LIC Invest Plus Plan 280

About LIC Invest Plus Plan 280

LIC Invest Plus is designed for people who want to invest a lump sum amount in the market while keeping life cover active indefinitely, rather than committing to recurring premiums. It is an individual, unit-linked, whole-of-life policy funded through a single premium payment, where the premium is invested across funds managed by different fund houses through an all-funds platform, and the investment risk is entirely borne by the policyholder.

Key Features of LIC Invest Plus Plan 280

The plan is built around a few defining features that separate it from a traditional endowment policy:

• Individual, unit-linked, whole-of-life policy funded through a single premium payment

• No recurring premiums, since the entire investment is made upfront

• Premium invested across funds managed by different fund houses through an all-funds platform, with the policyholder choosing the allocation

• Fund value that moves up or down with market performance, since investment risk sits with the policyholder

• Unlimited fund switching at no charge throughout the policy term

• No maturity date, since this is a whole-of-life product rather than a fixed-term one

• Partial withdrawals allowed anytime, subject to a minimum remaining fund value of USD 15,000

• Top-up premiums starting at USD 1,500, in multiples of USD 100, can be added at any point during the policy term

Eligibility Criteria for LIC Invest Plus Plan

Eligibility under LIC Invest Plus is set by age and premium amount rather than by a payment term, since the whole premium is paid upfront. These limits determine who qualifies and how the investment scales:

Benefits of LIC Invest Plus Plan

LIC Invest Plus benefits are as follows:

Death Benefit

In the event of the death of the life assured, 101% of the fund value as on the date of death is paid to the nominee. The policy terminates once this payment is made.

Maturity Benefit

As LIC Invest Plus is a whole-of-life plan, there is no maturity benefit tied to a fixed policy term. Instead, the policyholder can withdraw 100% of the fund value at any point, subject to applicable surrender charges.

Partial Withdrawal

Partial withdrawals are allowed at any time during the policy term. The remaining fund value must stay above USD 15,000 after the withdrawal, and each withdrawal must be for at least USD 1,500. The withdrawal amount is paid net of surrender charges, and the policy continues in force afterwards.

Fund Switching

The policyholder can switch between funds an unlimited number of times during the policy term, at no charge. If a fund house withdraws a particular fund, the policyholder can either move that investment to another fund or withdraw its full value without incurring a surrender charge.

Policy Details of LIC Invest Plus Plan

LIC Invest Plus has several features that shape how the policy is administered. Below are the policy details discussed briefly:

Charges Under the Plan

LIC Invest Plus includes several charges that are deducted from the fund value:

Surrender Charge

Surrender charges apply according to the schedule below, tapering down as the policy matures:

Grace Period

A grace period does not apply under LIC Invest Plus. Since the plan is funded through a single, one-time premium rather than recurring instalments, there is no due date for future premiums that could trigger a lapse.

Free Look Period

A 30-day free look period is available from the date of policy issuance, the commencement of coverage, or the date the policy documents are signed, whichever is earlier. Within this period, the policyholder can return the policy and receive the value of allocated units plus any unallocated premium, after deducting cancellation charges and underwriting costs incurred.

Policy on the Life of a Minor

Where the policy is taken on the life of a minor, cover continues in the minor's name from the outset, but ownership of the policy automatically vests in the life assured once they attain majority, at which point they take over the rights previously exercised on their behalf.

Surrender Value

The policy acquires a surrender value immediately on completion of one full policy year. This value is calculated as the fund value on the date of surrender, after deducting the relevant surrender charge, and the applicable charge is recovered by cancelling units rather than as a separate deduction.

Loan Facility

No loan facility is available under LIC Invest Plus. Policyholders who need liquidity before the fund value is otherwise accessible would instead need to rely on the plan's partial withdrawal or full surrender options.

Assignment

Assignment is not permitted at any stage of the policy, meaning the policyholder cannot transfer their rights or ownership under this plan to another party.

Nominee / Beneficiary

The life assured can appoint a nominee to receive the policy proceeds on death. This can be done at the time of purchase or later by endorsement. The nominee can be changed anytime, provided the change is submitted in writing and registered by the company.

Paid Up Value

A paid-up value does not apply under LIC Invest Plus, since this is a single premium plan with no recurring premiums that could lapse.

Exclusions of LIC Invest Plus Plan 280

Certain circumstances limit or remove the payout under LIC Invest Plus, and a free look period gives the policyholder a window to exit the policy shortly after buying it.

Suicide

If the death of the life assured results directly or indirectly from suicide, whether sane or insane at the time, within 12 months of the risk commencement date, only the fund value is payable as the death benefit, after deducting applicable charges.

Other Restrictions

If a nominee causes the death of the life assured through a violent act, that nominee forfeits the right to the death benefit, though it remains payable to other legal heirs. Claims arising directly or indirectly from war, invasion, riot, rebellion, or terrorism are not payable under this plan.

Fund Management and Risk Under LIC Invest Plus Plan 280

Fund value under LIC Invest Plus depends entirely on the performance of the chosen funds, and the plan carries the same market exposure as any unit-linked product:

• Funds span a range of investment styles, risk levels, and asset types, managed by different fund houses through the all-funds platform

• Since this is a unit-linked product, the premium paid is subject to market risk, and unit values can rise or fall based on fund performance

• The name of the plan does not indicate the quality or future performance of either the funds or the contract itself

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