LIC Index Plus 873

Description

Benefits of this Plan are:

1. Death Benefit:
   1. Before Commencement of Risk: The payable amount is equal to the Unit Fund Value at the time of death notification.
   2. After Commencement of Risk: The higher of the following is payable:
      1. Basic Sum Assured (reduced by any Partial Withdrawals in the last 2 years).
      2.  Unit Fund Value on the death notification date.
      3.  105% of premiums paid (reduced by Partial Withdrawals in the last 2 years).
2.  Maturity Benefit: If the Life Assured survives the date of maturity, the insurer will pay an amount equal to the Unit Fund Value on the date of maturity.
3. Switching: The Policyholder can switch between the two fund types specified in Para.7 during the policy term. When you switch, the entire Fund Value will move to the new fund. You can make up to four switches per policy year free of charge. Each additional switch will incur a fee of ₹100, as per Para 9.F.
4.  Payment of Premiums: You can choose to pay premiums yearly, half-yearly, quarterly, or monthly (via NACH) throughout the policy term.
5. Grace Period: The policy provides a grace period of 30 days for yearly, half-yearly, or quarterly premium payments and 15 days for monthly premium payments.

Eligibility Conditions:

Basic Sum Assured	Age at Entry Basic Sum Assured From [90] Days (completed) to [50] years (nearer birthday) 7 times of Annualized Premium 10 times of Annualized Premium
Minimum Premium	Mode/Premium Payment frequency Amount (in Rs) Yearly 30,000/- Half-Yearly 15,000/- Quarterly 7,500/- Monthly (NACH) 2,500/- Premium shall be in multiples of: 1000/- for Yearly mode 500/- for Half-yearly mode 250/- for Quarterly and Monthly (NACH) modes
Maximum Premium	No Limit. The maximum premium allowed to each individual will be subject to underwriting decision as per the Board Approved Underwriting Policy.
Minimum Age at entry	[90] Days (completed)
Maximum Age at entry	Basic Sum Assured Maximum Age at entry 10 times of Annualized Premium [50] years (nearer birthday) 7 times of Annualized Premium [60] years(nearer birthday)
Minimum and Maximum Policy Term	Annualized Premium Minimum Term Maximum Term Less Than 48,000 15 25 48,000 and above 10 25
Premium Paying Term	Same as Policy Term
Premium Paying Mode	Yearly/Half Yearly/Quarterly/Monthly (NACH)
Minimum Maturity Age	[18] years (Completed)
Maximum Maturity Age	Basic Sum Assured Maximum Maturity Age 7 times of Annualized Premium 85 years(nearer birthday) 10 times of Annualized Premium 75 years (nearer birthday)