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.
Dear Sir
please give my policy details . no.555676759 and current NAV of the fund Lic’s profit plus plan 188
Santosh Kumar Sinha
Reply
have invested in lic’s profit plus, policy No.217820213 started from 10/07/2008 I want to know that how much money i will get after maturity of this policy and when it will get matured. plz send me all the useful information about this policy. on my term of policy is 5 year premium is Rs.10000 per annum. details send to my e-mail id.
It is extremely good plan.
Gaurishankar Jaiswal
Sir/madam .
I have a account on your LIC Profit Plus bearing policy No.784009357.
I want to know current status of above mentioned policy [Profit Plus Plan No 188]. Kindly send me full details and present status the following email address.
let me know the current NAV of the said policy .
So kindly furnish the detail of same .
With Thanks
anish
I have invested 47000 in LIC Profit plus Jan 2008. I need to know the NAV on this.Please let me know how to find out.
Pawan
the policy no.142288923 of lic profit plus the name of Shri karan chand S/O sh tara chand , please sent the full details of premium due and nest date of premium due could be mentioned in clear please.
please give my policy details . no.393875536
I am the policy holder under plan profit plus plan 188. started from 25/02/2008 I want to know that how much money i will get (lumpsum) after maturity of this policy and when it will get matured. plz send me all the useful information about this policy on my mail,My policy no is 196858675,term of policy is5year premium is Rs.20000 per annum.
It is extremely good plan.
Required detailed information of profit plus, how much returns will get after maturity.( as per forecast of LIC)
Here is Profit Plus Information. The expected return would be approx 6-10%. Fill this form if you want to apply for an LIC Policy: https://mypaisa.in/apply
have invested in lic’s profit plus, Table No. 188. I will be grateful if you provide the current market rates for the above fund for the time of investment till OCT-2009 on my e-mail address.
My policy nos. a) 985079160, b)985079153
& also Current Time Market Rate
I had Deposited 2 Year Installment,
Thanks
how can i know the growth rate of fund
plan:(188) profit plus
date: 29/2/08
trans no: 10863
Please check the NAV page.