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Lic Pension Plus

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LIC Pension Plus Policy

LIC Pension Plus is a unit-linked insurance policy (ULIP) where the premium amount is invested in the markets (debt, equity and cash market instruments). The value of investments may go up or down, hence the risk in ULIPS is borne by the policy holder and not by the insurance company.

Key Features of LIC Pension Plus Policy

§ Low and attractive policy charges

§ Guaranteed returns on premiums paid by the policy holder at maturity

§ Option of single premium payment

Benefits you get from LIC Pension Plus Policy

Death Benefit – The plan does not provide any life cover. In case of death of the policy holder, the nominee gets the fund value either in a lump sum or as an annuity. This can be decided by the nominee.

Vesting Benefit - If the policy holder survives till the date of vesting, then his/her fund value plus guaranteed maturity proceeds are compulsorily utilised to purchase an annuity. There is an option whereby the policyholder can withdraw one-third of the amount in lump sum and purchase an annuity with the remaining amount.

Income Tax Benefit

Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

The maturity amount you receive from this plan are exempt from tax under section 10(10D)

Eligibility conditions and other restrictions in LIC Pension Plus Policy

	Minimum	Maximum
Sum Assured (in Rs.)	NIL	NIL
Deferment Term (in years)	10	-
Premium Payment Term (in years)	NA	NA
Lock-in period (in years)	5
Entry Age of Policyholder (in years)	18	75
Age at Vesting (in years)	40	85
Regular premium (in Rs.)	15,000	1,00,000
Single premium (in Rs.)	30,000	No Limit
Payment modes	Yearly, Half-Yearly, Quarterly and Monthly (ECS)
Top-up premium	In multiples of Rs.1000	No Limit

Sample illustration of returns at the end of the policy term in LIC Pension Plus

Premium = Rs.25,000

Policy Term = 20 years

Total Investment = Rs. 25,000 x 20 years = Rs.5,00,000

LIC Pension Plus Sample Illustration

Additional Features and Benefits of LIC Pension Plus

Riders – Some additional benefits can be taken in the form of riders by paying extra premium

Type of Rider	Available with Policy
Accidental death benefit	No
Permanent disability benefit	No
Waiver of premium benefit	No
Critical illness (or dread diseases) benefit	No
Increased death benefit / Term rider	No
Hospital cash benefit	No

Investment Fund Options

The plan provides choice of two funds at comparatively low fund management charges

1. Debt Fund

2. Mixed Fund

Top-up

You can invest additional premiums as top-up premiums in multiples of Rs.1000 anytime except in the last five policy years.

Switching

You have the flexibility to switch investments from one fund to the other any time during the policy term.

Partial Withdrawal

You are not allowed to make partial withdrawals in this policy.

What happens if?

You stop paying the premium before 5 years - then the fund value is credited to discontinued policy fund. On completion of 5 policy years, the money is then used for payment of annuity

You stop paying the premium after 5 years - then the fund value in the policy will be used for payment of an annuity

You want to surrender the policy - then the fund value in the policy will be used for payment of an annuity

You want a loan against your policy - There are no loans allowed in this policy

Alternate plans from different insurance companies

Tata AIG Life Nirvana Pension Plan

Aviva Freedom Life Advantage

SBI Life Smart Performer

Other pension plans from LIC

LIC Jeevan Nidhi

LIC Jeevan Akshay-VI

LIC New Jeevan Dhara-I

LIC New Jeevan Suraksha-I

Note: This is a statement of facts based on the information collected from the Lic Pension Plus brochure and insurance company's website. It should not be construed as a Critical or Favourable Lic Pension Plus Review, Analysis or Recommendation.
Insurance is a subject matter of the solicitation.

39 Responses to "Lic Pension Plus"

I am 29 years old & want to invest in the best pension plan of LIC. please provide me with the best detailed option & plan for 20 or 30years investment & amount of return after my 50 or 60 years of age.
Is there any possibility that I can withdraw my pension amount monthly. If yes, please tell me the amount of monthly drawings after my 50 or 60 yrs. of age. I will invest Rs. 15-20 k per year.

By Santhosh Kumar on May 04, 2012

Dear Viewers,
I am a LIC Agent in Bangalore Vijayanagara Branch, If anybody wants any Insurance policy and any Insurance services Please contanct me:
Cell: 9900016747
Email: Nagendra.km56@gmail.com

By Nagendra.km on May 03, 2012

Hi,

I am 29 years old & want to invest in the best pension plan of LIC. please provide me with the best detailed option & plan for 30years investment & amount of return after my 60 years of age.
Is there any possibility that I can withdraw my pension amount monthly. If yes, please tell me the amount of monthly drawings after my 60 yrs. of age. I will invest Rs. 15-20 k per year.

Thanks,

Mrinmoy
kolkata

08820483063

By Mrinmoy Bhattacharjee on May 02, 2012

Ms.Pavithra ,

Can you please give me your Email id or contact number. I will give completed details about this policy.

Please let us know!

Nagendra
LIC of India,Bangalore
9900016747

By Nagendra.km on Apr 24, 2012

I am 29 years, I wish to invest Rs.10000/- per year in LIC best pension plan policy for 20 years
please give proper advice and let me know the return.

Please reply to my e-mail.

by Pavithra

By Pavithra on Apr 24, 2012

Dear Viewers,
I am a LIC Agent in Bangalore Vijayanagara Branch, If anybody wants any Insurance policy and any Insurance services Please contanct me:
Cell: 9900016747
Email: Nagendra.km56@gmail.com

By Nagendra.km on Apr 04, 2012

Hi i m prem age37 from mumbai

is there any monthly return plan with one time premium paid to Issurance company.

By prem on Mar 30, 2012

Dear Viewers,
I am a LIC Agent in Bangalore Vijayanagara Branch, If anybody wants any Insurance policy and any Insurance services Please contanct me:
Cell: 9900016747
Email: Nagendra.km56@gmail.com

By Nagendra.km on Mar 19, 2012

i am anlic agent.forall policy,n services contact me

By ramadevi on Mar 16, 2012

i am anlic agent.forall policy,n services contact me

By ramadevi on Mar 16, 2012

Dear Viewers,
I am a LIC Agent in Bangalore Vijayanagara Branch, If anybody wants any Insurance policy and any Insurance services Please contanct me:
Cell: 9900016747
Email: Nagendra.km56@gmail.com

By Nagendra.km on Mar 13, 2012

I am 41 years, I wish to invest Rs.50000/- per year in LIC best pension plan policy for 16 years
please give proper advice

By Manojkumar S Jani on Mar 11, 2012

I am a lici agent from kolkata. For any help contact me at
9831222240

By Sunil Agarwal on Mar 10, 2012

Dear Viewers,
I am a LIC Agent in Bangalore Vijayanagara Branch, If anybody wants any Insurance policy and any Insurance services Please contanct me:
Cell: 9900016747

By Nagendra.km on Feb 28, 2012

HI,
I AM RAJESH A LIC REPRESENTATIVE .FOR ANY QUERY OR PURCHASE OF LIC PLANS PL............... CONTACT ME ON MY CELL 09419795147

By RAJESH TRIPATHI on Feb 26, 2012

Dear Viewers,
I am a LIC Agent in Bangalore Vijayanagara Branch, If anybody wants any Insurance policy and any Insurance services Please contanct me:
Cell: 9900016747

By Nagendra.km on Feb 22, 2012

Let me know that pension plan policy table no.803 is eligible for 80C or not if yes than mail me any proof for this

By Inder Mohan Singh on Feb 21, 2012

Hi,

I am an LIC agent from chennai.
You can contact me for more information and help.
Shakthi - 9444652545

Thanks

By shakthi on Feb 14, 2012

Dear Viewers,

I am a LIC Agent in Bangalore Vijayanagar Branch.. If Anybody wants any Insurance Polices and any insurance service Please feel call me below this number
Mobile: 9900016747

Thanks
Nagendra.KM

By Nagendra KM on Jan 25, 2012

By nagu on Jan 25, 2012

My domestic help. I want to get him 25 years pension plan.
Investment 1600 rupees per month.
age 24 years
Hoping for return of Rs 12000 per month.

Monthly payment of Rs 1600

Reply to my e mail.

thanks

By Dr d mistry on Jan 23, 2012

hi send m the full lic pension plan details .what amount per month what are the returns
also for single premium
thanks

By sanjai on Jan 20, 2012

may i deposit top up amount on single premium pension plus plan ?

By p l sharma on Jan 10, 2012

i invest 2 lacs once how much pensin will get after 20 year per month

By N GYANENDRA SINGH on Dec 30, 2011

hi send m the full lic pension plan details..what amount per month what are the returns

By sanathp.salian on Dec 30, 2011

Single premium means we need not pay any further amount? plz clarify if i may pay initially rs30000 means when can i get a maturity and how much i can get ?

By Tamilarasi on Dec 20, 2011

i have mony back policy as i am interested in pension plan with single premium or one time premium as i am 43yrs old please suggest .

By Pravin.Raykar on Dec 12, 2011

I m 46, seek a pension plan. can invest 50000 annually.

By Pradeep Kumar on Nov 24, 2011

i want a 5 year policy pls suggest

By brijesh changlani on Nov 14, 2011

plz complet pension plan

By RAVI on Nov 12, 2011

I want a 5 year policy in Pension plan. I can remit Rs.50000/- yearly. Please suggest a suitable Pension plan. I am 52 years now.

By Valsa P.I on Nov 02, 2011

i have paid yearly premium on my wife`s name towards jeevan suraksha-I policy. will it qualify for deductions under section 80c or 80ccc. pl. clarify

By ynnagaraja on Oct 22, 2011

i want a 4 years investment policy and i can invest at least 50000 for 2 years please suggest me the best plan and i a 43years old.

By sunita gupta on Oct 03, 2011

please send me complete detail about pension plan

By Vivek M. Padgelwar on Sep 07, 2011

Pl. Send me complete information for pension plan

By Mahesh Kar on Aug 31, 2011

i am your customer for jeevan akshay vi Table no 189 my policy no is 985748513 dt 28/04/2010 i have not received my monthly returns since april 2011 onwards pl commuicate me the prasent status thanks 9881098236 dr gv tekale beed

By Dr Gopal vasantrao Tekale on Aug 24, 2011

i am interested

By sakil saha on Jul 27, 2011

This is one of the best pension plans from the insurance companies.

By Sumam Shettey on Jan 19, 2011

I want a 3 year policy . please suggest

By dipankar chatterjee on Jan 15, 2011

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