LIC's Index Plus
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LIC’s Index Plus (Plan No. 873) is a Unit-Linked Insurance Plan (ULIP) launched by the Life Insurance Corporation of India on February 6, 2024. This plan combines life insurance coverage with market-linked investment opportunities, allowing policyholders to invest in equity indices such as NIFTY 50 and NIFTY 100.
Key Features
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Premium Payment Modes: Yearly, Half-Yearly, Quarterly, and Monthly (via NACH).
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Fund Options:
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Flexi Growth Fund: Primarily invests in equity markets.
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Flexi Smart Growth Fund: A balanced fund with a mix of equity and debt.
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Switching Facility: Allows up to 4 free switches between funds per policy year; subsequent switches incur a fee of ₹100 each.
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Partial Withdrawal: Permitted after the 5th policy year.
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Surrender Facility: Available after the 5-year lock-in period.
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Riders Available: Accidental Death Benefit Rider.