LIC launched its single Wealth Plus plan on Tuesday. It is a unit-linked insurance plan that safeguards the investment from the market variation so that investments are confined in financial volatile situation of today. The plan will be available for sale for a limited period only.
In this product there is a guarantee of the highest NAV (Net Asset Value) recorded on a daily basis in the first seven years of the policy. This means the payment at the end of the policy term will be based on NAV recorded over the first seven years of the policy or the NAV as valid on the end of the policy term, whichever is higher. The minimum age at entry is 10 years (last birthday) while the maximum 65 (nearer birthday).
This was announced at a Press conference here by LIC Zonal Manager Basap Raju along with RM (Marketing) SK Sinha and Senior Divisional Manager RN Mishra in the presence of Marketing Manager (Bhubaneswar) SC Kundu. The policy would be closed within three months from the date of launching or previous if the target is achieved, they said.
A very special feature of this policy plan is the extensive life cover for two years after the completion of policy term of eight years. One can choose the level of cover within the limits which will depend on one’s age, whether the policy is a single premium or limited premium contract and on the level of premium he or she agrees to pay. In case of death during the policy term, the nominee shall receive sum assured under the basic plan together with the policy holders fund value as death benefit.
For More Information About Insurance Policy.
LIC Policy
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