The Ultimate Guide to LIC's Nivesh Plus: Maximize Your Wealth with Single Premium Investment in Bhadra
In the fast-evolving landscape of Financial Planning in Bhadra, investors are constantly seeking avenues that offer the safety of life insurance combined with the high-growth potential of capital markets. If you are looking to make a lump-sum investment that grows with the market, LIC's Nivesh Plus (UIN: 512L317V02) is the ultimate wealth-creation tool.
As your most trusted LIC Agent in Bhadra, Ashuram Insurance Expert brings you this completely transparent and highly comprehensive guide. Let us dive deep into how this Unit Linked Insurance Plan (ULIP) can transform your Long Term Investment Plan and secure your family's financial future.
1. What is LIC's Nivesh Plus?
LIC's Nivesh Plus is a Non-Par, Single Premium, Linked, Life, Individual Savings plan.
- Single Premium: You only need to invest your money once.
- Linked Plan (ULIP): Your money is invested in the financial markets (equity/debt), meaning the investment risk in the investment portfolio is borne by the policyholder.
- Lock-in Period: Unit linked insurance products do not offer any liquidity during the first five years of the contract. Policyholders will not be able to surrender or withdraw the monies invested completely or partially till the end of the fifth year.
You can securely buy this plan offline through Licensed agents, Corporate agents, Brokers, and Insurance Marketing Firms, as well as online directly through the LIC website. For absolute peace of mind and personalized service in pin codes 335501 to 335511, Ashuram Insurance Expert remains your top choice.
2. Eligibility Conditions and Investment Limits
Before initiating your Saving and Investment Planning, it is crucial to understand the entry restrictions. LIC gives you the flexibility to choose the Basic Sum Assured as either 1.25 times or 10 times of the Single Premium.
Option 1: Basic Sum Assured is 1.25 times of the single premium.
Option 2: Basic Sum Assured is 10 times of the single premium.
| Minimum Age at entry | 90 Days (completed) for both Option 1 and 2 |
|---|---|
| Maximum Age at entry | 70 years (Option 1) | 35 years (Option 2) |
| Minimum Maturity Age | 18 years (Completed) |
| Maximum Maturity Age | 85 years (Option 1) | 50 years (Option 2) |
| Premium Paying Mode | Single Premium only |
| Minimum Premium Amount | Rs. 1,25,000/- |
| Maximum Premium Amount | No Limits |
| Premium Multiples | Multiples of Rs. 5,000/- |
Note on Risk Commencement: In case the age at entry of the Life Assured is less than 8 years, the risk will commence either on the completion of 2 years from the date of commencement of policy or on the policy anniversary coinciding with or immediately following the completion of 8 years of age, whichever is earlier. For age 8 years or more, risk commences immediately from the date of underwriting acceptance.
3. Comprehensive Benefit Breakdown: How Your Wealth Grows
For anyone seeking transparent Life Insurance in Bhadra, understanding the exact payout structure is paramount.
A. Maturity Benefit (Wealth Creation)
On the Life Assured surviving the date of maturity, an amount equal to the Unit Fund Value as on the date of Maturity shall be payable.
B. Death Benefit (Family Financial Security)
On death before the Date of Commencement of Risk: An amount equal to the Unit Fund Value as on the date of intimation of death shall be payable.
On death after the Date of Commencement of Risk: An amount equal to the higher of the following shall be payable:
- Basic Sum Assured less Partial Withdrawals, if any made during the two years period immediately preceding the date of death; OR
- Unit Fund Value.
C. Guaranteed Additions (Bonus on Investment)
LIC rewards you for staying invested! Guaranteed Additions as a percentage of Single Premium shall be added to the Unit Fund on completion of specific policy years:
- End of Policy Year 6: 3%
- End of Policy Year 10: 4%
- End of Policy Year 15: 5%
- End of Policy Year 20: 6%
- End of Policy Year 25: 7%
4. Total Control Over Your Investment: The 4 Fund Options
Unlike traditional plans, Nivesh Plus allows you to choose the type of investment fund to invest the premiums as per your risk appetite. The allocated premiums will be utilized to buy units in one of the following four funds:
| Fund Type | Investment Strategy & Risk |
|---|---|
| Bond Fund | Low Risk: Invests not less than 60% in Government/Corporate Debt. Safe and less volatile. |
| Secured Fund | Lower to Medium Risk: 45% to 85% in Debt and 15% to 55% in Listed Equity Shares. Steady income. |
| Balanced Fund | Medium Risk: 30% to 70% in Debt and 30% to 70% in Equity. Balanced income and growth. |
| Growth Fund | High Risk: 20% to 60% in Debt and 40% to 80% in Equity. Long term capital growth. |
Switching Your Funds: You have an option to switch between the four fund types during the policy term. During a given policy year, 4 switches will be allowed free of charge. Subsequent switches in that year shall be subject to a Switching Charge of Rs. 100 per switch.
5. Liquidity: Partial Withdrawals and Settlement Options
You can partially withdraw the units at any time after the fifth policy anniversary. The maximum amount of Partial Withdrawal as a percentage of the fund during each policy year is strictly structured:
- 6th to 10th Policy Year: 15% of Unit Fund
- 11th to 15th Policy Year: 20% of Unit Fund
- 16th to 20th Policy Year: 25% of Unit Fund
- 21st to 25th Policy Year: 30% of Unit Fund
Settlement Option: This is the option to receive the Death Benefit in instalments. The option can specify the mode of instalment and period in years (not more than 5 years). During this period, the value of the instalment payable is subject to investment risk (NAV may go up or down).
Important Note: No loan shall be allowed under this plan.
6. Understanding the Charges
Transparency is a hallmark of Ashuram Insurance Expert. Here are the charges associated with LIC's Nivesh Plus:
- Premium Allocation Charge: For Offline sale it is 3.30%, and for Online sale it is 1.50%.
- Fund Management Charge (FMC): 1.35% p.a. of Unit Fund for all the four Funds available. For the "Discontinued Policy Fund", it is 0.50% p.a.
- Partial Withdrawal Charge: A flat amount of Rs. 100/- shall be deducted at the time of each partial withdrawal.
- Miscellaneous Charge: For an alteration during the contract, a flat amount of Rs. 100/- will be deducted.
7. Surrender Rules and Compulsory Termination
A policy can be surrendered anytime during the policy term.
- If surrendered during the 5 years' lock-in-period: The Unit Fund Value after deducting the Discontinuance Charge shall be converted into a monetary amount and transferred to the Discontinued Policy Fund. The proceeds shall be payable at the end of the 5 years' lock-in-period.
- If surrendered after the 5 years' lock-in-period: The Unit Fund Value as on the date of surrender shall be payable, and there will be no Discontinuance Charge.
If the policy has run for at least 5 years and the balance in the Unit Fund is not sufficient to recover the relevant charges, the policy shall be compulsorily terminated and the balance amount refunded.
Secure Your Market-Linked Growth with Ashuram Insurance Expert
Do not let inflation erode your hard-earned savings. Capitalize on the dynamic growth of financial markets while ensuring the safety of your family with LIC's Nivesh Plus. For transparent, IRDAI-compliant Insurance Services in Bhadra, Ashuram Insurance Expert is your trusted local authority. Operating as the premier LIC Premium Point Bhadra, we ensure that your risk profiling, premium calculation, and fund selection are handled with absolute expertise. Let your money work as hard as you do!