LIC Profit Plus

This is a unit linked endowment policy, which offers a limited and single premium payment option. The policyholder can choose the level cover option within limits, which will depend on whether the policy is a single premium or limited premium policy. The LIC Profit Plus plan offers 4 types of investment funds to choose from. Let’s read further to know in detail LIC Profit Plus Policy.

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Eligibility Criteria of LIC Profit Plus

The following are the eligibility criteria of the policy.



Policy Tenure

For Premium Paying Term 3 & 4 years= 10-20 years

For PPT  5 years= 10,15- 20 years

For single premium= 5-20  years

Premium Paying Term

3,4, 5 years and single premium

Premium Paying Mode

Monthly (through ECS mode only), Quarterly, Half-yearly, Yearly

Entry Age

Minimum- 0 years (last birthday)

Maximum- 65 years (age nearer birthday)


Maturity Age

Minimum – 18 years (completed)

Maximum- 75 years (nearest birthday)

Sum Assured

Regular Premium- 5 times the annualized premium

Single Premium

Minimum- 1.25 times the single premium (Minimum)

Max Sum Assured

 if Critical Illness Rider opted for

5 times the Single premium if age of maturity is up to 55 years

3 times the Single premium if age at maturity is 56 to 60 years

If Critical Illness Rider is not opted for Max Sum Assured:

Age at maturity 65, 5 times single premium, 66-70, 3 times Single premium and 71 years and over 2.5 times Single premium


No loan is available under this plan

Benefits Offered by LIC Profit Plus

The LIC Profit Plus policy offers the following benefits:

Maturity Benefit

In case of survival of the insured person during the entire tenure of the policy, the maturity benefit is payable as the amount equal to the policyholder’s fund value.

Death Benefit

 In case of demise of the life assured during the policy tenure, the beneficiary or nominee shall receive the sum assured under the basic plan or the fund value of the units held in the policyholder’s fund whichever is higher.

Settlement Option

 With LIC Profit Plus plan approaching maturity, one may exercise the "Settlement Option" to receive the policy money in installments over a period five years maximum from the date of maturity. No life cover is applicable during this period. Also, the installment payable on the date specified shall be subject to investment risk, i.e. the NAV may increase or decrease depending upon the fund performance.

Surrender Benefit

In case of surrender (including compulsory surrender): The fund value as applicable shall be payable after completion of the third policy anniversary.

Partial Withdrawals

The units can be en-cashed partially after the third policy anniversary subject to conditions.

Premiums for LIC Profit Plus

The LIC Profit Plus premiums can be paid yearly, half-yearly, quarterly or monthly. However, the monthly LIC Profit Plus premium can be paid only through ECS.

Additional Riders Offered by LIC Profit Plus

LIC Profit Plus offers three different rider options i.e. Critical Illness Benefit Rider, Life Cover Rider and Accident Benefit riders.

The life assured may opt for the rider by paying additional premium and avail benefits for themselves and family.


Documents Required to Purchase LIC Profit Plus Plan

To buy LIC Profit Plus Plan policy, one has to provide:

  • Identity proof - passport, Aadhar card, voter ID
  • Address proof - Aadhar, driving license, ration card, electricity bill, voter ID, and passport
  • Income proof - salary slips or IT returns.

Exclusions of LIC Profit Plus

In case the Life Assured commits suicide within a year of the LIC Profit Plus inception, no claim under the policy will be admissible except to the extent of the Fund Value of the units held in the Policyholder’s Fund Value on death. Any other reason for death which includes the ingestion of illegal substances such as drugs, terrorism activity participation, riots, alcohol abuse, etc. will also be considered exclusion of this policy. *Standard T&C apply

You May Also Like to Read : LIC ULIP Plans

LIC Profit Plus – FAQs

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Tax benefit are for Investments made up to Rs.2.5 L/ yr and are subject to change as per tax laws.
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-

Ulip Insurer2
Average Rating
(Based on 12 Reviews)

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LIC Profit Plus Reviews & Ratings

4.2 / 5 (Based on 12 Reviews)
(Showing Newest 10 reviews)
Lakhimpur, April 12, 2021
I feel safe and secured for my family when I will be not around. The Lic India ULIP plan will give the better returns and maturity benefits. And will be quite helpful for my family to sustain their future.
Mota Chiloda, April 09, 2021
Great plan
I am happy with this plan and have recommended many people for the same. I bought the Lic India ulip plan 2 years back and It is a best kind of investment.
Krishna, April 07, 2021
Dual benefit plan
I have recently bought a lic India ulip plan which is a dual benefit plan which provides with insurance and also investment. I like it and bought it. I have got various features under the same.
Aushgram, March 23, 2021
Great plans
I have founded my type of investment plan and its name is LIC Ulips plans. I really like this plan and have been secured for a longer period of time. It is a product which works on market trend and is one of the best type of investment.
Lakhawati, March 22, 2021
Premium easy to pay
One of the best feature I like about LIC ULIP plan is that you can make the premium payment online. I bought this plan for the growth of me and my family. It will give a best result and outcome. I am happy that I bought this plan. Even the premium rates are reasonable.
Bangalore, March 16, 2021
Less risky
I always wanted to invest in some or the other best investment plan and thought of getting it of LIC of India ULIP plan. It is easy to buy online and do not have to go anywhere. I just checked few plans online Bought it. It is less risky and provides great benefits.
Banarpal, March 02, 2021
Renew it online
It is easy to renew the LIC India Ulip plan from the online portal. I took this plan 3 years back and I renew it on timely basis. I can make the payment of the premium very easily. That’s the best part. And would get best returns.
Abu Road, February 22, 2021
Buy online
It is easy to buy a lic India Ulip plan from the online portal. I bought it online by comparing various plans and policies into the website. It is really easy and quick.
Dasarathpur, February 16, 2021
Good plans
I have bought a lic India Ulip plans and It is an investment plan for my and my family’s future needs and securities. I am happy to tell this thing because this plan is perfect for me and my wants. I have been into a great investment plan.
Banarpal, March 19, 2019
Dual benefits plan
I am a business man and with LIC Ulip Plan I am enjoying dual benefits of premium paid and insurance protection. Good Service.
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