LIC Endowment Plus ULIP Plan No 835
The Life Insurance Corporation (LIC) of India has announced to launch the ULIP plan on 17th August 2015. It is an Endowment Plus plan no. 835 which have exclusive identification number of 512L301V01.
About LIC ULIP Plan no 835:-
⦁ The new Endowment plus Plan of LIC is a Unit Linked Assurance Plan which offers investment cum insurance during the term of policy.
⦁ The plan enables the subscriber to make decision for the amount of premium he/she would pay.
⦁ Moreover, the amount of the premium will be determined according to the premium selected.
⦁ In addition, the pre-specified percentage shall be subtracted from the premium as PAC (Premium Allocation Charges). It is taxed to meet the amount of issuing policy like distributor fee and cost of underwriting.
⦁ Furthermore, the balance investible premium will be utilized to buy units according to the selected investment fund by the subscriber.
⦁ Moreover, the units will be purchased and exchanged based on the Net Asset Value (NAV) as on the date of transaction.
⦁ Entry Age: The maximum entry age is 50 years and minimum entry age is 50 years.
⦁ Premium: The minimum premium is based on the interval of payment and it is Rs 20000 yearly and 13000 half-yearly. So, it is Rs 8000 quarterly and Rs 3000 monthly. Moreover, there is not limit for maximum premium.
⦁ Policy Term: The term of the policy will be 10 years to 20 years.
⦁ Maturity: The minimum maturity age is 18 years completed and maximum maturity age is 60 years.
Benefits Endowment Plus ULIP Plan No 835:-
If the death occurs, the amount will be payable like this,
1. On death before commencement of risk: If the death occurs before the commencement risk, an amount equal to the subscriber’s fund value quickly on the date of receipt of the allusion of death with the death certificate.
2. On death after commencement risk: If the subscriber dies after commencement of risk, an amount equal to the higher of Basic Sum Assured and Subscriber’s Fund Value is payable.
For any queries regarding LIC ULIP plan no. 835, please leave comment below!