LIC Future Plus

LIC Future Plus Policy is a unit-linked pension plan.  The policyholder has the option to invest in this plan with the risk cover or without it.  This plan can be either a single premium or regular premium plan.  The policyholder can choose his level of cover based on the type of plan that he has chosen and the premium he is willing to pay.  Loans and assignments are not allowed under LIC Future Plus Plan.  Dating back of the policy is also not allowed.

Read more
LIC Plans-
Buy LIC policy online hassle free
Tax saving under Sec 80C & 10(10D)^
Guaranteed maturity with life cover for securing family's future
Sovereign guarantee as per Sec 37 of LIC Act
LIC life insurance
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold
Now Available on Policybazaar
Grow wealth through
100% Guaranteed Returns with LIC
+91
Secure
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on ''View Plans'' you, agreed to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

The premiums that have been assigned will be invested to purchase units according to the fund type opted by the insured.  The Unit Account might incur deductions due to various charges.  The value in the fund units is subject to change based on the investment return of the assets.

Eligibility Criteria for LIC Future Plus

The eligibility under the LIC Future Plus Plan for the base policy is as follows:

  • The minimum age at entry is 18 years completed.
  • The maximum age at entry is 65 years (nearer birthday)
  • The minimum age at vesting is 40 years (age last birthday)
  • The maximum age at vesting is 75 years (age last birthday)
  • The minimum policy term is 5 years for both single and regular premium policies
  • The minimum premium is Rs. 10000 for a single premium and Rs. 5000 p.a. for regular premium
  • Sum assured under the basic plan

For a single premium, it is equal to the single premium

For regular premium, it is equal to 5-20 times the annualized premium

Core Benefits of LIC Future Plus

Here are the key benefits offered under LIC Future Plus Plan:

Death Benefits

The Sum Assured as provided by the Basic Plan, along with the Bid Value of units the account of the policyholder holds, will become payable to the nominee of the LIC Future Plus Policyholder in the event of his death within the policy term.  The monies might be transferred as a lump sum or as a pension on his life.  The amount of the pension depends on the annuity rates.  

The Bid Value of the units in the policy holder's account will be payable to the nominee in the event that the policy is taken without risk cover.  This amount may be payable as a lump sum or as a pension on his life.

The Bid Value of the units held in the policy holder's account will also be payable to the nominee in the event that the policy has lapsed.  This amount, too, is payable as a lump sum or as a pension on his life.

Benefit on Vesting

According to this benefit provided by the LIC Future Plus Plan, the Bid Value of the units the policyholder's account holds will mandatorily be used to provide a pension to the policyholder in the event that a policyholder survives to the date of vesting.  The pension will be based on the prevailing annuity rates.

Accident Benefit Option

This is an optional Rider Benefit that one can get by paying an extra premium amount.  

Accident Benefit Sum Assured is payable to the nominee in the event of the policy holder’s accidental death during the policy term.  This option stands cancelled if the Basic Sum Assured is zero.  This assured benefit has an overall limit of Rs. 25 lakh.

Critical Illness Benefit Rider

The Sum Assured for the Critical Illness Rider is given if the policyholder is diagnosed with a critical illness.  It should be a definite diagnosis, and the critical here in this rider is Rs. 5 lakhs.  This amount cannot exceed the Sum Assured applicable to the Basic Plan.  This option stands cancelled in the event that the Basic Sum Assured is zero.

Documents Required to Buy LIC Future Plus

The documents required to claim a LIC Future Plus Policy are as follows

In case of the policy holder’s death:

  • Claims form
  • Original policy document
  • NEFT mandate
  • Death certificate
  • Proof of age

In the case of the policy maturity

  • Discharge form
  • Original policy document
  • NEFT mandate
  • Proof of age

The Premium Structure of LIC Future Plus

The minimum premium amount for LIC Future Plus Plan Regular premium is Rs. 5000, while for Single-Premium, it is Rs. 10, 0000.

There is no upper limit to the premium amount paid, and it is subject to underwriting.

The premium received by the insurer will be invested in both Unit and Non-Unit funds.

Online Purchase of LIC Future Plus Policy

LIC Future Plus Plan can most conveniently be purchased online.  It saves the time, effort, and added expenses that the policyholder might have to bear in purchasing the policy from a branch office of the corporation.  The following steps are to be undertaken:

Step 1: Visit the official website of the Life Insurance Corporation of India.

Step 2:Click on “Products.”

Step 3:Search for LIC Future Plus Plan

Step 4:Enter all the details requested like name, age, address proof, contact number, etc.

Step 5:Choose the financial parameters suitably and upload scanned copies of all the documents.

Step 6:Study the quote of premium provided.

Step 7:Pay the premium online.

Key Exclusions of LIC Future Plus Plan

In the event that a policyholder of the LIC Future Plus Policy should commit suicide (whether sane or insane at the time) at any time during the policy term, on or after the date at which the risk period under the policy has started but before 1 year from the date of starting of risk, no risk claim will be paid by the corporation.  The Bid Value in the policy holder's account gets paid to the policyholder's nominee, minus the charge for the premature surrender of the policy.  The corporation will entertain no other claims.

FAQs

  • Q1. What is the eligibility to opt for the Critical Illness Benefit Rider Option under LIC Future Plus Policy?

    The eligibility to opt for this rider benefit is as follows:

    • The minimum age at entry is 18 years (completed)
    • The maximum age at entry is 50 years (age nearer birthday)
    • The maximum maturity age is 60 years (age nearer birthday)
    • The minimum Sum assured is Rs. 50000 provided the Sum Assured under the basic plan is more than or equal to Rs. 50000
    • The maximum Sum assured is Rs. 500000
  • Q2. What is the eligibility to opt for Accident Benefit Rider Option under LIC Future Plus Plan

    A2. The eligibility criteria for the Accidental Benefit Rider option are as follows:

    • The minimum age at entry is 18 years (completed)
    • The maximum age at entry is 65 years (age nearer birthday)
    • The maximum maturity age is 70 years (age nearer birthday)
    • The minimum Sum assured is Rs. 25000
    • The maximum Sum assured is Rs. 2500000
  • Q3. What are the types of funds in which a policyholder can invest under the LIC Future Plus Policy?

    A3. There are 4 categories of funds that are available for investment under this plan.

    Bond Fund

    • The government granted securities are not less than 80%
    • Short term investments are 100%
    • No investment in listed equity shares.

    Income Fund

    • The government granted securities are not less than 40%
    • Short term investments are 90%
    • Up to 20% investment in listed equity shares.

    Balanced Fund

    • The government granted securities are not less than 30%
    • Short term investments are up to 80%
    • Up to 30% investment in listed equity shares.

    Growth Fund

    • The government granted securities are not less than 10%
    • Short term investments are up to a maximum of 60%
    • Maximum 60% investment in listed equity shares.
  • Q4. What is auto cover under the LIC Future Plus plan?

    A4. In the instance that a policyholder has opted for risk cover, the charges for it shall be taken by the cancellation of a certain number of units from the policy holder's unit fund.  This will cover the risk even if premiums are not paid up.  During the auto cover period, any premiums that have remained unpaid may be paid up by the policyholder free of interest.

  • Q5. Is the revival of the LIC Future Plus Policy possible if it has lapsed?

    A5. The policyholder has the option of reviving the policy anytime during the term but within a period of 5 years from the date of the first unpaid premium.  The policyholder should pay up all the unpaid premiums.  He will be asked to submit proof of his continued insurability, and if the corporation is satisfied, the policy will be renewed.

  • Q6. Can a policyholder avail of a loan under the LIC Future Plus Plan?

    A6. No.  There is no loan provided under this plan.

  • Q7. What are the risks borne by the policyholder under the LIC Future Plus Policy?

    A7. The risks borne by the policyholder under LIC Future Plus plan are as follows:

    • The Unit Value of the policy holder's unit account is subject to market and other risks.  Therefore, there is no guarantee that the objectives of the funds will be achieved.
    • The value of units within each fund might increase or decrease.
    • All the benefits under the policy might also be affected by changes in tax laws and other financial enactments.

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

*The investment risk in an investment portfolio is borne by the policyholder."

**All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

***Tax benefit is subject to changes in tax laws.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

LIC of India
LIC Plans
LIC Jeevan Utsav
LIC Jeevan Kiran
LIC Dhan Vriddhi
LIC Monthly Investment Plans
LIC Jeevan Azad
LIC 1 Crore Endowment Plans
LIC Jeevan Labh 1 Crore
LIC Crorepati Plan
LIC Dhan Varsha - Plan No. 866
LIC Pension Plus Plan
LIC New Jeevan Shanti
LIC Bima Ratna
LIC Group Plans
LIC Fixed Deposit Monthly Income Plan
LIC Savings Plans
LIC’s New Jeevan Anand
LIC New Jeevan Anand Plan 915
LIC's Saral Jeevan Bima
LIC's Dhan Rekha
LIC Jeevan Labh 836
LIC Jeevan Jyoti Bima Yojana
LIC Child Plans Single Premium
LIC Child Plan Fixed Deposit
LIC Jeevan Akshay VII
LIC Yearly Plan
LIC Bima Jyoti (Plan 860)
LIC’s New Bima Bachat Plan 916
LIC Bachat Plus Plan 861
LIC Policy for Girl Child in India
LIC Samriddhi Plus
LIC New Janaraksha Plan
LIC Nivesh Plus
LIC Policy for Women 2024
LIC Plans for 15 years
LIC Jeevan Shree
LIC Jeevan Chhaya
LIC Jeevan Vriddhi
LIC Jeevan Saathi
LIC Jeevan Rekha
LIC Jeevan Pramukh
LIC Jeevan Dhara
LIC Money Plus
LIC Micro Bachat Policy
LIC Endowment Plus Plan
LIC Endowment Assurance Policy
LIC Bhagya Lakshmi Plan
LIC Bima Diamond
LIC Anmol Jeevan
LIC Bima Shree (Plan No. 948)
LIC Jeevan Saathi Plus
LIC Jeevan Shiromani Plan
LIC Annuity Plans
LIC Jeevan Akshay VII Plan
LIC SIIP Plan (Plan no. 852) 2024
LIC Jeevan Umang Plan
LIC Jeevan Shanti Plan
LIC Online Premium Payment
LIC Jeevan Labh Policy-936
LIC Money Plus Plan
LIC Komal Jeevan Plan
LIC Jeevan Tarang Plan
LIC Bima Bachat Plan
LIC’s New Money Back Plan-25 years
LIC Money Back Plan 20 years
LIC Limited Premium Endowment Plan
LIC Jeevan Rakshak Plan
LIC New Jeevan Anand (Previously LIC Plan 149)
LIC New Endowment Plan
LIC Varishtha Pension Bima Yojana
LIC Investment Plans
LIC Pension Plans
Show More Plans
LIC Calculator
  • One time
  • Monthly
/ Year
Sensex has given 10% return from 2010 - 2020
You invest
You get
View plans
top
View Plans
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL