Ever thought about getting an insurance plan that doesn’t just sit there but actually helps your money grow? That’s exactly what LIC’s Index Plus is all about. This particular plan keeps your family protected while your money works in the market.
LIC Index Plus Plan Maturity Calculator
LIC Index Plus Calculator
Fund Growth Comparison (4% vs 8%)
Year-Wise Policy Details
| Year | Annualized Premium (₹) | Fund Value @4% (₹) | Surrender Value @4% (₹) | Death Benefit @4% (₹) | Fund Value @8% (₹) | Surrender Value @8% (₹) | Death Benefit @8% (₹) |
|---|
Now let me break it down for you in simple terms. We will check out all the cool features, see what’s in it for you, and find out if it’s your cup of tea. I will also give you some real numbers to show you how your money could grow over time.
What is LIC’s Index Plus Plan?
It’s a Unit-Linked Insurance Plan (ULIP) that makes your money work harder. When you invest your premium in this plan, it goes into market-linked funds that have the potential to grow over time. While your life stays protected with insurance coverage, LIC’s expert fund managers take care of your investment through two different fund options.
- Flexi Growth Fund – Invests in NIFTY100 index-linked stocks.
- Flexi Smart Growth Fund – Invests in NIFTY50 index-linked stocks.
Key Features of the Plan
- Guaranteed Additions: Enjoy bonuses at specific policy durations (6, 10, 15, 20, and 25 years).
- Life Cover: Get protection throughout the policy term.
- Refund of Mortality Charges: Upon maturity, all deducted mortality charges are refunded.
- Partial Withdrawals: Withdraw funds after a 5-year lock-in period to meet financial needs.
- Fund Switching: Switch between funds up to four times a year for free.
Are you looking to explore more LIC plans and calculate their benefits? Check out our range of LIC Premium Calculators below to find the perfect plan for your needs:
- LIC Yuva Credit Life Premium Calculator
- LIC New Jeevan Amar Premium Calculator
- LIC Jeevan Akshay Premium Calculator
- LIC New Jeevan Shanti Premium Calculator
- LIC Micro Bachat Plan Premium Calculator
- LIC Nivesh Plus Premium Calculator
Eligibility Criteria
| Criteria | Details |
|---|---|
| Minimum Age at Entry | 90 days (completed) |
| Maximum Age at Entry | 60 years |
| Policy Term | 10–25 years |
| Minimum Premium | ₹30,000 yearly, ₹15,000 half-yearly, ₹7,500 quarterly, ₹2,500 monthly |
| Maximum Premium | No limit |
| Sum Assured | 7 or 10 times the annual premium (based on age) |
| Lock-In Period | 5 years |
Benefits of LIC’s Index Plus
1. Maturity Benefit
When your policy matures, you will receive the fund value, which depends on your investment’s performance. Above this, LIC refunds the mortality charges deducted during the policy term.
2. Death Benefit
If the policyholder passes away during the policy term, the nominee receives the higher of:
- Sum Assured (minus partial withdrawals in the last 2 years).
- Fund Value.
- 105% of the total premiums paid.
3. Guaranteed Additions
At specified milestones, LIC adds guaranteed bonuses to your fund:
- 3–5% of the annualized premium for smaller premiums.
- 5–30% for higher premiums (₹48,000 and above).
| Policy Year | Guaranteed Additions (% of Premium) (Below ₹48,000) | Guaranteed Additions (% of Premium) (₹48,000 & Above) |
|---|---|---|
| 6 | 3% | 5% |
| 10 | 6% | 10% |
| 15 | 12% | 20% |
| 20 | 15% | 25% |
| 25 | 18% | 30% |
4. Partial Withdrawals
After 5 years, you can withdraw up to:
- 20% of the fund value between years 6–10.
- 25–35% in subsequent years.
5. Fund Options
You can invest in two funds:
- Flexi Growth Fund: Focuses on long-term capital appreciation.
- Flexi Smart Growth Fund: Offers stable returns through a diversified portfolio.
Year-Wise Benefit Illustration
Let’s understand the potential growth of this plan with an example.
Example:
- Age: 30 years
- Policy Term: 25 years
- Premium: ₹50,000 (Half-Yearly Mode)
- Sum Assured: ₹10,00,000
- Fund Type: Flexi Growth Fund
| Year | Premium Paid (₹) | Guaranteed Additions (₹) | Fund Value @ 4% p.a. (₹) | Fund Value @ 8% p.a. (₹) | Death Benefit (₹) |
|---|---|---|---|---|---|
| 6 | 6,00,000 | 5,000 | 5,99,947 | 6,80,716 | 10,00,000 |
| 10 | 10,00,000 | 10,000 | 10,60,743 | 13,07,764 | 13,07,764 |
| 15 | 15,00,000 | 20,000 | 17,07,366 | 23,46,412 | 23,46,412 |
| 20 | 20,00,000 | 25,000 | 24,35,514 | 37,57,282 | 37,57,282 |
| 25 | 25,00,000 | 30,000 | 32,61,345 | 56,78,503 | 56,78,503 |
How to Purchase LIC’s Index Plus
- Offline: Reach out to an LIC agent or visit the nearest branch.
- Online: Visit LIC’s official website to buy directly.
Why Choose LIC’s Index Plus?
- A perfect combo of insurance and investment.
- Guaranteed additions to boost your savings.
- Flexible options to adjust to your changing needs.
- Backed by LIC’s decades of expertise and reliability.
Look, it’s not just about getting another insurance policy. With Index Plus, you’re actually setting up a strong money plan for your family’s future. The best time to start building wealth is Right now. So what do you say – ready to take that first step towards a better tomorrow?
