Buy LIC policy online hassle free
LIC ULIP Plans
LIC ULIP Plans offered by the Life Insurance Corporation of India are designed to provide the combined benefits of life protection and wealth creation. These plans secure your family’s financial future and help you fulfil future milestones by growing your wealth.
Benefits of LIC Plans —
Tax saving under Sec 80C & 10(10D)^
High returns market link plans
Sovereign guarantee as per Sec 37 of LIC Act
We are rated++
9.7 Crore
Registered Consumer
51
Insurance Partners
4.9 Crore
Policies Sold
Now Available on Policybazaar
Grow your wealth with LIC
-
Home
-
Life Insurance
-
LIC
- LIC ULIP Plans
What are LIC ULIP Plans?
LIC Unit Linked Insurance Plans, commonly known as LIC ULIPs, offer the dual benefit of insurance cover and investment, which helps in wealth enhancement. The part of the premium paid toward the ULIP plans provides life coverage. In contrast, the remaining amount is then invested in the market in a range of multiple securities, thus accumulating enough wealth to help you fulfil your future financial goals.
ULIP Plans Offered by LIC
The Life Insurance Corporation of India offers two ULIP plans to fulfill the policyholder's insurance and investment needs. Take a look at the below LIC ULIP plans and choose the one suited for you:
| Plans | Entry Age | Maximum Maturity Age | Minimum Sum Assured | Policy Term | |
| LIC’s Nivesh Plus | 90 days-70 years | 85 years |
|
10-25 years | |
| LIC Index Plus | 90 days-60 days | 85 years | 7 times of Annualized Premium | 10-25 years |
Why Should You Buy LIC ULIP Plans?
Below mentioned are 4 benefits that one may avail by investing in ULIP Plans by LIC. Take a look:
-
Partial Withdrawals
LIC ULIP plans allow the policyholder to partially withdraw units after the completion of the fifth policy year, provided all due premiums are duly paid.
-
Flexibility
LIC ULIP plans offer policyholders four funds: Secured Fund, Bond Fund, Growth Fund, and Balanced Fund.
-
Enhanced Coverage with Rider
The LIC ULIP plan offers LIC's Linked Accidental Death Benefit Rider. If the policyholder dies from an accident, the company will offer the Accident Benefit Rider Sum Assured in a lump sum.
-
Free Switching
The LIC of India has a feature of free switches during a policy year wherein 4 switches are free of charge. For subsequent switches during that policy year, one needs to pay the Switching Charge of Rs.100 per switch.
How to Buy LIC ULIP Plans from Policybazaar?
By following the below steps, you can buy LIC ULIP plans from Policybazaar:
Step 1: Fill in the form available at the top of this page with your name and contact number.
Step 2: Click on the “View plans” button
Step 3: Enter your age and your residing city
Step 4: On the next page, you can then customize the amount and tenure of your investment as per your requirements
Step 5: Once done, click on the plan you want to buy and proceed to make a payment
Summing it up
Unit Linked Insurance Plans(ULIPs) offered by the Life Corporation of India offer the dual benefit of insurance cover and investment, which helps in overall wealth enhancement. The part of the premium paid toward the LIC ULIP plans is used to provide life coverage, & the remaining amount is then invested in the market in a range of multiple securities, thus accumulating enough wealth to help you fulfill your future financial goals.
LIC Resources
|
LIC Online Services |
LIC Investment Plans |
LIC Other Plans |
FAQs
-
Q: How to check the policy status of LIC ULIP plans?
Ans: Online registered users can check the policy status by logging into the e-portal. Alternatively, they can visit the nearest branch personally to find out their policy status. -
Q: Do LIC ULIP Plans offer tax benefits?
Ans: Yes, one can avail a tax deduction of up to Rs. 1.5 Lakhs on the premium paid towards the ULIPs under sections 80C & 10D of the Income Tax Act, 1961. -
Q: Is there any lock-in period under LIC ULIP plans?
Ans: Yes, the ULIP Plans by LIC come with a 5-year lock-in period, which means you cannot withdraw your money before that time. -
Q: What are the charges involved in a LIC ULIP Plan?
Ans: LIC ULIP Plans may involve various charges, such as premium allocation charges, policy administration charges, mortality charges, fund management charges, and surrender charges. These charges are deducted from the policyholder's premium and impact the overall returns on the investment.
Different types of Plans
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Tax benefit are for Investments made up to Rs.2.5 L/ yr and are subject to change as per tax laws.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
++Returns are 10 years returns of Nifty 100 Index benchmark
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
LIC Plans
LIC Amritbaal
LIC Index Plus
LIC Jeevan Dhara II-872
LIC Jeevan Utsav
LIC Jeevan Kiran
Show More Plans
LIC of India articles
Recent Articles
Popular Articles
10 Dec 2024
4 min read
Prime Minister Narendra Modi has launched the Bima Sakhi Yojana
10 Dec 2024
3 min read
The Bima Sakhi Yojana, launched by Prime Minister Narendra Modi
20 Nov 2024
3 min read
LIC Yuva Term Plan Calculator is an online tool designed to
15 Oct 2024
2 min read
The LIC Index Plus plan is a ULIP offered by the Life Insurance
15 Oct 2024
3 min read
The LIC Index Plus combines the benefits of insurance and
