LIC Flexi Plus Plan

Benefits of the LIC’s Flexi Plus

The following are the core benefits offered by LIC’s Flexi Plus insurance policy:

1. Maturity Benefits

   A maturity benefit is calculated as the sum assured or fund value is payable to the policyholder at the time of maturity of LIC Flexi Plus.

2. Death Benefits

   A death benefit shall be payable to the policyholder at the time of the insured person’s death. This is applicable only if all the LIC Flexi Plus premium payments until the death have been duly paid.

3. Tax Benefits

   Tax benefits are applicable to maturity proceeds, premium payments, and on premium payments made. * Tax benefit is subject to changes in tax laws

4. Grace Period

   In case the policyholder is unable to make a premium payment at the stipulated date, a grace period of 30 days is offered by the corporation to ensure the smooth sailing of the policy. At this time, the due premium can be paid without the policy lapsing or any interest charges. This period reduces to 15 days for monthly premium installments.

Eligibility for LIC’s Flexi Plus

Premiums for LIC’s Flexi Plus

LIC Flexi Plus plan offers different modes of premium payments, which can be chosen by the policyholder as per their risk appetite. These installments can be paid in monthly, quarterly, bi-annual, and annual payments. To be able to decipher the exact amount of premium, one can refer to the LIC Flexi Plus calculator easily available online.

Additional Riders for LIC’s Flexi Plus

Add-on riders such as accidental death and disability and critical illness riders among others can be purchased at the time of inception of the online LIC Flexi Plus or on the date of one of its anniversaries.  

Age of entry:

• Minimum – 18 years
• Maximum– 50 years

What are the documents required to buy this policy?

To buy LIC Flexi Plus is simple as all one needs to do is submit a duly attested application with the following documents.

• Identification proof – Aadhar card, driver’s license, passport, PAN card, etc.
• Address proof – ration card, Driver’s license, electricity bills, Aadhar, voter ID, etc.
• Income proof – IT returns, salary slips, and financial asset portfolios (if required)

How to buy this plan online?

Several LIC Flexi Plus reviews will suggest whether buying this plan online or offline is more convenient. However, for further details regarding the same, the best way is to contact one of the customer care helpline numbers and speak to a customer care executive who will guide you through the details. Alternatively, there is also a customer-friendly email address displayed on the official company website, which can also be contacted via email.

Exclusions of LIC’s Flexi Plus

In case the life assured dies due to committing suicide, the corporation will then not entertain any death claim or pay out the death benefit. Death by suicide is an exclusion of this plan. However, the fund value of the policy at the time of said death will be payable to the beneficiary or nominee.

LIC Flexi Plus Plan - FAQs