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| LIC introduces Samridhi Plus | | | Early Times Report
JAMMU, Feb 24: LIC today launched a new plan ‘Samridhi Plus’, which is a guaranteed NAV plan on the new ULIP platform.
Plan offers insurance protection, safety and growth for investments. It is a unit linked plan that safeguards policyholders’ investment from market fluctuations, so that policy holders get the best of stock market through investing in Samridhi Plus fund. This plan will be available for sale for a maximum period of 3 months from date of launch.
In this product there is a guarantee of the highest NAV recorded on a daily basis, in the first 100 months of the policy, subject to a minimum of Rs 10 or the NAV as applicable on the date of maturity, whichever is higher. The guarantee will be applicable only for units available in the policyholder’s fund at the end of the policy term.
In case of death of the Life Assured within the policy term, when the cover is in full force, the nominee shall get higher of the sum assured under the basic plan and the policyholder’s fund value. However, if partial withdrawal has been made during the last two years from the date of death, the sum assured under the basic plan shall be reduced to the extent of the amount of partial withdrawals made.
Accident benefit option is also available under this plan. The benefit would be equal to the life cover up to a maximum of Rs 50 lakh, subject to certain conditions. Under this plan, the policy term is fixed for 10 years. The premiums can be paid either in a single lump sum or it can be paid regularly at yearly, half-yearly, quarterly or monthly (through ECS mode only) intervals over a limited premium paying term of 5 years. Premiums paid after allocation charge will purchase units of the Fund.
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STOCK UPDATE |
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CRICKET UPDATE |
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