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
If i invest 2000/- per month for 3 years,
1. Can i surrender 37th month?
2. If i surrender what NAV i can expect (present or highest of 3yrs)
3. If i withdraw partially how much max% i can? to continue life risk
1. Yes, you can surrender Wealth Plus policy after 3 years.
2. If you surrender than NAV on surrender date will be considered. There is no surrender charges.
3. You need to maintain a minimum Rs.40,000 balance
1.How many units to be alloted for 50000 single premium?
2.what is the risk ammount for 50000/ single premium?
3.what isthe minium period for surrenderd?
1. It will depend on the day you invest and NAV on that day.
2. It would be 62500/- to 250000 depending on your age.
3. You need wait for 3 years if you want to surrender Wealth plus plan. There is no surrender charges under LIC Wealth Plus.
1.what is the full form of NAv?
Net Asset Value = NAV
i want invest 40000 one time what is the benfit after (8 years)
LIC wealth plus will give you highest NAV guarantee.
2 years extended life cover.
income tax benefit etc
I want to invest money for my mom- she is 56yrs old.if i invest Rs.20.000.per year for 3 yrs. what ‘s benifits after 7yrs completed? or what;s benefits after the maturiy? or if i invest Rs.100000 for single premium. what;s the benefit’s after 7yrs for pension?
LIC wealth Plus in not a pension plan. Its a ULIP (Share Market Related). Return depends on Stock market. You will get the highest NAV in 7 years or 8th year whichever is higher. You also get extended life cover. If you need money in future you can partially withdraw it or surrender whole policy.
Wealth Plus is good plan for investment purpose.
LIC wealth plus is ULIP plan with guaranteed highest NAV in 7 year or 8th year whichever is higher. The maturity amount depends on highest NAV in next 7 or 8 years.
well if i invest rs. 20000/- p.a. for three years/
what benefits i will get in return after maturity or after term of 7 years get completed. and also notify me exact or approx what amount i shuld get in future.
You may get 10lacs or you may also get 2lacs . Wealth Plus is a ULIP plan so return will depend on stock market performance. You will get guaranteed highest NAV.
pleace send the detailsabout(lic table no801)
thank you
mohammed azim khan
(acc yanbu cement co)
yanbu
saudi arabia
What details you need for Wealth plus policy?
KINDLY EXPLAIN in detail the policy administration charges in LIC wealth plus plan (801).Whether the charges remains the same irrespective of premium amount and the increase of 3% will be on what amount.Please clarify.
For Wealth Plus, policy admin chgs. 60/- per month 1st yr.
25/- per month 2nd yr.
25/-+3% per month 3rd yr. onwards.
From 3rd year onwards, 3% of what? (fund value, SA)
What is this guarantee chgs. 0.35% of NAV? and how it is calculated? When it will be deducted?
Appreciate your contribution.
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Share you views/ reviews about wealth plus policy.
Please send all the details about Table No. 801. Thanking You
What details do you need?
what is the NAv prise/rate for today ?ihave purchased Wealth plus Scheme on 19/03/2010 rs 40,000/- at present ilike to submitted for sale of my wealth plus scheme My policy number is 577948141