LIC Samriddhi Plus

Note: This plan has been now withdrawn by the Life Insurance Corporation Limited
LIC SamriddhiPlus Plan is one of the unit-linked plans provided by LIC.  It acts as a
protective shield for a customer's investment during the time when the market is unstable.  LIC SamriddhiPlus Policy ensures the policyholders the highest Net Asset Value guarantee.

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It, therefore, acts as a safeguard for the customers' investments if and when a financial crisis arises.

A customer can purchase LIC SamriddhiPlus Plan for up to 3 months from the date of initiation of the plan.  A customer has the option to pay the premium either as a fixed, single lump sum, or over a period of 5 years.  The level of cover can be selected based upon the age of a customer, the premium payment mode, and the premium level that he is willing to pay. 

In case a customer chooses to pay a single lump sum amount in the form of a premium towards the LIC Samriddhi Plus Policy, he may do so, or he may pay yearly, half-yearly, quarterly, or monthly (through ECS mode only) premiums as well.  If a customer is paying yearly, half-yearly, or quarterly premiums, he is provided a grace period of 30 days.  15 days is the grace period in case of monthly payments.

Eligibility Criteria of LIC Samriddhi Plus Plan

Minimum Age At Entry – 8 (age at last birthday)

Maximum Age At Entry – 65 (age nearer birthday)

Policy Term                  - 10 years

Minimum premium - 5 years premium paying policies

Benefits of LIC Samriddhi Plus Plan

The following are the key benefits of LIC Samriddhi Plus Policy:

  1. Guaranteed NAV

    LIC Samriddhi Plus policy ensures its holders the benefits of the highest NAV recorded daily during the initial 100 policy months.  This indicates that on the completion of the term by the policy, the amount that will be payable to the customer will be calculated, keeping in mind the highest NAV recorded during the first 100 months covered by the policy.  

    In the event that the highest NAV is recorded on the policy maturity date, that will be payable to the customer.  LIC will take into consideration the units that are present in the policyholder's fund before the application of this guarantee.  A duration of 100 months from the beginning of the policy is taken as the time to be considered for this guarantee.

  2. Death Benefit

    In the event of the death of a policyholder during the term of the policy, the nominee of the LIC SamriddhiPlus Plan will receive the higher value of the Sum Assured.  However, if, during the last two years from the date of death, a partial withdrawal has been made, the Sum Assured will be reduced accordingly. (This holds for the Basic Plan.)

  3. Maturity Benefit

    If a policyholder of LIC SamriddhiPlus Policy survives to the date of maturity of the policy, the payout equals the Policy holder's Fund Value applicable on that date.  The fund of the policyholder at the policy term end will be based on the higher of these two:

    • The highest NAV, over the period of the first 100 months of the policy, or 
    • The NAV on the maturity date.
  4. Accident Benefit Option

    If a policyholder is between 18 and 60, he may choose to invoke the accident benefit option.  This will be the same as the amount of life cover. This will be a minimum of Rs. 25, 000 and a maximum of Rs. 50 lakh.  In the event that there is a death of a policyholder due to an accident, the nominee of the LIC SamriddhiPlus Plan can claim an added sum equivalent to Accident Benefit Sum Assured.

  5. Investment of Funds

    The LIC SamriddhiPlus Policy allows a 0% to 100% investment in corporate debt, short–term investments, and liquid equity shares.  It is hence classified as a medium-risk type of fund.

  6. Surrender value

    A Discontinuance Charge is levied if a policyholder surrenders a policy in a period of 5 years from the date of policy initiation.  This charge is deducted from the Fund Value, and the remainder of the fund is then monetized.  This amount is then credited to the DBF or the Discontinued Policy Fund. There are no charges levied after this.

    The remainder of the Discontinued Policy becomes payable to the nominee immediately, in the event of the death of a policyholder post the surrender date but within the completion of the five years.

    Suppose the LIC Samriddhi Plus Plan is surrendered after five years from the date of initiation of the policy. In that case, the entire Fund Value becomes payable to the policyholder as of the date of surrender.

The Premium Structure of the Plan

The plan is a unit-linked plan. It offers the highest NAV obtained by the fund associated with it in the first 100 months or the NAV on maturity. It also guarantees a minimum NAV of Rs. 10. 

The best part of the plan is that the investor needs to pay the premiums only for a max of 5 years.

Premium can be paid monthly, quarterly, semi-annually, or even annually. There are no applicable top-up premiums.

Documents Required 

The following documents are required if a customer wishes to purchase the LICSamriddhi Plus Plan :

  • ID Proof
  • Date of birth proof
  • Address proof
  • Contact number

The following documents are required in the event of the death of a policyholder:

  • Original Policy Bond
  • Death Certificate of the policyholder
  • ID proof and bank account details of the nominee

The corporation may request more documents that will need to be provided by the nominee or legal heir of the policyholder.

The following documents are required in the event that the policyholder survives beyond the date of maturity of the policy:

  • Original Policy Bond
  • Death Certificate of the policyholder
  • Discharge form


The Process to Buy LIC Samriddhi Plan Online

The most convenient method of obtaining a LIC SamriddhiPlus Plan is to purchase it online or through an aggregator registered with the company.  The following steps need to be undertaken:

Step 1: Locate the website of LIC and click on the “Buy Online” option.

Step 2: Enter the details being requested: name, gender, date of birth, address, and contact number.

Step 3: Choose financial parameters and submit scanned copies of requested documents.

Step 4: Study the quote provided and make online payment of the premium to complete the process.

Key Exclusions

A policyholder will automatically be excluded from the LIC SamriddhiPlus Policy in the event that a policyholder should commit suicide.  This is applicable to most of LIC's unit-linked life insurance plans unless mentioned otherwise.


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

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

*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 4 Reviews)

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LIC Samriddhi Plus Reviews & Ratings

4.8 / 5 (Based on 73 Reviews)
(Showing Newest 10 reviews)
Chalakudy, April 16, 2021
Easy claim settled
I bought the Lic India term plan from the suggestion of my family friend and he recommended me a lot of plans. He said that the claim settlement ratio is quick and easy. Also, it is protective plan.
Balasore, April 16, 2021
Child security fulfilled
I have bought a Lic India child plan online and it has been a year now. I like the way the this works. It is a nice plan I got for my child’s security.
Asifabad, April 14, 2021
Additional riders
Along with my Lic India term insurance plan I have got the additional riders too. It has been an important thing for me and can be useful at any point in time. It can be added with a minimal amount.
Mainpuri, April 14, 2021
Low premium
The premium rate of the child insurance plan of LIC India which I bought 3 years ago is best and it was under my budget. I was searching for some good plans related to child insurance. I got the way of buying this plan and loved it.
Lakhimpur Kheri, April 13, 2021
Tax rebate
I bought a Lic India term insurance policy online and it has been into my budget. Also, I like one thing that I would able to get the tax benefits under it. It is a good option and can be beneficial for all tax payers.
Babina, April 13, 2021
Maturity benefits to get
It is easy to get the maturity benefits when LIC India child plan gets matured and my child would get a better return. It would be easy for him to get the best education and can go for a higher education abroad.
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.
Raghunathpur, April 09, 2021
Happy customers
I am one of the happiest customer of Lic India term plan and I have found various good deals. It is the plan which has come under my budget. And it has been a protective shield for me and my family.
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.
, April 09, 2021
Good Benefits
It is important for everyone to understand that benefit is must when you are buying a child insurance plan. I bought a beneficial child plan of LIC India.
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