Pension Plus Plan 803

Pension Plus Plan 803 – ULIP Based

LIC Pension Plus is a unit-linked deferred pension plan, which provides you a minimum guarantee on the gross premiums paid. The plan is without any life cover. After maturity, one-third of the corpus can be withdrawn as a lump sum amount and the remaining two-thirds would be paid in either monthly or half-yearly installments after maturity, which would be decided by the policyholders.

Minimum Term:
The minimum term for the Pension Plus plan is 10 years.

Mode of Premium Payment:
Premiums can be paid yearly, half-yearly, quarterly, or monthly (through ECS mode only) or a single premium.

Premium Limit:
The minimum regular premium is Rs.15000 per annum (Except ECS Mode) while the maximum allowed for regular premium is Rs 1,00,000/-

For the ECS payment mode:
The minimum premium is Rs 1500 per month.

Single-Premium:
The minimum single premium is Rs.30000 and There is no limit on the Maximum one-time premium.

Top-up Premiums:
The top-up facility is available under the LIC Pension Plus plan which enables you to pay additional premiums in multiples of Rs 1000/- without any limit at any time, during the term of the policy.

Death Benefit:
The Policyholder’s Fund Value shall be payable either in a lump sum or as an annuity, as desired by the nominee.

Survival Benefits:
On surviving to the date of vesting, the higher of Policyholder’s Fund Value or Guaranteed Maturity Amount.

Fund Type:
The Pension Plus plan is available in two options — Debt fund and Mixed fund.

1. Debt Fund: Not less than 60 percent of the corpus would be invested in government securities, and the remaining 40 percent would be invested in money market instruments.

2. Mixed Fund: Investment in government securities is not less than 45 percent, and 40 percent into money market instruments and 15-35 percent into equities.

Fund Switching:
Two free switches per policy year are allowed free of charge.

Eligibility  Conditions  And  Other  Restrictions for Pension Plus:

  1. a)  Minimum Entry Age – 18 years (last birthday)
    b)  Maximum Entry Age – 75 years (nearest birthday)
    c)  Minimum Vesting Age  – 40 years (completed)
    d)  Maximum Vesting Age –  85 years (nearest birthday)
    f)  Sum Assured – NIL

Premium Allocation Charges:

  • For Single premium policies:  3.3%
  • For Regular Premium: First Year 6.75% 2nd to 5th Year 4.50% thereafter 2.50%
  • Allocation charge for Top-up: 1.25%

Update: LIC Pension Plus Plan No.803 Has Been 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.

10 thoughts on “Pension Plus Plan 803 – ULIP Based”

  1. SUPRIO CHATTERJEE

    i need rs.20000/-per months as a pension.how many invent to fulfill the pension rs.20000/-. year of term 10 years or 15 years.

    suprio chatterjee

  2. I am working in KSA.My age is 40 years.I would like to join one of your pension plan.I don’t know anything about it.my aim is I need 20,000/- per month.hw can I join this and howmuch I need to Invest.I am planing t back after 5 years.
    So I need your help for this.

  3. vijay kumar raghav

    Iam investing LIC’s Pension plan 30000 single premium for 20 year. How much pension we get monthly and second if I want complete amount how mugh

    Thanks

  4. MY QUESTION IS IF A LUMSUM AMT SHOULD BE PAID, WHT AMT IT SHOUULD BE FOR MY PENSION PLAN. IAM AGED 36, AND WHT AGE IWILL GET M

  5. Krishnadas Chattopadhyay

    Is annuity pension payment after maturity recieved monthly/yearly taxable in case of Jeevan Suraksha or Jeevan suraksha 1?

  6. My grand children i.e. a Baby Boy & a Baby Girl are one month old. They are born in USA and residing there. My son is working in the USA company on H1B1 visa. Kindly let me know whether my son can cover his children under table 184/185/0r 194.

  7. sk shabeer hussain

    please send link to see daily nav of profit plus 188
    i want to know more about its past progress

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