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LIC’s Index Plus is a Unit Linked, Non-Participating, Regular Premium, Individual Life Insurance plan which offers life insurance cover cum savings throughout the term of the policy.

LIC’s Index Plus is a non-participating product and hence the policy is not entitled for any share in surplus (profits) during the term of the policy

This Plan can be purchased Offline through Licensed agents, Corporate agents, Brokers, Insurance Marketing Firms

BROCHURE
ENQUIRY

LIC’s Index Plus Plan Benefits

Death Benefit

Death Benefit:

On death of the Life Assured before the Date of Maturity (including during Grace Period), provided policy is in-force, then

On death of Life Assured before the Date of Commencement of Risk:
An amount equal to the Unit Fund Value as on date of intimation of death shall be payable.

On death of Life Assured after the Date of Commencement of Risk:
An amount equal to the highest of the following shall be payable
• Basic Sum Assured reduced by Partial Withdrawals, if any, made
during the two years period immediately preceding the date of death; or,
• Unit Fund Value as on date of intimation of death; or
• 105% of the total premiums received upto the date of death reduced

Refund of Mortality Charges:

On Life Assured surviving the stipulated date of maturity provided all due premiums under the policy have been paid, an amount equal to the total amount of mortality charges deducted in respect of life insurance cover shall be payable along with the Maturity Benefit. The total amount of Mortality charges shall not include any
extra amount chargeable under the policy due to underwriting decision and tax charges levied on the mortality charges, if any

Refund of Mortality Charge shall not be payable in case of surrendered or discontinued policy.

Survival Benefits
Maturity Benefits

Maturity Benefits

On Life Assured surviving the date of maturity, an amount equal to Unit Fund Value as on date of maturity shall be payable.

Guaranteed Additions:

Guaranteed additions shall be payable only under an in-force policy
i.e. if all due premiums have been paid. Guaranteed Additions as a
percentage of one Annualized Premium, as mentioned in the table
below shall be added to the Unit fund on completion of specific duration of policy years provided all due premiums have been paid and the policy is in-force.

Participation in Profits

Eligibility Conditions

i Basic Sum Assured Age at Entry Basic Sum Assured
From [90] Days (completed) •  7 times of Annualized Premium or
To • 10 times of
[50] years (nearer birthday) Annualized Premium
From [51] years (nearer birthday) 7 times of Annualized premium
To
[60] years (nearer birthday)
Mode/Premium Payment frequency Amount (in ` )
Yearly 30,000/-
Half-yearly 15,000/-
Quarterly 7,500/-
Monthly (NACH) 2,500/-
Premium shall be in multiples of 1000/- for Yearly mode, 500/- for Half-yearly mode and 250/- for Quarterly and Monthly (NACH).
iii Maximum Premium No Limit. The maximum premium allowed to each individual will be subject to underwriting decision as per the Board Approved Underwriting Policy.
iv Minimum Age at entry [90] Days (completed)
v Maximum Age at entry Basic Sum Assured Maximum Age at entry
10 times of Annualized Premium [50] years (nearer birthday)
7 times of Annualized Premium [60] years(nearer birthday)
vi Minimum and Maximum Policy Term Annualized Premium Minimum Term Maximum Term
Less Than 15 25
` 48,000
` 48,000 and above 10 25
vii Premium Paying Term Same as Policy Term
viii Premium Paying Mode Yearly/Half Yearly/Quarterly/Monthly (NACH)
ix Minimum Maturity Age [18] years (Completed)
x Maximum Maturity Age Basic Sum Assured Maximum Maturity Age
7 times of Annualized Premium 85 years(nearer birthday)
10 times of Annualized Premium 75 years (nearer birthday)

Payment Options Available

Mode of Instalment payment Minimum instalment amount
Monthly Rs. 5,000/-
Quarterly Rs. 15,000/-
Half-Yearly Rs. 25,000/-
Yearly Rs. 50,000/-

Exclusion:

Suicide Exclusion:

  • Notwithstanding the provision of benefits payable on death mentioned in Para 2.A., the provisions related to claim payment in case of death due to Suicide shall be subject to the conditions as specified herein under:
  • • In case of death due to suicide, within 12 months from the date of commencement of the policy or from the date of revival of the policy, the Nominee or Beneficiary of the policyholder shall be entitled to the Unit Fund Value available on the date of intimation
    of death along with death certificate. The Corporation will not entertain any other claim by virtue of this policy and the policy
    shall terminate.
    • Any charges and Tax levied thereon other than Fund Management Charges (FMC) and Tax charges levied on FMC recovered subsequent
    to the date of death shall be added back to the Unit Fund Value as available on date of intimation of death.
    • Any Guaranteed Additions added subsequent to the date of death shall be recovered from the Unit Fund.
    This clause shall not be applicable in case age at entry/age at revival of the Life Assured is below 8 years and death benefit as mentioned in
    Para 2.A shall be payable.
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