Professional Documents
Culture Documents
TABLE NO 803
LIC’S PENSION PLUS
• A unique Unit Linked Pension Plan with
guarantee on the minimum rate of
interest.
• Rate of Interest applied to gross
premium.
• Being a ULIP plan the fund has
immense possibility for growth.
• Benefit of Annuity from Maturity
Proceeds.
LIC’S PENSION PLUS
Benefit on Maturity :
• Annuity purchased from Fund Value or
Guaranteed Maturity Proceeds
whichever is higher.
• Option to commute 1/3rd. of the
Maturity Proceeds.
Mixed Not less than Not more than Not less than Steady Income –
Fund 45% 40% 15% & Lower to
Not more than Medium risk
35%
PENSION PLUS : ELIGIBILITY CONDITIONS
Age at entry 18 to 75 years
Minimum 10 years
Deferment
Term
Mode -» RP MLY (ECS) SP
Premium
Sum Assured NA
PENSION PLUS : CHARGES
Single Premium
Regular Premium
Year Charge
Premium 1st 6.75%
Allocation 2nd to 5th 4.50% 3.3%
Charge Thereaft 2.50%
er
Top-up premium: 1.25%
` 30/-pm during the first policy year and
Policy Administration
` 30/- pm escalating at the rate of 3%
Charge
pa. thereafter
Fund Management Debt Fund 0.70% p.a.
Charge Mixed Fund 0.80% p.a.
Switching Charge 2 switches free . ` 100 thereafter
Miscellaneous charge ` 50/- for alteration.
Pension Plus – Other features
• If premiums are not paid within days of
grace life assured has to exercise option
to (i) Revive the policy or
(ii) Withdraw the policy.
• Revival: Payment of Arrears without
Interest.
• Withdrawal : On Withdrawal, Monetary
Value is due. 1/3rd of the Monetary Value
can be commuted, Balance is used for
Annuity.
Pension Plus – Other features
• Withdrawal before 5 years: Monetary Value is
calculated on the date of termination. The
amount so calculated will earn interest @
3.5% p.a. from date of withdrawal to
completion of 5 years and will be due only on
completion of 5 years from the date of
commencement.
Thank You !