Features and Benefits of LIC’s Nivesh Plus
1. Market linked returns along with insurance coverage with a one time premium
2. Flexibility- a) Option to chose Basic Sum Assured as per insurance need vis a vis invest
need trade off of investor from 1.25 times of S.P or 10 times of S.P
b) Option to choose between any 4 funds based on risk profile
c) Switch between any 4 funds with 4 switches allowed free of charge during a given policy
year which policyholder can utilize according to market or interest rate volatility to maximize
returns
d) Facility to partially withdraw the units at any time after the fifth policy anniversary subject
to certain conditions and charges.
d) Settlement Option – _Option available to receive the death proceeds in installments.
e) Option to opt for Accidental Death benefit Rider
f) Option to purchase both online and offline
3. Transparency -a)All the charges on policy like premium allocation charges. Mortality
charges, Fund Management charges etc. are declared in advance to increase transparency
b) Issue of Unit Statement-Periodical statement of accounts to be issued to policyholders each
year disclosing the actual charges levied and the fund value at the beginning and end of the
year.
4. Low Premium Allocation charges- For Offline sale it is 3.30% , for online sale only 1.50%
5. Mortality charge- During the policy term mortality charge will depend upon the Sum at
Risk i.e the difference between the B.S.A and Unit Fund Value as on the date of deduction of
charge., after deduction of all other charges ad shall be deducted only if , the BSA is more
than the unit fund value on the date of deduction.
6. No policy administration charge under the plan.
7. Guaranteed Additions- G.A as a percentage of SP shall be added to the Unit Fund on
completion of specific duration of policy years.
8. Nil Bid/Offer spread.
9. Liquidity – _a) Partial withdrawal b) Surrender
10. Assignment allowed under the plan.