What is LIC Index Plus 873 (ULIP) : Key Features of Index Plus LIC Plan

What is LIC Index Plus 873? :

LIC’s Index Plus Plan (873) is suitable for customers focused on long-term wealth creation through market participation while simultaneously securing their family’s future with life cover and maximizing available tax benefits.

Key Features of the LIC Index plus plan 873 (ULIP):

• Market-Linked Investment: Returns are linked to market performance through investments in professionally managed funds.
• Fund Selection Flexibility: Policyholders have the option to choose between two available fund options: the Flexi Growth Fund and the Flexi Smart Growth Fund.
• Life Coverage: Life insurance coverage is provided for the duration of the policy term.
• Fund Switching: The plan permits policyholders to switch between the chosen funds up to four times per year.
• Guaranteed Additions: These are credited at specified policy intervals, thereby increasing the potential value of the investment.
• Mortality Charge Refund: The plan includes a provision for the refund of mortality charges at maturity (excluding extra charges or taxes), provided all premiums have been consistently paid and the policy remains in force.
• Liquidity Option: Partial withdrawals from the fund are permissible after the completion of the fifth policy year.

Primary Benefits of the LIC Index plus plan 873 (ULIP):

• Maturity Benefit: Upon survival until the end of the policy term, the full Unit Fund Value is paid out to the policyholder.
• Death Benefit: In the event of the policyholder's death, the nominee will receive the highest of the following three amounts: the basic sum assured, 105% of the total premiums paid, or the unit fund value (subject to adjustment for partial withdrawals in certain instances).
• Rider Option: The optional Accidental Death Benefit Rider is available to enhance the financial protection offered to the policyholder's family.
• Tax Advantages: Premiums paid and the maturity benefits may qualify for tax benefits in accordance with the prevailing income tax regulations.

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