Profit Plus - Withdrawn Plan | Other Useful Plan by LIC

The profit plus is a unit linked Endowment plan where the premium payment term (PPT) is limited to single lump sum, or uniformly over 3, 4 or 5 years.

You can pay premium yearly, half yearly, quarterly, and monthly. The term of this plan is
3, 4 as well as 5 years.

Minimum age for this plan is 18 years.
Maximum age for this plan is 65 years
Minimum age for maturity is 18 years
Maximum age for maturity is 75 years.
The minimum term of this insurance policy is premium paying term is 3-4 years
The maximum term of insurance policy is premium term is 10-20 years.
Rs 1500 p.m. for a monthly premium mode
Rs 15000 p.a. for Limited premium Paying Term policies
Rs 40,000 for a single premium policy
5 times the Single premium if age at maturity is upto 55 years.
If Critical Illness Benefit Rider is not opted for:
5 times the Single premium if age at maturity is upto 65 years.
3 times the Single premium if age at maturity is 66 to 70 years.
2.5 Times the Single premium if age at maturity is 71 years and above.

In case of minors, partial withdrawals shall be allowed from the policy anniversary
coinciding with or next following the date on which the life assured attains majority
Partial withdrawals may be in the form of fixed amount or in the form of fixed number of
units.

This plan has certain benefits
In case of Death: Higher of Sum assured under the Basic Plan or the Policyholder’s Fund
Value. The Sum Assured shall be subject to provisions of Partial Withdrawals made
Accident Benefit Sum Assured in addition to the amount under. A above, if Accident
Benefit is opted for.
Partial Withdrawals shall not be allowed under such a policy even after completion of 3
years period.
No loan is available under this plan.
Assignment will be available in this plan
A policy once surrendered cannot be reinstated.

The charges for Mortality, Accident Benefit and / or Critical Illness Benefit cover, if any,
shall be taken, in addition to other charges, by canceling an appropriate number of units
out of the Policyholder’s Fund Value every month. This will continue to provide relevant
risk covers for:
Two years from the due date of first unpaid premium, or
Till the date of maturity, or
Till such period that the Policyholder’s Fund Value reduces to Rs. 5,000/-.
You can switch between any fund types for the entire Fund Value during the policy term
subject to switching charges, if any.