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Investment Plans 1272 views August 7, 2020
Unit Plans are basically the investment insurance plan in which your premium amount is invested into various funds. The company gives you the freedom to switch between funds as per your need. So, here you can see the various LIC Unit Plans that will help you to grow your wealth and they give you death and maturity benefits. Basically, there are three Unit Plans offered by LIC where the premium is invested into different funds. On the other hand, the company allows you to make a partial withdrawal during the policy term. Let’s explore the various types of Unit Plans and see their features and benefit in detail.
Table of Contents
There are three unit plans offered by LIC and you can invest your money in any of the three plans. All of them have some unique and distinctive features that might amaze you.
Particulars | Details |
---|---|
Minimum Sum Assured | 1.25 Time of the Single Premium |
Maximum Sum Assured | 10 Times of the Single Premium |
Minimum Age of Entry | 90 Days |
Maximum Age of Entry | 70 Years |
Minimum Maturity Age | 18 Years |
Maximum Maturity Age | 85 Years |
Policy Term | 10 Years to 25 Years |
Premium Paying Mode | Single-Premium Only |
Minimum Premium Amount | Rs.1 Lac |
Maximum Premium Amount | No Limit |
Particulars | Details |
---|---|
Sum Assured for the Age Below 55 Years | 10 Time of the Annualized Premium |
Sum Assured for the Age 55 Years and Above | 7 Times of the Annualized Premium |
Minimum Age of Entry | 90 Days |
Maximum Age of Entry | 65 Years |
Minimum Maturity Age | 18 Years |
Maximum Maturity Age | 85 Years |
Policy Term | 10 Years to 25 Years |
Premium Paying Term | Same as the Policy Term |
Minimum Premium Amount | · Rs.40000 for Yearly Payment · Rs. 22000 for Half-Yearly Payment Rs. 12000 for Quarterly Payment Rs.4000 for Monthly Payment |
Maximum Premium Amount | No Limit |
Particulars | Details |
---|---|
Basic Sum Assured | 10 Times of the Annualized Premium |
Minimum Age of Entry | 90 Days |
Maximum Age of Entry | 50 Years |
Minimum Maturity Age | 18 Years |
Maximum Maturity Age | 60 Years |
Policy Term | 10 Years to 20 Years |
Premium Paying Mode | Regular Premium |
Minimum Premium Amount | · Rs,20000 for Yearly Payment Mode Rs.13000 for Half-Yearly Payment Mode Rs.8000 for Quarterly Payment Mode Rs.3000 for Monthly Payment Mode |
Maximum Premium Amount | No Limit |
Funds | Investment in Government Guaranteed Securities | Short-Term investment | Investment in Listed-Equity Shares |
---|---|---|---|
Bond Fund | 60% and Above | 40% or Below | Nil |
Secured Fund | 45% and Above | 40% and Below | Between 15% to 55% |
Balanced Fund | 30% and Above | 40% and Below | Between 30% to 70% |
Growth Fund | 20% and Above | 40% and Below | Between 40% to 80% |