LIC's Market Plus 1 Unit Linked Insurance Plan Table No 191
LIC's Market Plus - I (Plan 191): , launched on 17th
June 2008, is a Unit Linked Deferred Pension plan where the policy holder can choose the plan with or without risk cover.
Benefits
On death of the policyholder within the deferment term where Life cover is opted for and is in force, the nominee is eligible to get the Sum Assured under the Basic Plan together with the Policyholder's Fund value
On death of the policyholder where the policy is taken without life cover, then the Policyholder's Fund value, is payable to the nominee.
On the policyholder surviving upto the date of vesting, the Policyholder's Fund value will compulsorily be utilised to provide an annuity based on the then prevailing immediate annuity rates under the relevant annuity option.
Top-Up (Additional Premium)
The policyholder can pay Top-up in multiples of Rs.1,000/- without any limit at anytime during the term of the policy.
Eligibility & Conditions:
For Basic Plan without Life Cover
a)Minimum Sum Assured : NIL.
b)Maximum Sum Assured : NIL.
c)Minimum Premium : Rs. 5,000 p.a. for Regular premium (other than monthly (ECS) mode)
Rs. 1,000 p.m. for monthly (ECS) mode, increasing thereafter in multiples of Rs. 250. thereafter in multiples of Rs. 250.
d)Maximum Premium : No Limit.
e)Minimum Entry Age : 18 years last birthday.
f)Maximum Entry Age : 74 years nearest birthday.
g)Minimum Deferment Team : 5 years.
h)Minimum Vesting Age : 40 years completed.
i)Maximum Vesting Age : 79 years completed.
Annualized premiums (other than monthly (ECS)) is payable in multiples of Rs. 1,000.
For more Detail on Market Plus1 ULIP Unit Linked Insurance Plns NAV based Charts Review Premium Calculation Todays Value Calculate Switch over Fund Options etc. Visit Review on Market Plus
Showing posts with label LIC Market Plus ULIP. Show all posts
Showing posts with label LIC Market Plus ULIP. Show all posts
Sep 7, 2008
LIC New Market Plus Pension Plans Life Insurance Policy Detail
LIC's Market Plus - I Pension Plan(Plan 191): , launched on 17th
June 2008, is a Unit Linked Deferred Pension plan where the policy holder can choose the plan with or without risk cover.
BenefitsOn death of the policyholder within the deferment term where Life cover is opted for and is in force, the nominee is eligible to get the Sum Assured under the Basic Plan together with the Policyholder's Fund value
On death of the policyholder where the policy is taken without life cover, then the Policyholder's Fund value, is payable to the nominee.
On the policyholder surviving upto the date of vesting, the Policyholder's Fund value will compulsorily be utilised to provide an annuity based on the then prevailing immediate annuity rates under the relevant annuity option.
For more Detail Visit Market Plus Detail
June 2008, is a Unit Linked Deferred Pension plan where the policy holder can choose the plan with or without risk cover.
BenefitsOn death of the policyholder within the deferment term where Life cover is opted for and is in force, the nominee is eligible to get the Sum Assured under the Basic Plan together with the Policyholder's Fund value
On death of the policyholder where the policy is taken without life cover, then the Policyholder's Fund value, is payable to the nominee.
On the policyholder surviving upto the date of vesting, the Policyholder's Fund value will compulsorily be utilised to provide an annuity based on the then prevailing immediate annuity rates under the relevant annuity option.
For more Detail Visit Market Plus Detail
Jun 27, 2008
LIC launch Market Plus-1 a Unit Linked Pension Plan
Life Insurance Corporation (LIC), country's largest insurer, launched Market Plus-1, a unit linked endowment plan, as a follow up of their previous Market Plus policy. The zonal manager stated the response is encouraging.
LIC has already sold around 8,287 policies under this plan, where the total premium amounted to Rs 19.18 crore within the first 7 days from its launch.
Consequently, LIC was targeting growth 50 per cent in the first year premium income (FYP) on the back of the new products like money plus and MP-1. During 2007-08, FYP stood at Rs 4,102 crore out of the total premium income of Rs 13,128 crore in the Eastern region.
The surplus of LIC from the zone surged to Rs 6193 crore, up 30 percent from Rs 4740 crore reported in 2006-07. LIC is targeting 50 per cent increase in the surplus in the current fiscal.
LIC is planning to launch 2-3 new plans this year including a pension plan.
LIC emphasized that they need to focus more on the traditional products like Jeevan tarang, Jeevan Anand and Jeevan Saathi, some of the conventional products which assures stable income in the long run compared to ULIP products.
LIC will be revamping these traditional products, popularizing them and giving them better publicity to achieve the target 70:30 mix between unit-linked and conventional plans. This is in tandem with their decision to balance their product portfolio with more conventional policies.
The corporation has also granted a loan of Rs 1,583.26 crore, against government securities to the government of West Bengal for state development, which is the second highest amount granted by LIC, after Maharashtra where the total loan amounted to Rs 1,622.58 crore.
Avdhoot Investment
LIC has already sold around 8,287 policies under this plan, where the total premium amounted to Rs 19.18 crore within the first 7 days from its launch.
Consequently, LIC was targeting growth 50 per cent in the first year premium income (FYP) on the back of the new products like money plus and MP-1. During 2007-08, FYP stood at Rs 4,102 crore out of the total premium income of Rs 13,128 crore in the Eastern region.
The surplus of LIC from the zone surged to Rs 6193 crore, up 30 percent from Rs 4740 crore reported in 2006-07. LIC is targeting 50 per cent increase in the surplus in the current fiscal.
LIC is planning to launch 2-3 new plans this year including a pension plan.
LIC emphasized that they need to focus more on the traditional products like Jeevan tarang, Jeevan Anand and Jeevan Saathi, some of the conventional products which assures stable income in the long run compared to ULIP products.
LIC will be revamping these traditional products, popularizing them and giving them better publicity to achieve the target 70:30 mix between unit-linked and conventional plans. This is in tandem with their decision to balance their product portfolio with more conventional policies.
The corporation has also granted a loan of Rs 1,583.26 crore, against government securities to the government of West Bengal for state development, which is the second highest amount granted by LIC, after Maharashtra where the total loan amounted to Rs 1,622.58 crore.
Avdhoot Investment
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