Summary:
LIC’s Profit Plus (Plan No.188) is a Unit Linked Endowment Insurance Plan. Profit Plus (ULIP) is designed for the common man to enhance their savings and financial protection to their family. Four types of investment Funds are offered in Profit Plus. 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 premium paying term of 3, 4 or 5 years. The minimum premium will be Rs.10,000/-.
Single premium:
Single premium can be paid subject to a minimum of Rs.20,000/-.
Partial Withdrawals:
You may encash the units partially after the third policy anniversary subject to certain conditions.
Switching of Funds:
You can switch between any fund types for the entire Fund Value during the policy term subject to switching charges if any.
Discontinuance of premiums:
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.
Settlement Option:
When the policy comes for maturity, you may exercise “Settlement Option” and may receive the policy money in installments spread over a period of not more than five years from the date of maturity. There shall not be any life cover during this period. The value of installment payable on the date specified shall be subject to investment risk i.e. the NAV may go up or down depending upon the performance of the fund.
Eligibility Conditions and Restrictions:
1. Minimum Age at entry: 0 years (age last birthday)
2. Maximum Age at entry: 65 years (age nearer birthday)
3. Minimum Maturity Age: 18 years (completed)
4. Maximum Maturity Age: For PPT 3 years: 70 years nearest birthday. For Single Premium, PPT 4 or 5 Years: 75 years nearest birthday.
5. Minimum Policy Term: 5 years
6. Maximum Policy Term: 20 years
7. Minimum Premium: Rs. 20,000 for Single Premium and Rs. 10,000 p.a for Regular Premium
8. Sum Assured under the Basic Plan:
a) Regular premium :
Higher of 5 times the annualized premium or half of the policy term times the annualized premium.
b)Single Premium :
Minimum Sum assured : 1.25 times the single premium.
Maximum Sum assured :
If Critical Illness Benefit Rider is opted for:
• 5 times the Single premium if age at maturity is upto 55 years.
• 3 times the Single premium if age at maturity is 56 to 60 years.
• If Critical Illness Benefit Rider is not opted for:
• 5 times the Single premium if age at maturity is upto 65 years.
• 3 times the Single premium if age at maturity is 66 to 70 years.
• 2.5 times the Single premium if age at maturity is 71 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: Profit Plus Plan Table No.188 has been discontinued, please check out other similar plans below.
Hi,
I have invested in LIC’s Profit Plus, growth plan, Table No.188, Policy no.:153065936 I will be grateful if you provide the current number of units for the above fund from the time of investment in may 2008, on my e-mail address & also current Time Market Rate and value.
I had Deposited 2 Year Installment, I will deposit Installment total for 5 Years Only , as discussion with the agent at the time of investment , suggest for that.
Thanks,
sanjeev kumar sharma
You should have received your UNIT allotment details by post mail. If you not then contact your branch.
Hi,
I have invested in LIC’s Profit Plus, growth plan, Table No.188, Policy no.:883152392. I will be grateful if you provide the current number of units for the above fund from the time of investment in January 2008, on my e-mail address & also current Time Market Rate
I had Deposited 2 Year Installment, I will deposit Installment total for 3 Years Only , as discussion with the agent at the time of investment , suggest for that.
Thanks,
Rohit.S
I have LIC profit plus Growth fund having policy no. 132550078 and i have submitted 4 installments of 10000/- each as premium starting from 25/02/2008.
My first question is how much is the current value on my investment and how can i myself calculate the current value of my investment from time to time.
Sir, i have a following policy :
LIC’s Money Plus (T. no. 180)
Question – Sir 3 years will be completed of my policy on 12-02-10 & after it I want to withdraw my all policy amount. So I request you to please inform me that how many amount I can withdraw to see the current NAV value after surrender my policy. I also want to know that can I surrender the above said policy after any day from 12-02-10 or is any fix time limit & also is it possible to surrender it any nearest branch.
Sir please send me the formula to calculate my withdraw policy amount by calculation of NAV with above said unit & from where I find the update NAV value of L.I.C.
I invested in Profit Plus plan Rs.2500 QTLY on 29/06/2007 and my policy no. is 492222212. What is the current fundvalue of my plan
? Rply me in this email address.
I invested in Profit Plus plan Rs.2500 QTLY on 29/06/2007 and my policy no. is 492222212. What is the current fundvalue of my fund? Rply me in this email address.
i have taken aloan from jeevan shree1 policy rupees 91250 on 31/122007. my policy no. is 701485052. what is accrued interest as on date.
I have taken a profit plus policy for rupees 1 lakh on31/12/2007.my policy number is 703800100.what is the current value of my investment.hoe can i calculate it?after three years shall i close the policy.
I have LIC profit plus Growth fund having policy no. 103569033 and i have submitted 4 installments of 5000/- each as premium starting from 13/12/2007.
My first question is how much is the current value on my investment and how can i myself calculate the current value of my investment from time to time.
if i withdrow this policy today how much money i found from LIC
I have invested in lic’s market plus in growth fund. I will be grateful if you provide the current market rates of these funds on my e-mail address.plese send present NAV