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:

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.

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