LIC Index Plus 

LIC Index Plus is a new unit-linked life insurance plan offering market growth potential with guaranteed death benefits. The plan provides the life cover throughout the policy term and allows the policyholder to invest their money in their choice of funds. In addition to this, the plan also allows the policyholder to receive guaranteed additions. The plan can be purchased offline as well as online directly. 

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

LIC Index Plus- An Overview

LIC's Index Plus is a Unit-linked, non-participating insurance plan that offers life insurance coverage and savings over the policy term. It provides flexibility in choosing investment funds based on risk appetite, with guaranteed additions at specified policy durations. The plan allows partial withdrawals to address liquidity needs and offers the option to enhance coverage with LIC's Linked Accident Benefit Rider. 

The fund options available under the plan are:

  • Flexi Growth Fund

  • Flexi Smart Growth Fund

Key Features of LIC Index Plus

  • Flexible Investment Options to choose from:

    • Type of investment fund as per your risk appetite 

    • Premium amount payable, policy term and maturity age 

      LIC's Index Plus offer a range of investment choices, allowing you to tailor your plan based on your risk tolerance and financial goals. 

  • Guaranteed Additions: Every year, a percentage of your annual premium is added to your Unit Fund, boosting your earnings and used to purchase more units.

  • Enhanced protection with Riders: The plan offers additional protection through riders by paying extra premiums.

  • Partial Withdrawals: Partial Withdrawals are allowed to take care of liquidity requirements. 

Eligibility Criteria of LIC Index Plus

Parameters  Minimum Maximum
Entry Age 90 days [50] years (nearer birthday)
[60] years(nearer birthday)
Policy Term 10-15 years 25 years
Maturity Age 18 years 75-85 years
Premium Paying Mode  Yearly/Half Yearly/Quarterly/Monthly
Basic Sum Assured 7 times of Annualized Premium 10 times of Annualized Premium

Benefits of LIC Index Plus

  • Death Benefit:

    If the policyholder passes away before the maturity date, the death benefit depends on when it happens. The beneficiaries receive the invested money (Unit Fund Value) if it occurs before the risk coverage starts. Suppose it happens after the risk coverage begins. In that case, the beneficiaries get the higher of the Basic Sum Assured (minus recent withdrawals), the invested money, or 105% of total premiums paid (minus recent withdrawals). Any charges deducted after death are added back to the invested money, along with any guaranteed additions. The beneficiaries can receive the death benefit as a lump sum or in installments. 

  •  Maturity Benefit:  

    On Life Assured surviving the date of maturity, an amount equal to Unit Fund Value will be paid. 

  • Refund of Mortality Charges: 

    If the policyholder survives past the maturity date and has paid all due premiums, they will receive an additional benefit. This benefit equals the mortality charges deducted for life insurance coverage and the maturity benefit. However, this refund excludes any extra amount charged due to underwriting decisions and tax charges on mortality charges, if applicable. It's important to note that the refund of mortality charges is not applicable for surrendered or discontinued policies.

  • Guaranteed Additions:

    Guaranteed additions only apply to active policies where all required premiums have been paid. These additions, calculated as a percentage of the annual premium, are credited to the investment fund at specific intervals throughout the policy's duration. This bonus rewards maintaining an in-force policy and fulfilling premium payment obligations.

End of the Policy Year Guaranteed Additions (as a percentage of one Annualized Premium)
Annualized Premium less than Rs. 48,000/-  Annualized Premium Rs. 48,000/- and above
6 3% 5%
10 6% 10%
15 12% 20%
20 15% 25%
25 18% 30%

Optional Benefits

  • Rider Benefit:

    You can choose LIC's Linked Accidental Death Benefit Rider at any policy anniversary, given that the remaining policy term is at least 5 years but no later than the policy anniversary when the life assured is turning 65. This rider provides coverage until the Date of Maturity or until the policy anniversary when the life assured is 70, whichever comes earlier, as long as the policy is active during an accident. If opted for, in the event of accidental death, the Accident Benefit Sum Assured will be paid as a lump sum. This rider does not apply to policies on the life of minors or during the life assured's minority. The Accident Benefit Sum Assured cannot exceed the Basic Sum Assured.

  • Switching:

    You can change the investment type of your policy during its duration. When you switch, all your money in the current investment will move to the new one. You get four free switches each policy year, but after that, there's a charge of ₹100 per switch.

  • Partial Withdrawals:

    After keeping the policy for at least 5 years, you can take out some of your money if needed. If the policy is for a minor, withdrawals are allowed only once they turn 18. You can take out a fixed amount or a specific number of units. The maximum withdrawal amount depends on how long you've had the policy. However, you must keep a minimum amount in the policy active. 

    There's a charge for each withdrawal, and any guaranteed additions will be reduced. If you withdraw, the insurance amount is temporarily lowered but returns to the original amount after two years.

  • Settlement Option:

    If the insured person passes away, the beneficiary can receive the money in installments over up to 5 years. The policyholder can make this choice while the insured person is still a minor or by the insured person once they are 18 or older. The payment frequency (yearly, half-yearly, quarterly, or monthly) needs to be specified in writing along with the death certificate. Once the option is chosen, the beneficiary cannot change it.

Policy Details of LIC Index Plus

  • Free Look Period:

    The policyholders are given 30 days from receiving the policy document to review and return it if they are not satisfied. Refund includes the value of units, unallocated premium, mortality and accident benefit charges, and tax charges, minus the cost of medical examinations and stamp duty.

  • Grace Period:

    The policyholders get a grace period of 30 days for yearly, half-yearly, or quarterly premiums and 15 days for monthly premiums (NACH) from the date of the first unpaid premium.

  • Investment of Funds:

    The policyholder can decide where their money goes by choosing one of two funds in the Unit Fund. When they pay a premium, the part left after the deduction of charges is used to buy units in your chosen fund.

  • Charges under the Plan:

    • Premium Allocation Charge: Deducted from the premium.

    • Mortality Charge: Covers the cost of life insurance.

    • Accident Benefit Charges: This applies if the rider is chosen.

    • Fund Management Charge: Percentage of the fund value.

    • Policy Administration Charge: Monthly charge from the 6th policy year.

    • Switching Charge: Applied when changing funds.

    • Partial Withdrawal Charge: Levied on partial withdrawals.

    • Discontinuance Charge: Applied if the policy is discontinued.

    • Tax Charge: Levied on applicable charges.

    • Miscellaneous Charge: Applied for alterations during the contract.

What is Not Covered under LIC Index Plus?

Suppose someone passes away due to suicide within the first 12 months of starting or reviving the policy. In that case, the nominee or beneficiary gets the money invested (Unit Fund Value) and a death certificate. No other claims are accepted, and the policy ends. Any extra charges and taxes, except for investment-related charges, are returned. Any extra money added after death is taken from the investment.

*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
++Returns are 10 years returns of Nifty 100 Index benchmark

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
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL