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
hello sir,
i have purchased lic wealth plus and paid three primiums 20000 per year.i dont know how many nav qty i have also i dont know what was past record of this nav.pls kindly help me
i have paid for 3yrs and have 8246.589 units as of today. and i stop investing anymore on it. how much units will i have at the end of 7 years.
i have purchased a wealth plus on 22/3/2010 with yearly premium of Rs.20000/- . due date for final payment is 22/3/2012. i forgot to pay on that day . can i pay the premium now with out effecting the features in the policy
i have purchased a wealth plus on 22/3/2010 with half yearly premium of Rs.10000/- . due date for final payment is 22/3/2013 .total primium submit in 3year 60000 thousant pls show my surrender value. and agent says surrender value is 54000 thousant . 6000 thousant loss.
i invest rs 25000 per year in lic wealth plus.will i able to surrender after 3year 1 month
wiil i able to surrender lic wealth plus after 3years 1 month,what amount i get,i invested 25000 per year
I took wealth plus as Agent showed me big benefit picture..
i am paying Rs 40,000/- per year , i have paid 3 premiums so far but my account is showing 104900/- there is a loss of Rs 15100/- which is big amount for me as i am salaried man.
I CALL THIS AS WEALTH MINUS POLICY not wealth plus.
the NAV * points is key here
why is NAV not going beyond 10.xxxx
i had ICICI prulife policy that gave almost 50% benifit after 5 years.
i surrendered ICICI and took LIC i will never take LIC again.
I have Invested in Wealth Plus(801) @25000/- P.A
1st Year & 2nd Year I have Paid timely but 3rd year I could not pay the premium.
pls. let me know How much I will lose my investment or will my Policy be lasped ?
How much I will receive out of my two years investment.
I bought weath Plus policy at 03/03/2010 and now i was paid all my three year dues. So as per today market point of view how much i will get at the end of this policy after 7 years.
well if i invest rs. 20000/- p.a. for three years.
Policy Registration year is 2010.
what benefits i will get in return after maturity or after term of 3 years get completed. and also notify me exact or approx what amount i shuld get in future.my policy no.186357531
moblie no.9929721521
well if i invest rs. 20000/- p.a. for three years.
Policy Registration year is 27 /02/ 2010.
what benefits i will get in return after maturity or after term of 3 years get completed. and also notify me exact or approx what amount i shuld get in future.