LIC New Pension Plus scheme, check premiums & Benefits

LIC New Pension Plus Plan 867 Benefits

LIC New Pension Plus Plan – Regular Income
LIC New Pension Plus aims to build a corpus by systematic and disciplined savings.

The amount on completion of the term can be converted into regular income.
For regular income, the policyholder will have to buy an annuity plan.

Eligibility Criteria for LIC Pension Plus

• Minimum Age 25 yrs, Maximum Age 75

• Minimum Pension Starting Age =35

• Policy Term 10 Yrs to Max 42 Yrs

• Minimum Vasting Age =35

• Maximum Vasting Age 85

• Premium Payment = Single and Regular (Yrly ,Half yrly, Qtrly and Monthly)

• Minimum Yrly Premium Rs 30000,

• Minimum Single Premium Rs 100000.

DEATH BENEFIT:

• Under In-force Policy: Higher of Unit Fund Value as on date of intimation of death or Assured Death Benefits will be payable.

• Assured Death Benefit = 105% of total premiums received upto date of death reduced by partial withdrawal made during two-year period immediately preceding the death of life assured.

• Under Discontinued Policy during 5 years lock in Period: Discontinued Fund Value as on date of intimation of death will be payable.

• Under Discontinued Policy after 5 years lock in Period: Higher of Unit Fund Value as on date of intimation of death or Paid-Up Sum Assured will be payable. Paid-Up Sum Assured = 105% of total premiums received upto date of FUP reduced by partial withdrawal made during two-year period immediately preceding the death of life assured.