LIC Samridhi Plus is a Unit Linked Insurance Plna (ULIP) with the highest NAV guarantee. The plan will offer the highest NAV obtained by the fund in the first 100 months or the NAV on maturity, whichever is higher. A minimum NAV of Rs. 10/- is also guaranteed.
§ Highest NAV is guaranteed at maturity of the higher of first 100 months or at maturity
§ Premiums need to be paid only for a period of maximum 5 years
§ Additional benefit through Accident Benefit rider
Death Benefit – In case of death of the policy holder, the nominee gets the Sum Assured and the Fund Value. The fund value will be calculated at the prevailing NAV at the time of death.
Maturity Benefit - If the policy holder survives the policy term, then he gets the Fund Value according to the highest NAV achieved in the first 100 months of the policy or at maturity whichever is higher.
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 amounts you receive from this plan are exempt from tax under section 10(10D) subject to the provisions stated therein.
Policy Term (in years)
Premium Payment Term (in years)
Entry Age of Policyholder
Age at Maturity
Sum Assured (in Rs.) for Regular premium
If age below 45 years: 10 x AP
If age 45 and above: 7 x AP
If age below 45: 20 x AP
Half-Yearly = 8,000
Quarterly = 4,000
Monthly (ECS only) = 1,500
Rs 1,00,000 p.a.
Single, Annual, Semi Annual, Quarterly and Monthly(ECS)
Sum Assured (in Rs.) for Single premium
If age below 45 years: 1.25 x AP
If age 45 years and above: 1.10 x AP
5 x Single premium, if age at entry is up to 55 years.
Premium = Rs.20,000
Age = 30 years
Policy Term = 10 years
Premium Payment Term = 5 years
Sum Assured = Rs 2,00,000
Total Investment = Rs. 20,000 x 5 years = Rs.1,00,000
Riders – Only 1 additional benefit can be taken in the form of riders by paying extra premium
Type of Rider
Available with Policy
Accidental death benefit
Permanent/Accidental disability benefit
Waiver of premium benefit
Critical illness (or dread diseases) benefit
Increased death benefit / Term rider
Hospital cash benefit
Surgical care benefit
Investment Fund Options
There is only 1 fund available called the Samridhi Plus fund.
There is no top up facility under this policy
No switching is allowed in this plan as there is only 1 fund.
You are allowed to make partial withdrawals in this policy after 5 complete policy years or the life assured is 18 years old, whichever is later.
Partial withdrawals will be allowed only twice in one policy year and the minimum amount for each partial withdrawal can be of Rs 2000.
You want to surrender the policy – If the policy holder wants to surrender the policy before completing 5 years, then the insurance cover will cease and the fund value net of any discontinuance charge will be transferred to the Discontinued Policy Fund. The Discontinued Policy Fund will be credited with a minimum interest rate of 3.5% p.a. and the proceeds from this will be payable after the fifth policy anniversary. In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee.
If the policyholder surrenders the policy after completion of 5 policy years, then the insurance cover will cease and your fund value shall be paid immediately and the policy would be terminated.
You want a loan against your policy- There is no loan available under this plan.
LIC Samridhi Plus is a Unit Linked Insurance Plan (ULIP) with the highest NAV guarantee. The plan will offer the highest NAV obtained by the fund in the first 100 months or the NAV on maturity, whichever is higher. A minimum NAV of Rs. 10/- is also guaranteed.