LIC Index Plus Policy is the new policy in the market. Everyone is curious to know more about this policy. It is an insurance cum savings plan. It covers a wide age group of people by providing the options to invest and save starting from 90 days old individual. We will share details about the LIC Index Plus Policy benefits, calculator, and details below. The insurance policy comes with an option to partially withdraw after a lock-in- period of five years is complete.
LIC Index Plus Policy Details, Features & Benefits
LIC Index Plus Policy will be beneficial for the age group of 90 days to 60 years. Yes, you read it right. It provides a minimum entry age of 90 days. It should be completed according to your date of birth. The maximum age for entry will be either 50 years or 60 years, whichever birthday comes closer.
If the individual is in the age group of 90 days to 50 years, it can avail the annualized premium up to 7 to 10 times. However, if the individual is from the age group of 51 years to 60 Years, the annualized premium will be 7 times. Individuals need to be at least 18 years old to mature the insurance policy. While the maximum age to mature will be 75 years or 85 years old
The policy will have a maximum term of 25 years. However, it will be 10 to 15 years normally. The premium of the insurance will be as follows:
Yearly: Rs. 30,000
6 Months: Rs. 15,000
Quarterly: Rs. 7,500
Monthly: Rs. 2,500
The policyholder will be eligible to partially withdraw the amount after five years of the lock-in period. Let us have a look at the LIC Index Plus Policy calculator below.
LIC Index Plus Policy Calculator
The LIC Index Plus Policy calculator can be beneficial for calculating the returns of the insurance plan. The policy will have the following additions at the end of a particular period. The following mentioned figures will be for the annualized premium:
| Policy End Year | Annualized Premium amount | Percentage of Guaranteed Additions |
| 6 | Less than Rs. 48,000
Rs. 48,000 or above |
3%
5% |
| 10 | Less than Rs. 48,000
Rs. 48,000 or above |
6%
10% |
| 15 | Less than Rs. 48,000
Rs. 48,000 or above |
12%
20% |
| 20 | Less than Rs. 48,000
Rs. 48,000 or above |
15%
25% |
| 25 | Less than Rs. 48,000
Rs. 48,000 or above |
18%
30% |
We hope you get enough details about the LIC Index Plus Plan above. Stay tuned for more information on our website.