Review of LIC Nivesh Plus Plan

In 2021, Mrs Geeta Sarkar invested in the LIC Nivesh Plus Plan to secure her family's financial stability in case of her unfortunate demise. This unit-linked insurance policy not only provides financial protection for her and her family but also assists in achieving long-term future objectives.

Let us explore more about the LIC Nivesh Plus Plan and understand why Mrs. Geeta chose to buy this plan.

Nivesh Plus Plan offered by the LIC of India is a unit-linked, single premium plan where the policyholder needs to make a lump sum premium payment. The plan offers the dual benefits of insurance and investment. Not only does the plan secure your and your family’s financial needs but also provides several benefits to the policyholders at affordable rates.

Benefits of LIC Nivesh Plus Plan

Below-mentioned are some of the benefits a policyholder can avail under the plan:

1. Death Benefit

   In case the policyholder dies during the policy tenure before the risk commencement begins, the nominee of the policy will receive an amount equal to the Unit Fund Value.

   If the policyholder dies after the date of risk commencement, the nominee of the policy will receive an amount that is higher than either the Basic Sum Assured or Unit Fund Value.

2. Maturity Benefit

   If the policyholder survives till the maturity date of the policy, a sum equal to the Unit Fund Value will be payable to him

3. Guaranteed Additions

   The plan offers a fixed % of the Single Premium amount which keeps getting added to the Unit Fund once the policy has completed a specific number of years. The guaranteed additions are as follows:

   • At the end of 6 years – 3%

   • At the end of 10 years – 4%

   • At the end of 15 years – 5%

   • At the end of 20 years – 6%

   • At the end of 25 years – 7%

4. Rider Benefit

   One can avail enhanced coverage by adding LIC Accidental Death Benefit Rider, provided, the plan has an outstanding term of 5 years. One can add this rider to their base policy by paying additional premiums.

5. Partial Withdrawals

   The plan allows the policyholder to partially withdraw funds any time after the fifth policy anniversary. 

6. Switching

   Nivesh Plus LIC allows the policyholder to switch between four different types of funds. In case a policyholder makes a switch to a new fund then the entire Fund Value will be transferred to the new fund.

Who is Eligible to Buy the LIC Nivesh Plus Plan?

Summing it up

The LIC Nivesh Plus Plan is a Unit Linked Insurance Plan which is designed to offer the dual benefits of both life protection and investment under the same plan. The plan is fully loaded with numerous benefits and features for individuals of all age groups. 

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