Profit Plus

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.

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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.

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  1. Sir,

    Kindly furnish me the status and value of my policy Number 443406143

  2. j.m.praveen shankar October 28, 2009 at 5:13 am

    i want to know the profit plus policy details and NAV as on date.the above said details send to my e-mail id.

  3. 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 in OCT-2009 on my e-mail address.

    & also Current Time Market Rate

    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

  4. shailendra kumar singh October 17, 2009 at 7:49 pm

    i am 24 years old. i have invested 10000 rs in market plus-1. how much lic would give me after 25 years?

  5. My profit plus Lic Policy No is 957414617, please let me know if i want to withdraw my policy with in one month, how much amount will i get in total?

  6. i am the policy holder under plan profit plus plan 188.Iwant to know that how much money i will get after maturity of this policy.My policy no is 152816530,term of policy is10year premium is Rs.20000 per annum.
    It is extremly good plan.

  7. I have invested in lic’s profit plus, fortune plus, market plus & money plus in growth fund. I will be grateful if you provide the current market rates of these funds on my e-mail address.

  8. I 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 in March-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

  9. hi i wanted the detailed about lic profit plus policy 776742811

  10. Hi,

    I had taken two LIC Profit plus in the month of Jan 07 and October 08.

    How can i know what is NAV value that time and also how can i know what is the present NAV value for those two policies.

    Thanks,
    Mohan.

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