Money Plus 1

Money Plus 1 Summary:
LIC Money Plus 1 plan no. 193 is a unit-linked (ULIP) Endowment plan with regular premium paying term which offers investment cum insurance during the term of the policy. You can choose the level of cover within the limits, which will depend on the level of premium you agree to pay. Four types of investment Funds are offered in Money Plus 1. The Policyholder has the option to choose any ONE out of the following 4 funds.  Bond, Secured, Balanced, and Growth.

Features:

Payment of Premiums:
You may pay premiums regularly at yearly, half-yearly, quarterly, or monthly (ECS) intervals over the term of the policy. The minimum annual premium will be Rs.5,000/- increasing thereafter in multiples of Rs.1,000/-. The minimum monthly (ECS) premium will be Rs. 1000/- increasing thereafter in multiples of Rs. 250/-.

Partial Withdrawals:
You may encash the units partially after the third policy anniversary subject to the following conditions.

1. In the case of minors, partial withdrawals shall be allowed from the policy anniversary coinciding with or next following the date on which the life assured attains majority (i.e. on or after 18th birthday).
2. Partial withdrawals may be in the form of a fixed amount or in the form of a fixed number of units.
3. For 2 years period from the date of withdrawal, the Sum Assured under the Basic plan shall be reduced to the extent of the number of partial withdrawals made.
4. Under Regular Premium policies where less than 3 years’ premiums have been paid and further premiums are not paid, partial withdrawals shall not be allowed.
5. Under Regular Premium policies where at least 3 years’ premiums have been paid, partial withdrawal will be allowed subject to a minimum balance of two annualized premiums in the Policyholder’s Fund Value.

Switching of funds:
You are allowed to switch from one fund to another i.e. Bond funds to Growth fund. 4 switches will be allowed free of charge, subsequent switches in that year shall be subject to a switching charge of Rs. 100 per switch.

Discontinuance of premiums and lapse policy:
If premiums are payable either yearly, half-yearly, quarterly, or monthly (ECS) and the same have not been duly paid within the days of grace under the Policy, the Policy will lapse. A lapsed policy can be revived during the period of two years from the due date of the first unpaid premium.

Eligibility Conditions And Restrictions for Money Plus-1:
1. Minimum Age at entry: 0 (age last birthday)
2. Maximum Age at entry: 65 years (age nearer birthday)
3. Minimum Maturity Age: 18 years (completed)
4. Maximum Maturity Age: 75 years (age nearer birthday)
5. Minimum Policy Term: 5 years
6. Maximum Policy Term: 30 years
7. Minimum Premium: Rs.5,000 p.a.
8. Sum Assured under the Basic Plan:
a) Minimum Sum Assured:
5 times the annualized premium
b) Maximum Sum Assured :
i) 30 times of the annualized premium if age at entry is upto 45 years
ii) 20 times of the annualized premium if age at entry is 46 to 60 years
iii) 10 times of the annualized premium if age at entry is 61 years and above

Cooling off period:
If you are not satisfied with the “Terms and Conditions” of the policy, you may return the policy to LIC of India within 15 days.

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.


Update: Money Plus 1 has been discontinued. Please check other ULIP Plans.

132 thoughts on “Money Plus 1”

  1. Sir, my policy num. 734706827 in LIC Money plus-I plan . I would likesurrender this policy. so I want know the current NAV and surrender money.
    my yearly premium is 10000. date of policy issue-11/11/2008. awaiting for ur reply through mail

  2. Dear Sir,

    I want current status on my policy no:645438243 money plus update please.

    Thanks & Regards,
    Suraj.

  3. I want to know the status / growth of LIC money plus scheme and My policy number is 718193112. Please send me through mail. Awaiting for immediate reply. Thanks U

  4. sir
    i joined money plus police in 2007 i paid 3times 5000 Rs left 5years now please tell me how much i get now

  5. SIR
    I WOULD LIKE TO KNOW THE CURRENT VALUE OF MY MONEY PLUS POLICY MY POLICY NO. 201510999 WHAT IS THE PRESENT NAV AND HOW MANY UNITS HAVE I EARNED

  6. M. Md.Musthafa Hussain

    Sir,

    I have invested in Money Plus policy(Plan 180). Pl.send me the current nav amount & status of the Policy Nos. as follows.

    Policy No. 754437481
    Policy No. 754770378

    Can i receive the nav amt. of the 2 Policies daily thorugh my E-mail ID & My mobile No.9942686667 & 9842589310 or by SMS.

    ThankU Sir,

  7. sir tell me the status and parsent value of my poliyce no.114856266 in money plus plan no.180

  8. my policy no.is 695041625 in lic’s money plus 1. i would like to know the current status of this policy. thanking you

  9. Sir,
    i am S.C. Srivatava, seeking my policy status as on date. my policy no. are 217516860 (Market Plus Plan), 215769951(Money Plus) and 234123030(Money Plus)

  10. Sandeep Jagdale

    Never invest your money in LIC of INDIA. This company is ok for repay our money but very bad in Customer Service. They just wnt to sale their product & dont want to give Service after sales. Very poor & uneducated staff. & about AGENTS they always gives FALSE STATEMENT GIVES WITH THE INTENTION OF DECEIVING.
    BE AWARE FROM THIS ‘D’ Category company. Only plus point is this is Government company & Fund returns is assured with WORST SERVICE.

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