-2010,2nd 09-11-2010,3rd & 4th on 22-02-2012,5th on 17-03-2012 & 6th on 04-10-2012.Each deposit was of Rs.10000/- except the amt.deposited on 22-02-2012.It was Rs.20000/- Thease r the details.Now he wants to withdraw his amount from this plan.U r requested to pl mail me the amount which will have to receive. Thank u with regards.
Mahensra S Phaltane.
My wife had invested Rs.20,000/- per annum for three years in Wealth + scheme. How much amount will get after the maturity period. 24/3/2012 was policy closing date.
I invested Rs. 50000 in LIC Wealth plus in May 2010. Today units shown are 4386.105. Units are continuously reducing on monthly basis against mortality charges. So far highest NAV is Rs. 11.05. Is it Wealth Minus or what?
My Wealth Plus policy no. 579138890. I have completed 3 years and paid 60,000 (20000 P.A).
If I withdraw (Surrender) how much money I get.
I had invested Rs 1,00,000/- per annum fr 3 years in the LICs Wealth PLus PLan on 30/04/2010. As per my statement dated 31/10/2012 the bal units in my account is 27317 units and the NAV today is 10.49. Does that mean as of today the value of my policy is around Rs286555/- that is much lesser than my invested amount. LIC can you please explain on what basis was this scheme advertised to fetch 12% ROR. What is the amount i will get if i surrender the policy today.
My Wealth Plus policy no. 746301802. I have completed 3 years and paid 60,000 (20000 P.A).
If I withdraw (Surrender) how much money I get.
My policy no# 578480693
Please confirm why no of units reduce daily basis & confirm no of units purchase in my policy ?
Regards…Sourav
Sir,
I invest 60000.00 on 2010..please give me details of amount if i withdraw now.
sir, please quote my policy no. 572123419 of wealth plus updated and how i withdraw my invested amount as soon as possible